ID: MRFR/IA - E/6962-HCR | February 2021 | Region: Global | 100 pages
Drill Press Market is expected to witness 4.15% CAGR during the forecast period, 2019–2025, and the global drill press market size is expected to reach 825 Million units by 2025.
Drill press, also known as a pillar drill, consists of base, drill press vise, drill press table, drill press jet, drill press stand, drill press mill, drill press guard, drill press accessories, drill press parts, and spindle with the induction motor to execute the drilling operation faster with small or bigger drill bit. A drill press is quite lighter and efficient for operation compared to a hand drill. The drill press is used to create a hole of different sizes in solid materials, and different drills are used for industry-specific applications.
A drill press is widely used in the automobile, printing, and manufacturing industries to increase the durability and tensile strength of the machine with effective execution in resistive materials with quality performance. These advantages are expected to offer promising growth opportunities for the drill press market during the forecast period. However, the growth of the global drill press market might be hindered due to the fluctuating raw material prices.
The increasing investments for carrying out R&D activities in the field of drill press development to improve the overall drill press performance are expected to offer promising growth opportunities for the global drill press market players.
The Prominent Players in the global drill press 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).
SEGMENTATION: GLOBAL DRILL PRESS MARKET
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
The Market Research Future report on the global drill press 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 historic 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.
|Market Size||2025: USD 825 Million|
|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.