Global Drilling Machine Market was valued at US$ 16.10 Bn in 2017 and is expected to reach US$ 29.30 Bn by 2026, at a CAGR of 7.77 % during a forecast period.

Drilling machines are used for many applications such as drilling, tapping holes, reaming, and counterboring in wood and metals, which are widely used in the production-heavy equipment includes machines for construction and packaging industry. Woodwork for uptown and non-residential applications require lightweight portable drilling machines. The drilling machine offers accuracy in drilling holes to a specific depth and size.

Increased demand for fabricated metal products, expansion of heavy equipment industry, and growing large-scale industrial automation are projected to drive the growth of the market. Additionally, development in manufacturing machineries and government initiatives concerning to machine tools industry offer lucrative growth opportunity to the global drilling machine market. Furthermore, variation in the prices of the raw material and privation of skilled labor in the manufacturing sector is expected to hinder the growth of the drilling machine market.

The objective of the report is to present a comprehensive assessment of the global drilling machine market and contains considerate insights, facts, historical data, industry-validated market data and projections with appropriate set of traditions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments by material, type, end-user and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global drilling machine market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.

The deep hole drilling machine segment was the major contributor in 2017 and is projected to grow at a high rate of CAGR in the drilling machine market during the forecast period. The growth in the market is attributed to an upsurge in demand for drilling deep holes in an extensive variety of machines and equipment across the end-user industries such as aerospace, automotive, military & defence, and oil & gas industries. These machines are exclusive but are essential in every sector in the industrial equipment industry. Generally, these equipment are manufactured by heavy metals, thus the variation in raw material prices affects the overall estimating of drilling and milling machines.

Geographically, Asia Pacific is expected to share significant growth in the global drilling machine market. The growth can be attributed to the existence of machine market that is factory-made at large scale to complete the industry demand. China is the dominant country in the drilling machine market and expected to hold the high market share during the forecast period. Additionally, there is substantial growth in the China drilling machine market owing to the expansion of the machine manufacturing industry in the region. Rapid industrialization in the Asia-Pacific region energies the demand of drilling machine in this region. The countries such as Venezuela, Kuwait, Saudi Arabia, UAE, Canada, Iran and Iraq are expected to witness a major growth over the forecast period owing to a finding of new oil reserves in these areas.

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