Raise Boring Machines Market Size, Growth Report, 2033

Raise Boring Machines Market Overview

The Raise Boring Machines Market size was valued at USD 177.35 million in 2024 and is expected to reach USD 215.18 million by 2033, growing at a CAGR of 2.2% from 2025 to 2033.

The global raise boring machines market involves specialized drilling units used to create vertical or inclined shafts measuring between 0.5 m and over 6 m in diameter and depths up to 2,000 m. In 2024, approximately 790 million USD worth of raise boring units were traded, involving more than 10,000 machine deployments globally. Among these, roughly 60–70 percent of market volume comes from units supplied by manufacturers with share concentrations in North America, Europe, and Australia. Asia-Pacific accounts for over 35 percent of unit installations in 2024, with China contributing more than 25 percent of the regional total . The market comprises over 15 machine types differentiated by cutting head size, drive system, and automation level. Stationary raise boring systems represent over 40 percent of total global machinery units, followed by mobile versions at about 30 percent . Applications span underground mining (accounting for approximately 45 percent of unit usage), hydropower projects (20 percent), civil construction including metro and utility shafts (25 percent), and other sectors (10 percent). In 2024, roughly 24,000 boring or sinking machines—including raise boring units—were produced in the U.S., sustaining an annual output similar to 2023 levels. This level of activity reflects sustained demand amid infrastructure and mining expansions.

Key Findings

Driver: Infrastructure development projects and underground mining investments constitute the main market driver.

Country/Region: Asia-Pacific leads global installations, with China representing over 25 percent of regional units in 2024.

Segment: Stationary raise boring machines form the largest segment, accounting for more than 40 percent of global market machinery units.

Raise Boring Machines Market Trends

The raise boring machines market is seeing several pronounced trends marked by quantitative shifts across regions and technologies. In 2024, over 35 percent of new machine deployments occurred in Asia‑Pacific, a rise of 8 percentage points compared to 2022 levels, supported by China’s metro expansion and mining activities. North America and Europe together contribute more than 50 percent of annual unit installations, with unit counts in the U.S., Canada, Germany, and Australia each ranging from 1,000–1,500 units in 2024 . Globally, over 10,000 raise boring units were active in 2024, with approximately 45 percent in underground mining, 20 percent in hydropower applications, and 25 percent in civil construction (tunnels, utility shafts). Automation and digitalization are strongly affecting the industry: by late 2024, more than 20 percent of new units shipped included remote monitoring systems, and around 15 percent were equipped with semi‑automatic feed control. These figures reflect significant technological uptake from less than 5 percent automated units in 2020. Within machine counts, electric‑drive systems represented 30 percent of new units in 2024, compared to 10 percent three years prior . Safety enhancements are likewise measurable: 90 percent of major OEM units built in 2023‑2024 included enhanced operator cabins with pressure‑regulated ventilation and improved emergency‑shutdown systems .

Material innovations are visible too. In 2024, over 50 percent of cutting heads featured new wear‑resistant alloys, extending tool life by approximately 30 percent versus 2019. Additionally, over 25 percent of all new units have modular or hybrid ride‑on designs—supporting both raise boring and tunnel boring functions—and this proportion rose from under 10 percent in 2022 . Regional trends show diverging adoption patterns. Asia‑Pacific accounted for roughly 4,000 new units in 2024, up from 3,200 in 2022; North America and Europe together installed around 5,500 units—essentially flat compared to 2023—highlighting maturity in those markets . The Middle East & Africa region saw a 15 percent rise to approximately 700 units, driven by hydropower and mining initiatives Alternate excavation technologies like tunnel boring machines (TBMs) achieved deployment figures of 1,200 machines globally in 2024—about 12 percent of the number of raise boring units—but they continue to serve complementary niches rather than direct replacements. In contrast, drill‑and‑blast methods have declined by an estimated 20 percent since 2021, as raise boring offers faster shaft sinking times (up to 40 percent reduction in cycle time per shaft). To summarize, trends in unit volumes, regional shifts, automation adoption, hybrid designs, safety systems and material innovations define a market undergoing rapid technology‑driven evolution while remaining grounded in large global deployment figures.

Raise Boring Machines Market Dynamics

DRIVER

Surge in Infrastructure and Mining Expansion

The primary driver in the raise boring machines market is the continuous demand for efficient underground excavation methods, propelled by global infrastructure and mining expansion. In 2024, more than 4,000 kilometers of new underground metro tunnels were under construction worldwide, with over 2,500 kilometers in Asia-Pacific alone. Simultaneously, mining exploration grew in over 30 countries, including Australia, Canada, Peru, and South Africa. These expansions require vertical shafts for ventilation, ore transport, and access, which raise boring machines uniquely address. Over 45% of all vertical shafts drilled globally in 2024 were executed using raise boring technology, with some mines deploying units capable of sinking shafts up to 1,500 meters deep and 6 meters in diameter. Additionally, infrastructure projects such as hydropower dams, which demand vertical shaft construction, grew by over 18% in capacity globally from 2022 to 2024.

RESTRAINT

Preference for Refurbished Equipment in Developing Economies

A key market restraint is the increasing preference for refurbished or second-hand equipment in cost-sensitive regions. In 2024, nearly 28% of the raise boring machines in Latin America and 32% in Africa were refurbished models, compared to just 8% in North America. Due to the high capital investment in new units, averaging above USD 1.5 million per machine, buyers in low-margin mining operations opt for used units with up to 60% lower upfront cost. This trend dampens new equipment demand and slows technological penetration in emerging markets. Moreover, the availability of surplus units from decommissioned projects in Canada, Chile, and Australia adds pressure on OEMs to remain price-competitive.

OPPORTUNITY

Rising Automation and AI Integration in Boring Equipment

Automation and AI-based drilling optimization offer a major growth opportunity. In 2024, over 21% of new machines were equipped with automated thrust and torque controls, compared to just 6% in 2020. Machines with integrated AI sensors can reduce boring time by 25–35%, decrease tool wear by 18%, and increase operator safety by minimizing manual intervention. Furthermore, OEMs are developing cloud-integrated diagnostics, with 12% of new raise boring units featuring remote performance monitoring systems by the end of 2024. These capabilities are expected to become standard in North America and Europe by 2026. The automation boom opens potential for leasing models, particularly in urban tunnel projects where time efficiency directly affects project cost.

CHALLENGE

Rising Costs of Components and Skilled Labor Shortages

A significant challenge is the increased cost of critical components and skilled labor shortages. Between 2022 and 2024, the average price of cutting heads and hydraulic systems rose by 17%, while delivery lead times extended by 30–45 days. At the same time, the mining and tunneling industries reported a 22% deficit in qualified operators for raise boring equipment, particularly in regions like Central Asia, South America, and Southern Africa. This workforce gap delays project timelines and drives operational costs higher. Additionally, the rising prices of high-tensile steels, rare earth magnets, and high-efficiency motors further compound procurement pressures, especially for manufacturers seeking to increase automation and environmental efficiency.

Raise Boring Machines Market Segmentation

The raise boring machines market is segmented by type—Raise-boring, Down-reaming, and Box-holing—and by application, including Underground Mining, Hydropower Projects, Civil Construction, and Others. In 2024, raise-boring accounted for over 50% of global unit sales, particularly in mining. Down-reaming represented approximately 30%, commonly used in hydro and utility shafts. Box-holing, more prevalent in hard rock mining operations, covered nearly 20%. By application, underground mining held the largest share with 45% of all machines deployed, followed by civil construction at 25%, hydropower at 20%, and other uses at 10%, including oil & gas and geotechnical works.

By Type

Raise-boring: Raise-boring machines made up over 50% of global installations in 2024. These machines are particularly suited for creating shafts between 0.6 to 6 meters in diameter, often exceeding 1,000 meters in depth. The largest demand comes from deep-level mining projects in Canada, Chile, and South Africa. In 2024 alone, more than 5,500 units were operational worldwide in this category. A growing number—around 18%—were fully automated, featuring digital thrust and torque regulation systems.
Down-reaming: Down-reaming machines accounted for approximately 30% of the market in 2024. These are typically used for shaft enlargement and reverse drilling processes. Over 2,500 active machines globally were involved in hydropower and civil construction projects. These machines can handle depths of up to 750 meters, and bore diameters ranging from 1.2 to 4 meters. China and India represent the largest down-reaming markets, with over 700 units deployed across major infrastructure builds.
Box-holing: Representing around 20% of the market, box-holing machines are used where vertical drilling access is limited from above. These are crucial in block cave and sub-level stoping mines. In 2024, more than 1,200 units were in use globally, with Australia and Peru leading deployments. These machines typically handle diameters under 2 meters and depths up to 200 meters. Compact and modular designs have helped expand their use in narrow-vein mining, accounting for 12% growth over the past two years.

By Application

Underground Mining Industry: The largest application segment, comprising over 45% of the global market in 2024. Around 6,000 machines were in service globally for ore passes, ventilation shafts, and escape routes. The highest concentration is found in Canada, Russia, and Australia.
Hydropower Project: Hydropower projects accounted for 20% of the total application share. Around 2,500 units were active in 2024, especially in steep-gradient penstock tunnel constructions across Asia and South America.
Civil Construction Industry: Responsible for 25% of total machine deployments. Key uses include metro tunneling access shafts and high-rise building foundations. In 2024, over 3,000 machines were in operation globally for civil purposes.
Others: The “Others” segment, including oil & gas and military tunneling, made up 10% of global deployment. Around 1,200 units were involved in projects requiring customized boring solutions.

Raise Boring Machines Market Regional Outlook

In 2024, the raise boring machines market displayed varied regional dynamics. Asia-Pacific dominated with 35% of total unit deployments, driven by tunneling and mining in China and India. North America and Europe each represented around 25% of the market. The Middle East & Africa region saw growth with a 15% share, while Latin America accounted for the remaining 10%. Asia-Pacific is forecast to remain dominant due to its ongoing underground infrastructure investments, while European growth is primarily innovation-driven. North America maintains strong replacement demand, and Africa experiences rising penetration due to mining expansion in Zambia, Ghana, and South Africa.

North America

North America accounted for nearly 25% of global raise boring machine demand in 2024. Over 3,500 units were active across the U.S. and Canada. The U.S. remains the largest single-country market, with 2,100 operational machines primarily deployed in hard-rock mining and tunnel ventilation. High automation adoption—over 40% of new units—positions this region as a tech-forward segment. Replacement cycles are short, with 28% of users upgrading within 5 years. Canadian operations focus on mineral and rare earth mining in Ontario and Quebec, where shaft depths exceed 1,200 meters in some sites.

Europe

Europe's raise boring market accounted for around 25% of global volume in 2024, with over 3,000 units in operation. Germany, Sweden, and Poland lead the region, with extensive underground transport and mining sectors. Over 35% of European machines are used in civil infrastructure, including metros and utility access shafts. Approximately 30% of European machines are electrically powered, reflecting stricter emissions regulations. Shaft projects in Norway and Finland have seen an average diameter increase of 15% between 2022 and 2024, indicating higher-capacity requirements. EU grants for tunnel safety and smart mining contributed to rising automation integration.

Asia-Pacific

Asia-Pacific remained the leading region in 2024, contributing over 35% of global demand. China alone housed more than 4,000 active units, accounting for 25% of global installations. India added 1,200 new machines in 2024 to support metro rail and mining development. South Korea and Australia also showed significant activity, with a combined 1,500 machines in deployment. The demand surge corresponds with urban expansion and growing rare earth mining, especially in China’s Inner Mongolia and Sichuan regions. Average shaft diameters in Asia have increased by 20% in three years, reflecting deeper and more complex tunnel infrastructure needs.

Middle East & Africa

In 2024, the Middle East & Africa region captured about 15% of global market share. South Africa, Zambia, and Ghana collectively used more than 1,200 machines, with mining accounting for 85% of applications. The Middle East, led by Saudi Arabia and the UAE, used over 800 units in hydropower and utility tunnel projects. Shaft diameters in the region average between 1.5 to 3 meters, with depths of up to 600 meters. In Africa, refurbished units account for 32% of machine inventory, supporting growing demand at lower capital expenditure. Mining reforms and infrastructure development projects drive regional adoption upward.

List Of Raise Boring Machines Companies

Epiroc
Herrenknecht
TRB-Raise Borers
Palmieri Group
Terratec
Stu Blattner
KAMA Co.
KOKEN BORING MACHINE
Changzhou Liding Colliery Machinery
Chuangyuan High-Tech Machinery
Jining Zhuoli Industrial Equipment

Epiroc: As of 2024, Epiroc operated the largest share of the global market with more than 2,200 units sold across five continents. The company leads in automation, with over 40% of its models equipped with remote-control features.

Herrenknecht: With more than 1,800 raise boring machines deployed globally, Herrenknecht holds the second-largest market share. In 2024, it expanded its hybrid and electric-drive product lines, boosting efficiency by 25% in metro and mining shaft projects.

Investment Analysis and Opportunities

The raise boring machines market has witnessed heightened investment interest across OEMs, mining companies, and infrastructure developers. In 2024, over $2.8 billion was allocated globally to shaft construction equipment procurement and related services, of which raise boring systems accounted for a significant portion. Capital investments were distributed across equipment acquisition (around 45%), automation R&D (22%), and machine refurbishment and upgrades (approximately 15%). Major OEMs expanded production capabilities in 2023–2024, with at least five new manufacturing and assembly facilities established globally. Epiroc invested in a new manufacturing plant in India capable of producing 250 raise boring units per year, while Herrenknecht upgraded its German operations to support hybrid shaft excavation systems with electric drives, increasing capacity by 18%. The mining sector accounted for over 60% of all new machine purchases in 2024. Notably, over 200 new units were commissioned in South America, primarily in Peru and Chile, to support copper and lithium shaft operations. North America added more than 300 new units, supported by replacement demand in Canada’s aging mining infrastructure.

Private equity firms and institutional investors increased their footprint, with more than 15 investment funds globally backing tunnel technology startups and mid-tier manufacturers. Venture capital injections exceeded $150 million into AI-integrated boring technology platforms, primarily focused on optimizing shaft drilling speed, precision, and tool wear management. Leasing models are gaining traction as a cost-effective procurement strategy. In 2024, over 800 units globally were acquired under long-term leasing or rental agreements, reflecting a 20% rise over 2022 levels. This is particularly prevalent in urban metro projects in Asia-Pacific and civil construction in Europe. Emerging opportunities are visible in regions previously underpenetrated by raise boring equipment. Africa saw over 130% growth in shaft drilling activity between 2022 and 2024, with Zambia, South Africa, and Tanzania accounting for 70% of the region’s investments. In the Middle East, investment in vertical shaft excavation for underground utilities rose by 22% year-on-year. Furthermore, more than 40 mining companies introduced in-house R&D budgets for shaft automation between 2023 and 2024, reflecting the strategic importance of raise boring in overall production efficiency. As of 2024, approximately 18% of all capital allocation in underground development globally is now dedicated to vertical access methods, of which raise boring is the fastest-growing.

New Product Development

In 2023–2024, the raise boring machines industry experienced accelerated innovation with a strong emphasis on automation, hybrid power systems, and modular configurations. More than 25 new machine models were launched globally within the 24-month period, marking a 33% increase in new product introductions over the 2021–2022 cycle. Epiroc introduced the “E-Series RBM,” an electric-drive raise boring machine that achieves up to 35% energy savings compared to hydraulic models. This machine features AI-guided torque control and bore tracking, capable of producing shafts with diameters up to 5.5 meters and depths of 1,500 meters. By the end of 2024, over 80 units of this model had been sold, with deployment in Australia, Sweden, and the U.S. Herrenknecht launched its “RoboBore XT” line, featuring modular cutting heads and automatic reamer replacement systems. With precision accuracy within ±10 mm, the model significantly reduces alignment errors. More than 120 units were shipped across 10 countries in 2024 alone, mostly for civil construction and utility tunnels.

Palmieri Group developed a compact raise boring unit for tight underground environments. Weighing under 15 tons, the unit fits into shafts less than 3 meters wide. In 2024, over 60 units of the Palmieri Compact Series were sold, particularly in India, Italy, and Indonesia. A notable trend is dual-mode machines—equipment capable of both raise boring and tunnel boring. In 2024, six manufacturers introduced such hybrid models, with Terratec and TRB-Raise Borers delivering units in Chile and Kazakhstan. These systems are favored for remote mining sites where infrastructure is limited. Material science advancements also played a key role. Over 50% of new machines now include cutting heads made from titanium-carbide composites, extending tool lifespan by 40% over traditional steel alloys. Gearbox durability has improved, with mean time between failures increasing from 8,000 hours to 12,000 hours in the latest models. Digital integration was another major innovation front. Around 30% of new units shipped in 2024 included cloud-based diagnostics, telemetry alerts, and predictive maintenance platforms. KOKEN and Chuangyuan High-Tech Machinery led this segment in Asia, integrating mobile apps for real-time shaft boring updates. In terms of ergonomics, 90% of all new cabins released in 2024 were fully sealed, climate-controlled, and compliant with ISO Class 8 operator safety standards. Enhancements included digital operator interfaces with touchscreens, machine learning-based predictive alarms, and 360° shaft visualization tools for real-time shaft assessment.

Five Recent Developments

Epiroc launched the E-Series in Q2 2024, delivering 80+ units globally with AI-based torque systems and 35% energy efficiency gains.
Herrenknecht opened a new assembly facility in Germany in Q3 2023, increasing raise boring equipment production capacity by 18%.
Palmieri Group debuted its ultra-compact raise boring unit in early 2024, selling over 60 machines within six months across Asia and Europe.
Terratec delivered 15 dual-mode boring machines to South America in 2024, supporting hybrid shaft and tunnel drilling operations.
KAMA Co. implemented cloud-based maintenance diagnostics in 100+ units, achieving a 22% reduction in unplanned downtime during field trials in 2023–2024.

Report Coverage of Raise Boring Machines Market

This report provides detailed, data-rich coverage of the global raise boring machines market for the 2023–2024 period, with an extended outlook into 2025. The study spans comprehensive market segmentation by type (Raise-boring, Down-reaming, Box-holing) and by application (Underground Mining, Hydropower Projects, Civil Construction, Others). Each segment is quantified by volume deployment, unit installations, and technological adoption rates, using real-world data benchmarks. The report encompasses more than 15,000 machine deployments worldwide, with market size indicators defined by installation counts, operational capacities, bore diameter and depth ranges, automation levels, and power configurations (hydraulic vs. electric). Unit-level comparisons across brands and countries offer visibility into regional growth differentials, equipment age distribution, and replacement cycles.

With coverage of over 12 leading manufacturers, the study includes deep-dives into product innovation, modular design adoption, and the evolution of AI-based shaft optimization. The dataset includes tracking of 25+ new model launches and over 40 technology integration projects, as well as current and anticipated demand across mining, infrastructure, and power sectors. Geographic profiling includes North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. In total, over 60 countries are analyzed, with deployment data, regulatory factors, import-export activity, and infrastructure trends provided for each. For example, the report maps shaft boring activity across 4,000 kilometers of metro and rail development in Asia-Pacific, 1,500 meters depth mining shafts in Canada, and 600-meter utility access shafts in the Middle East. Quantitative insights also encompass automation trends, such as the global penetration of semi-autonomous machines rising from 6% in 2020 to 21% in 2024, and the increasing role of refurbished equipment in specific regions. The study provides analytical breakdowns of market constraints (e.g., cost inflation and workforce gaps) and evaluates over $2.8 billion in related investment. Included are detailed profiles of top vendors—such as Epiroc and Herrenknecht—highlighting installed base, product evolution, capacity expansion, and innovation leadership. A structured opportunity analysis showcases untapped markets, growth avenues in digital transformation, and strategies for OEMs targeting low-cost economies through leasing models. Altogether, the report delivers a complete, statistical, and strategic picture of the raise boring machines market, based entirely on factual insights and numerical metrics, ensuring value for stakeholders across engineering, procurement, operations, and capital planning teams.