Drill Press- Market Scope
Drill press, device for producing holes in hard substances. The drill is held in a rotating spindle and is fed into the workpiece. drilling machine is a power tool that is used to create cylindrical holes in a workpiece. The drill press is a fixed drilling machine that is found in almost every shop.The drill press is used to create precise holes in various materials
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | JEI Drilling and cutting solution Ltd (India), Dongsheng Power Tools (India), Hougen Manufacturing Inc (United states), Milwaukee Tool (United States), CS Unitec Inc. (United States), Champion Cutting Tool Corp (United States), Dewalt (United States), Metabowerke GmbH (Germany) and Steelmax Tool LLC. (United States) |
CAGR | 9.5% |
The drill press market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Drill Press- market throughout the predicted period.
JEI Drilling and cutting solution Ltd (India), Dongsheng Power Tools (India), Hougen Manufacturing Inc (United states), Milwaukee Tool (United States), CS Unitec Inc. (United States), Champion Cutting Tool Corp (United States), Dewalt (United States), Metabowerke GmbH (Germany) and Steelmax Tool LLC. (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are RUKO GmbH (Germany), C and E Fein GmbH( Germany), Evolution Power Tools (United Kingdom) and Alfra Tools LLC (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Drill Press- market by Type , by Application (Automotive, Machinery works and Others) and Region with country level break-up.
On the basis of geography, the market of Drill Press- has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In September , 2022, DeWalt , a power tool manufacturer, acquired a new cordless magnetic drill press - the 20V MAX, delivering 40 holes per charge. This new cordless magnetic drill press has a capacity of up to 2-in of structural steel. The 20V MAX would support demanding metal drilling projects on construction sites.
In February 2024,Grizzly launched 5 new drill presses, which brings their total number up to a whopping 33, with 19 listed as being in stock and ready to ship at the moment.
Influencing Trend:
Increasing demand for precision machining in a wide range of industries and Increasing demand for emphasis of sustainability and eco-consciousness
Market Growth Drivers:
Increasing demand Automation in manufacturing process and Rising demand construction and Infrastructure development
Challenges:
High production multi-hole drilling and Automatic paper chip removal
Restraints:
High Initial Investment and Availability of alternative Tools
Opportunities:
High demand in emerging economics and Demand in advancement in technology
Key Target Audience
Manufacturing, Providers, Suppliers and Others