Market Snapshot:
Drilling machines or drill presses are the most common machines used for drilling, reaming, counterboring, and tapping holes. In addition, increasing demand for fabricated metal products and developments in heavy equipment are some major factors expected to drive the growth of the target market. Also, increasing drilling operations and availability of drilling machines with various sizes and power capacities, giving a new way for the growth of the target market.
Highlights from Drilling Machine Market Study
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Largest Market | North America |
Unit | Value (USD Million) |
CAGR | 5.0% |
The key Manufacturers profiled in the report are Baker Huges (United States), National Oilwell Varco (United States), Halliburton (United States), Atlas Copco (Sweden), DATRON AG (Germany), DMG MORI (Germany), Ernst Lenz Maschinenbau (Germany), Fehlmann AG (Switzerland) and Gate Machinery International (United Kingdom). Additionally, other players that are part of this comprehensive study are Alpen-Maykestag G (Austria).
Geographic Breakdown and Segment Analysis
The Global Drilling Machine market presents a comprehensive analysis of the Drilling Machine market by product type (Portable Drilling Machine, Hand Drilling Machine, Sensitive Drilling Machine, Bench Drilling Machine, Upright Drilling Machine, Radial Drilling Machine, Gang Drilling Machine, Multiple Spindle Drilling Machine and Deep Hole Drilling Machine), by end-user/application (Wood Working, Metal Working and Oil Well Drilling), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Drilling Machine industry. Investors and Manufacturers can easily understand the inherent opportunities and challenges for their products in geographical region of interest. For instance, while the North America holds majority of market share of the Drilling Machine market, the Europe has emerged as a crucial market for several Drilling Machine brands.
Analyst at AMA have segmented the market study of Global Drilling Machine market by Type, Application and Region.
Influencing Trend:
Development of Unconventional Hydrocarbon Resources and The increasing demand from the automotive industry
Market Growth Drivers:
Increasing Drilling Activities and Rising demand from end-user industries including non-residential and residential sectors
Challenges:
Prohibitive Cost of Drilling Tools for Offshore Applications
Restraints:
The fluctuating raw material prices and lack of skilled labor in the manufacturing sector
Opportunities:
New Oilfield Discoveries and Developments in Technology
Market Developments Activities:
In January 2023, Phillips Machine Tools launched its newest partnership with Precihole, a global leader in deep-hole drilling and finishing solutions. Deep hole drilling and finishing have an array of vital uses but are still considered very niche, high-tech applications. This is where Precihole’s expertise spanning over 3 decades is indispensable, with their range of deep hole drilling
In November 2023, Sandvik launched its most advanced top hammer tool systems. Featuring an industry-first curved thread design, Sandvik’s new CT55 and CT67 top hammer tool systems are the most advanced the company has launched. The unique design increases efficiency and reduces cost while saving fuel and simplifying automated drilling in surface bench and underground longhole applications.
The drilling machines market is fairly fragmented in nature with the presence of large global players and small and medium-sized local players with quite a few players who occupy the market share. When analyzing major countries’ manufacturing establishments, it is revealed that many of the global companies have a footprint in the major countries.
Key Target Audience
Drilling Machine Manufactures, Suppliers, Distributors, Government Regulatory Bodies, Government Research Organizations, Private Research Organization and Others