Drilling Machines Market Size - By Type (Sensitive Drilling Machine, Upright Drilling Machine, Radial Drilling Machine, Gang Drilling Machine, Deep Hole Drilling Machine, Multiple Spindle Drilling Machine, Others), By Application & Forecast, 2024 – 2032

Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Industrial-Machinery | Format: Report available in PDF / Excel Format

View Details Buy Now 2890 Download Sample Ask for Discount Request Customization

Drilling Machines Market Size - By Type (Sensitive Drilling Machine, Upright Drilling Machine, Radial Drilling Machine, Gang Drilling Machine, Deep Hole Drilling Machine, Multiple Spindle Drilling Machine, Others), By Application & Forecast, 2024 – 2032

Drilling Machines Market Size

Imagine thisthe global market for drilling machines is booming! In 2023, it was worth a whopping $26.3 billion, and that's expected to keep growing at a steady pace of 4.9% over the next few years, reaching a mind-boggling $39.4 billion by 2032. Why the surge? Well, it's simplethe construction, mining, and oil and gas industries are going crazy for these machines. They need them to get the job done, from building bridges to digging for precious minerals and drilling for energy. But let's not forget the techno-wonders driving this growth! Drilling machines are getting smarter and more efficient than ever before. They're automated, connected to the internet so they can monitor themselves, and even predict when they need maintenance. It's all about making these machines more productive and reliable. Oh, and let's not leave out the green energy boom. As we strive for a cleaner future, the demand for drilling machines is soaring. They're needed to tap into geothermal energy, mine for critical minerals used in renewable technologies, and explore for new energy sources. So, buckle up, folks! The drilling machine market is set to drill its way to even greater heights in the coming years.

To get key market trends

  Download Free Sample

Let's talk about what's driving the drilling machine business. It's all about the industries that need them the most. Construction, mining, and oil and gas companies are all ramping up their demand for these machines because they need them for different jobs. For example, construction is booming and it's expected to be worth about $15.7 trillion by 2023. A lot of that money will go towards building foundations, installing utilities, and other projects that require drilling. That's a lot of drilling! And it's not just buildings that need drilling. The energy industry is also growing, with the International Energy Agency saying that our need for oil will go up by 5% by 2025. That means we'll need more drilling equipment to find and tap into new oil fields, build wells, and lay pipelines. Even companies that make stuff, like metal products and heavy machinery, are driving up demand for drilling machines because they need precision drilling for their manufacturing and assembly lines.

Drilling Machines Market Report Attributes
Report Attribute Details
Base Year 2023
Drilling Machines Market Size in 2023 USD 26.3 Billion
Forecast Period 2024 - 2032
Forecast Period 2024 - 2032 CAGR 4.9%
2032 Value Projection USD 39.6 Billion
Historical Data for 2021 - 2023
No. of Pages 300
Tables, Charts & Figures 176
Segments covered Type, application, distribution channel, and region
Growth Drivers
  • Increasing demand from end-user industries
  • Growing demand for fabricated metal products and heavy industrial equipment
  • Advancements in manufacturing processes
  • Development of multi-purpose machines
  • Rise of the do-it-yourself trend
Pitfalls & Challenges
  • Fluctuating raw material prices
  • Lack of skilled labor and technicians

What are the growth opportunities in this market?

 Download Free Sample

Drilling machines are crucial for creating precise holes and joints in metal components used in construction, machinery, and appliances. Advancements in manufacturing processes have led to the production of more efficient and reliable drilling machines, further boosting drilling machines market growth. The development of multi-purpose machines that can perform various drilling tasks has enhanced versatility and appeal to a broader range of industries. Additionally, the rise of the do-it-yourself (DIY) trend has increased the demand for user-friendly, compact drilling machines among hobbyists and home improvement enthusiasts, expanding the market’s consumer base.

Volatile prices of essential raw materials like steel and aluminum directly impact manufacturing costs, creating uncertainty and squeezing profit margins for manufacturers. This economic instability can deter investments and slow market growth. Additionally, the industry is grappling with a shortage of skilled labor and technicians, which hampers the efficient operation and maintenance of sophisticated drilling equipment. The lack of adequately trained personnel not only affects productivity but also increases the risk of operational errors and downtime, further constraining market expansion.

Drilling Machines Market Trends

"Hey there! There's a surge in the need for drilling machines that can do everything for you, like the fancy CNC (Computer Numerical Control) ones. These machines make drilling a breeze, thanks to their brains that guide them precisely. This is because industries are getting more and more automated, and people want products that are top-notch. Haas is known for making CNC machines that are like your best friend. They're easy to use and surprisingly affordable. Small and medium-sized businesses love them. Manufacturers are not only looking for machines that drill; they want machines that can do many things like a drill, a mill, and even a chef! These multi-function machines make everything more efficient and cheaper. One of the best in the business, the DECKEL MAHO Group, makes these multi-function machines that can drill, mill, and turn all in one go. This means you can make your part from beginning to end without having to move it, saving you time and money. Pretty cool, right?"

The Asia Pacific region, particularly countries with booming automobile sectors like China and India, is expected to see significant growth in drilling machine demand. This is due to factors like increasing disposable income, rapid urbanization, and a focus on eco-friendly technologies in the auto industry. Furthermore, an Indian manufacturer of CNC machines, JK Technosoft offers drilling machines specifically designed for the needs of the Indian market. Their machines are known for their cost-effectiveness and suitability for smaller workshops and businesses.

Drilling Machines Market Analysis

Learn more about the key segments shaping this market

 Download Free Sample

Imagine you're looking for a tool to make precise and deep holes, like those found in car parts or drilling for oil. In 2023, deep hole drilling machines were already a big deal, worth over $7.69 billion. And by 2032, experts say that number will shoot up to $11.1 billion. Why are these machines in such high demand? Because they're the best at drilling these tough holes. They're super accurate and can drill deep, which is perfect for industries like oil and gas, cars, and even airplanes. These industries need parts with very specific sizes and shapes, and deep hole drilling machines can deliver. But it's not just accuracy that makes these machines so popular. They've also gotten better and smarter over time, thanks to new technology and automation. This means they can do more and do it better, which is a win-win for businesses.

Learn more about the key segments shaping this market

 Download Free Sample

Based on application, the energy industry was worth USD 10.7 billion in 2023 and is likely is exceed USD 15 billion by 2032, driven by the ongoing demand for oil and gas exploration, the rise of renewable energy projects, and the increasing need for efficient drilling technologies in geothermal energy production. The push for energy independence and the global transition towards sustainable energy sources have fueled investments in advanced drilling equipment, further boosting market growth. Additionally, technological innovations in drilling machines that enhance precision and efficiency have made them indispensable in the energy sector, solidifying its market dominance.  

In the world of drilling machine sales, the indirect route, where middlemen like distributors and dealers do the selling, was the rockstar in 2023, taking home over 75% of the market's pie. And guess what? By 2032, it's expected to waltz past a stunning $29.2 billion! Why is indirect selling the golden ticket? It's all about reach and connections. These middlemen have got it covered, with networks that stretch far and wide. They're like the neighborhood experts, knowing the ins and outs of their local markets. Plus, they've got the logistics game down pat, ensuring those machines get where they need to go. But it's not just about getting the machines there; it's about keeping them running smoothly. And that's where after-sales support comes in. These middlemen are the go-to guys for repairs and maintenance, making sure businesses can keep those drills humming. And let's not forget the cherry on topa wider customer base. By tapping into the networks of these middlemen, sellers can reach far-off lands where direct sales might not have the same reach. It's like casting a net over the entire ocean of customers!

Looking for region specific data?

 Download Free Sample

Asia Pacific region dominated more than 31% share of the drilling machines market in 2023. The region's robust industrialization and rapid urbanization have driven significant infrastructure development, which necessitates extensive drilling activities across construction, mining, and manufacturing sectors. Countries like China and India are major contributors to market growth, owing to their substantial investments in infrastructure projects and urban development initiatives. Secondly, Asia Pacific is a hub for manufacturing, particularly in automotive, heavy equipment, and electronics industries, where drilling machines are crucial for production processes.

Moreover, the region's burgeoning energy demand, coupled with ongoing investments in oil & gas exploration and renewable energy projects, has propelled the demand for advanced drilling technologies. Additionally, the availability of skilled labor at competitive costs in countries like China and South Korea supports the manufacturing and operation of drilling equipment, further boosting the market.

Country Level Analysis

In the United States, there's a huge demand for drilling machines because the country is a major producer of oil and gas. They're using these machines to drill deep down in the ground for shale oil, natural gas, and other resources. Plus, the U.S. is home to some of the best drilling machine makers in the world, so they've got a lot of expertise in this area.

These companies benefit from a highly skilled workforce and robust research and development infrastructure, enabling them to produce cutting-edge drilling solutions. Thirdly, the U.S. has a well-established industrial base across multiple sectors such as aerospace, automotive, and construction, all of which require drilling machines for various applications. Lastly, favorable government policies and incentives for energy exploration and infrastructure development further support the growth of the drilling machine market in the U.S., solidifying its dominant position in North America. 

Europe In terms of country, UK is dominating the Europe drilling machines market with revenue of around USD 1.6 billion in the year 2023 and expected to reach around USD 2.2 billion by 2032. Firstly, the country benefits from a robust industrial base, particularly in sectors such as aerospace, automotive, and energy, all of which require advanced drilling technologies for manufacturing and maintenance processes. Secondly, the UK's strong focus on research and development fosters continuous innovation in drilling machines, enhancing their efficiency and reliability.

Additionally, the presence of a highly skilled workforce and advanced engineering capabilities further supports the development and deployment of cutting-edge drilling equipment. Moreover, the UK's strategic geographical location and its historical prominence in global trade have positioned it as a key market and distribution hub for drilling machines across Europe. Lastly, government initiatives and incentives aimed at promoting sustainable energy solutions and infrastructure development continue to drive demand for drilling machines in the UK, solidifying its leadership in the European market. 

Asia Pacific In terms of country China dominated with the overall market share of around 22.3% in the Asia Pacific. China's rapid industrialization and urbanization have driven substantial demand for infrastructure development, which necessitates extensive use of drilling machines in construction, mining, and manufacturing sectors. The country's ambitious Belt and Road Initiative (BRI) has further accelerated infrastructure investments, boosting drilling machines market demand.

Secondly, China is a manufacturing powerhouse, producing a wide range of goods from heavy equipment to consumer electronics, all of which require drilling machines for production processes. Thirdly, China has significant reserves of natural resources, including coal and rare earth minerals, necessitating extensive drilling operations. Moreover, the Chinese government's support for renewable energy initiatives and exploration of unconventional oil and gas resources has increased the adoption of advanced drilling technologies. Additionally, China benefits from a large pool of skilled labor and a vast domestic market, making it an attractive destination for drilling machine manufacturers and suppliers.

Drilling Machines Market Share

The global drilling machines industry is highly fragmented in nature with prominent players operating in the market such Atlas Copco, Caterpillar, Sandvik AB, Beretta S.r.l. P, Soilmec S.p.A. These together hold a market share of 12 to 15%. While there are established companies with significant market share, there are also numerous smaller regional and niche manufacturers offering specialized drilling machines. This creates a competitive landscape with diverse options for buyers. The market caters to various needs with different drilling machine types like upright, radial, deep hole, and multi-spindle. This allows for specialization among manufacturers, further contributing to fragmentation.

Drilling Machines Market Companies

Major players operating in the drilling machines industry include

  • Atlas Copco
  • Bauer Maschinen GmbH
  • Beretta S.r.l. P
  • Boart Longyear
  • Caterpillar
  • Cheto Corporation SA
  • Dezhou Hongxin Machine Tool Co Ltd
  • Epiroc AB
  • ERLO Group
  • Hitachi Construction Machinery Ltd
  • Ingersoll Rand
  • KURAKI Co Ltd
  • Liebherr Group
  • Minitool
  • Mitsubishi Heavy Industries ltd.
  • Robert Bosch GmbH
  • Sandvik AB
  • Shenyang Machine Tool Co Ltd
  • SMTCL
  • Soilmec S.p.A.

Drilling Machines Market News

  • In January 2024, Epiroc launched the Pit Viper 271 XC E, which is capable of drilling single-pass holes up to 18m (59ft) with diameters up to 270mm (10-5/8in). The Pit Viper 275 XC E can achieve single-pass holes up to 11m (37ft) with diameters reaching 270mm. Both drills can be configured with the XC package (Xtra Capacity) to provide 85,000lb (42.5t) bit load capacity.
  • In November 2023, Sandvik AB launched the CT55 and CT67 top hammer tool systems. The unique design increases efficiency and reduces cost while saving fuel and simplifying automated drilling in surface bench and underground longhole applications. The new multi-patented, first-of-its-kind curved thread design from Sandvik reduces stress levels by distributing them over a larger area inside the tool. This enables the system to handle higher drilling power and a drill rig’s full potential.
  • In February 2022, CHETO Corporation SA, an expert in CNC deep drilling & milling machines introduced a technical assistance service management application to reduce response time and enhance service quality. The application is designed to enable technicians, and engineers to streamline the process of remote assistance with the help of augmented reality (AR).

This drilling machines market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) and volume (‘000 Units) from 2021 to 2032, for the following segments

Click here to Buy Section of this Report

 

 

Market, By Type

 

  • Sensitive drilling machine
  • Upright drilling machine
  • Radial drilling machine
  • Gang drilling machine
  • Deep hole drilling machine
  • Multiple spindle drilling machine
  • Others (magnetic drilling machine)

Market, By Application

  • Aerospace
  • Heavy equipment
  • Automotive
  • Energy industry
  • Military & defense
  • Others

Market, By Distribution channel

  • Direct sales
  • Indirect sales

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Malaysia
    • Indonesia
    • Rest of Asia Pacific 
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America 
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA

 

Related Reports

Table of Content

To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )

List Tables Figures

To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )

FAQ'S

For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:

sales@marketinsightsresearch.com

Within 24 to 48 hrs.

You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email

You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.

Discounts are available.

Hard Copy

Email