What is Global Broaching Machines Market?
The Global Broaching Machines Market is a comprehensive study of the various aspects of the broaching machines industry on a global scale. Broaching machines are specialized tools used in the manufacturing sector for precise machining, specifically for cutting linear and fixed motion. They are primarily used for removing material from workpieces and are known for their efficiency and accuracy. The global market for these machines is vast and diverse, encompassing a wide range of applications across various industries. The market's value was pegged at US$ 296.2 million in 2022, and it is expected to grow steadily, reaching US$ 385.9 million by 2029. This growth is attributed to the increasing demand for precision machining in various sectors, including automotive, metal fabrication, energy, aerospace, and defense. However, the market dynamics are influenced by several factors, including technological advancements, the availability of substitutes, and the overall economic environment.
Vertical Broaching Machine, Horizontal Broaching Machine in the Global Broaching Machines Market:
The Global Broaching Machines Market is segmented into two main types: Vertical Broaching Machines and Horizontal Broaching Machines. Vertical Broaching Machines are typically used for large-scale industrial applications. They are known for their high-speed operation and ability to handle heavy workloads. On the other hand, Horizontal Broaching Machines are more compact and are often used for smaller, more precise operations. Both types of machines have their unique advantages and are chosen based on the specific requirements of the operation. The top five producers of these machines globally are Nachi-Fujikoshi, Ekin, Mitsubishi Heavy Industries, Forst Technologies, and Hoffmann Räumtechnik, who collectively hold a market share of over 28%.
Automotive, Metal Fabrication, Energy, Aerospace and Defense, Others in the Global Broaching Machines Market:
The usage of broaching machines is widespread across various sectors. In the automotive industry, they are used for manufacturing various components, including gears, sprockets, and other parts that require precise machining. The metal fabrication industry also heavily relies on these machines for various operations, including cutting, shaping, and finishing metal parts. In the energy sector, broaching machines are used for manufacturing components of power generation equipment. The aerospace and defense sectors also use these machines for manufacturing various parts of aircraft and defense equipment. Other industries that use broaching machines include the medical equipment manufacturing industry, the electronics industry, and the construction industry.
Global Broaching Machines Market Outlook:
The market outlook for the Global Broaching Machines Market is positive, with steady growth anticipated in the coming years. The market was valued at US$ 296.2 million in 2022 and is expected to reach US$ 385.9 million by 2029, growing at a CAGR of 3.9% during the forecast period 2023-2029. The top five producers of broaching machines, Nachi-Fujikoshi, Ekin, Mitsubishi Heavy Industries, Forst Technologies, and Hoffmann Räumtechnik, hold a combined market share of over 28%. Europe is the leading producer of these machines, holding a market share of about 40%. In terms of application areas, the automotive sector holds the largest market share, exceeding 35%. This is indicative of the critical role that broaching machines play in the automotive industry, where precision and efficiency are of utmost importance.
| Report Metric | Details |
| Report Name | Broaching Machines Market |
| Accounted market size in 2023 | US$ 307.6 million |
| Forecasted market size in 2029 | US$ 385.9 million |
| CAGR | 3.9 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | Nachi-Fujikoshi, Ekin, Mitsubishi Heavy Industries, Forst Technologie, Hoffmann Räumtechnik, American Broach & Machine, Zhejiang CHR Intelligent Equipment, The Ohio Broach & Machine, Apex Broaching Systems, Gagan Hydraulics, Axisco Precision Machinery, OHTORI KIKO, Steelmans Group, YAO SHENG, Stenhoj Hydraulik, Sunny Enterprises, YEOSHE Hydraulics, Andy Machine Tools |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
