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Boring Tools Market by Type, End-user, and Geography - Forecast and Analysis 2023-2027

  • Published: Jan 2023
  • Pages: 168
  • SKU: IRTNTR44228
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The boring tools market is estimated to grow at a CAGR of 7.05% between 2022 and 2027. The size of the market is forecast to increase by USD 1,402.21 million. The growth of the market depends on serval factors, including the emergence of CNC-based boring tools, the growth of metal cutting tools in India, and the growth of the global aircraft industry. 

This report extensively covers market segmentation by type (fine boring tools and rough boring tools), end-user (transportation, general machinery, precision engineering, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the size of the Boring Tools Market During the Forecast Period?

Boring Tools Market Size

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Parent Market Analysis

Technavio categorizes the global boring tools market as a part of the global electrical components and equipment market within the global electrical equipment market. The parent global electrical components and equipment market cover companies engaged in the manufacturing of electric cables and wires, electrical components, and electrical equipment. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

Boring Tools Market: Key Drivers, Trends, Challenges, and Customer Landscape

The growth of the global aircraft industry is notably driving the market growth, although factors such as the rise in popularity of electrical discharge and electrochemical machining may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Boring Tools Market Driver

The growth of the global aircraft industry is notably driving market growth. The global number of air passengers has been increasing consistently since 2012. The growth in the number of air passengers is primarily attributed to the availability of LCC and increasing per capita income in emerging economies such as India and China. Considering the growth opportunities from emerging countries, airlines are focusing on fleet enlargement in such countries. For instance, in October 2019, IndiGo, an India-based airline, placed an order for 300 A320neo family aircraft from Airbus. Such orders for new aircraft are anticipated to increase during the forecast period. 

Additionally, aiming to reduce the backlog and cater to the growing demand, aircraft manufacturing companies are focusing on increasing the pace of aircraft manufacturing. For instance, in 2019, Airbus delivered 863 aircraft, which was higher by 63 units when compared to the number of deliveries in 2018. Such an increase in the production of aircraft will drive the demand for aircraft components such as landing gears, engines, and others. As several components of aircraft require a boring operation to be performed,  therefore, the demand for boring tools is anticipated to increase with the growth in the aircraft industry during the forecast period.

Significant Boring Tools Market Trend

Carbide materials for boring tools are emerging trends in the market. Carbide metal cutting tools are used by companies across various sectors, including automotive, aerospace, shipbuilding, die mold, part manufacturers, tool rooms, heavy industries, electrical and electronics, healthcare, oil and gas, energy, and consumer utilities. Companies are using these tools for increased ease and efficiency in the development of quality products.

Moreover, customers across the globe are insisting on superior-quality products in minimal time and at a reduced cost. Therefore, several organizations have begun to deploy carbide metal-cutting tools such as boring tools, milling tools, drilling tools, tapping tools, reaming tools, counter-boring tools, broaching tools, and gear-cutting tools. The effective deployment of these carbide metal cutting tools helps in reducing the overall lead time in product development. It also enables organizations to develop products that have superior quality to achieve a higher customer satisfaction level. Therefore, such factors will boost the market growth during the forecast period. 

Major Boring Tools Market Challenge

The rise in the popularity of electrical discharge and electrochemical machining are major challenges impeding market growth. The global metal cutting tools market faces a serious threat from technologies such as electrochemical machining (ECM) and electrical discharge machining (EDM). Traditional processes for metal cutting use boring tools that are made of abrasive and hard metals, which are used to cut softer metals. However, non-conventional methods such as ECM and EDM make use of electric current to remove the undesired metal.

EDM is the most widely used non-traditional machining process. A few advantages of EDM include any metal, irrespective of its hardness, can be treated through this technique; unlike the traditional process, no burrs are left on the surface of the workpiece; and thin and fragile components can be easily worked upon using this technique. Similarly, a few advantages of the ECM process include the workpiece is not subjected to mechanical or thermal stress, the use of this technique results in a high surface finish, and no wearing of the tool takes place. Therefore, such factors have been replacing conventional boring tools in many applications, which will have an adverse impact on the market during the forecast period. 

Key Boring Tools Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Boring Tools Market Share by Geography

Global Boring Tools Market Customer Landscape

Who are the Major Boring Tools Market Vendors?

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Allied Machine and Engineering Corp. - The company operates under one segment. The company under this segment offers various products such as drilling tools, boring tools, burnishing tools, threading tools, porting tools, multifunction tools, and various other products. The key offerings of the company include boring tools. 

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • Asahi Diamond Industrial Co. Ltd.
  • Berkshire Hathaway Inc.
  • BIG DAISHOWA SEIKI CO. LTD.
  • Cogsdill Tool Products Inc.
  • Dorian Tool International Inc.
  • Floyd Automatic Tooling Ltd.
  • Fullerton Tool Co.
  • Glanze Engineering Co. Pvt. Ltd.
  • Harvey Performance Co. LLC
  • Internal Tool Inc.
  • Jimmore International Corp.
  • Kennametal Inc.
  • MAPAL Fabrik fur Prazisionswerkzeuge Dr. Kress KG
  • Mitsubishi Materials Corp.
  • NACHI FUJIKOSHI Corp.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Boring Tools Market?

The market share growth by the fine boring tools segment will be significant during the forecast period. In 2022, the fine boring tools segment dominated the boring tools market with a 76.40% share. The increased demand for fine boring tools is due to the increased need for high-quality finishing in the manufacturing industry. 

Boring Tools Market Size

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The fine boring tools segment was valued at USD 2,035.62 million in 2017 and continued to grow until 2021Fine boring tools allow for smaller precision adjustments, which is ideal for finishing holes with tight tolerances. Businesses rely heavily on precision finish boring tools to meet the needs of their customers. Furthermore, they are ideal for short-run projects with a large amount of stock remaining in the hole. Finished boring is a versatile method that enables operators to create a wide range of hole sizes with the same tool. To achieve the best results and precision, fine boring heads may benefit from digital technology. Hence, such factors are anticipated to drive the growth of the fine boring tools segment during the forecast period.

Which are the Key Regions for the Boring Tools Market?

Boring Tools Market Share by Geography

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APAC is estimated to contribute 53% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

Countries like China, India, Japan, South Korea, and Taiwan are the main consumers of cutting tools, of which boring tools is one key sub-segment. In India, attractive foreign policies like Skill India and Make in India, the favorable business landscape, the rise in purchasing power, the availability of raw materials, and lower wages of the skilled workforce are encouraging manufacturers from developed countries to setup up their manufacturing units in this region. For instance, auto companies like Daimler, BMW, and Ford have enhanced their production capabilities in India in the past five years. Moreover, in June 2020, the Government of India initiated the Self-Reliant India campaign, under which governing bodies are encouraging the local manufacturing of various industrial equipment and machinery. This will drive manufacturing activities across the country during the forecast period, which will drive the demand for boring tools.

Furthermore, Vietnam is also witnessing significant economic growth, which is mainly attributed to its manufacturing sector. It has become one of the hottest markets in Southeast Asia and is continuously attracting manufacturers to establish their production units in the country. One of the major attractions of Vietnam's manufacturing sector lies in its working labor force; with around two-thirds of the population under the age of 35 years, Vietnam offers a high labor potential, which is a boon for any manufacturing industry. Such factors will drive regional market growth during the forecast period. 

In 2020, the outbreak of COVID-19 had a negative impact on the market in the region. However, following the lifting of the lockdown restrictions in APAC, owing to mass vaccination drives in 2021, the operations of the boring tool manufacturing facilities resumed across the region, which fueled the demand for boring tools in APAC in 2021 and 2022.  Therefore, the market in APAC is expected to propel during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Type (Fine boring tools and Rough boring tools), End-user (Transportation, General machinery, Precision engineering, and Others), and Geography (APAC, Europe, North America, South America, and Middle East and Africa).

  • Type Outlook (USD Million, 2017 - 2027)
    • Fine boring tools
    • Rough boring tools
  • End-user Outlook (USD Million, 2017 - 2027)
    • Transportation
    • General Machinery
    • Precision engineering
    • Others
  • Region Outlook (USD Million, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa
    • South America
      • Chile
      • Brazil
      • Argentina

Boring Tools Market Scope

Report Coverage

Details

Page number

168

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 7.05%

Market growth 2023-2027

USD 1,402.21 million

Market structure

Fragmented

YoY growth 2022-2023(%)

5.87

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 53%

Key countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Allied Machine and Engineering Corp., Asahi Diamond Industrial Co. Ltd., Berkshire Hathaway Inc., BIG DAISHOWA SEIKI CO. LTD., Cogsdill Tool Products Inc., Dorian Tool International Inc., Floyd Automatic Tooling Ltd., Fullerton Tool Co., Glanze Engineering Co. Pvt. Ltd., Harvey Performance Co. LLC, Internal Tool Inc., Jimmore International Corp., Kennametal Inc., MAPAL Fabrik fur Prazisionswerkzeuge Dr. Kress KG, Mitsubishi Materials Corp., NACHI FUJIKOSHI Corp., OSG Corp., Plansee SE, R and R Bassett Engineering Ltd., and Sandvik AB

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. 

Customization purview

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What are the Key Data Covered in this Boring Tools Market Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the boring tools market between 2023 and 2027
  • Precise estimation of the boring tools market size and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the industry across APAC, Europe, North America, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of boring tools market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global boring tools market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global boring tools market 2017 - 2021 ($ million)
    • 4.2 Types Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Types Segment 2017 - 2021 ($ million)
    • 4.3 End-user Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Type

    • 6.1 Market segments
      • Exhibit 30: Chart on Type - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Type - Market share 2022-2027 (%)
    • 6.2 Comparison by Type
      • Exhibit 32: Chart on Comparison by Type
      • Exhibit 33: Data Table on Comparison by Type
    • 6.3 Fine boring tools - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Fine boring tools - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on Fine boring tools - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on Fine boring tools - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Fine boring tools - Year-over-year growth 2022-2027 (%)
    • 6.4 Rough boring tools - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Rough boring tools - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on Rough boring tools - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on Rough boring tools - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Rough boring tools - Year-over-year growth 2022-2027 (%)
    • 6.5 Market opportunity by Type
      • Exhibit 42: Market opportunity by Type ($ million)

    7 Market Segmentation by End-user

    • 7.1 Market segments
      • Exhibit 43: Chart on End-user - Market share 2022-2027 (%)
      • Exhibit 44: Data Table on End-user - Market share 2022-2027 (%)
    • 7.2 Comparison by End-user
      • Exhibit 45: Chart on Comparison by End-user
      • Exhibit 46: Data Table on Comparison by End-user
    • 7.3 Transportation - Market size and forecast 2022-2027
      • Exhibit 47: Chart on Transportation - Market size and forecast 2022-2027 ($ million)
      • Exhibit 48: Data Table on Transportation - Market size and forecast 2022-2027 ($ million)
      • Exhibit 49: Chart on Transportation - Year-over-year growth 2022-2027 (%)
      • Exhibit 50: Data Table on Transportation - Year-over-year growth 2022-2027 (%)
    • 7.4 General machinery - Market size and forecast 2022-2027
      • Exhibit 51: Chart on General machinery - Market size and forecast 2022-2027 ($ million)
      • Exhibit 52: Data Table on General machinery - Market size and forecast 2022-2027 ($ million)
      • Exhibit 53: Chart on General machinery - Year-over-year growth 2022-2027 (%)
      • Exhibit 54: Data Table on General machinery - Year-over-year growth 2022-2027 (%)
    • 7.5 Precision engineering - Market size and forecast 2022-2027
      • Exhibit 55: Chart on Precision engineering - Market size and forecast 2022-2027 ($ million)
      • Exhibit 56: Data Table on Precision engineering - Market size and forecast 2022-2027 ($ million)
      • Exhibit 57: Chart on Precision engineering - Year-over-year growth 2022-2027 (%)
      • Exhibit 58: Data Table on Precision engineering - Year-over-year growth 2022-2027 (%)
    • 7.6 Others - Market size and forecast 2022-2027
      • Exhibit 59: Chart on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 60: Data Table on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 61: Chart on Others - Year-over-year growth 2022-2027 (%)
      • Exhibit 62: Data Table on Others - Year-over-year growth 2022-2027 (%)
    • 7.7 Market opportunity by End-user
      • Exhibit 63: Market opportunity by End-user ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 65: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 66: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 67: Chart on Geographic comparison
      • Exhibit 68: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2022-2027
      • Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.4 Europe - Market size and forecast 2022-2027
      • Exhibit 73: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 74: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 75: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.5 North America - Market size and forecast 2022-2027
      • Exhibit 77: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 78: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 79: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 China - Market size and forecast 2022-2027
      • Exhibit 89: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 90: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 91: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.9 US - Market size and forecast 2022-2027
      • Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.10 Germany - Market size and forecast 2022-2027
      • Exhibit 97: Chart on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 98: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 99: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.11 Japan - Market size and forecast 2022-2027
      • Exhibit 101: Chart on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 102: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 103: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.12 UK - Market size and forecast 2022-2027
      • Exhibit 105: Chart on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 106: Data Table on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 107: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 108: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 109: Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 110: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 111: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 112: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 113: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 114: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 115: Matrix on vendor position and classification
            • 12.3 Allied Machine and Engineering Corp.
              • Exhibit 116: Allied Machine and Engineering Corp. - Overview
              • Exhibit 117: Allied Machine and Engineering Corp. - Product / Service
              • Exhibit 118: Allied Machine and Engineering Corp. - Key offerings
            • 12.4 Berkshire Hathaway Inc.
              • Exhibit 119: Berkshire Hathaway Inc. - Overview
              • Exhibit 120: Berkshire Hathaway Inc. - Business segments
              • Exhibit 121: Berkshire Hathaway Inc. - Key news
              • Exhibit 122: Berkshire Hathaway Inc. - Key offerings
              • Exhibit 123: Berkshire Hathaway Inc. - Segment focus
            • 12.5 BIG DAISHOWA SEIKI CO. LTD.
              • Exhibit 124: BIG DAISHOWA SEIKI CO. LTD. - Overview
              • Exhibit 125: BIG DAISHOWA SEIKI CO. LTD. - Product / Service
              • Exhibit 126: BIG DAISHOWA SEIKI CO. LTD. - Key offerings
            • 12.6 Cogsdill Tool Products Inc.
              • Exhibit 127: Cogsdill Tool Products Inc. - Overview
              • Exhibit 128: Cogsdill Tool Products Inc. - Product / Service
              • Exhibit 129: Cogsdill Tool Products Inc. - Key offerings
            • 12.7 Dorian Tool International Inc.
              • Exhibit 130: Dorian Tool International Inc. - Overview
              • Exhibit 131: Dorian Tool International Inc. - Product / Service
              • Exhibit 132: Dorian Tool International Inc. - Key offerings
            • 12.8 Fullerton Tool Co.
              • Exhibit 133: Fullerton Tool Co. - Overview
              • Exhibit 134: Fullerton Tool Co. - Product / Service
              • Exhibit 135: Fullerton Tool Co. - Key offerings
            • 12.9 Glanze Engineering Co. Pvt. Ltd.
              • Exhibit 136: Glanze Engineering Co. Pvt. Ltd. - Overview
              • Exhibit 137: Glanze Engineering Co. Pvt. Ltd. - Product / Service
              • Exhibit 138: Glanze Engineering Co. Pvt. Ltd. - Key offerings
            • 12.10 Harvey Performance Co. LLC
              • Exhibit 139: Harvey Performance Co. LLC - Overview
              • Exhibit 140: Harvey Performance Co. LLC - Product / Service
              • Exhibit 141: Harvey Performance Co. LLC - Key offerings
            • 12.11 Internal Tool Inc.
              • Exhibit 142: Internal Tool Inc. - Overview
              • Exhibit 143: Internal Tool Inc. - Product / Service
              • Exhibit 144: Internal Tool Inc. - Key offerings
            • 12.12 Kennametal Inc.
              • Exhibit 145: Kennametal Inc. - Overview
              • Exhibit 146: Kennametal Inc. - Business segments
              • Exhibit 147: Kennametal Inc. - Key offerings
              • Exhibit 148: Kennametal Inc. - Segment focus
            • 12.13 Mitsubishi Materials Corp.
              • Exhibit 149: Mitsubishi Materials Corp. - Overview
              • Exhibit 150: Mitsubishi Materials Corp. - Business segments
              • Exhibit 151: Mitsubishi Materials Corp. - Key offerings
              • Exhibit 152: Mitsubishi Materials Corp. - Segment focus
            • 12.14 NACHI FUJIKOSHI Corp.
              • Exhibit 153: NACHI FUJIKOSHI Corp. - Overview
              • Exhibit 154: NACHI FUJIKOSHI Corp. - Business segments
              • Exhibit 155: NACHI FUJIKOSHI Corp. - Key news
              • Exhibit 156: NACHI FUJIKOSHI Corp. - Key offerings
              • Exhibit 157: NACHI FUJIKOSHI Corp. - Segment focus
            • 12.15 OSG Corp.
              • Exhibit 158: OSG Corp. - Overview
              • Exhibit 159: OSG Corp. - Business segments
              • Exhibit 160: OSG Corp. - Key news
              • Exhibit 161: OSG Corp. - Key offerings
              • Exhibit 162: OSG Corp. - Segment focus
            • 12.16 Plansee SE
              • Exhibit 163: Plansee SE - Overview
              • Exhibit 164: Plansee SE - Product / Service
              • Exhibit 165: Plansee SE - Key offerings
            • 12.17 Sandvik AB
              • Exhibit 166: Sandvik AB - Overview
              • Exhibit 167: Sandvik AB - Business segments
              • Exhibit 168: Sandvik AB - Key news
              • Exhibit 169: Sandvik AB - Key offerings
              • Exhibit 170: Sandvik AB - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 171: Inclusions checklist
                • Exhibit 172: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 173: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 174: Research methodology
                • Exhibit 175: Validation techniques employed for market sizing
                • Exhibit 176: Information sources
              • 13.5 List of abbreviations
                • Exhibit 177: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
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              TechnavioREPORT WRITING

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              Boring Tools market growth will increase by $1402.21 million during 2023-2027.
              The boring tools market is expected to grow at a CAGR of 7.05% during 2023-2027.
              Technavio has segmented the boring tools market by type (Fine boring tools, Rough boring tools, Precision engineering, and Others) ,end-user (Transportation, General machinery, Precision engineering, and Others) , and geography (APAC, Europe, North America, South America, and Middle East and Africa).
              Allied Machine and Engineering Corp., Asahi Diamond Industrial Co. Ltd., Berkshire Hathaway Inc., BIG DAISHOWA SEIKI CO. LTD., Cogsdill Tool Products Inc., Dorian Tool International Inc., Floyd Automatic Tooling Ltd., Fullerton Tool Co., Glanze Engineering Co. Pvt. Ltd., Harvey Performance Co. LLC, Internal Tool Inc., Jimmore International Corp., Kennametal Inc., MAPAL Fabrik fur Prazisionswerkzeuge Dr. Kress KG, Mitsubishi Materials Corp., NACHI FUJIKOSHI Corp., OSG Corp., Plansee SE, R and R Bassett Engineering Ltd., Sandvik AB are a few of the key vendors in the boring tools market.
              APAC will register the highest growth rate of 52.76% among the other regions. Therefore, the boring tools market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the boring tools market growth are:
              • Emergence of CNC-based boring tools
              • Additive manufacturing
              The boring tools market vendors should focus on grabbing business opportunities from the fine boring tools segment as it accounted for the largest market share in the base year.
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