CNC drilling machine market is expected to reach USD 2.52 billion by 2030
The rising initiatives towards the adoption of CNC drilling machines in the automotive industry are driving the growth of the CNC drilling machine market.
According to new research by Next Move Strategy Consulting, the global CNC Drilling Machine Market is valued at USD 1.76 billion in 2022, and is expected to reach USD 2.52 billion by 2030, with a CAGR of 4.2% from 2023 to 2030.
The demand from the automobile industry is a significant driving force behind the growth of the CNC drilling machine market. As the demand for vehicles continues to grow worldwide, automotive manufacturers require efficient and precise drilling processes to produce the components that contribute to the manufacturing of a vehicle. 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.
Moreover, the automotive industry often requires complex hole patterns in components for assembly, weight reduction, and structural integrity. Thus, CNC drilling machines excel in drilling holes of different sizes, shapes, and angles, enabling the development of intricate hole patterns in components, such as engine blocks, brake discs, and suspension systems. For instance, in June 2022, Unisign Machine Tools developed a new CNC machine, Uniaxle, for the truck industry. As per the company, it is estimated to enhance the quality and accuracy in rear axles, and production processes will be quicker and more cost-effective than before.
In addition, technological advancements in CNC drilling machines over traditional machines drive the market growth. As CNC integrates with CAD/CAM software, it enables seamless data transfer, quick prototyping, and data analysis for process optimization. Thus, the technological advancements and advantages over traditional drilling machines, such as automation, precision, versatility, efficiency, and waste reduction, are driving the growth of the CNC drilling machine market.
However, high costs associated with CNC drilling machines, particularly for small and medium-sized enterprises (SMEs), restrain the growth of the market. On the contrary, the emergence of the Industry 4.0, which allows the integration of advanced technologies such as the Internet of Things (IoT), artificial intelligence (AI), data analytics, and automation, creates numerous opportunities for the upcoming years.
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According to the report, the leading market 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, and others. These market players are adopting several strategies, such as product launches across various regions, to maintain their dominance in the CNC drilling machine market.
For instance, in 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.
In April 2023, Kennametal introduced a range of new metal cutting tools and solutions designed to enhance machining performance and versatility significantly. These cutting-edge solutions address the evolving demands of manufacturers, offering improved productivity, precision, and durability in machining operations across diverse industries.
Also, in 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 enhance its ability to fulfill the increasing needs of the manufacturing sector.
Key Insights from the CNC Drilling Machine Market Report:
The information related to key drivers, restraints, and opportunities and their impact on the CNC drilling machine market is provided in the report.
The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.
The market share of key players in the global CNC drilling machine market along with their competitive analysis are provided in the report.