The worldwide deep hole drilling machines market accounted for US$ 627 Mn in 2020 and is expected to reach US$ 995 Mn by 2028 with a considerable CAGR of 6% during the forecast period of 2021 to 2028.
A deep hole drilling machine is a metal cutting machine that can drill very deep, precious holes into almost any metal. Deep hole drilling machines allow specific tools, such as gun drills and BTA, to be used to boost the deep hole drilling operations for manufacturing. Machines are designed to incorporate the technology used by those tools and optimize all aspects of the process so that deep holes can be drilled with accuracy, reliability, and efficiency. Deep hole drilling equipment are suitable for a variety of sizes do deep holes and production rates and are required for holes with a depth-to-diameter ratio of 20:1 or greater.
Increasing demand for automotive parts is driving the market growth
Rising benefits in the manufacturing of surgical tooling and medical implants are propelling the market growth
The lack of skilled labor is likely to stymie the growth of the deep hole drilling machines market
Increased automation adoption, advancements in manufacturing processes, as well as the growing need to improve end-product quality and achieve high productivity are expected to provide lucrative growth opportunities for deep hole drilling machines market participants.
|Market||Deep Hole Drilling Machines Market|
|Market Size 2020||US$ 627 Mn|
|Market Forecast 2028||US$ 995 Mn|
|CAGR||6% During 2021 - 2028|
|Analysis Period||2017 - 2028|
|Forecast Data||2021 - 2028|
|Segments Covered||By Type, By Operation, By End-User and By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Dezhou Guanlu Precision Machinery Co., Ltd, Entrust Manufacturing Technologies, Inc., Imenco AS, UNISIG GmbH, I.M.S.A S.r.l, HONG JI Precision Machinery Ltd., TBT Tiefbohrtechnik GmbH + Co, Kennametal Inc., Loch Präzisions Bohrtechnik GmbH, Mollart Engineering Ltd., TIBO Tiefbohrtechnik GmbH, and others.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
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Auto manufacturing benefits from deep hole drilling
The auto industry's future is intriguing but uncertain. Nobody knows how completely, or quickly electric vehicles will replace diesel and gasoline vehicles, or when it will happen in passenger cars rather than SUVs and heavy vehicles. Thus, technology developed for high-performance vehicles years ago is now becoming accepted. However, deep hole drilling is one superior manufacturing technology that enables the low-cost production of key aspects of those performance-enhancing automotive parts. Liquid sodium flows and draws heat from the valve head through holes drilled the length of the valve stem in sodium-filled valves, for example. Precision deep hole drilling procedures can be used to create hollow and energy-efficient camshafts. As a result, the main drivers of deep hole drilling machine design are flexibility and spindle utilization.
Market By Type
Based on the type, the BTA machines segment is expected to have the largest deep hole drilling machines market share over the forecast period. BTA drilling uses a specialized drilling tool attached to a long drill tube to create deep holes in metal, with diameters ranging from 20 mm [0.80 in] and up to depth-to-diameter ratios of 400:1. BTA drilling is the most efficient method of drilling deep holes because it is a cleaner, more reliable, and more capable process than regular twist drills and it can achieve larger diameters and higher feed rates than gun drilling. Furthermore, due to the tool design, more efficient chip exhaust, and machine design and power, BTA drilling can reach 5-7 times faster drill rates as compared to gun drilling at the same diameter.
Market By Operation
CNC drilling is a type of machining that uses a rotating cutting tool to create round holes in any stationary workpiece. The holes are typically drilled to accommodate machine screws or bolts used in assembly. Drilling machines equipped with CNC technology can produce holes with extremely close tolerances to the original design file. Furthermore, CNC drilling units can be used on a variety of materials, including metal, plastic, and any natural materials. Additionally, they can also be used to make a variety of holes due to their ability to accommodate multiple drill bits.
Market By End-User
Deep hole drilling machines are essential in the production of aerospace components. Exotic materials such as Inconel and titanium alloys require highly accurate deep hole drilling in the aerospace industry. In recent years, UNISIG has expanded its product line to include deep hole drilling machines that can handle these materials with precision, as well as unusually shaped aerospace components. These machines are designed with features that allow them to perform precision and efficient aerospace drilling. This trend is primarily driven by the aerospace industry, where many high-value components, particularly landing gear, necessitate deep hole machining.
Market By Business Type
Original equipment manufacturer (OEM) means that the parts are manufactured by the same company that manufactures the machine. However, aftermarket parts are formed by a different company and are frequently designed to be well-suited with as many different products and models as possible. Aftermarket parts do not always fit as well as OEM parts due to design differences and sizing errors. One reason aftermarket parts are less expensive is that they are not always made of the same high-quality materials as OEM parts. These inferior materials can cause aftermarket parts to fail, thus the OEMs are driving the market.
Deep Hole Drilling Machines Market Regional Overview
Middle East & Africa
Asia-Pacific is expected to grow at a significant rate during the forecast period, maintaining its dominant position in 2020, owing the largest consumer of deep hole drilling, as well as the industry leader in the entire deep hole drilling industry. Furthermore, significant growth in the automotive industry across the Asia Pacific is one of the key factors influencing the market growth. However, deep hole drilling machines are widely used in the manufacturing of various automotive components such as camshafts, airbag propellant chambers, engine blocks, and transmission shafts. Furthermore, in the medical industry, the widespread use of drilling machines in fabrication of titanium and surgical-grade healthcare and surgical equipment is propelling market growth in the Asia Pacific.
Some of the key players in global deep hole drilling machines market are Dezhou Guanlu Precision Machinery Co., Ltd, Entrust Manufacturing Technologies, Inc., Imenco AS, UNISIG GmbH, I.M.S.A S.r.l, HONG JI Precision Machinery Ltd., TBT Tiefbohrtechnik GmbH + Co, Kennametal Inc., Loch Präzisions Bohrtechnik GmbH, Mollart Engineering Ltd., TIBO Tiefbohrtechnik GmbH, and others.
The estimated value of global recycled carbon fiber market in 2020 was accounted to be US$ 627 Mn and market projected to reach US$ 995 by 2028
The projected CAGR of deep hole drilling machines during the analysis period of 2021 to 2028 is 6%.
The prominent players of the global deep hole drilling machines market involve Dezhou Guanlu Precision Machinery Co., Ltd, Entrust Manufacturing Technologies, Inc., Imenco AS, UNISIG GmbH, I.M.S.A S.r.l, HONG JI Precision Machinery Ltd., TBT Tiefbohrtechnik GmbH + Co, Kennametal Inc., Loch Präzisions Bohrtechnik GmbH, Mollart Engineering Ltd., TIBO Tiefbohrtechnik GmbH, and others.
Asia Pacific held the dominating share for deep hole drilling machines during the analysis period of 2021 to 2028
North America region exhibited fastest growing CAGR for deep hole drilling machines during the analysis period of 2021 to 2028
Growing demand for automotive parts, as well as those used in the production of medical implants and surgical tooling, are the major factors driving the global deep hole drilling machines market.
Based on operation, CNC segment held the maximum share for deep hole drilling machines market in 2020