The global drilling machine market size is expected to reach USD 42.92 billion by 2029 from USD 31.47 billion in 2024, registering a CAGR of 6.4 % during the forecast period.
A Drilling machine is an effective tool that can drill holes in various strong surfaces such as wood, steel, aluminum, and concrete. It consists of a base, table, column, drill head, spindle, and motor. The spindle rotates the drill head up and down to control the depth of the hole, while the table can be moved in a number of ways to position the workpiece for drilling. The spindle and drill head are rotated with the assistance of the motor. The drilling machine is available in a variety of sizes, capacities, and purposes. They can be portable or stationary and can be powered by electricity or compressed air. They are mainly used in the building, manufacturing, and repair sectors.
In the oil and gas industry, robotic drilling provides a superior solution for operations. It provides more precision and accuracy in operations, faster drilling times, multi-sensor measurements, mass production, and safer operations. Further, a single worker can operate the automated machines at the same time, which significantly increases productivity and lowers labor costs. This rising adoption of automation in the oil and gas industry is driving the drilling machine market expansion. In the automotive industry, drilling machines are used to create automotive car components, frames, and so on. Each car needs to have hundreds of holes punched in its engine blocks, camshafts, propellant chambers for airbags, gearbox shafts, and other internal engine components. This factor is driving the drilling machine market growth. Further factors like machine technology advancements and government machine tool initiatives are expected to drive the drilling machine market during the forecast period.
Drilling machines mostly come automated. The Automated machine, based on the degree of automation, costs thousands to millions of dollars. These high costs of manufacturing primarily impede the growth of the drilling machine market. Another obstacle is the pollution the machines produce. Sound pollution is the major type of pollution caused during drilling. Also, several drilling machines have a motor, which can emit gases or chemicals while drilling. This can pollute the work area. However, fluctuations in the raw material prices and lack of skilled labor are also hampering the growth of the drilling machine market.
The drilling machine market is expected to grow significantly, availing the opportunities in the forecast period. With the surge in manufacturing sectors, new technologies like 3D printing are hitting the markets. Manufacturers are trying to integrate 3D technology with precision drilling technology. This helps in reducing material consumption and development costs. These innovative technologies are expanding the market. Several machine tool initiatives taken by the government and further rise in large-scale industries pave opportunities for drilling machine market growth.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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CAGR |
6.4% |
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Segments Covered |
By Type, Application, and Region. |
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Various Analyses Covered |
Global, Regional, & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
DATRON, Cameron Micro Drill Presses, Gate Machinery International, Kaufman, Microlution, Minitool, Scantool, Taiwan Winnerstech Machinery, Yamazaki Mazak, Hsin Geeli Hardware Enterprise, Alpen-Maykestag G and Others. |
Based on Type, the Deep Hole Drilling Machine market accounts for the largest revenue during the forecast period. The deep hole drilling machine is a metal-cutting machine tool designed to produce very deep, precision holes into virtually any metal. It is one of the quite expensive tools and is required in most of the large-scale industries like aerospace, automotive, military & defense, and oil & gas industries. The equipment is needed for deep-drilling activities and is driving the drilling machine market.
The multi-spindle drilling machine is observed to register significant growth in the drilling machine market during the forecast period. A multi-spindle drilling machine is used to drill parallel holes simultaneously in the workpiece. They are employed for drilling small components in automobile and aircraft industries. This requirement is driving the market growth.
Based on the Application, the Automotive segment is observed to register the highest market revenue during the forecast period. The increased demand from vehicle sectors is marking growth. In the automotive industry, each car needs to have hundreds of holes punched in its engine blocks, camshafts, propellant chambers for airbags, gearbox shafts, and other internal engine components. This prominent usage in automobiles is fuelling the drilling machine market.
Based on the Application, the oil and gas industry records significant growth in the drilling machine market. Automated drilling machines provide more accuracy in operations and help in mass production. These factors are driving the market as the oil and gas industry requires drilling in harsh working conditions on onshore and offshore modes.
Asia-Pacific is projected to grow at a significant rate during the forecast period. China holds the highest market share and is a pioneer in the drilling machine market. The machine manufacturing industry is significantly growing in China and is registering market expansion in the Asia-Pacific region.
The North American region is expected to record the largest market revenue during the forecast period. North American countries such as the United States and Canada generate more demand. The factors like oil and gas mining and growth in drilling machine automation are driving the drilling machine market share in this region.
Major Key Players in the Global Drilling Machine Market are
In 2022, Houston-based drilling company vantage drilling bagged three years contract for two of its jack-up drilling rigs to work offshore in Qatar.
In 2023, Amazaki Mazak Corporation will build its manufacturing plant in Pune, Maharashtra, India. The plant started its operations by producing a new type of vertical machine developed and designed in Japan for the Indian domestic market.
By Type
By Application
By Region
Frequently Asked Questions
The key factors driving the growth include increasing demand from the oil and gas industry, advancements in drilling technologies, rising construction activities, and the need for efficient and high-precision drilling equipment in various industries.
The major types of drilling machines include portable drilling machines, sensitive drilling machines, radial drilling machines, gang drilling machines, multiple spindle drilling machines, deep hole drilling machines, and automatic drilling machines.
Technological advancements include the development of automated and computer-controlled drilling machines, the integration of IoT and AI for predictive maintenance, and the use of advanced materials to enhance machine durability and performance.
The construction industry significantly influences the drilling machine market as it requires various types of drilling equipment for building foundations, installing utilities, and creating infrastructure. The growth in construction activities worldwide boosts the demand for drilling machines.
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