Deep Hole Drilling Machines Market Size is projected to reach USD 1 billion by 2030, growing at a CAGR of 6.5%: Straits Research

Deep Hole Drilling Machines Market Size is projected to reach USD 1 billion by 2030, growing at a CAGR of 6.5%: Straits Research

The global deep hole drilling machines market was valued at USD 689 million in 2021. It is expected to reach USD 1 billion, growing at a CAGR of 6.5% during the forecast period (2022–2030). Asia-Pacific leads the global market for deep hole drilling machines and is expected to grow at a CAGR of 6.7% during the forecast period.

/EIN News/ — New York, United States, July 21, 2022 (GLOBE NEWSWIRE) — Deep hole drilling machines are made to drill holes that are more than ten times as deep as they are wide. These drilling machines can make holes as deep as 400:1 (depth to diameter ratio). These machines are used in many fields, where pieces of work need to be straight and well-drilled. Also, there are three main ways to drill a deep hole: by rotating the tool, by rotating the workpiece, or by rotating both the tool and the workpiece in the same direction.

The need for deep hole drilling machines to make mining equipment is driven by how important mining is. The demand for high-precision parts in machines and equipment is also driving the market for deep hole drilling machines. Also, using exegetical medical tools has increased the demand for deep hole drilling machines to make these exact surgical tools.

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Growing Demand for Heavy Machinery in the Mining Industry and High-Accuracy Parts in Machines Propel the Market

Deep hole drilling machines are used to make heavy tools like drilling rods, parts for rock drills, and drill bits for the mining industry. The growth of mining operations worldwide will likely drive the market’s growth. The need for mining is driven by a rise in the demand for metals and minerals and a rise in the use of natural resources like coal, diamonds, and uranium. Farmers will need more mineral fertilizers to make their crops grow better, so the market for mining equipment is also expected to grow. The growth of the global market is also likely to be helped by the demand for mining equipment with more advanced technology. Hence, increasing mining and building projects drive the need for deep hole drilling machines.

Parts made with very tight tolerances and high accuracy are being used in more and more machines and pieces of equipment. This makes them better, more efficient, and more reliable. Each product has a certain length, width, height, shape, and threading that must be met, or the final product will be flawed. Both big and small pieces of machinery need to be very accurate. Every company that makes things wants to make them perfect in every way. When businesses do not accurately measure and size their products, they lose time and money. High-accuracy parts are essential in the aerospace, military, and defense industries. In the aerospace industry, parts like landing gears, fuel injectors, and cylinders must be made with high accuracy.

Report Scope:

Report MetricDetails
  Market SizeUSD 1  Billion by 2030
  CAGR6.5% (2020-2030)
  Historical Data2019-2020
  Base Year2021
  Forecast Period2022-2030
  Forecast UnitsValue (USD Billion)
  Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments CoveredType, Operations and Regions
  Geographies CoveredNorth America, Europe, Asia-Pacific, LAME and Rest of the World
  Key Companies Profiled/VendorsEntrust Manufacturing Technologies Inc., Hong Ji Precision Machinery Ltd., Hochent Machinery Development Co. Ltd., KGD. Co. Ltd., Mollart Engineering Ltd, Cheto Corporation S A, Kennametal Inc., Frankor Hydraulics, Kays Engineering Inc., etc.
  Key Market OpportunitiesIncreasing Demand in the Major Emerging Countries
  Key Market DriversGrowing Demand for Heavy Machinery in the Mining Industry

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Increased Demand in the Major Emerging Countries Creates Tremendous Market Opportunities for Deep Hole Drilling Machines

Developing countries in Asia, Latin America, the Middle East, and Africa are becoming more industrialized quickly. When manufacturing grows, a country’s GDP increases, and foreign investors are more likely to invest there. Because developing countries like India and Brazil have a lot of workers and raw materials, many foreign investors have put money into their manufacturing industries.

For example, by 2022, the World Bank wants to invest more than USD 300 million in India and help set up more than 450 new factories. In the same way, the World Bank Group is trying to invest more than USD 900 million in Brazil’s manufacturing sector. In the future, these strategies will help the manufacturing industry in these economies, which will help the deep hole drilling machines market grow over the next few years.

Regional Analysis

Asia-Pacific leads the global market for deep hole drilling machines and is expected to grow at a CAGR of 6.7% during the forecast period. Due to industrialization, China and Japan will significantly share the Asia-Pacific region’s deep hole drilling machines market. Also, the aerospace, heavy equipment, and cars market is expected to grow in the Asia-Pacific region, which could be suitable for the deep hole drilling machines market.

Europe is expected to grow at a CAGR of 5.6%, generating USD 195 million during the forecast period. As European countries pay more attention to the oil and gas industry, demand for deep hole drilling machines will likely rise. The deep hole drilling machines market in Europe is also growing because of the changes in technology and higher standards for cars implemented.

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Key Highlights

  • The global deep hole drilling machines market was valued at USD 689.2 million in 2021. It is expected to reach USD 1.2 billion, growing at a CAGR of 6.5% during the forecast period (2022–2030).
  • Based on type, the global deep hole drilling machine market is classified into BTA Drilling Machines and Gun Drilling Machines. BTA Drilling Machines is the most dominant drilling machine and is expected to grow at a CAGR of 6.7% during the forecast period.
  • Based on operation, the global deep hole drilling machines market is segmented into CNC and Non-CNC. The CNC segment has a significant market share and is expected to grow at a CAGR of 6.7% during the forecast period.
  • The global deep hole drilling machines market is primarily segmented into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific leads the global market for deep hole drilling machines and is expected to grow at a CAGR of 6.7% during the forecast period.

The global deep hole drilling machines market’s major key players are –

  • Entrust Manufacturing Technologies Inc
  • Hong Ji Precision Machinery Ltd
  • Hochent Machinery Development Co. Ltd
  • Co. Ltd
  • Mollart Engineering Ltd
  • Cheto Corporation S A
  • Kennametal Inc
  • Frankor Hydraulics
  • Kays Engineering Inc

Global Deep Hole Drilling Machines Market: Segmentation

By Type

  • BTA Drilling Machines
  • Gun Drilling Machines

By Operations 

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

  

TABLE OF CONTENT

  1. Introduction

    1. Market Definition
    2. Market Scope
  2. Research Methodology

    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  3. Market Overview

    1. Report Segmentation & Scope
    2. Value Chain Analysis: Deep Hole Drilling Machines Market
    3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
    5. Market Share Analysis
  4. Type Overview

    1. Introduction
      1. Market Size & Forecast
    2. BTA Drilling
      1. Market Size & Forecast
    3. Machines
      1. Market Size & Forecast
  5. Operation Overview

    1. Introduction
      1. Market Size & Forecast
    2. CNC
      1. Market Size & Forecast
    3. Non-CNC
      1. Market Size & Forecast
  6. Regional Overview

    1. Introduction
      1. Market Size & Forecast
    2. America

      1. North America
      2. U.S.
        1. By Type
        2. By Operation
      3. Canada
        1. By Type
        2. By Operation
      4. Mexico
        1. By Type
        2. By Operation
      5. Latin America
        1. By Type
        2. By Operation
    3. Europe

      1. Market Size & Forecast
      2. Germany
        1. By Type
        2. By Operation
      3. France
        1. By Type
        2. By Operation
      4. U.K.
        1. By Type
        2. By Operation
      5. Italy
        1. By Type
        2. By Operation
      6. Spain
        1. By Type
        2. By Operation
      7. Rest of Europe
        1. By Type
        2. By Operation
    4. Asia Pacific

      1. Market Size & Forecast
      2. Japan
        1. By Type
        2. By Operation
      3. China
        1. By Type
        2. By Operation
      4. Australia
        1. By Type
        2. By Operation
      5. India
        1. By Type
        2. By Operation
      6. South Korea
        1. By Type
        2. By Operation
      7. Rest of Asia-Pacific
        1. By Type
        2. By Operation
    5. Middle East & Africa

      1. Market Size & Forecast
      2. Saudi Arabia
        1. By Type
        2. By Operation
      3. South Africa
        1. By Type
        2. By Operation
      4. Kuwait
        1. By Type
        2. By Operation
      5. Rest of Middle East & Africa
        1. By Type
        2. By Operation
  7. Company Profile

    1. Entrust Manufacturing Technologies Inc
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    2. Hong Ji Precision Machinery Ltd
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    3. Hochent Machinery Development Co Ltd
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
  8. Conclusion & Recommendation
  9. Acronyms & Abbreviations

Table of Content and Figure @   https://straitsresearch.com/report/deep-hole-drilling-machines-market/toc

Market News

  • In April 2022, Kennametal Inc entered the virtual world by introducing its products on a virtual reality platform.
  • In March 2022, Hong Ji Precision Machinery Ltd launched its new deep hole drilling machine ST-1500MA, which can also do milling operations.
  • In February 2022, Cheto Corporation SA introduced a new and innovative solution for the deep hole drilling systems that will revolutionize the industry.
  • In January 2022, Mollart Engineering Ltd acquired a significant manufacturing contract from the defense industry.

News Media:

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Hollow Concrete Blocks Market to Expand at a Remarkable Impressive CAGR During Estimated Period
Growing Technological Advancements in Medical Screws and Plates to Boost Demand
Asia-Pacific to Hold the Lion’s Share in the Household Hand Tools Market
Rising Use of PUF Panels in Construction Activities Drives the PUF Panel Market Growth
Asia-Pacific to Dominate the Industrial Drums Market

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Article originally published at https://www.einpresswire.com/article/582404135/deep-hole-drilling-machines-market-size-is-projected-to-reach-usd-1-billion-by-2030-growing-at-a-cagr-of-6-5-straits-research

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