Dublin, Nov. 19, 2024 (GLOBE NEWSWIRE) -- The "Drilling Machines - A Global Market Overview" report has been added to ResearchAndMarkets.com's offering.
The global market for Drilling Machines is estimated at US$27.4 billion in 2024 and is anticipated to post a CAGR of 6.6% during the 2024-2030 analysis period and stand at a projected US$40.2 billion by 2030.
This global report on Drilling Machines analyzes the market based on type and end-use sector. In addition to providing profiles of major companies operating in this space, the latest corporate and industrial developments have been covered to offer a clear panorama of how and where the market is progressing.
The demand for Drilling Machines is expected to maintain healthy growth over the analysis period, which can be attributed to factors that include growth in infrastructure & construction activities, increase in manufacturing operations and rise in demand from the automotive industry because of a sustained increase in light vehicle production. Oilwell exploration for adding to the rapidly depleting fossil fuel resources is another reason for maintaining demand for drilling machines. Also, automated and computed numerical control (CNC) drilling machines are being more widely utilized because of the need for enhanced precision and efficiency in drilling operations.
Drilling Machines Type Market Analysis
By type, Drilling Machines are primarily classified into Deep Hole Drilling Machines, Gang Drilling Machines, Multiple Spindle Drilling Machines, Portable Drilling Machines, Radial Drilling Machines, Sensitive Drilling Machines and Upright Drilling Machines, among others (incl. Magnetic Drilling Machines).
Within these, the global market for Deep Hole Drilling Machines is the largest, as these are specialized metal cutting devices that can provide extremely deep and precise holes into almost any metal. Despite its heavy cost, the significance of a Deep Hole Drilling Machine in various sectors, such as aerospace, automotive and oil & gas, cannot be discounted. As far as growth is concerned, though, the worldwide market for Multiple Spindle Drilling Machines is likely to emerge as the fastest.
Drilling Machines End-Use Sector Market Analysis
The primary end-use sectors where Drilling Machines are widely employed include Aerospace & Defense, Automotive, Construction, Energy, Fabrication & Industrial Machinery Manufacturing, Heavy Equipment and Oil & Gas, among others. Within these, the demand for Drilling Machines is the largest for Heavy Equipment, which incudes excavators, loaders, graders, pavers, bulldozers, dump trucks, compactors and earth moving equipment, to name a few.
However, the market for drilling machines in the Automotive sector is anticipated to register the fastest growth. The number of vehicles being produced globally has been recording a steady growth following the forced shutdown during the pandemic. Owing to this, the need for precisely made components in this industry has grown considerably, for which drilling machines are essential.
Drilling Machines Regional Market Analysis
Other than being the largest global market for drilling machines, Asia-Pacific is also likely to be the fastest growing. The region has been witnessing an unprecedented rate of industrial development over the past few years. The major factors for this include availability of comparatively inexpensive labor and resources, owing to which several global corporations have set up or are in the process of setting up operations in the region. Asia-Pacific is also home to well-established automotive and electronics industries, where the use of drilling machines is quite common.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 276 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $27.4 Billion |
| Forecasted Market Value (USD) by 2030 | $40.2 Billion |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Global |
Key Metrics
- Historical Period: 2021-2023
- Base Year: 2023
- Forecast Period: 2024-2030
- Units: Value market in US$
- Companies Mentioned: 45+
Key Global Players
- Alpen-Maykestag GmbH
- Atlas Copco
- Boart Longyear
- Cameron Micro Drill Presses
- Caterpillar
- Cheto Corporation SA
- Chuan King Sang Machinery Co Ltd
- Dalian Machine Tool Group Corp (DMTG)
- Datron AG
- Dezhou Hongxin Machine Tool Co Ltd
- DMG Mori
- Entrust Manufacturing Technologies, Inc. (UNISIG)
- Epiroc AB
- ERLO Group
- Ernst Lenz Maschienbau GmbH
- Fehlmann AG
- Galbiati Costruzioni Meccaniche S.r.l.
- Gate Machinery International Ltd
- Hitachi Construction Machinery Ltd
- Hochent (Shanghai) Machinery Development Co. Ltd
- Hong Ji Precision Machinery Ltd
- Hsin Geeli Hardware Enterprise
- I.M.S.A. S.r.l.
- Ingersoll Rand
- Kaufman Mfg. Co
- Kays Engineering, Inc.
- Kennametal, Inc. (Widma Machining Solutions Group)
- Kuraki Co Ltd
- LTF SpA
- Liebherr Group
- Loch Prazisions Bohrtechnik GmbH
- Minitool, Inc.
- Mitsubishi Heavy Industries ltd.
- NewTech Drilling Products LLC
- Robert Bosch GmbH
- Roku-Roku Co Ltd
- Sandvik AB
- Scantool Group
- Shenyang Machine Tool Co Ltd
- Shenyang Machine Tool Corp Ltd (SMTCL)
- Soilmec S.p.A.
- TBT Tiefbohrtechnik GmbH + Co
- Taiwan Winnerstech Machinery Co Ltd
- TIBO Tiefbohrtechnik GmbH
- Tongtai Machine & Tool Co Ltd
- UNISIG GmbH
- Yamazaki Mazak Pvt Ltd
Drilling Machines Market by Geographic Region
- North America (The United States, Canada and Mexico)
- Europe (France, Germany, Italy, Russia, Spain, The United Kingdom and Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific)
- South America (Argentina, Brazil and Rest of South America)
- Middle East & Africa
Drilling Machines Market by Type
- Deep Hole Drilling Machines
- Gang Drilling Machines
- Multiple Spindle Drilling Machines
- Portable Drilling Machines
- Radial Drilling Machines
- Sensitive Drilling Machines
- Upright Drilling Machines
- Other Drilling Machines (Incl. Magnetic Drilling Machines)
Drilling Machines Market by End-Use Sector
- Aerospace & Defense
- Automotive
- Construction
- Energy
- Fabrication & Industrial Machinery Manufacturing
- Heavy Equipment
- Oil & Gas
- Other End-Use Sectors
For more information about this report visit https://www.researchandmarkets.com/r/ajyyak
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