The latest report by IMARC Group, titled “Deep Hole Drilling Machines Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global deep hole drilling machines market size reached US$ 528 Million in 2021. 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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$ 744.7 Million by 2027, growing at a CAGR of 4.8% during 2022-2027.
- 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.
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