ID: MRFR/IA - E/6962-HCR | February 2021 | Region: Global | 100 pages
In addition, the global drill press market is expected to rise at a CAGR of 4.15%, with a value of USD 825 million over the projected year 2022-2030.
The number of the workshop using drilling presses is increasing as a result of the rapid growth of the industrial sector, which is driving the growth of the drill press market. However, comparable to standard equipment, the vast majority of the machine tool makers obtain drill presses as sub-contracting work from small-scale industries. Small-scale industries extensively utilize the drill press all over the world since they are also purchased in the open market through dealers. Currently, the market for dill press is the fastest growing industry in the world.
The growth of the drill press market is majorly driven by the increasing demand from several end-user industries like automotive, aerospace and others across the world. However, the market is also driven by the growing demand for fabricated metal products and the developments in heavy industrial equipment, the advancement in the manufacturing processes and the adoption of the latest technologies. The development of multi-purpose material removal machines that consist of different cutting equipment in a single machine has gained traction. The metal fabrication market may be less prone to the wild fluctuations that other industries will allow these conventional machining processes to grow moderately.
The Prominent Players in the global drill press market industry are JEI Drilling & Cutting Solutions Ltd (India), Dongcheng Power Tools (India), Hougen Manufacturing Inc (US), Milwaukee Tool (US), CS Unitec, Inc. (US), Champion Cutting Tool Corp (US), DeWalt (US), Metabowerke GmbH (Germany), Steelmax Tools LLC (US), Evolution Power Tools (UK), PROMOTECH (Poland), Rotabroach (UK), G&J Hall Tools Inc. (US), Universal Cutting & Drilling Equipment Ltd (UK), C.&E. Fein GmbH (Germany), Alfra Tools LLC. (US), and RUKO GmbH Präzisionswerkzeuge (Germany).
The major factor that boosts the growth of the drilling press market is the increasing demand in the automotive industry. The drilling press machine has a significant share in the automotive industry and is used for several operations to fabricate automotive car parts, frames, etc.
The drilling press market is fairly fragmented in nature, with the presence of large global players and small and medium-sized local players with quite a few players who occupy the market share.
The global drill press market is segmented based on type, drilling diameter, and region. Based on type, the global market has been segmented into hydraulic, electric, and magnetic. Based on drilling diameter, the global market has been segmented into below 2”, 2” to 5”, and above 5”.
Based on type, the electric drill press segment is expected to register the higher growth rate during the forecast period in the global drill press market. This demand for precision and accuracy in the metalwork industry is increasing continuously to minimize the process waste and improve operational efficiency. This is expected to drive the demand for electric drill press machines during the forecast period.
Geographically, the global drill press market has been segmented into four major regions, which are North America, Europe, Asia-Pacific, and the Rest of the world. The drill press market in Asia-Pacific is expected to grow at the highest CAGR in the global drill press market throughout the forecast period. The growth of the manufacturing, metalwork, and automotive industries in countries such as India, China, and Indonesia, is expected to drive the demand for drill press during the forecast period
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type and Drilling Diameter|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||JEI Drilling & Cutting Solutions Ltd (India), Dongcheng Power Tools (India), Hougen Manufacturing Inc (US), Milwaukee Tool (US), CS Unitec, Inc. (US), Champion Cutting Tool Corp (US), DeWalt (US), Metabowerke GmbH (Germany), Steelmax Tools LLC (US), Evolution Power Tools (UK), PROMOTECH (Poland), Rotabroach (UK), G&J Hall Tools Inc. (US), Universal Cutting & Drilling Equipment Ltd (UK), C.&E. Fein GmbH (Germany), Alfra Tools LLC. (US), and RUKO GmbH Präzisionswerkzeuge (Germany)|
|Key Market Opportunities||Increasing investments in R & D activities|
|Key Market Drivers||Manufacturing industry growth|
Frequently Asked Questions (FAQ) :
The global drill press market can rise at 4.15% CAGR by 2025.
The market can value can exceed 825 Million by 2025.
Hydraulic, magnetic, and electric are some drill press applications.
Hougen Manufacturing Inc (US), Dongcheng Power Tools (India), and Milwaukee Tool (US), are some reputed names in drill press market.
The rise in the number of drill press developers can drive the market.