APO RESEARCH · REPORT
Tunnel Boring Machine (TBM)
A tunnel boring machine (TBM) is a machine used to excavate tunnels with a circular cross section through a variety of soil and rock strata. They may also be used for micro tunneling. In Japan and China, the machines used for soil are called shield tunneling machines and machines used for hard rock are called tunnel boring machine. But in Europe and USA, they are called the same name tunnel boring machine. The research we did include all of them.
Product & engineering
Understand the product.
A tunnel boring machine (TBM) is a machine used to excavate tunnels with a circular cross section through a variety of soil and rock strata. They may also be used for micro tunneling. In Japan and China, the machines used for soil are called shield tunneling machines and machines used for hard rock are called tunnel boring machine. But in Europe and USA, they are called the same name tunnel boring machine. The research we did include all of them.
Selected research
Industry Research
Tunnel Boring Machine (TBM) Industry Research Report 2026
Market perspective
A tunnel boring machine (TBM) is a machine used to excavate tunnels with a circular cross section through a variety of soil and rock strata. They may also be used for micro tunneling. In Japan and China, the machines used for soil are called shield tunneling machines and machines used for hard rock are called tunnel boring machine. But in Europe and USA, they are called the same name tunnel boring machine. The research we did include all of them.
Global Tunnel Boring Machine (TBM) key players include Herrenknecht, CRTG, CRCHI, NHI, etc. Global top four manufacturers hold a share over 55%.
China is the largest market, with a share about 60%, followed by Europe and North America, both have a share about 30 percent.
Read the full market overview
In terms of product, Soft Ground TBMs is the largest segment, with a share over 70%. And in terms of application, the largest application is Railway and Highway, followed by Municipal Engineering, City Rail System, etc.
Report Scope
This report quantifies the global Tunnel Boring Machine (TBM) market in revenue (US$ million) and, where applicable, sales volume (Unit), using 2025 as the base year and providing annual historical and forecast data for 2021–2032.
It standardizes definitions of types and applications, harmonizes vendor attribution, and presents comparable time series by company, type, application, and region/country, including indicative price bands (US$/Unit) and concentration ratios (CR5/CR10).
The outputs are intended to support strategy development, budgeting, and performance benchmarking for manufacturers, new entrants, channel partners, and investors; the report also reviews technology shifts and notable product introductions relevant to Tunnel Boring Machine (TBM).
Key Companies & Market Share Insights
This section profiles leading manufacturers, combining 2021–2025 results with a 2026–2032 outlook. It reports revenue, market share, price bands, product and application mix, regional and channel mix, and key developments (M&A, capacity additions, certifications). It also provides global revenue, average price, and—where applicable—sales volume by manufacturer, and calculates CR5/CR10 and rank changes to support comparative benchmarking.
Tunnel Boring Machine (TBM) Market by Company
Herrenknecht
CRGIC
CRCHI
Tianhe Mechanical Equipment
Liaoning Censcience Industry Co., Ltd
Komatsu
NHI Group
Kawasaki
IHI
Terratec
SELI
Tianye Tolian
Hitachi Zosen
Xugong Kaigong
STEC
JIMT
Tunnel Boring Machine (TBM) Segment by Type
Soft Ground TBMs
Hard Rock TBMs
Tunnel Boring Machine (TBM) Segment by Application
City Rail System
Railway and Highway
Municipal Engineering
Others
Tunnel Boring Machine (TBM) Segment by Region
North America
United States
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Spain
Netherlands
Switzerland
Sweden
Poland
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Southeast Asia
South America
Brazil
Argentina
Chile
Middle East & Africa
Egypt
South Africa
Israel
Türkiye
GCC Countries
Key Drivers & Barriers
High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.
Reasons to Buy This Report
1. This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Tunnel Boring Machine (TBM) market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.
2. This report will help stakeholders to understand the global industry status and trends of Tunnel Boring Machine (TBM) and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in volume and value), competitor ecosystem, new product development, expansion, and acquisition.
4. This report stays updated with novel technology integration, features, and the latest developments in the market
5. This report helps stakeholders to gain insights into which regions to target globally
6. This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Tunnel Boring Machine (TBM).
7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.
Chapter Outline
Chapter 1: Research objectives, research methods, data sources, data cross-validation;
Chapter 2: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 3: Detailed analysis of Tunnel Boring Machine (TBM) manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.
Chapter 5: Production/output, value of Tunnel Boring Machine (TBM) by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.
Chapter 6: Consumption of Tunnel Boring Machine (TBM) in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and production of each country in the world.
Chapter 7: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 8: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 10: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 11: The main points and conclusions of the report.
More report detail
Tables and figures
Scope & coverage.
Types
- Soft Ground TBMs
- Hard Rock TBMs
Applications
- City Rail System
- Railway and Highway
- Municipal Engineering
- Others
Companies covered
- Herrenknecht
- CRGIC
- CRCHI
- Tianhe Mechanical Equipment
- Liaoning Censcience Industry Co., Ltd
- Komatsu
- NHI Group
- Kawasaki
- IHI
- Terratec
- SELI
- Tianye Tolian
- Hitachi Zosen
- Xugong Kaigong
- STEC
- JIMT
Inside the report.
1 Preface
- 1.1 Scope of Report
- 1.2 Reasons for Doing This Study
- 1.3 Research Methodology
- 1.4 Research Process
- 1.5 Data Source
- 1.5.1 Secondary Sources
- 1.5.2 Primary Sources
2 Market Overview
- 2.1 Product Definition
- 2.2 Tunnel Boring Machine (TBM) by Type
- 2.2.1 Market Value Comparison by Type (2021 VS 2025 VS 2032) & (US$ Million)
- 2.2.2 Soft Ground TBMs
- 2.2.3 Hard Rock TBMs
- 2.3 Tunnel Boring Machine (TBM) by Application
- 2.3.1 Market Value Comparison by Application (2021 VS 2025 VS 2032) & (US$ Million)
- 2.3.2 City Rail System
- 2.3.3 Railway and Highway
- 2.3.4 Municipal Engineering
- 2.3.5 Others
- 2.4 Global Market Growth Prospects
- 2.4.1 Global Tunnel Boring Machine (TBM) Production Value Estimates and Forecasts (2021-2032)
- 2.4.2 Global Tunnel Boring Machine (TBM) Production Capacity Estimates and Forecasts (2021-2032)
- 2.4.3 Global Tunnel Boring Machine (TBM) Production Estimates and Forecasts (2021-2032)
- 2.4.4 Global Tunnel Boring Machine (TBM) Market Average Price (2021-2032)
3 Market Competitive Landscape by Manufacturers
- 3.1 Global Tunnel Boring Machine (TBM) Production by Manufacturers (2021-2026)
- 3.2 Global Tunnel Boring Machine (TBM) Production Value by Manufacturers (2021-2026)
- 3.3 Global Tunnel Boring Machine (TBM) Average Price by Manufacturers (2021-2026)
- 3.4 Global Tunnel Boring Machine (TBM) Industry Manufacturers Ranking, 2024 VS 2025 VS 2026
- 3.5 Global Tunnel Boring Machine (TBM) Key Manufacturers, Manufacturing Sites & Headquarters
- 3.6 Global Tunnel Boring Machine (TBM) Manufacturers, Product Type & Application
- 3.7 Global Tunnel Boring Machine (TBM) Manufacturers Established Date
- 3.8 Global Tunnel Boring Machine (TBM) Market CR5 and HHI
- 3.9 Global Manufacturers Mergers & Acquisition
4 Manufacturers Profiled
- 4.1 Herrenknecht
- 4.1.1 Herrenknecht Tunnel Boring Machine (TBM) Company Information
- 4.1.2 Herrenknecht Tunnel Boring Machine (TBM) Business Overview
- 4.1.3 Herrenknecht Tunnel Boring Machine (TBM) Production, Value and Gross Margin (2021-2026)
- 4.1.4 Herrenknecht Product Portfolio
- 4.1.5 Herrenknecht Recent Developments
- 4.2 CRGIC
- 4.2.1 CRGIC Tunnel Boring Machine (TBM) Company Information
- 4.2.2 CRGIC Tunnel Boring Machine (TBM) Business Overview
- 4.2.3 CRGIC Tunnel Boring Machine (TBM) Production, Value and Gross Margin (2021-2026)
- 4.2.4 CRGIC Product Portfolio
- 4.2.5 CRGIC Recent Developments
- 4.3 CRCHI
- 4.3.1 CRCHI Tunnel Boring Machine (TBM) Company Information
- 4.3.2 CRCHI Tunnel Boring Machine (TBM) Business Overview
- 4.3.3 CRCHI Tunnel Boring Machine (TBM) Production, Value and Gross Margin (2021-2026)
- 4.3.4 CRCHI Product Portfolio
- 4.3.5 CRCHI Recent Developments
- 4.4 Tianhe Mechanical Equipment
- 4.4.1 Tianhe Mechanical Equipment Tunnel Boring Machine (TBM) Company Information
- 4.4.2 Tianhe Mechanical Equipment Tunnel Boring Machine (TBM) Business Overview
- 4.4.3 Tianhe Mechanical Equipment Tunnel Boring Machine (TBM) Production, Value and Gross Margin (2021-2026)
- 4.4.4 Tianhe Mechanical Equipment Product Portfolio
- 4.4.5 Tianhe Mechanical Equipment Recent Developments
- 4.5 Liaoning Censcience Industry Co., Ltd
- 4.5.1 Liaoning Censcience Industry Co., Ltd Tunnel Boring Machine (TBM) Company Information
- 4.5.2 Liaoning Censcience Industry Co., Ltd Tunnel Boring Machine (TBM) Business Overview
- 4.5.3 Liaoning Censcience Industry Co., Ltd Tunnel Boring Machine (TBM) Production, Value and Gross Margin (2021-2026)
- 4.5.4 Liaoning Censcience Industry Co., Ltd Product Portfolio
- 4.5.5 Liaoning Censcience Industry Co., Ltd Recent Developments
- 4.6 Komatsu
- 4.6.1 Komatsu Tunnel Boring Machine (TBM) Company Information
- 4.6.2 Komatsu Tunnel Boring Machine (TBM) Business Overview
- 4.6.3 Komatsu Tunnel Boring Machine (TBM) Production, Value and Gross Margin (2021-2026)
- 4.6.4 Komatsu Product Portfolio
- 4.6.5 Komatsu Recent Developments
- 4.7 NHI Group
- 4.7.1 NHI Group Tunnel Boring Machine (TBM) Company Information
- 4.7.2 NHI Group Tunnel Boring Machine (TBM) Business Overview
- 4.7.3 NHI Group Tunnel Boring Machine (TBM) Production, Value and Gross Margin (2021-2026)
- 4.7.4 NHI Group Product Portfolio
- 4.7.5 NHI Group Recent Developments
- 4.8 Kawasaki
- 4.8.1 Kawasaki Tunnel Boring Machine (TBM) Company Information
- 4.8.2 Kawasaki Tunnel Boring Machine (TBM) Business Overview
- 4.8.3 Kawasaki Tunnel Boring Machine (TBM) Production, Value and Gross Margin (2021-2026)
- 4.8.4 Kawasaki Product Portfolio
- 4.8.5 Kawasaki Recent Developments
- 4.9 IHI
- 4.9.1 IHI Tunnel Boring Machine (TBM) Company Information
- 4.9.2 IHI Tunnel Boring Machine (TBM) Business Overview
- 4.9.3 IHI Tunnel Boring Machine (TBM) Production, Value and Gross Margin (2021-2026)
- 4.9.4 IHI Product Portfolio
- 4.9.5 IHI Recent Developments
- 4.10 Terratec
- 4.10.1 Terratec Tunnel Boring Machine (TBM) Company Information
- 4.10.2 Terratec Tunnel Boring Machine (TBM) Business Overview
- 4.10.3 Terratec Tunnel Boring Machine (TBM) Production, Value and Gross Margin (2021-2026)
- 4.10.4 Terratec Product Portfolio
- 4.10.5 Terratec Recent Developments
- 4.11 SELI
- 4.11.1 SELI Tunnel Boring Machine (TBM) Company Information
- 4.11.2 SELI Tunnel Boring Machine (TBM) Business Overview
- 4.11.3 SELI Tunnel Boring Machine (TBM) Production, Value and Gross Margin (2021-2026)
- 4.11.4 SELI Product Portfolio
- 4.11.5 SELI Recent Developments
- 4.12 Tianye Tolian
- 4.12.1 Tianye Tolian Tunnel Boring Machine (TBM) Company Information
- 4.12.2 Tianye Tolian Tunnel Boring Machine (TBM) Business Overview
- 4.12.3 Tianye Tolian Tunnel Boring Machine (TBM) Production, Value and Gross Margin (2021-2026)
- 4.12.4 Tianye Tolian Product Portfolio
- 4.12.5 Tianye Tolian Recent Developments
- 4.13 Hitachi Zosen
- 4.13.1 Hitachi Zosen Tunnel Boring Machine (TBM) Company Information
- 4.13.2 Hitachi Zosen Tunnel Boring Machine (TBM) Business Overview
- 4.13.3 Hitachi Zosen Tunnel Boring Machine (TBM) Production, Value and Gross Margin (2021-2026)
- 4.13.4 Hitachi Zosen Product Portfolio
- 4.13.5 Hitachi Zosen Recent Developments
- 4.14 Xugong Kaigong
- 4.14.1 Xugong Kaigong Tunnel Boring Machine (TBM) Company Information
- 4.14.2 Xugong Kaigong Tunnel Boring Machine (TBM) Business Overview
- 4.14.3 Xugong Kaigong Tunnel Boring Machine (TBM) Production, Value and Gross Margin (2021-2026)
- 4.14.4 Xugong Kaigong Product Portfolio
- 4.14.5 Xugong Kaigong Recent Developments
- 4.15 STEC
- 4.15.1 STEC Tunnel Boring Machine (TBM) Company Information
- 4.15.2 STEC Tunnel Boring Machine (TBM) Business Overview
- 4.15.3 STEC Tunnel Boring Machine (TBM) Production, Value and Gross Margin (2021-2026)
- 4.15.4 STEC Product Portfolio
- 4.15.5 STEC Recent Developments
- 4.16 JIMT
- 4.16.1 JIMT Tunnel Boring Machine (TBM) Company Information
- 4.16.2 JIMT Tunnel Boring Machine (TBM) Business Overview
- 4.16.3 JIMT Tunnel Boring Machine (TBM) Production, Value and Gross Margin (2021-2026)
- 4.16.4 JIMT Product Portfolio
- 4.16.5 JIMT Recent Developments
5 Global Tunnel Boring Machine (TBM) Production by Region
- 5.1 Global Tunnel Boring Machine (TBM) Production Estimates and Forecasts by Region: 2021 VS 2025 VS 2032
- 5.2 Global Tunnel Boring Machine (TBM) Production by Region: 2021-2032
- 5.2.1 Global Tunnel Boring Machine (TBM) Production by Region: 2021-2026
- 5.2.2 Global Tunnel Boring Machine (TBM) Production Forecast by Region (2027-2032)
- 5.3 Global Tunnel Boring Machine (TBM) Production Value Estimates and Forecasts by Region: 2021 VS 2025 VS 2032
- 5.4 Global Tunnel Boring Machine (TBM) Production Value by Region: 2021-2032
- 5.4.1 Global Tunnel Boring Machine (TBM) Production Value by Region: 2021-2026
- 5.4.2 Global Tunnel Boring Machine (TBM) Production Value Forecast by Region (2027-2032)
- 5.5 Global Tunnel Boring Machine (TBM) Market Price Analysis by Region (2021-2026)
- 5.6 Global Tunnel Boring Machine (TBM) Production and Value, YOY Growth
- 5.6.1 North America Tunnel Boring Machine (TBM) Production Value Estimates and Forecasts (2021-2032)
- 5.6.2 Europe Tunnel Boring Machine (TBM) Production Value Estimates and Forecasts (2021-2032)
- 5.6.3 China Tunnel Boring Machine (TBM) Production Value Estimates and Forecasts (2021-2032)
- 5.6.4 Japan Tunnel Boring Machine (TBM) Production Value Estimates and Forecasts (2021-2032)
6 Global Tunnel Boring Machine (TBM) Consumption by Region
- 6.1 Global Tunnel Boring Machine (TBM) Consumption Estimates and Forecasts by Region: 2021 VS 2025 VS 2032
- 6.2 Global Tunnel Boring Machine (TBM) Consumption by Region (2021-2032)
- 6.2.1 Global Tunnel Boring Machine (TBM) Consumption by Region: 2021-2026
- 6.2.2 Global Tunnel Boring Machine (TBM) Forecasted Consumption by Region (2027-2032)
- 6.3 North America
- 6.3.1 North America Tunnel Boring Machine (TBM) Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.3.2 North America Tunnel Boring Machine (TBM) Consumption by Country (2021-2032)
- 6.3.3 United States
- 6.3.4 Canada
- 6.3.5 Mexico
- 6.4 Europe
- 6.4.1 Europe Tunnel Boring Machine (TBM) Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.4.2 Europe Tunnel Boring Machine (TBM) Consumption by Country (2021-2032)
- 6.4.3 Germany
- 6.4.4 France
- 6.4.5 U.K.
- 6.4.6 Italy
- 6.4.7 Russia
- 6.4.8 Spain
- 6.4.9 Netherlands
- 6.4.10 Switzerland
- 6.4.11 Sweden
- 6.4.12 Poland
- 6.5 Asia Pacific
- 6.5.1 Asia Pacific Tunnel Boring Machine (TBM) Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.5.2 Asia Pacific Tunnel Boring Machine (TBM) Consumption by Country (2021-2032)
- 6.5.3 China
- 6.5.4 Japan
- 6.5.5 South Korea
- 6.5.6 India
- 6.5.7 Australia
- 6.5.8 Taiwan
- 6.5.9 Southeast Asia
- 6.6 South America, Middle East & Africa
- 6.6.1 South America, Middle East & Africa Tunnel Boring Machine (TBM) Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.6.2 South America, Middle East & Africa Tunnel Boring Machine (TBM) Consumption by Country (2021-2032)
- 6.6.3 Brazil
- 6.6.4 Argentina
- 6.6.5 Chile
- 6.6.6 Turkey
- 6.6.7 GCC Countries
7 Segment by Type
- 7.1 Global Tunnel Boring Machine (TBM) Production by Type (2021-2032)
- 7.1.1 Global Tunnel Boring Machine (TBM) Production by Type (2021-2032) & (Unit)
- 7.1.2 Global Tunnel Boring Machine (TBM) Production Market Share by Type (2021-2032)
- 7.2 Global Tunnel Boring Machine (TBM) Production Value by Type (2021-2032)
- 7.2.1 Global Tunnel Boring Machine (TBM) Production Value by Type (2021-2032) & (US$ Million)
- 7.2.2 Global Tunnel Boring Machine (TBM) Production Value Market Share by Type (2021-2032)
- 7.3 Global Tunnel Boring Machine (TBM) Price by Type (2021-2032)
8 Segment by Application
- 8.1 Global Tunnel Boring Machine (TBM) Production by Application (2021-2032)
- 8.1.1 Global Tunnel Boring Machine (TBM) Production by Application (2021-2032) & (Unit)
- 8.1.2 Global Tunnel Boring Machine (TBM) Production Market Share by Application (2021-2032)
- 8.2 Global Tunnel Boring Machine (TBM) Production Value by Application (2021-2032)
- 8.2.1 Global Tunnel Boring Machine (TBM) Production Value by Application (2021-2032) & (US$ Million)
- 8.2.2 Global Tunnel Boring Machine (TBM) Production Value Market Share by Application (2021-2032)
- 8.3 Global Tunnel Boring Machine (TBM) Price by Application (2021-2032)
9 Value Chain and Sales Channels Analysis of the Market
- 9.1 Tunnel Boring Machine (TBM) Value Chain Analysis
- 9.1.1 Tunnel Boring Machine (TBM) Key Raw Materials
- 9.1.2 Raw Materials Key Suppliers
- 9.1.3 Tunnel Boring Machine (TBM) Production Mode & Process
- 9.2 Tunnel Boring Machine (TBM) Sales Channels Analysis
- 9.2.1 Direct Comparison with Distribution Share
- 9.2.2 Tunnel Boring Machine (TBM) Distributors
- 9.2.3 Tunnel Boring Machine (TBM) Customers
10 Global Tunnel Boring Machine (TBM) Analyzing Market Dynamics
- 10.1 Tunnel Boring Machine (TBM) Industry Trends
- 10.2 Tunnel Boring Machine (TBM) Industry Drivers
- 10.3 Tunnel Boring Machine (TBM) Industry Opportunities and Challenges
- 10.4 Tunnel Boring Machine (TBM) Industry Restraints
11 Report Conclusion
12 Disclaimer
GET THE RESEARCH
Choose your license.
Choose who needs access.
All options are for this report and research series.
PDF by email within 3–5 working days after payment confirmation.
Talk to an analyst