Boring Tools Market Research Report: Information by Type (Rough Boring and Fine Boring) and Region (North America, Europe, Asia-Pacific and the Rest of the World) - Forecast till 2030

Boring Tools Market Synopsis:

Boring tools market is expected to witness 4.35% CAGR during the forecast period, 2019–2025 and the market size is expected to reach 680 Million units by 2025.

Growth in the automotive industry combined with the recent recovery in the growth of other key end-use industries, and growing production of light vehicles create demand for metal boring tools, which is expected to boost the demand for boring tools during the forecast period. Furthermore, the rapid industrialization and expansion of manufacturing sectors are expected to offer promising growth opportunities for the boring tools market during the forecast period. However, the size of the global market might be hindered due to the fluctuating raw material prices.

Prominent Players

The Prominent Players in global boring tools market are Advanced Carbide Tool Company, Inc. (US), Floyd Automatic Tooling Ltd (UK), AMAMCO Tool (US), Asahi Diamond Industrial Co., Ltd. (Japan), Becker Diamantwerkzeuge GmbH (Germany), Mitsubishi Heavy Industries Machine Tool Co., Ltd.  (Japan), Allied Machine (US), Kyocera Corporation (Japan), Boehlerit Gmbh & Co Kg (Austria), CeramTec (Germany), Dorian Tool International (US), Elenco Carbide Tool Corporation (US), Five Star Tool Co (US), Big Kaiser Precision Tooling Inc. (US), Kennametal (US), Nachi-Fujikoshi Corp (Japan), OSG USA, INC. (US), Sandvik AB (Sweden), and Fullerton Tool Company (US).

The increasing investments for carrying out R&D activities in the field of boring tool development to improve the process accuracy and precision are expected to offer promising growth opportunities for the key players of boring tools industry.

Global Boring Tools Market: Segmentation and Regional Analysis

Global boring tools market is segmented based on type and region. On the basis of type, global market has been segmented into rough boring and fine boring. The fine boring tools segment is expected to dominate the market due to the high demand for fine boring tools with increase in demand for quality and finishing in manufacturing sector.

Geographically, global market of boring tools has been segmented into four major regions, which are North America, Europe, Asia-Pacific, and the Rest of the world. In Asia-Pacific it is expected to grow at the highest CAGR throughout the forecast period. The strong growth of the automobile manufacturing industry in countries such as China, India, and Indonesia, and rising population in region with huge markets for different industry verticals compel companies to move their manufacturing operations to these developing economies, which are expected to drive the demand for the boring tools during the forecast period.

Boring machine is the used for enlarging a hole that has already been drilled or cast and is used to bring holes to the proper size and finish, straighten original drilled or cored holes and correct defects in casting, and make the holes concentric with the outside diameter. The boring machines type includes horizontal boring machine, line boring machine, cylinder boring machine, and others.

The process is used to enhance accuracy of the diameter of a hole and can be used to cut a tapered hole. The automotive, manufacturing and metal work industries are the major end users of the boring tools.

The Market Research Future report on global boring tools industry covers extensive primary research. This is accompanied by a detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.

Intended Audience:

• Boring tool producers


• CNC, NC, Lathe Machine Manufacturers


• Metal component manufacturers


• Automotive OEM’s


• Automotive component manufacturers


• Government bodies


• Raw material suppliers

Report Scope:

Report Attribute/Metric	Details
Market Size	2025: USD 680 Million 2030 : Significant value
CAGR	4.35% CAGR (2022-2030)
Base Year	2021
Forecast Period	2022-2030
Historical Data	2019 & 2020
Forecast Units	Value (USD Million)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Type
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors	Advanced Carbide Tool Company, Inc. (US), Floyd Automatic Tooling Ltd (UK), AMAMCO Tool (US), Asahi Diamond Industrial Co., Ltd. (Japan), Becker Diamantwerkzeuge GmbH (Germany), Mitsubishi Heavy Industries Machine Tool Co., Ltd. (Japan), Allied Machine (US), Kyocera Corporation (Japan), Boehlerit Gmbh & Co Kg (Austria), CeramTec (Germany), Dorian Tool International (US), Elenco Carbide Tool Corporation (US), Five Star Tool Co (US), Big Kaiser Precision Tooling Inc. (US), Kennametal (US), Nachi-Fujikoshi Corp (Japan), OSG USA, INC. (US), Sandvik AB (Sweden), and Fullerton Tool Company (US)
Key Market Opportunities	Improve the process accuracy and precision New product launches and R&D amongst major key players
Key Market Drivers	Growth in the automotive industry Growing production of light vehicles

Speak to Analyst Ask for Customization

Frequently Asked Questions (FAQ) :

---