The Drilling Machine Market is a highly competitive industry that plays a vital role in various sectors such as construction, mining, oil and gas, and manufacturing. This market has seen significant growth in recent years, with the increasing demand for drilling machines in various applications. The drilling machine market is expected to continue growing as there is a continuous need for new infrastructure and construction projects.
The Drilling Machine Market accounted for $16.54 Billion in 2017, and is expected to reach $28.76 Billion by 2025, growing at a CAGR of 7.1% from 2018 to 2025.
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Top Companies
DATRON AG, DMG MORI, Dalian Machine Tool Group Corporation, SMTCL, Ernst Lenz Maschinenbau, Fehlmann AG, Cameron Micro Drill Presses, Gate Machinery International, Hsin Geeli Hardware Enterprise, and Alpen-Maykestag GmbH.
Drilling machine is used to enlarge or drill a cylindrical hole in a workpiece. It is composed of four major components the head, table, column, and base. The motor is attached on the head and spindle is fixed within the quill, which is moved by either manual or automatic feed. The table is mounted on the column, and is used to support the workpiece. The cast iron base supports the entire structure. These machines are basically used for gun drilling, trepanning, BTA drilling, ejector drilling, counterboring, and pull boring.
In addition, the increasing focus on renewable energy and the exploration of new oil and gas reserves also drives the demand for drilling machines. The market offers a wide range of drilling machines, including hand-operated, electric, hydraulic, and pneumatic drills.
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The deep hole drilling machine segment secured the highest share in the drilling machine market in 2017. The multiple spindle drilling machine industry is expected to grow at a highest CAGR during the forecast period. In terms application industries, heavy equipment sector is expected to contribute the highest market share in the coming years, as this industry needs to displace heavy vehicle and material handling equipment parts.
Moreover, increase in emphasis on military and defense sector is expected to provide lucrative growth opportunities to small players in the developing economies. The highest share in the drilling machine market, and is expected to continue this trend during the forecast period, owing to presence of the key manufacturing companies in the region.
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