DUBLIN--(BUSINESS WIRE )--The "Deep Hole Drilling Machines Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global deep hole drilling machines market exhibited moderate growth during 2015-2020. Looking forward, the publisher expects the market to grow at a CAGR of around 5% during 2021-2026.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.
A deep hole drilling machine is a mechanical equipment used for cutting through metals in deep and precise holes. The machine can be used on metals, such as alloy and stainless steel, aluminum, titanium, cast iron and copper alloys and consists of a cutting tool, or a drill, which is fitted into the spindle internal taper.
The rotating drill is pressed at the desired location and is inserted into the metal to generate a hole with the required diameter. It is primarily used for manufacturing straight and precisely drilled workpieces. The machine facilitates multi-speed transmissions with multiple off-center holes for hydraulic sequencing and lubrication.
Deep Hole Drilling Machine Market Trends
Significant growth in the automotive industry across the globe is one of the key factors creating a positive outlook for the market growth. Deep hole drilling machines are widely used in the manufacturing of various automobile components, such as transmission shafts, engine blocks, camshafts and airbag propellant chambers.
Moreover, the extensive adoption of drilling machines in the fabrication of titanium and surgical-grade steel-based healthcare and surgical tools, is providing a thrust to the market growth. Drill holes aid in enhancing the structural integrity of the tools by providing high strength-to-weight ratio and resistance to corrosion.
Various product innovations, such as the development of multi-purpose material removal machines, which consist of multiple cutting equipment in a single machine, are also contributing to the growth of the market.
Other factors, including rapid industrialization, along with the increasing adoption of automation and advancements in manufacturing processes, are anticipated to drive the market toward growth.
Key Questions Answered in This Report:
The competitive landscape of the industry has also been examined along with the profiles of the key players being
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900