Drilling Machines Market Size By Product (Sensitive Drilling Machine, Upright Drilling Machine, Radial Drilling Machine, Gang Drilling Machine, Deep Hole Drilling Machine, Multiple Spindle Drilling Machine), By Application & Global Forecast, 2023 – 2032

Industry Statistics

Drilling Machines Market size surpassed USD 22.5 billion in 2022 and is anticipated to expand at 5% CAGR from 2023 to 2032 backed by the rising demand for advanced drilling machinery and tools across the automobile sector.
 

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Over the past decade, automobile production and sales have increased substantially as a result of growing disposable income, and rapid urbanization. Moreover, new trends in the automotive sector such as eco-friendly technologies and zero-emission mobility will offer lucrative business prospects. To adhere to the stringent environmental and regulatory guidelines automakers are shifting to sustainable tools and equipment. Furthermore, new developments in sustainable drilling systems and environmentally friendly drilling fluids will enable significant industry growth. 

Volatile prices of raw materials are expected to limit product penetration in the forthcoming years. Due to several economic and political conflicts, raw material costs have been fluctuating. The industrial and manufacturing sectors in underdeveloped regions or businesses in their infancy stage are finding it difficult to procure high-cost components due to a lack of capital backing. Additionally, the dearth of robust labor networks with adequate technical skills required to operate machines could further affect the drilling machines market outlook.
 

Advent of Industry 4.0 to boost demand for drilling equipment

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Deep-hole drilling machine industry size is poised to be valued at USD 8.5 billion by 2032. This machine offers a wide variety of benefits with exceptional metal-cutting capabilities, high-precision drilling, and the ability to drill holes in any metal object. Manufacturers worldwide are leveraging these devices to access specialized equipment such as gun drills, and BTA for the optimization of deep hole drilling process. The ongoing race to industrialization and industrial revolution 4.0 is fostering demand for advanced drilling machines throughout an array of applications.
 

Increasing use of drills & other heavy equipment in manufacturing & packagin

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Drilling machines market from heavy equipment applications is poised to attain 5.5% gains between 2023 and 2032. Rapid urbanization and industrialization are responsible for the large-scale deployment of heavy equipment. Modern heavy machinery such as cutting & removing equipment is helping operators perform multiple tasks efficiently whilst minimizing errors. For instance, drug development facilities deploy advanced tools in their repair production equipment units to perform complex drilling procedures.
 

Asia Pacific to hold a notable share in the global drilling machines sector

Drilling machines industry in Asia Pacific is estimated to amass USD 13.5 billion by 2032. The expanding industrial sector, increasing construction activities, and booming manufacturing output will contribute to solid demand for drilling machines. APAC is home to countries such as India and China, which are experiencing swift industrialization. As per the U.S. Department of Commerce’s International Trade Administration, China has the world’s largest vehicle sector, expected to reach a domestic production of 35 million vehicles by 2025. Furthermore, the advent of EVs and the growing popularity of autonomous vehicles will augment the product demand in the region.
 

Global drilling machines market players

Some of the key companies include Dezhou Hongxin Machine Tool Co., Ltd., Shenyang Machine Tool Co., Ltd., Gate Machinery International Ltd, ERLO Group, Minitool, SMTCL, Kays Engineering, KURAKI Co., Ltd., Baileigh Industrial Holdings LLC, Cheto Corporation SA, Hypneumat, Inc., MODERN TOOLS MANUFACTURERS.
 

Recent Developments:

• February 2022: CHETO Corporation SA, an expert in CNC deep drilling & milling machines introduced a technical assistance service management application to reduce response time and enhance service quality. The application is designed to enable technicians, and engineers to streamline the process of remote assistance with the help of augmented reality (AR).
•  June 2020: Kays Engineering announced the acquisition of TechniDrill Systems. Inc., a leading supplier of gun drilling & BTA machines.

This market research report on drilling machines includes in-depth coverage of the industry with estimates & forecast in terms of volume in Million Units and revenue in USD million from 2018 to 2032 for the following segments:

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Market, By Product

• Sensitive Drilling Machine
• Upright Drilling Machine
• Radial Drilling Machine
• Gang Drilling Machine
• Deep Hole Drilling Machine
• Multiple Spindle Drilling Machine

Market, By Applications

• Aerospace
• Heavy equipment
• Automotive
• Energy industry
• Military & defense
• Oil & Gas
• Others

Market, By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Poland
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Thailand
  • Indonesia
• Latin America
  • Brazil
  • Argentina
• Middle East
  • UAE
  • South Africa
  • Saudi Arabia