Drilling Equipment Market size was valued at US$ 25,726.3 million in 2023 and is poised to gow at 5.5% CAGR over 2024-2030. The Drilling machines are used to drill, tap, ream, and counterbore holes in wood and metal. They are commonly employed in the fabrication of heavy equipment, such as machinery for the construction and packaging industries. Lightweight portable drilling equipment are required for woodworking in both residential and non-residential locations. Precision in drilling holes at a specific depth and size is critical. The drilling bits used in drilling and milling machines have a specific rotating speed based on the softness or hardness of the material and the purpose of drilling.
The market is predicted to rise due to factors such as increased demand for fabricated metal products, the development of the heavy equipment industry, and an increase in large-scale industrial automation. Furthermore, advancements in manufacturing machinery and government efforts related to the machine tool industry give profitable potential opportunities for the market. However, fluctuations in raw material prices and a shortage of trained workers in the industrial sector impede the growth of the drilling machine market.
Study Period
2024-2030Base Year
2023CAGR
5.8%Largest Market
Asia PacificFastest Growing Market
Asia Pacific
The rising demand from the automobile industry is one of the main drivers driving the expansion of drilling machines. According to industry experts, global light car manufacturing units have been spectacular and will only continue to expand. Furthermore, the market's expansion is being driven primarily by increased demand from a variety of end-user sectors around the world, including automotive, aerospace, and others. Furthermore, the market is being driven by rising demand for fabricated metal products, the development of heavy industrial equipment, improvements in production processes, and the adoption of cutting-edge technologies.
Furthermore, the development of multi-purpose material removal machines, which combine various cutting tools into a single machine (such as milling, drilling, and so on), has gained traction. Furthermore, developments in manufacturing machinery and government efforts in the machine tool industry create profitable growth prospects for the market. The heavy equipment sector is expected to dominate the market in the future because to increased demand for such equipment in the construction and manufacturing industries, where large-scale machined manufacture necessitates precisely drilled holes for fittings and other connections.
Based on regions, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Asia Pacific is predicted to account for a significant share of drilling equipment due to the region having the most industrial plants, and the use of drilling machines is widespread. China is predicted to be the region's dominant country due to its massive industrial sector. Furthermore, automotive is one of China's pillar sectors and remains the world's largest vehicle industry. In April 2022, around 210,000 commercial vehicles and 996,000 passenger cars were produced in China. This region's economies have cheap operating expenses, attracting enterprises from larger manufacturing bases and countries.
China has recently seen tighter regulations and rising wages, resulting in a rise in operational expenses as it prepares to shift toward higher-value manufacturing. As a result, to fill the void left by China, firms are going to the ASEAN area for lower-value production networks that have already been fully integrated into global manufacturing value chains. Moreover, Rapid urbanization, industrialization, high disposable income, and increased R&D activities linked to technology improvement are among the factors predicted to drive demand for drilling machines in the Asia-Pacific region.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 25,726.3 million |
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Market CAGR |
5.8% |
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By Type |
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By End User |
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The Drilling Equipment Market was valued at US$ 25,726.3 million in 2023 and is projected to grow at a CAGR of 5.8%.
The rising demand from the automobile industry is a primary factor driving the expansion of drilling machines.
The drilling machine market is driven by increased demand for fabricated metal goods and heavy equipment.
Market research is segmented based on type, end-user and region.
APAC is estimated to fastest growing region with the highest CAGR over the forecast period.
| 1.Executive Summary |
| 2.Global Drilling Equipment Market Introduction |
| 2.1.Global Drilling Equipment Market - Taxonomy |
| 2.2.Global Drilling Equipment Market - Definitions |
| 2.2.1.Type |
| 2.2.2.End User |
| 2.2.3.Region |
| 3.Global Drilling Equipment Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Drilling Equipment Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Drilling Equipment Market By Type , 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Sensitive Drilling Machine |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Radial Drilling Machine |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Upright Drilling Machine |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Gang Drilling Machine |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Deep Hole Drilling Machine |
| 5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 5.6. Multiple Spindle Drilling Machine |
| 5.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.6.3. Market Opportunity Analysis |
| 5.7. Others |
| 5.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.7.3. Market Opportunity Analysis |
| 6.Global Drilling Equipment Market By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Automotive |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Heavy Equipment |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Aerospace |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Energy Industry |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Military and Defence |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Oil and Gas |
| 6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 6.7. Others |
| 6.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.7.3. Market Opportunity Analysis |
| 7.Global Drilling Equipment Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia Pacific (APAC) |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Middle East and Africa (MEA) |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Latin America |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8.North America Drilling Equipment Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1.Sensitive Drilling Machine |
| 8.1.2.Radial Drilling Machine |
| 8.1.3.Upright Drilling Machine |
| 8.1.4.Gang Drilling Machine |
| 8.1.5.Deep Hole Drilling Machine |
| 8.1.6.Multiple Spindle Drilling Machine |
| 8.1.7.Others |
| 8.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1.Automotive |
| 8.2.2.Heavy Equipment |
| 8.2.3.Aerospace |
| 8.2.4.Energy Industry |
| 8.2.5.Military and Defence |
| 8.2.6.Oil and Gas |
| 8.2.7.Others |
| 8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.3.1.United States of America (USA) |
| 8.3.2.Canada |
| 9.Europe Drilling Equipment Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Sensitive Drilling Machine |
| 9.1.2.Radial Drilling Machine |
| 9.1.3.Upright Drilling Machine |
| 9.1.4.Gang Drilling Machine |
| 9.1.5.Deep Hole Drilling Machine |
| 9.1.6.Multiple Spindle Drilling Machine |
| 9.1.7.Others |
| 9.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Automotive |
| 9.2.2.Heavy Equipment |
| 9.2.3.Aerospace |
| 9.2.4.Energy Industry |
| 9.2.5.Military and Defence |
| 9.2.6.Oil and Gas |
| 9.2.7.Others |
| 9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Germany |
| 9.3.2.France |
| 9.3.3.Italy |
| 9.3.4.United Kingdom (UK) |
| 9.3.5.Spain |
| 10.Asia Pacific (APAC) Drilling Equipment Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Sensitive Drilling Machine |
| 10.1.2.Radial Drilling Machine |
| 10.1.3.Upright Drilling Machine |
| 10.1.4.Gang Drilling Machine |
| 10.1.5.Deep Hole Drilling Machine |
| 10.1.6.Multiple Spindle Drilling Machine |
| 10.1.7.Others |
| 10.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Automotive |
| 10.2.2.Heavy Equipment |
| 10.2.3.Aerospace |
| 10.2.4.Energy Industry |
| 10.2.5.Military and Defence |
| 10.2.6.Oil and Gas |
| 10.2.7.Others |
| 10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.China |
| 10.3.2.India |
| 10.3.3.Australia and New Zealand (ANZ) |
| 10.3.4.Japan |
| 10.3.5.Rest of APAC |
| 11.Middle East and Africa (MEA) Drilling Equipment Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Sensitive Drilling Machine |
| 11.1.2.Radial Drilling Machine |
| 11.1.3.Upright Drilling Machine |
| 11.1.4.Gang Drilling Machine |
| 11.1.5.Deep Hole Drilling Machine |
| 11.1.6.Multiple Spindle Drilling Machine |
| 11.1.7.Others |
| 11.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Automotive |
| 11.2.2.Heavy Equipment |
| 11.2.3.Aerospace |
| 11.2.4.Energy Industry |
| 11.2.5.Military and Defence |
| 11.2.6.Oil and Gas |
| 11.2.7.Others |
| 11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.GCC Countries |
| 11.3.2.South Africa |
| 11.3.3.Rest of MEA |
| 12.Latin America Drilling Equipment Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Sensitive Drilling Machine |
| 12.1.2.Radial Drilling Machine |
| 12.1.3.Upright Drilling Machine |
| 12.1.4.Gang Drilling Machine |
| 12.1.5.Deep Hole Drilling Machine |
| 12.1.6.Multiple Spindle Drilling Machine |
| 12.1.7.Others |
| 12.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Automotive |
| 12.2.2.Heavy Equipment |
| 12.2.3.Aerospace |
| 12.2.4.Energy Industry |
| 12.2.5.Military and Defence |
| 12.2.6.Oil and Gas |
| 12.2.7.Others |
| 12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Brazil |
| 12.3.2.Mexico |
| 12.3.3.Rest of LA |
| 13. Competition Landscape |
| 13.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 13.2.1.DMG Mori |
| 13.2.2.Kaufman Mfg Co |
| 13.2.3.Minitool, Inc |
| 13.2.4.Scantool Group |
| 13.2.5.Taiwan Winnerstech Machinery Co, Ltd |
| 13.2.6.Fehlmann AG |
| 13.2.7.LTF SpA |
| 13.2.8.Gate Machinery International Limited |
| 13.2.9.Shenyang Machine Tool Corp Ltd |
| 13.2.10.Dalian Machine Tool Corporation |
| 14. Research Methodology |
| 15. Appendix and Abbreviations |
Key Market Players
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