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The broaching machines market size is forecast to increase by USD 109.1 million, at a CAGR of 4.5% between 2023 and 2028. The market is witnessing growing demand for CNC-incorporated machine tools, driven by increasing construction activities in emerging APAC nations and a rising need for fabricated metal products. This trend underscores a strategic response to meet expanding infrastructure development and industrial requirements in the region. CNC-incorporated machine tools are favored for their precision, efficiency, and versatility in manufacturing various metal components and products. The surge in construction activities across APAC nations not only boosts the demand for CNC machine tools but also drives the production of fabricated metal products essential for infrastructure projects. This convergence of factors highlights a pivotal phase in the market, characterized by technological advancements and increasing industrialization, which collectively support economic growth and development across the region. The report provides market size, historical data spanning from 2018 - 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
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The market encompasses the production and distribution of Vertical Broaching Machines and Horizontal Broaching Machines. These machines are integral components of Industrial Machinery Manufacturing, serving various sectors such as Aerospace and Defense, Oil and Gas, Automotive, and Heavy Industrial Instruments. Broaching machines are toothed instruments used for metal removal and surface finishing. They come in two primary types: Vertical Broaching Machines and Horizontal Broaching Machines. The former is suitable for fabricating complex metal pieces, while the latter is ideal for mass production. Motor and hydraulic drive systems power these machines. Vertical broaching machines use a ram, draw head, and pulling head, while horizontal broaching machines employ a follower. The cutting tools in these machines ensure efficient metal removal. Small-scale firms and large industrial enterprises alike utilize CAD systems and CNC technology to design and manufacture these machines. The market is a significant contributor to the Industrial Machinery Sector and the Automotive Segment, providing heavy industrial instruments for metal piece production and surface finishing.
Increasing demand for CNC-incorporated machine tools is notably driving market growth. In the realm of metal industries, broaching machines have emerged as indispensable tools for high-precision metal removal and surface finishing. These technologically advanced machines, comprised of a ram, draw head, pulling head, follower, bed, and tool support adaptor, facilitate the broaching procedure with minimal human intervention. The market for broaching machines caters to various sectors, including automotive and industrial machinery, serving both high-volume manufacturers and small-scale firms.
Further, the machines' efficiency and accuracy enable the incorporation of new technologies, making them a valuable asset in heavy industrial instruments. The broaching process involves the use of a cutting tool that follows a predetermined pattern to remove metal, ensuring maximum accuracy. The market for secondhand broaching machines also thrives due to their cost-effectiveness and the ability to maintain high productivity levels. CAD systems and CNC technology have further enhanced the capabilities of broaching machines, enabling operators to easily program and manufacture parts with minimal skill requirements. Thus, such factors are driving the growth of the market during the forecast period.
Integration of automation solution providers with broaching machine companies is the key trend in the market. In the dynamic and intensely competitive Broaching Machine market, vendors are compelled to distinguish their offerings from competitors. Product differentiation, particularly in the realm of automation, has emerged as a key focus area. Consequently, alliances between broaching machine manufacturers and automation vendors have become prevalent. For instance, Cabe Stozzatrici's Manaca table-up broaching machines incorporate FANUC control panels. The escalating demand for electromechanical broaching machines necessitates robust control systems that are energy-efficient and deliver superior results. The Broaching Machine market caters to various industries, including the automotive and industrial machinery sectors. High-volume manufacturers rely on technologically advanced machines for metal removal and surface finishing. Small-scale firms, too, benefit from these machines, which facilitate high-precision broaching procedures. The bed, draw head, pulling head, follower, and tool support adaptor are essential components of a broaching machine.
Moreover, the market for secondhand machines is also significant, catering to the needs of industries that require cost-effective solutions. Technologically advanced machines, such as those with CAD systems and CNC controls, are increasingly popular due to their ability to enhance productivity and improve accuracy. The broaching procedure involves the use of a cutting tool to remove metal, resulting in precise and smooth surfaces. The automotive segment is a significant consumer of broaching machines, as they are essential for manufacturing various automotive components. In conclusion, the Broaching Machine market is a vital component of the industrial machinery sector, catering to the needs of various industries for high-precision metal removal and surface finishing. The integration of automation and advanced control systems has transformed these machines into indispensable tools for enhancing productivity and improving product quality. Thus, such trends will shape the growth of the market during the forecast period.
Increasing price competition due to volatile input cost is the major challenge that affects the growth of the market. In the Broaching Machine market, the cost of production is influenced by the price instability of key raw materials, such as stainless steel, iron, bronze, and copper. The majority of these machines are manufactured using a steel mono-block, making fluctuations in steel prices particularly impactful. The broaching procedure involves the use of a draw head, pulling head, follower, bed, and tool support adaptor for high-precision metal removal.
Further, small-scale firms, however, may not have the financial resources to secure long-term contracts with suppliers, making them more vulnerable to raw material price fluctuations. The market for secondhand machines offers an alternative solution for cost-conscious buyers. The Metal industries sector continues to drive demand for broaching machines due to their efficiency and versatility in metal removal and cutting tool applications. These machines are essential instruments in the realm of heavy industrial manufacturing. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting 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 market growth analysis strategies.
Customer Landscape
Companies 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.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The vertical broaching machines segment is estimated to witness significant growth during the forecast period. Vertical Broaching Machines and Horizontal Broaching Machines are essential tools in the realm of industrial machinery manufacturing, particularly in fabrication processes for various industries such as Aerospace and Defense, Oil and Gas, and Automotive. These machines play a pivotal role in metal cutting applications, including gear making and broach tools production. Vertical Broaching Machines, specifically, are available in both electromechanical and hydraulic types. The electromechanical variant employs servo technology and Computer Numerical Control (CNC) for automation, while the hydraulic type utilizes hydraulic drives and CNC controls with servo drives and ball screws for precision movement. The table-up type of Vertical Broaching Machines is popular due to its portability and specialized re-tooling options, making it a preferred choice for modern manufacturing concepts.
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The vertical broaching machines segment accounted for USD 241.70 million in 2018. Further, both Vertical and Horizontal Broaching Machines contribute significantly to the production of heavy industrial equipment and components, such as gears, transmission shafts, and internal gear cutting. The integration of power savings technologies, including Servo technology and Software technology, ensures efficient and cost-effective manufacturing processes. In summary, Broaching Machines, whether Vertical or Horizontal, play a crucial role in various industries by providing precise metal cutting capabilities through the use of advanced technologies and automation systems. These machines are integral to the production of essential components for industries such as Aerospace and Defense, Oil and Gas, and Automotive.
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APAC is estimated to contribute 38% 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. The market encompasses Vertical Broaching Machines and Horizontal Broaching Machines, which are essential tools in the realm of Fabrication and Industrial Machinery Manufacturing. These machines play a pivotal role in various sectors such as Aerospace and Defense, Oil and Gas, and Automation. The integration of Computer Numerical Control (CNC), Servo technology, and Software technology has revolutionized the market, enabling Power savings and enhanced Metal cutting capabilities. Further, the Metal piece undergoes a series of toothing processes using Toothed instruments, resulting in the production of high-quality components. The integration of Motors, Hydraulic drives, and advanced control systems like CNC controls and Servo drives ensures optimal performance and productivity.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Million " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
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The market encompasses the production and distribution of machinery designed for broaching processes. These machines are essential in manufacturing industries for producing precise and intricate shapes in various materials. The market consists of different types, including horizontal and vertical broaching machines, manual and CNC broaching machines, and single and multi-spindle broaching machines. The market is driven by factors such as increasing demand for automation in manufacturing processes and the need for high precision and productivity. Additionally, the growing trend towards mass customization and the adoption of advanced technologies like CNC and automation are expected to fuel market growth. The market caters to diverse industries, including automotive, aerospace, and heavy machinery manufacturing. The market is competitive, with key players focusing on product innovation, expanding their product portfolios, and enhancing their distribution networks to gain a competitive edge.
Market Scope |
|
Report Coverage |
Details |
Page number |
142 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
Market growth 2024-2028 |
USD 109.1 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.24 |
Regional analysis |
Europe, APAC, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 38% |
Key countries |
China, Germany, US, UK, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Accu Cut Diamond Tool Co., American Broach and Machine Co., Andy Machine Tools, Apex Broaching Systems Inc., Arthur Klink GmbH, Axisco Precision Machinery Co. Ltd., Broaching Machine Specialties, Colonial Tool Group Inc., ekin S. Coop., Forest Technology GmbH and Co. KG, General Broach Co., Hoffmann Group, Miller Broach, Mitsubishi Heavy Industries Ltd., NACHI FUJIKOSHI Corp., Phoenix Inc., Pioneer Broach Co., Stenhoj Hydraulik AS, Sunny Enterprises Co. Ltd., The Ohio Broach and Machine Co., Ty Miles Inc., V W Broaching Service Inc., and YEOSHE HYDRAULICS CO. LTD. |
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, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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