Deep Hole Drilling Machines Market by Type (BTA Machines and Gun Drilling Machines), Operation (CNC and Non-CNC), and Application (Automotive, Aerospace & Defense, General Machinery, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027
The global deep hole drilling machines market size is expected to reach $654,679.44 thousand in 2027, from $519,028.30 thousand in 2019, growing at a CAGR of 5.8% from 2020 to 2027. Deep hole drilling machines are especially designed for drilling deep holes, that is, holes with depth-to-diameter (D:d) more than 10:1. In addition, deep holes up to 400:1 D:d ratio can also be obtained using deep hole drilling machines. It finds application across various industries which require straight and accurately drilled workpieces. Moreover, deep hole drilling can be achieved by three basic processes namely, rotating tool, rotating workpiece, and counter-rotating tool and workpiece.
Increase in focus on e-mobility and cost-effective production of automobile parts drive the demand for deep hole drilling machines in automobile manufacturing. The technological developments in e-mobility and rise in inclination toward it has resulted in expansion of electric vehicle industry significantly. Surge in demand for electric vehicles propels the manufacturing process, which in turn drives the growth of deep hole drilling machines market. Moreover, the accuracy of drilling obtained by deep hole drilling machines drive their demand in the medical industry for manufacturing of highly precise surgical tools. Deep hole drilling machines are extremely powerful, which enable them for use in critical applications such as producing medical implants. Thus, the high efficiency of deep hole drilling machines propels their requirement in the ever-growing medical industry, which in turn drives the growth of the deep hole drilling machines industry. Furthermore, inclusion of automation technologies in deep hole drilling machines has assisted in achieving highly precise manufacturing processes. Features such as flexible automation, automatic tray handling, automatic pellet changing, and others reduce the manufacturing time as well as help in reducing wastage of material. This in turn reduces the manufacturing costs and high productivity, which boosts the growth of the deep hole drilling machines market.
However, unavailability of skilled labor in the manufacturing industry is one of the important restraining factors for the growth of deep hole drilling machines market. Deep hole drilling machines have complicated configurations and achieving desirable results requires extensive training of the operator. Hence, the lack of skilled labor restrains the growth of the market. Moreover, fluctuations in raw material prices also hinders the growth of the deep hole drilling machines market significantly.
On the contrary, advancements in manufacturing machinery and industrial automation is anticipated to create a demand for highly precise deep hole drilling machines; thereby, creating opportunities for the growth of deep hole drilling machines market.
The global deep hole drilling machines market is segmented on the basis of type, operation, application, and region. Based on type, the deep hole drilling machines market is bifurcated into BTA machines and gun drilling machines. According to operation, the global deep hole drilling machines market is categorized into CNC and non-CNC. By application, the market is classified into automotive, aerospace & defense, oil & gas, and others.
The global deep hole drilling machines market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific is expected to hold the largest market share throughout the study period, and LAMEA is expected to grow at the fastest rate.
COMPETITION ANALYSIS The key market players profiled in the report include botek Präzisionsbohrtechnik GmbH, Entrust Manufacturing Technologies, Inc., HONG JI Precision Machinery Ltd., Hochent (Shanghai) Machinery Development Co., Ltd. (HTT), KGD. Co., Ltd. (Korea Gundrill), I.M.S.A. S.r.l., Mollart Engineering Limited, TBT Tiefbohrtechnik GmbH + Co., TIBO Tiefbohrtechnik GmbH, and Cheto Corporation S.A.
Many competitors in the deep hole drilling machines market adopted product launch as their key developmental strategy to expand their geographical foothold and upgrade their product technologies. For instance, in November 2019, the company TIBO Tiefbohrtechnik GmbH based in Germany launched the HMI gun drilling machine at the EMO 2019 exhibition. The new machine includes operable 15” touch panel, which enables easy-to-use programming and better supervision over the drilling process. The product launch is aimed at enhancing TIBO’s product portfolio globally. Similarly, in May 2020, the company UNISIG, a subsidiary of Entrust, launched two new models to its USC-M series of deep hole drilling machines. The models include USC-2M and USC-3M, which can perform both milling and gun drilling functions. The product launch is aimed at enhancing UNISIG’s product offering is an effort for committing toward consumer needs.
KEY BENEFITS FOR STAKEHOLDERS - The report provides an extensive analysis of the current and emerging global deep hole drilling machines market trends and dynamics.
- In-depth analysis of the market is conducted by constructing market estimations for the key market segments between 2019 and 2027.
- Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive deep hole drilling machines market opportunity analysis of all the countries is also provided in the report.
- The global deep hole drilling machines market forecast analysis from 2020 to 2027 is included in the report.
- The key players within the market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the industry.
GLOBAL DEEP HOLE DRILLING MACHINES MARKET SEGMENTS
BY TYPE • BTA Drilling Machines
• Gun Drilling Machines
BY OPERATION • CNC
BY APPLIACTION • Automotive
• Aerospace & Defense
• General Machinery
BY REGION • North America
o The UK
o Rest of Europe
o Rest of Asia-Pacific
o Latin America
o Middle East
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