Drilling Machine Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Drilling Machine Market Analysis
The size of Drilling Machines market is USD 22.52 billion in the current year and is anticipated to register a CAGR of over 4% during the forecast period
- Taiwan-based machine tool makers recorded a total export value of USD 3.023 billion in 2022, increasing 8.6% on year, according to Taiwan Machine Tool & Accessory Builders' Association (TMBA). In 2021, China, Germany, and Japan were the powerhouses of machine tool industry worldwide. That year, China accounted for 31 percent of the world's machine tool production, while Germany and Japan each accounted for 13 percent. German manufacturers, VDW reported that new orders for machine tools increased 24% year-over-year during the second quarter of 2022, and 34% year-over-year for the first six months of 2022. For comparison, the U.S. machine tool orders rose 13.1% year-over-year during the first half of 2022. German machine-tool manufacturers' domestic orders from rose 35% during the first half of 2022, while foreign orders rose 33% during that time.
- From the first quarter of 2021, when lockdown restrictions were eased and factories and international trade were allowed to start up again, the global drilling machines industry slowly got back on its feet. The automobile industry is one of the major end-user segments of the machine tool market. Vehicle production slowed considerably as a result of the required shutdown following the outbreak of the COVID-19 virus.
- The growth of the market is primarily driven by the increasing demand from several end-user industries, such as automotive, aerospace, and others, across the world. Furthermore, the market is also driven by the growing demand for fabricated metal products, the development of heavy industrial equipment, advancements in manufacturing processes, and the adoption of the latest technologies. Moreover, the development of multi-purpose material removal machines, which consist of different cutting equipment in a single machine (like milling, drilling, etc.), has gained traction.
- The drilling machines market is a sub-segment of the machine tools market; the growth of the machine tool market is a positive sign for the market studied. China is the global leader in the machine tool market. Worldwide, the machine tooling sector represented a major share in terms of production volume when compared to forming technology. The machine tool cutting sector comprises lathes, drilling machines, boring machines, milling machines, etc.
- In addition, advancements in manufacturing machinery and government initiatives in the machine tool industry provide lucrative growth opportunities for the market. The heavy equipment segment is projected to dominate the market in the future due to an increase in demand for this equipment in the construction and manufacturing industries, where large-scale machined manufacturing requires precisely drilled holes for fittings and other connections. However, fluctuations in the prices of raw materials and a lack of skilled labor in the manufacturing sector hinder the growth of the drilling machine market globally.
Drilling Machine Market Trends
This section covers the major market trends shaping the Drilling Machines Market according to our research experts:
Rise in Demand for Drilling Machines in the Automotive Industry
The major factor boosting the growth of drilling machines is the increasing demand from the automotive industry. But since 2020, the global automotive sector has faced decreased demand and production halts resulting from the COVID-19 pandemic. According to industry sources, global light vehicle production units have been remarkable, and they only continue to grow. APAC is expected to register the highest growth rates in terms of production volumes, followed by North America. This scenario is expected to create demand for the drilling machines and other related machines associated with the manufacturing process.
In response to these automobile manufacturing, economic, and environmental/regulatory trends, the market is looking for innovations in turning and drilling, both machines and tooling. For instance, the Ultra T-A and Stealth Drill technologies enabled the low-pressure machines to perform dramatically better, on par with modern high-pressure coolant machines. Each insert can drill about 1200 holes, which is 3-6 times more than the old technology.
At present, there has been significant growth in the automotive industry because of the rising disposable income of people around the world. This rising income further improves the spending capacity of the global population. Thus, a noticeable growth in the automotive industry is predicted to create demand avenues in the drilling machine market shortly. These machines are used at an increased rate in the automotive industry. These drilling machines are commonly used for different drilling operations to fabricate automotive frames, cars, and others. Further, hole drilling is predicted to play a vital role in the manufacturing unit of the automotive industry. Hundreds of holes are drilled during the manufacturing of every vehicle, such as for camshafts, airbag propellants, engine blocks, transmission shafts, and many others.
So, based on how these products are being used more and more, the drilling machine market is expected to grow quickly over the next few years.
Asia-Pacific to Dominate the Drilling Machines Market
According to analysis, Asia-Pacific (APAC) is estimated to hold the highest market share in the current market studied. The region has the highest number of manufacturing plants, where the adoption of drilling machines is substantial. China is expected to be the major country in the region owing to its vast manufacturing sector. Additionally, automotive is one of China's pillar industries, and it continues to be the largest vehicle market in the world. In April 2022, around 210,000 commercial vehicles and 996,000 passenger cars were produced in China. During the month, the industry produced a total of 1.2 million vehicles, a decrease of 46.2 percent from the previous month and 46.1 percent year-over-year.
The economies in this region have low operating costs, which attract businesses from larger manufacturing bases and countries. In recent times, China has seen tighter regulations and rising wages, which have led to an increase in operating costs as it plans to shift toward higher-value manufacturing. Hence, to replace the role that China once used to play, companies are looking to the ASEAN region for lower-value production networks, which have also been largely integrated into global manufacturing value chains. As per the analysis, drilling machine manufacturers should align their distribution channels to focus on the growing markets by serving the emerging manufacturing sectors to increase their sales.
Rapid urbanization, industrialization, high disposable income, and increased R&D activities associated with technological advancement are some of the factors expected to fuel demand for drilling machines in the Asia-Pacific region.
Drilling Machine Industry Overview
The report covers major international players operating in the drilling machine market. The market is highly fragmented in nature, with large companies claiming significant market share.
Several key players work together, come up with new ideas, grow their businesses, win awards, and do other things to improve their products and stay competitive in the market.
Some of the key players in the drilling machines market are DMG MORI, Dalian Machine Tool Corporation, Shenyang Machine Tool Corp. Ltd. (SMTCL), ERNST LENZ Maschinenbau GmbH, Fehlmann AG, etc.
Drilling Machine Market Leaders
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DMG MORI
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Dalian Machine Tool Corporation
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Shenyang Machine Tool Corp Ltd (SMTCL)
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ERNST LENZ Maschinenbau GmbH
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Fehlmann AG
*Disclaimer: Major Players sorted in no particular order
Drilling Machine Market News
- December 2022: Komatsu Limited (a Japanese manufacturing company) announced that it has agreed to acquire GHH Group GmbH (GHH), a manufacturer of underground mining, tunneling, and special civil engineering equipment headquartered in Gelsenkirchen, Germany. This acquisition represents a great opportunity for Komatsu to expand its offerings for underground mining equipment and accelerate new product development through synergies with Komatsu's existing team and product offerings.
- November 2022: Nidec Corporation (a Japanese manufacturer and distributor) acquired PAMA (an Italian producer of machine tools) and its nine affiliate companies. The deal is estimated to be worth 15 billion yen (USD 108 million), according to reporting from Nikkei Asia. PAMA brought in over USD 124 million (118.3 million euros) in sales in 2021 and has production bases in Italy and China.
Drilling Machine Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumption and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
- 2.1 Research Framework
- 2.2 Secondary Research
- 2.3 Primary Research
- 2.4 Data Triangulation and Insight Generation
- 2.5 Project Process And Structure
- 2.6 Engagement Frameworks
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
- 4.1 Current Market Scenario
- 4.2 Technological Trends
- 4.3 Industry Value Chain Analysis
- 4.4 Global Manufacturing Sector (Overview, Trends, R&D, Key Statistics, etc.)
- 4.5 Key Government Regulations and Initiatives for Manufacturing Sector
- 4.6 Metal Working Industry Snapshot (Overview, Key Metrics, Developments, etc.)
- 4.7 Insights on Portable Drilling Machines and its Latest Developments
- 4.8 Spotlight on Drilling Tools (Overview, Different Types, Advancements, etc.)
- 4.9 Impact of COVID-19 on the Market
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4.10 Market Dynamics
- 4.10.1 Market Drivers
- 4.10.2 Market Restraints/Challenges
- 4.10.3 Market Opportunities
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4.11 Industry Attractiveness - Porter's Five Forces Analysis
- 4.11.1 Threat of New Entrants
- 4.11.2 Bargaining Power of Buyers/Consumers
- 4.11.3 Bargaining Power of Suppliers
- 4.11.4 Threat of Substitute Products
- 4.11.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Type
- 5.1.1 Sensitive Drilling Machine
- 5.1.2 Upright Drilling Machine
- 5.1.3 Radial Drilling Machine
- 5.1.4 Gang Drilling Machine
- 5.1.5 Multiple Spindle Drilling Machine
- 5.1.6 Deep Hole Drilling Machine
- 5.1.7 Other Types
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5.2 By End-user
- 5.2.1 Fabrication and Industrial Machinery Manufacturing
- 5.2.2 Aerospace
- 5.2.3 Heavy Equipment
- 5.2.4 Automotive
- 5.2.5 Energy Industry
- 5.2.6 Military & Defense
- 5.2.7 Oil & Gas
- 5.2.8 Other End-Users
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5.3 By Geography
- 5.3.1 North America
- 5.3.2 Europe
- 5.3.3 Asia-Pacific
- 5.3.4 Middle East and Africa
- 5.3.5 Latin America
6. COMPETITIVE LANDSCAPE
- 6.1 Overview (Market Concentration, Major Players)
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6.2 Company Profiles
- 6.2.1 DMG MORI
- 6.2.2 Dalian Machine Tool Corporation
- 6.2.3 Shenyang Machine Tool Corp Ltd (SMTCL)
- 6.2.4 ERNST LENZ Maschinenbau GmbH
- 6.2.5 Fehlmann AG
- 6.2.6 Gate Machinery International Limited
- 6.2.7 Hsin Geeli Hardware Enterprise
- 6.2.8 Kaufman Mfg. Co
- 6.2.9 LTF SpA
- 6.2.10 Minitool, Inc.
- 6.2.11 Roku-Roku Co, Ltd
- 6.2.12 Scantool Group
- 6.2.13 Taiwan Winnerstech Machinery Co, Ltd
- 6.2.14 Tongtai Machine & Tool Co, Ltd*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. APPENDIX
- 8.1 GDP Distribution, by Activity-Key Countries
- 8.2 Insights on Capital Flows-Key Countries
- 8.3 Economic Statistics Manufacturing Sector, Contribution to Economy (Key Countries)
- 8.4 Global Manufacturing Industry Statistics
Drilling Machine Industry Segmentation
A drilling machine is a powerful tool that is used to drill holes into harder surfaces that are impossible to perform with manual force. It is used to make holes in various materials, such as wood, aluminum, steel, and concrete. It comes in a variety of sizes, capacities, and purposes. These machines are used globally in the construction sector as well as for a variety of home repair and renovation activities because of their great efficiency and ease of use. It can also be used for excavation, fittings, and other connections in the building, manufacturing, and oil and gas industries.
The Drilling Machines Market is segmented by Type (Sensitive Drilling Machine, Upright Drilling Machine, Radial Drilling Machine, Gang Drilling Machine, Multiple Spindle Drilling Machine, Deep Hole Drilling Machine and Others), by End-user (Fabrication and Industrial Machinery Manufacturing, Aerospace, Heavy Equipment, Automotive, Energy Industry, Military and Defense, Oil and Gas and Others) and by Geography(North America, Latin America, Asia-Pacific, Middle East, and Africa, and Europe). The report offers market size and forecast values (USD billion) for all the above segments.
| By Type | Sensitive Drilling Machine |
| Upright Drilling Machine | |
| Radial Drilling Machine | |
| Gang Drilling Machine | |
| Multiple Spindle Drilling Machine | |
| Deep Hole Drilling Machine | |
| Other Types | |
| By End-user | Fabrication and Industrial Machinery Manufacturing |
| Aerospace | |
| Heavy Equipment | |
| Automotive | |
| Energy Industry | |
| Military & Defense | |
| Oil & Gas | |
| Other End-Users | |
| By Geography | North America |
| Europe | |
| Asia-Pacific | |
| Middle East and Africa | |
| Latin America |
Drilling Machine Market Research FAQs
What is the current Drilling Machines Market size?
The Drilling Machines Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Drilling Machines Market?
DMG MORI, Dalian Machine Tool Corporation, Shenyang Machine Tool Corp Ltd (SMTCL), ERNST LENZ Maschinenbau GmbH and Fehlmann AG are the major companies operating in the Drilling Machines Market.
Which is the fastest growing region in Drilling Machines Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Drilling Machines Market?
In 2024, the Asia-Pacific accounts for the largest market share in Drilling Machines Market.
What years does this Drilling Machines Market cover?
The report covers the Drilling Machines Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Drilling Machines Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Drilling Machine Industry Report
Statistics for the 2024 Drilling Machine market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Drilling Machine analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
