Market Size of Broaching Machines Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 4.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Broaching Machines Market Analysis
The broaching machines market is expected to register moderate growth during the forecast period (2019-24). The growth of the market is majorly driven by the increasing demand from several end-user industries such as automotive, aerospace and others, across the world. Broaching remains one of the fastest methods of cutting production parts, which is primarily intended for high-volume production runs. The rising demand for high speed and accurate finishing process in the end-use sector is putting pressures on broaching machine manufacturers. To meet this demand, manufacturers are increasingly adopting advanced technology and automation. The automation of the production and related fabrication process help companies in gaining a competitive edge in the market and reduce their operational costs. CNC, servo, and software technology continue to improve and provide additional impact on power savings, high efficiencies, and high precision mechanical systems. The CNC broaching machines offer benefits such as energy savings and high precision during metal cutting, key formation, and gear making. There has been an improvement in the production of broach tools, which play a key role in the quality of the finished product.
According to industrial sources, in term of the overall equipment effectiveness, especially with the achievable qualities and profile areas of energy efficiency, electro-mechanical actuators are increasingly replacing the hydraulic drives. In recent times, CNC controls have paved the way to the elimination of hydraulics and replacing them with servo drives and ball screws for many applications. About half of the customer base considers an electro-mechanical machine for small to-mid-range applications. Furthermore, the market is also driven by the growing demand for the fabricated metal products, development of heavy industrial equipment, and advancement in the manufacturing processes. The metal fabrication market may be less prone to wild fluctuations than other industries, which will allow these conventional machining processes to grow moderately. For instance, in India, the annual growth rate of fabricated metal products production followed negative trend during the period 2013-15. Whereas, after 2015, the production rate witnessed positive trend with lesser growth rates. Worldwide, the machine tool cutting sector represented a major share in terms of production volume when compared to forming technology. The machine tool cutting sector comprises of lathes, drilling machines, broaching machines, boring machines, milling machines, etc.
Broaching Machines Industry Segmentation
A complete background analysis of the broaching machines market, which includes an assessment of the sector and contribution of sector in the economy, market overview, market size estimation for key segments, key regions and emerging trends in the market segments, market dynamics, and key production and consumption statistics are covered in the report.
| By Prodcut Type | |
| Vertical Broaching Machine | |
| Horizontal Broaching Machine | |
| Others |
| By End-user | |
| Automotive | |
| Fabrication and Industrial Machinery Manufacturing | |
| Aerospace & Defense | |
| Oil and Gas, and Energy | |
| Others |
| Geography | |
| Asia-Pacific | |
| North America | |
| Europe | |
| Latin America | |
| Middle East and Africa |
Broaching Machines Market Size Summary
The broaching machine market is poised for moderate growth, driven by increasing demand from key sectors such as automotive and aerospace. Broaching machines are essential for high-volume production runs, offering rapid and precise cutting capabilities. This demand is pushing manufacturers to adopt advanced technologies and automation, which help reduce operational costs and enhance competitive advantage. The integration of CNC, servo, and software technologies is improving energy efficiency and precision in mechanical systems. The shift from hydraulic drives to electro-mechanical actuators is also contributing to the market's evolution, particularly for small to mid-range applications. The market's growth is further supported by the rising demand for fabricated metal products and advancements in manufacturing processes, with the metal fabrication sector showing resilience against economic fluctuations.
The automotive industry significantly influences the broaching machine market, as these machines are crucial for manufacturing components like gears and transmission shafts. The development of hybrid and electric vehicles is increasing the demand for quieter and more efficient gear manufacturing, where broaching plays a vital role. Despite some challenges, the global automotive industry remains robust, with significant production growth expected, particularly in the Asia-Pacific region. China, with its vast manufacturing sector and leading automotive industry, is a key player in this growth. The ASEAN region is also emerging as a significant manufacturing hub due to its low operating costs and integration into global value chains. The market is characterized by a mix of large global players and smaller local companies, all striving to innovate and enhance the flexibility and accuracy of broaching processes.
Broaching Machines Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Current Market Scenario
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1.2 Market Dynamics
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1.2.1 Drivers
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1.2.2 Restraints
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1.3 Porter's Five Forces Analysis
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1.4 Industry Value Chain Analysis
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1.5 Global Manufacturing Sector (Overview, Trends, R&D, Key Statistics, etc.)
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1.6 Key Government Regulations and Initiatives for Manufacturing Sector
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1.7 Metal Working Industry Snapshot (Overview, Key Metrics, Developments, etc.)
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1.8 Technology Snapshot
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1.9 Insights on Electro-mechanical Broaching Machines and its Latest Developments
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1.10 Spotlight on Broach Tools (Overview, Different Types, Advancements, etc.)*
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1.11 *List not Exhaustive
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2. MARKET SEGMENTATION
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2.1 By Prodcut Type
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2.1.1 Vertical Broaching Machine
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2.1.2 Horizontal Broaching Machine
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2.1.3 Others
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2.2 By End-user
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2.2.1 Automotive
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2.2.2 Fabrication and Industrial Machinery Manufacturing
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2.2.3 Aerospace & Defense
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2.2.4 Oil and Gas, and Energy
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2.2.5 Others
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.2 North America
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2.3.3 Europe
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2.3.4 Latin America
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2.3.5 Middle East and Africa
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Broaching Machines Market Size FAQs
What is the current Broaching Machines Market size?
The Broaching Machines Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Broaching Machines Market?
American Broach & Machine Co, Axisco Precision Machinery Co., Ltd, Forst Technologie GmbH & Co. KG, Nachi-Fujikoshi Corp and Mitsubishi Heavy Industries, Ltd are the major companies operating in the Broaching Machines Market.
