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- Global Deep Hole Drilling Machines Market
Global Deep Hole Drilling Machines Market to Reach US$ 932.4 Million by 2032, Impelled by Increasing Applications Across Various Industries
September 15, 2022
| Heavy Industry
The latest report by IMARC Group, titled “Deep Hole Drilling Machines Market Report by Type (BTA Machines, Gun Drilling Machines, Skiving and Burnishing Machines), Operation (CNC, Non-CNC), Business Type (Original Equipment Manufacturer (OEM), Aftermarket), End-user Industry (Oil and Gas, Medical, Automotive, Construction and Mining, Energy, Aerospace, Military and Defense, and Others), and Region 2024-2032,” finds that the global deep hole drilling machines market size reached US$ 594.4 Million in 2023. Deep hole drilling machines are advanced metal-cutting tools designed to drill deep and precise holes into metals. They comprise a cutting tool or rotating drill fitted into the internal spindle taper, which is pressed at the desired location and inserted into the metal to create a hole with the required diameter. They are widely used to drill deep holes with accuracy, reliability, and efficiency and cut through various metals, such as alloy and stainless steel, aluminum, titanium, cast iron, and copper alloys. They facilitate multi-speed transmissions with multiple off-center holes for hydraulic sequencing and lubrication. As a result, deep-hole drilling machines are extensively used for manufacturing straight and precisely drilled workpieces.
Global Deep Hole Drilling Machines Market Trends:
The increasing product applications across various industries represent the primary factor driving the market growth. For instance, deep-hole drilling machines are widely used to manufacture automotive components, such as transmission shafts, engine blocks, camshafts, and airbag propellant chambers. In addition, there has been widespread product adoption to fabricate titanium and surgical-grade steel-based medical implants and surgical tools as the drill holes improve the structural integrity of the devices by providing a high strength-to-weight ratio and corrosion resistance. Along with this, the growing product usage in the production of heavy machinery for the mining industry due to the surging need for high-accuracy and reliable parts in equipment has augmented the demand for deep-hole drilling machines. Furthermore, several leading manufacturers are heavily investing in research and development (R&D) activities to launch innovative product variants with easy-to-use programming and better control over the drilling process. Moreover, the introduction of multi-purpose material removal machines comprising multiple cutting equipment in a single machine has propelled the market growth. Other factors, including the expanding automotive sector, escalating demand for orthopedic devices, increasing mining and construction projects, and rising automation and advancements in manufacturing processes, are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 932.4 Million by 2032, growing at a CAGR of 5% during 2024-2032.
Market Summary:
- The market has been segregated based on the type into BTA, gun drilling, and skiving and burnishing machines.
- Based on the operation, the market has been bifurcated into CNC and non-CNC.
- On the basis of the business type, the market has been classified as original equipment manufacturer (OEM) and aftermarket.
- The market has been segmented based on the end user industry into oil and gas, medical, automotive, construction and mining, energy, aerospace, military and defense, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being Cheto Corporation SA, Frankor Capital Corporation, Galbiati Costruzioni Meccaniche S.r.l., Hochent (Shanghai) Machinery Development Co. Ltd., HONG JI PRECISION MACHINERY LTD., I.M.S.A. S.r.l, Kays Engineering, Inc., Kennametal Inc., TIBO Tiefbohrtechnik GmbH, and UNISIG GmbH.
Report Scope:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Million |
| Segment Coverage | Type, Operation, Business Type, End-user Industry, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Cheto Corporation SA, Frankor Capital Corporation, Galbiati Costruzioni Meccaniche S.r.l., Hochent (Shanghai) Machinery Development Co. Ltd., HONG JI PRECISION MACHINERY LTD., I.M.S.A S.r.l, Kays Engineering, Inc., Kennametal Inc., TIBO Tiefbohrtechnik GmbH and UNISIG |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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