According to a new report published by Allied Market Research, titled, “Deep Hole Drilling Machines Market by Type, Operation, End-user Industry, and Business type: Opportunity Analysis and Industry Forecast, 2020–2027,” the global deep hole drilling machines market size was valued at $611.1 million in 2019 and is projected to reach $784.1 million by 2027, registering a CAGR of 6.2% from 2020 to 2027.
inclusion of automation technologies has increased efficiencies of deep hole drilling machines. Minimal intrusion of human laborers reduces probability of human errors, which helps in production of precise and high-quality end products for user industries, including automobile, general machinery, and aerospace. In addition, government initiatives such as “Make in India” to boost the manufacturing industry is anticipated to provide lucrative opportunities for key players of the deep hole drilling machines market
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Deep hole drilling machines are specially designed for managing accurate counter-rotation for manufacturing of components, machines, and assembling parts. This is achieved by gun drilling process and BTA drilling process, which is chosen according to workpiece requirement. Holes are typically classified as deep holes, when its depth-to-diameter (D:d) ratio is more than 10:1 and can reach up to 100:1 or more. The main advantage of deep hole drilling machine is its ability of counter rotating tool and workpiece, which helps in achieving highly precise end results.
The COVID-19 pandemic has negatively affected the deep hole drilling machines market, owing to halt in international trade, prolonged lockdowns, and ceased manufacturing processes. In addition, major end-user companies located in countries such as the U.S., China, Germany, and the UK are also facing financial impacts, owing to halt in production, which is expected to hinder deep hole drilling machines market growth during 2020.
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The global deep hole drilling machines market is segmented on the basis of type, operation, end-user industry, business type, and region. By type, the market is divided into BTA drilling machines, gun drilling machines and skiving & burnishing machines. According to operation, it is categorized into CNC and non-CNC. By end-user industry, it is classified into oil & gas, medical, automotive, construction & mining equipment, energy, die & mold, aerospace, heat exchanger tube sheet, military & defense and others. On the basis of business type, it is bifurcated into OEM and aftermarket. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Russia, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Vietnam, South Korea, Thailand, Indonesia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
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Key Findings Of The Study
• By type, the gun drilling machines segment accounted for maximum share of the market in 2019.
• By operation, the CNC segment is anticipated to garner highest revenue during the forecast period.
• By end-user industry, the automotive segment generated highest revenue during 2019 in the deep hole drilling machines market.
• On the basis of business type, the OEM segment is expected to generate major market share during the study period.
• By region, Asia-Pacific accounted for largest deep hole drilling machines market share in 2019.
Key players :
Entrust Manufacturing Technologies, Inc (UNISIG), 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., Galbiati Costruzioni Meccaniche S.r.l., Loch Präzisions Bohrtechnik GmbH, Kennametal India Limited (WIDMA _Machining Solutions Group), Frankor Hydraulics, Kays Engineering Inc, and Precihole Machine Tools Pvt Ltd.
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