Global Tunneling Equipment Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Equipment Type;

Tunnel Boring Machines, Drilling Rigs, and Others.

By Geology Type;

Soft Ground, Hard Rock Ground, and Heterogenous Ground.

By End-Use;

Road Transport, Railway Transport, Metro & Transit, Utilities, Mining, and Oil & Gas.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn761420260 Published Date: March, 2025 Updated Date: April, 2025

Introduction

Global Tunneling Equipment Market (USD Million), 2021 - 2031

In the year 2024, the Global Tunneling Equipment Market was valued at USD 10507.54 million. The size of this market is expected to increase to USD 14785.16 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 5.0%.

The Global Tunneling Equipment Market represents a vital sector within the broader construction and mining industries, serving as the backbone for the excavation and construction of underground infrastructure worldwide. Tunneling equipment encompasses a diverse range of machinery and tools specifically engineered to excavate tunnels, mines, and underground structures efficiently and safely. From advanced tunnel boring machines (TBMs) to drilling rigs and ventilation systems, these specialized equipment play a pivotal role in facilitating the development of transportation tunnels, utility tunnels, mining operations, and various underground construction projects.

The demand for tunneling equipment is propelled by a myriad of factors, including the expansion of transportation networks, urbanization trends, and the increasing emphasis on sustainable infrastructure development. Governments and private sector entities worldwide are investing heavily in the construction of tunnels for roadways, railways, subways, and underground utilities to meet the growing demands of urban populations and improve connectivity.

The mining industry relies heavily on tunneling equipment for accessing mineral deposits efficiently and safely, driving demand for advanced drilling, excavation, and support systems. Additionally, the proliferation of renewable energy projects, such as hydroelectric dams and underground storage facilities, further underscores the importance of tunneling equipment in facilitating sustainable infrastructure development.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Equipment Type
    2. Market Snapshot, By Geology Type
    3. Market Snapshot, By End-Use
    4. Market Snapshot, By Region
  4. Global Tunneling Equipment Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Infrastructure Development Projects
        2. Urbanization and Population Growth
        3. Expansion of Transportation Networks
        4. Growth in Mining Activities
        5. Emphasis on Sustainable Infrastructure
      2. Restraints
        1. High Initial Investment Costs
        2. Environmental and Regulatory Challenges
        3. Technical Complexity and Operational Risks
        4. Economic Uncertainty and Funding Constraints
        5. Competition from Alternative Excavation Methods
      3. Opportunities
        1. Technological Advancements in Equipment
        2. Emerging Markets and Infrastructure Projects
        3. Adoption of Automation and Remote Monitoring
        4. Focus on Safety and Efficiency Improvements
        5. Collaboration and Partnerships for Innovation
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Tunneling Equipment Market, By Product, 2021 - 2031 (USD Million)
      1. Tunnel Boring Machines
      2. Drilling Rigs
      3. Others
    2. Global Tunneling Equipment Market, By Geology Type, 2021 - 2031 (USD Million)
      1. Soft Ground
      2. Hard Rock Ground
      3. Heterogenous Ground
    3. Global Tunneling Equipment Market, By End-Use, 2021 - 2031 (USD Million)
      1. Road Transport
      2. Railway Transport
      3. Metro & Transit
      4. Utilities
      5. Mining
      6. Oil & Gas
    4. Global Tunneling Equipment Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Herrenknecht AG
      2. Robbins Company
      3. Komatsu Ltd.
      4. Sandvik AB
      5. Caterpillar Inc.
      6. Hitachi Construction Machinery Co., Ltd.
      7. Normet Group
      8. Epiroc AB
      9. Atlas Copco AB
      10. Mitsubishi Heavy Industries, Ltd.
  7. Analyst Views
  8. Future Outlook of the Market