Global Deep Hole Drilling Machines Market Overview
The key driver impacting the deep hole drilling machines market is the rising production of automobiles creating a high demand for automotive parts requiring deep drilling. This creates huge investment in green building real estate companies. For instance, According to Crescendo Worldwide Organization, the automobile production across the globe in 2019 was anticipated as 92 MN Vehicles, and it is likely to grow by a CAGR of 20.78% by 2028, and it is estimated to reach $ 9 trillion by 2030. The International Organization of Motor vehicle manufacturers (OICA) report data, shows that in 2019, passenger car sales are climbed by 5% and reached 69.5 million units. Moreover, the growing focus of the manufacturers of orthopedic devices industry on the commoditization of devices, instruments, and delivery systems contributes to the deep hole drilling machines market growth in the coming years.
According to Value Market Research, the global Deep hole drilling machines market size was valued at around USD XX.X million in 2022 and is estimated to grow at a CAGR of about 6% during the forecast period 2023 to 2030.
The increase in the utilization of highly precise surgical tools in medical applications and the rise in the need for high accuracy parts in machines & equipment is likely to augment the demand in the forecast period. However, the lack of skilled labor and increased investment cost may hamper the market in the long run. Also, the frequently fluctuating raw material prices negatively impact the market. The current industry trends, such as the huge automation in the mining industry, technological advancements in manufacturing processes, and the mounting need to advance the end-product quality and high productivity, are expected to offer several lucrative market opportunities for the key players.
The Deep hole drilling machines market is vast, with many local and global players. The Deep hole drilling machines market is extensive, with many regional and international players. The important market leaders follow several strategies to raise their market status, such as extending product portfolio, acquisitions, expanding product portfolio, contracts, amalgamation, contracts, acquisitions, product upgrades to enlarge their market share across the globe. For instance, in November 2019, a German company, TIBO Tiefbohrtechnik GmbH, had introduced an advanced HMI gun drilling machine at the EMO exhibition of 2019. The significant players studied in the report include Entrust Manufacturing Technologies, Inc., Hochent (Shanghai) Machinery Development Co., Ltd. (HTT), HONG JI Precision Machinery Ltd., KGD. Co., Ltd., Mollart Engineering Limited , I.M.S.A. S.r.l., TBT Tiefbohrtechnik GmbH + Co., TIBO Tiefbohrtechnik GmbH, Cheto Corporation S.A., Galbiati Costruzioni Meccaniche S.r.l., Cheto Corporation S.A., Loch Präzisions Bohrtechnik GmbH, Precihole Machine Tools, Kennametal Inc., (WIDMA- Machining Solutions Group), Kays Engineering, Inc.
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In this research report, the Deep hole drilling machines market is segmented by type, operation, end-user, and region.
Analysis by Type:
By Type, the report is categorized into BTA machines, skiving & burnishing machines, and gun drilling machines. The BTA Machines segment dominates the type segment with over 30% in the forecast period. It is due to their technological benefits, such as BTA drilling can accomplish drill feed rates of usually 5-7 times faster than gun drilling at the same diameter. It is due to the more efficient chip exhaust, tool design, and advanced machine design and power, thus contributing to high demand for BTA Machines across industries in the forecast period.
Analysis by Operation:
By operation, the report is categorized into CNC and Non-CNC. The CNC sectors segment dominates the operation segment with over 40% share in 2020. There is a massive demand for CNC machining. It can produce a wide range of metal components utilized across several industries as it gives consistent, accurate, and complex cuts contributing to the growth of the CNC segment growth in the forecast period.
Analysis by End-User:
By end-user, the report is categorized into oil & gas, medical, automotive, construction & mining equipment, energy, die & mold, aerospace, heat exchanger tube sheet, military & defense, and others. The oil & gas sectors segment dominates the end-user segment with over 25% share in 2020. It is due to extensive utilization in the oil and gas industry. Moreover, growing oil and gas exploration activities and high demand for oil and gas contributes to the high demand for deep hole drilling machines from the oil and gas sector in the forecast period.
Analysis by Region:
In the regional outlook of the global Deep hole drilling machines market, the Asia Pacific region dominates globally with a 25% market share in the forecast period. It is due to the high number of manufacturing plants where there is massive adoption of drilling machines for various operations. There are well-established manufacturing sectors and China and India. Moreover, India and China's growing automotive and construction sector would encourage the high demand for deep hole drilling machines in this region, contributing to tremendous market growth across the Asia Pacific.
Market Segmentation covered in the Report:
By Type
- BTA Machines
- Gun Drilling Machines
- Skiving & Burnishing Machines
By Operation
By End-User
- Oil & Gas
- Medical
- Automotive
- Construction & Mining Equipment
- Energy
- Die & Mold
- Aerospace
- Heat Exchanger Tube Sheet
- Military & Defense
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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