Broaching Machine Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product Type (Vertical Broaching Machine, Horizontal Broaching Machine, and Surface Broaching Machine), By End Users (Automotive, Fabrication, and Industrial Machinery Manufacturing, Aerospace & Defense, Oil and Gas, and Energy, and Others) and Region  

Broaching Machine Market size was valued at US$ 284.6 million in 2022 and which is expected to grow at a CAGR of 6.1% from 2023-2029. Broaching machines are devices that are utilized to broach the metal piece with a toothed instrument called the broaches. The various types of breakers are vertical and horizontal broaching machines. The broaching machine contains a motor, hydraulic drive, ram, broach, draw head, pulling head, follower, bed, and tool support adaptor. These machines are working in the broaching procedure for working in aerospace, automotive, metal industries, and machinery. Vertical broaching machines have high precision and a high production rate for internal and external surface operation when compared to other horizontal broaching machines.

The growing demand from various industries like aerospace, automotive, and others can lead to the Broaching Machine market growth. Broaching is one of the quickest methods for cutting production fragments, chiefly for high-volume manufacturers. The rising demand for precise and high-speed finishing procedures in the industries creates pressure on broaching machine producers and surges the acceptance of technologically advanced machines and automation. Production of automation and related processes helps businesses obtain a modest advantage in the marketplace and decrease costs of operation. Thus, growing demand from the automotive industry can also drive the global market further. However, some factors such as keeping the early capital asset low for small projects, and medium to small size companies buying secondhand machines can restrain the growth of the market. a large number of suppliers and sellers of used machines can hinder market growth. Companies should focus on the technological advancement of the machines and automation that can create an opportunity for the global broaching machine market growth. Moreover, an increase in the adoption of broaching machines in the agriculture and oil and gas industries is an emerging trend in the market.

Broaching Machine Market Key Developments:

• In September 2018, the LG57DS series of servo internal broaching machines which is a high-speed motor was launched by Zhejiang CHR Intelligent Equipment Co., Ltd.