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Deep Hole Drilling Machines Market

Deep Hole Drilling Machines Market Size, Share & Trends Analysis Report By Machine Type (BTA Drilling, Gun Drilling, Skiving & Burnishing), By Operations (CNC, Non-CNC), By End-user Industry (Oil & Gas, Medical, Automotive, Construction & Mining, Energy, Aerospace, Military & Defense, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Report Code: SRMM1788DR
Study Period 2019-2031 CAGR 6.5%
Historical Period 2019-2021 Forecast Period 2023-2031
Base Year 2022 Base Year Market Size USD 754.23 Million
Forecast Year 2031 Forecast Year Market Size USD 1045.76 Billion
Largest Market Asia Pacific Fastest Growing Market Europe
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Market Overview

The global deep hole drilling machines market size was valued at USD 754.23 million in 2022 and is projected to reach USD 867.34 million in 2023. It is expected to reach USD 1,045.76 billion by 2031, growing at a CAGR of 6.5% during the forecast period (2023–2031).

Deep hole drilling machines are used to drill holes that are more than ten times as deep as they are wide. These drilling machines can make holes as deep as 400:1 (depth to diameter ratio). These machines are used in many different fields that need straight and well-drilled pieces of work. Also, there are three basic ways to drill a deep hole: rotating the tool, the workpiece, or the tool and the workpiece in the same direction. The growing importance of mining activities drives the need for deep hole drilling machines in making mining equipment. The deep hole drilling machines market is also driven by the ever-increasing demand for high-precision parts in machines and equipment.

Market Dynamics

Global Deep Hole Drilling Machines Market Drivers

  • Growing Demand for Heavy Machinery in the Mining Industry

Deep hole drill machines are used as heavy tools for mining, like molds, drilling rods, parts for rock drills, and drill bits. The growth of mining operations worldwide will likely drive the market's growth. The main factors contributing to the need for mining are a rise in the demand for metals and minerals and an increase in the use of natural resources like coal, diamonds, and uranium. The market for mining equipment is also expected to grow because farmers will need more mineral fertilizers to make their crops grow better. The growth of the global market is also likely to be helped by the rise in demand for technologically advanced mining equipment.

  • Widescale Deployment of High-Accuracy Parts in Machines and Equipment

More and more machines and equipment are using parts made with very tight tolerances and high accuracy. This makes them more efficient, reliable, and of higher quality. Each product has a certain length, width, height, shape, and threading that must be met to keep the final product from being flawed. Precision is crucial for both big and small pieces of machinery. Every company that makes things wants to make perfect products in every way. When industries do not accurately measure and size their products, they lose a lot of money and time. 

High-accuracy parts are essential in the aerospace, military, and defense industries. In the aerospace industry, parts like landing gears, fuel injectors, and maneuvering cylinders must be made with high accuracy. In the same way, companies like SpaceX and Blue Origin LLC are working on several new projects in the space industry. Also, commercial aircraft makers expect the global civil aviation market to increase their demand during the forecast period.

About 14,000 of these new planes will replace older, less efficient planes, while the rest will be used to encourage growth in emerging markets, fleet growth, and new ways for airlines to run their businesses. Therefore, growth in the aerospace, military, and defense industries is driving the deep hole drill market, and it will continue to do so over the next few years.

Global Deep Hole Drilling Machines Market Restraints

  • High Investment Cost

It costs a lot of money to buy a deep hole drill machine. The cost is high because the machine is hard to make. Also, machines for drilling deep holes that are more accurate are more expensive. Because of this, manufacturers sometimes cut corners on quality and choose machines that cost less. Or, if a customer needs 3–4 deep hole drill machines, but there are a lot of them on the market, the customer only buys 1–2 deep hole drill machines. 

Small manufacturers also have a hard time coming up with the money to buy these expensive machines. So, any deep hole drilling that needs to be done on a piece of work is done by a third party, and high investment in machines is avoided. So, the high price of the machine slows the growth of the market for deep hole drilling machines.

  • Widespread Adoption of Electric Vehicles

Due to the changes in technology and government policies that support e-mobility, the number of electric vehicles on the road has grown significantly. These electric cars have fewer parts than cars with internal combustion engines (ICE). For example, an electric car has 20 moving parts while an ICE car has around 2,000. So, when electric cars become more common, there will be less need for deep hole drilling machines to make parts. This can lead to a no-need situation for the deep drilling machines, which can hamper the overall market growth.

Global Deep Hole Drilling Machines Market Opportunities

  • Increasing Demand in the Major Emerging Countries

Industrialization is increasing in developing countries in Asia, Latin America, the Middle East, and Africa. The country's GDP increases when the manufacturing industry grows, becoming more attractive to foreign investors. Many foreign investors have put money into the manufacturing sector of developing countries like India and Brazil because they have a lot of labor and raw materials.

For example, by 2022, the World Bank wants to invest more than USD 300 million in India and help set up more than 450 new manufacturing plants. In the same way, the World Bank Group is trying to invest more than USD 900 million in Brazil's manufacturing sector. In the future, these strategies will help the manufacturing industry in these economies, which will help the deep hole drill market grow during the forecast period.

Regional Analysis

The global deep hole drilling machines market is primarily segmented into North America, Europe, Asia-Pacific, and LAMEA.

The Predominance of Asia-Pacific in the Global Market

Asia-Pacific leads the global market for deep hole drilling machines and is expected to grow at a CAGR of 6.7% during the forecast period. China and Japan had a significant share of the deep hole drilling machines market in the Asia-Pacific region because they had a lot of factories, and the industries are growing in these countries. Also, the aerospace, heavy equipment, and cars market is expected to grow in the Asia-Pacific region, which could be suitable for the deep hole drilling machines market.

Europe is expected to grow at a CAGR of 5.6%, generating USD 195 million during the forecast period. As European countries pay more attention to the oil and gas industry, demand for deep hole drilling machines will likely rise. The deep hole drilling machines market in Europe is also growing because of the changes in technology and higher standards for cars implemented.

Report Scope

Report Metric Details
Segmentations
By Machine Type
  1. BTA Drilling
  2. Gun Drilling
  3. Skiving & Burnishing
By Operations
  1. CNC
  2. Non-CNC
By End-user Industry
  1. Oil & Gas
  2. Medical
  3. Automotive
  4. Construction & Mining
  5. Energy
  6. Aerospace
  7. Military & Defense
  8. Others
Company Profiles Entrust Manufacturing Technologies Inc. Hong Ji Precision Machinery Ltd. Hochent Machinery Development Co. Ltd. KGD. Co. Ltd. Mollart Engineering Ltd Cheto Corporation S A Kennametal Inc. Frankor Hydraulics Kays Engineering Inc. Precihole Machine Tools Pvt. Ltd. Tibo Tiefbohrtechnik Gmbh Galbiati Costruzioni Meccaniche s.r.l.
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

The global deep hole drilling machines market is segmented by machine type, operation,, and end-use industry.

Based on machine type, the global deep hole drilling machine market is classified into BTA Drilling Machines, Gun Drilling Machines, and Skiving & brunishing machines.

BTA Drilling Machines is the most dominant drilling machine and is expected to grow at a CAGR of 6.7% during the forecast period. Boring and Trepanning Association (BTA) is called single-tube system (STS) drilling. In contrast to the ejector drilling process, this method only uses one. Defense, oil and gas, aircraft, steel, aerospace, power, and hydraulic cylinders are some industries that use BTA drilling machines.

Gun drilling can make holes up to 50 mm in diameter. The coolant flows into these machines through a small hole in the drilling tool, and the material being drilled is taken out through a groove on the outside of the tool. The gun drilling method was made to make straight and accurate gun barrels. This was made possible by a clean and precise drilling process.

Based on operation, the global deep hole drilling machines market is segmented into CNC and Non-CNC.

The CNC segment has a significant market share and is expected to grow at a CAGR of 6.7% during the forecast period. CNC deep hole drilling machines can remove more metal faster, do their work more quickly, align better, and drill deeper. End-users choose automated CNC machines to get accurate measurements and reduce the time it takes to make something.

Deep hole drilling machines that are not computer-controlled, or are not CNC, can be used for small-scale industrial work. Also, non-CNC are cheaper because automation technologies are getting cheaper. Due to budget constraints, many end-users buy machines that are not CNC. They then use low-cost automation software to improve and optimize the non-CNC machines.

Based on end-use industry, the global deep hole drilling machines market is segmented into Oil & Gas, Medical, Automotive, Construction & Mining Equipment, Energy, Aerospace, Military & Defense, and Others.

The aerospace has a significant market share and is expected to grow at a CAGR of 7.2% during the forecast period. The aerospace sector frequently depends significantly on deep hole drilling machines to ensure the requisite precision and quality in the production of aircraft components. Deep holes are an essential requirement for a diverse range of applications within the aerospace industry, encompassing critical components such as turbine blades, landing gear components, and structural parts.

Market Size By Machine Type

Market Size By Machine Type
  • BTA Drilling
  • Gun Drilling
  • Skiving & Burnishing
  • Recent Developments

    • April 2022- Kennametal Inc entered the virtual world by introducing its products on a virtual reality platform.
    • March 2022- Hong Ji Precision Machinery Ltd launched its new deep hole drilling machine ST-1500MA, which can also do milling operations.
    • February 2022- Cheto Corporation SA introduced a new and innovative solution for the deep hole drilling systems that will revolutionize the industry.
    • January 2022- Mollart Engineering Ltd acquired a significant manufacturing contract from the defense industry.

    Top Key Players

    Deep Hole Drilling Machines Market Share of Key Players

    Deep Hole Drilling Machines Market Share of Key Players
    Entrust Manufacturing Technologies Inc. Hong Ji Precision Machinery Ltd. Hochent Machinery Development Co. Ltd. KGD. Co. Ltd. Mollart Engineering Ltd Cheto Corporation S A Kennametal Inc. Frankor Hydraulics Kays Engineering Inc. Precihole Machine Tools Pvt. Ltd. Tibo Tiefbohrtechnik Gmbh Galbiati Costruzioni Meccaniche s.r.l. Others

    Frequently Asked Questions (FAQs)

    What is the growth rate for the Deep Hole Drilling Machines Market?
    Deep Hole Drilling Machines Market size will grow at approx. CAGR of 6.5% during the forecast period.
    Some of the top industry players in Deep Hole Drilling Machines Market are, Entrust Manufacturing Technologies Inc., Hong Ji Precision Machinery Ltd., Hochent Machinery Development Co. Ltd., KGD. Co. Ltd., Mollart Engineering Ltd, Cheto Corporation S A, Kennametal Inc., Frankor Hydraulics, Kays Engineering Inc., etc.
    In the Deep Hole Drilling Machines Market, Asia Pacific has established itself as the market leader with a significant market share.
    The Europe region has experienced the highest growth rate in the Deep Hole Drilling Machines Market.
    The global Deep Hole Drilling Machines Market report is segmented as follows: By Type, By Operations


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