Report Ocean recently published a new report on the global deep hole drilling machines market, titled “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 was valued at US$5.19 bn in 2019. Expanding at a CAGR of 5.8% during the period from 2020 and 2027, the market is likely to reach US$6.54 bn by the end of the forecast period.
The increasing focus on e-mobility and cost-efficient manufacturing of automobile parts is driving the demand for deep hole drilling machines in the automotive industry. Unique features, such as flexible automation, automatic tray handling, and automatic pellet changing, reduce the production duration and also help in decreasing wastage of material. This, in turn, reduces the production costs and increases productivity, which mirrors on the growth of this market.
Going forward, the accuracy of drilling that deep hole drilling machines offer is expected to drive their demand in the medical devices sector for the production of highly precise surgical equipment over the next few years. On the other hand, the dearth of skilled labor in the manufacturing industry may limit the growth of this market in the years to come. Nonetheless, advancements in manufacturing machinery and industrial automation is projected to create a demand for highly precise deep hole drilling machines; thereby, creating opportunities for the growth of deep hole drilling machines market.
Impact of Covid 19 on Global Deep Hole Drilling Machines Market
Like many other industries, the global deep hole drilling machines market has also witnessed drastic downfall due to the Coronavirus pandemic. As many governments imposed lockdown, manufacturing units were shut, hampering the production of deep hole drilling machines for quite a few months. However, now as the economies are opening up slowly, this market is also expected to start functioning at its regular pace very soon.
Demand for Gun Drilling Machines Higher than BTA Machines
The report assesses the global deep hole drilling machines market on the basis of the type, operation, application, and the region. Based on the type, the market has been bifurcated into BTA machines and gun drilling machines. The gun drilling machines segment leads the global market. As per the operation, the market has been categorized into CNC and non-CNC. By application, the market has been classified into the automotive, aerospace and defense, oil and gas, and several other sectors.
Asia Pacific to Retain Leadership
In terms of the region, the report analyzes the worldwide deep hole drilling machines market across North America, Europe, Asia Pacific, and LAMEA. Asia Pacific has surfaced as the key region al market for deep hole drilling machines across the world. Researchers expect this market to remain dominant and the LAMEA market to register the highest growth rate among all throughout the forecast period.
The global deep hole drilling machines market is segmented into:
- BTA Drilling Machines
- Gun Drilling Machines
- Aerospace & Defense
- General Machinery
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Middle East
Companies Mentioned in the Report
- 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
- Cheto Corporation S.A.
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