August 24, 2023 05:50 ET | Source: ReportLinker ReportLinker
New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "CNC Drilling Machine Market by Application, Type, End User, and Sales Channel – Global Opportunity Analysis and Industry Forecast, 2023–2030" - https://www.reportlinker.com/p06486775/?utm_source=GNW CNC drilling machines offer the speed, accuracy, and automation necessary to meet the high production demands of the industry. These machines can drill holes in various materials used in automobile manufacturing, such as engine blocks, chassis, transmission systems, and body panels. According to Next Move Strategy Consulting analysis, the automobile industry holds a 35.04% share of the CNC drilling machines market. The growth of the CNC drilling machines market is primarily fueled by the technological advancements and numerous benefits they offer over traditional drilling machines. CNC drilling machines provide automation, precision, and versatility that surpass the capabilities of their conventional counterparts. With computerized controls and programmable settings, these machines can accurately position drilling tools, set drilling depths, and create complex hole patterns and geometries. This level of automation and precision eliminates human errors, ensures consistent drilling results, and improves overall product quality. These factors, in turn, boost the market growth. However, the high costs associated with CNC drilling machines, particularly for small and medium-sized enterprises, restrain the growth of the market. On the contrary, the emergence of the Industry 4.0, which enables the integration of cutting-edge technologies such as the Internet of Things, artificial intelligence, data analytics, and automation, creates significant growth opportunities for the CNC drilling machine market in the upcoming years. Segment Overview The global CNC drilling machine market is segmented on the basis of application, type, end user, sales channel, and geography. - Based on application, the market is classified into metal working, wood working, and others. - Based on type, the market is segmented into upright drilling machine, portable drilling machine, radial drilling machine, gang drilling machine, deep hole drilling machine, sensitive or bench drilling machine, and multiple spindle drilling machine. - Based on end user, the market is categorized into automobile industry, industrial machinery, electrical & electronics industry, aerospace & defence industry, shipping & transportation industry, oil & gas industry, and others. - Based on sales channel, the market is divided into indirect and direct. - Based on region, the market is segmented into North America, Europe, Asia-Pacific, and rest of the world . Regional Analysis The Asia-Pacific market is projected to hold the dominant share by 2030. Asia-Pacific dominates the global CNC drilling machine market. As the automotive industry continues to expand in China, manufacturers increasingly rely on CNC drilling machines to improve their production capacities and meet the growing demand for vehicles. According to International Trade Administration, China is the global leader in the automotive market, boasting the highest annual sales and manufacturing output. The country’s domestic production is projected to reach the sale of 35 million vehicles by 2025. In 2021, the Ministry of Industry and Information Technology reported the sale of over 26 million vehicles, out of which 21.48 million were passenger vehicles. This indicated a notable 7.1% increase for passenger vehicles from the previous year. Contrarily, the commercial vehicle sales accounted to nearly 4.79 million units, experiencing a decline of 6.6% compared to the figures in 2020. Furthermore, the government emphasized on advanced manufacturing technologies to establish the region as a leading global manufacturing hub. This resulted in a substantial market growth. For instance, in March 2023, the Telangana Government launched a T-Works prototyping facility in Hyderabad. The T-Works facility offers various equipment and resources, including 3D printers, CNC machines, and other tools. This makes it an ideal platform for startups to test and refine their ideas. It serves as a platform for micro, small, and medium enterprises, startups, innovators, students, and young entrepreneurs to prototype and rent equipment and fosters a culture of innovation and collaboration in the region. Key Market Players Some of the key players in the CNC drilling machine market include: • Datron AG • DMG MORI • Fehlmann AG • Kennametal, Inc. • Entrust Manufacturing Technologies, Inc. • TIBO Tiefbohrtechnik GmbH • Kays Engineering, Inc. • Mollart Engineering • Hong Ji Precision Machinery • Galbiati Costruzioni Meccaniche Srl Recent Developments June 2023 Datron showcased its latest cutting-edge innovations at the InnoTech 2023 exhibition held in Bern. The company presented its next-generation milling technology, featuring advanced solutions designed to revolutionize various industries and elevate machining efficiency to new heights. July 2021 Fehlmann AG launched an exhibition space in Isernhagen, Germany to showcases FEHLMANN’s precision milling machines and machining solutions, This innovation provided customers in Germany and neighboring regions with the opportunity to explore the latest innovations and experience the quality and capabilities of FEHLMANN’s products firsthand.. April 2021 DMG MORI expanded its presence in China by establishing a highly-automated and fully-digitized production plant equipped with advanced technologies and automation systems. This plant led to efficient and streamlined manufacturing processes. With this strategic move, DMG MORI aims to meet the growing demands of the Chinese market and reinforce its position as a leading provider of cutting-edge machine tools and solutions in the region. November 2021 Kennametal unveiled a series of next-level innovations, marking a significant advancement in the field of industrial technology. These cutting-edge solutions offer enhanced performance, precision, and efficiency across a wide range of applications, empowering manufacturers to elevate their productivity and achieve new levels of success in their operations. October 2020 Kays Engineering acquired TechniDrill, a reputable gun-drilling company to expand its portfolio. This strategic acquisition enables it to provide comprehensive gun-drilling solutions to its customers and further enhances its ability to fulfill the increasing needs of the manufacturing sector. KEY BENEFITS • The CNC drilling machine market report provides a quantitative analysis of the current market and estimations from 2023 to 2030. This analysis assists in identifying the prevailing market opportunities to capitalize on. • The study comprises a detailed analysis of the CNC drilling machine market trends, including the current and future trends to depict prevalent investment pockets in the market. • The information related to key drivers, restraints, and opportunities and their impact on the CNC drilling machine market is provided in the report. • The competitive analysis of the players along with their market share in the CNC drilling machine market is provided in the report. • The SWOT analysis and Porter’s Five Forces model are elaborated in the study. • The value chain analysis in the market study provides a clear picture of the roles of stakeholders. Read the full report: https://www.reportlinker.com/p06486775/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Cnc Hole Drilling
