NEW YORK, March 22, 2022 (GLOBE NEWSWIRE) -- The Worldwide Deep Hole Drilling Machines Market is likely to increase at a CAGR of over 6% throughout the forecast period, reaching a market value of over USD 995 million by 2028.
Drilling is the most common method for making holes in metal materials. With an increased hole depth in the drill, the demands rise on both machine and tool. Deep hole drilling is an intricate process with a high material removal rate and hole accuracy. Deep hole drilling is used in a variety of industries, but its origins can be traced back to the call for drilling extremely accurate and precisely straight gun barrels, where the depth-to-diameter ratio can exceed 20:1. Deep hole drilling obliges the use of special cutting tools that allow for a greater amount of coolant to be flowed into and out of the hole to evacuate chips. Most deep hole drilling applications necessitate the use of specialized machines to accommodate the specialized tooling. Deep hole drilling can use a rotating workpiece, a rotating tool, or both a rotating tool and a rotating workpiece. Furthermore, these are used to drill holes with depth-to-diameter ratios (D:d) greater than 10:1 and as high as 400:1.
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Global Deep Hole Drilling Machines Market Dynamics
One of the key factors driving a positive outlook for market growth is significant growth in the automotive industry around the world. Deep hole drilling machines are commonly used in the production of automotive components such as transmission shafts, camshafts, and engine blocks. Furthermore, the widespread use of deep hole drilling machines in the manufacturing of surgical-grade healthcare and surgical tools as well as titanium is propelling the market growth. Drill holes contribute to the structural integrity of tools by providing a high strength-to-weight ratio and corrosion resistance. A variety of innovative products, such as the increasing use of multi-purpose material removal machines, which combine multiple cutting tools in a single machine, are also contributing to market growth. Other factors, such as rapid industrialization, increasing automation adoption, and advancements and improvement in manufacturing processes, are expected to drive the market forward.
Furthermore, the COVID-19 pandemic has halted production and sales of deep hole drilling machines, owing to extended lockdowns in major global countries such as the United States, China, and Japan. This has significantly slowed the deep hole drilling machines market growth in 2020.
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Deep hole drilling machines increasing used in medical industry propels the industry growth
In the medical industry, deep-hole drilling machines are used to drill 2.5-mm-diameter holes 200-mm-deep in titanium and stainless steel components. While the 80:1 ratio is a challenge, it is the required tight tolerances for diameter and straightness that make the process a real challenge one that can only be handled by a deep-hole drilling machine. Medical implants are an extremely important application for deep hole drilling. These implants are distinguished by the use of surgical-grade titanium and steel supplies. Titanium is a biocompatible material, but drilling into it is difficult. This challenge is eliminated by deep hole drilling machine tool manufacturing experience. However, these machines allow for the drilling of long, precise holes with relatively extraordinary drilling parameters. This equipment are used to drill holes in components such as femoral nails, tibial nails, bone screws, and surgical instruments.
Regional Overview
North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global deep hole drilling machines market. Due to the existence of machine markets that are manufactured on a large scale to meet industry demand, Asia-Pacific accounts for the largest share of the global deep hole drilling machine market and is expected to grow at a significant CAGR. China has led the market in deep hole drilling machines and will have the largest market share during the forecast period. Furthermore, the China market is experiencing significant growth as a result of the region's machine manufacturing industry's development.
Market Segmentation
The global deep hole drilling machines market has been segmented by Acumen Research and Consultancy based on types, operation, end-user and business type. Based on the types, the market is divided into gun drilling machines, BTA machines, and skiving & burnishing machines. Based on operation, the market bifurcated into CNC, and Non-CNC. Based on end-user, the market is classified into automotive, oil & gas, medical, aerospace, mining & construction equipment, die & mold, energy, military & defense, and other end-users. Based on the business type, the market is divided into original equipment manufacturer (OEM), and aftermarket.
Major Players
Some major players covered in the global deep hole drilling machines market are Dezhou Guanlu Precision Machinery Co., Ltd, Entrust Manufacturing Technologies, Inc., Imenco AS, UNISIG GmbH, I.M.S.A S.r.l, HONG JI Precision Machinery Ltd., TBT Tiefbohrtechnik GmbH + Co, Kennametal Inc., Loch Präzisions Bohrtechnik GmbH, Mollart Engineering Ltd., TIBO Tiefbohrtechnik GmbH, and others.
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