Technavio, a tech-focused market research firm, has published a new report on the global drilling machines market, which is expected to experience a slow but steady growth rate with a CAGR of almost 6% during the forecast period 2016-2020.
This latest report by Technavio covers the market outlook and growth prospects of the global drilling machines market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global drilling machines market into the following key regions: the Americas, APAC, and EMEA.
Geographical segmentation of the global drilling machines market for 2015 (market share %)
|
APAC |
54.0% |
|
EMEA |
30.0% |
|
Americas |
16.0% |
Source: Technavio
Global drilling machines market in APAC
In 2015, APAC occupied the largest share, accounting for around 54% of the global drilling machines market.
According to Anju Ajaykumar, a lead analyst at Technavio, specializing in research on tools and components, “The growing aerospace, automotive, and industrial sectors in APAC has increased the demand for machine tools. This, in turn, has further created the demand for precision drilling machines in the region. The major contributors to the market in this region are Japan, Taiwan, Singapore, China, India, and South Korea, with China and South Korea as the leading end-users.”
China is the leading producer and consumer of machine tools worldwide. Over the past decade, the increased manufacturing activities have spurred the country’s rapid economic strides. The growth of the manufacturing sector in China has fueled the production of tools and equipment required in this sector.
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Global drilling machines market in EMEA
In EMEA, Europe dominates the market and accounts for a significant revenue share with Germany as the key contributor. In Europe, the growth of the precision drilling machine market is dependent on the strength and performance of the machine tools market. The rise in the automotive and electronics sectors in the region determines the growth of the machine tools market. Among various countries in Europe, Italy and Germany are the major producers and consumers of machine tools. Germany is the second-largest producer and third-largest consumer of machine tools worldwide. Germany exports at least around 50% of machine tools that it produces to both developing and developed countries, including China, the US, and Japan. The growth of the machine tools market in the country is due to the rising manufacturing activities, especially in the automotive, aerospace, general machinery industries, and electrical and electronics. Germany’s automotive industry is recognized globally for its excellence in engineering. Italy is the sixth-largest consumer and the fifth-largest producer of machine tools worldwide, with the automotive industry being the biggest contributor to the machine tools market in the country.
Global drilling machines market in the Americas
The US is the major revenue contributor to the drilling machines market in the Americas and will continue to dominate the market during the forecast period. The increase in outsourcing activities to regions such as Mexico, Canada, and Brazil, will drive the demand for machine tools in the Americas, which in turn, will drive the precision drilling machine market. The US is the second-largest consumer and the sixth-largest producer of machine tools worldwide. The US automotive industry is the largest contributor to the growth of the machine tools market in the country. The production-consumption figures of the market are evident that the US imports at least 40% of machine tools from other countries, such as Japan and Germany, to meet the shortfall in production. The country offers striking proposal for companies to establish their operations as its abundant natural resources, political stability, highly educated and productive workforce, and the business-conducive environment act as incentives for growth. Numerous manufacturers in the US are planning on increasing investments in volume expansion, with the objective of enhancing production processes to reap better profits.
The top leading vendors operating in the global drilling machines market are:
- DATRON
- Dalian Machine Tool Group (DMTG)
- DMG MORI
- SMTCL
Other prominent vendors in the market include Cameron Micro Drill Presses, Ernst Lenz Maschinenbau, Fehlmann, Fives Landis, Forma, Gate Machinery International, Hsin Geeli Hardware Enterprise, Kaufman, LTF, Microlution, Minitool, MTI, Roku, Scantool, Taiwan Winnerstech Machinery, Tongtai Machine & Tool, and Yamazaki Mazak.
A more detailed analysis is available in the Technavio report tilted, ‘Global Drilling Machines Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Drilling and Completion Fluids Market 2016-2020
- Global Robot Machine Tools Market 2016-2020
- Global Drill Pipe Market 2015-2019
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