Broaching Machines Market size is set to grow by USD 109.1 million from 2024-2028, increasing demand for CNC-incorporated machine tools boost the market, Technavio

NEW YORK, July 26, 2024 /PRNewswire/ –The global broaching machines market size is estimated to grow by USD 109.1 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 4.5% during the forecast period. Increasing demand for cnc-incorporated machine tools is driving market growth, with a trend towards integration of automation solution providers with broaching machine vendors. However, increasing price competition due to volatile input cost poses a challenge. Key market players include 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..

Continue Reading


Technavio has announced its latest market research report titled Global broaching machines market 2024-2028

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Broaching Machines Market Scope

Report Coverage

Details

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 2022-2023 (%)

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

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 Driver

In the intensely competitive and fragmented broaching machines market, vendors are prioritizing product differentiation through automation. Automated broaching machines are the focus for development, with many vendors partnering with automation suppliers. For instance, Cabe Stozzatrici’s Manaca table-up broaching machines incorporate FANUC control panels. The demand for energy-efficient, high-performance control systems is growing, as electromechanical broaching machines gain popularity. Despite increased market demand for machine tools, vendor profitability remains low. To boost market share and organic growth, many broaching machine vendors are enhancing their product offerings. The integration of automation solutions is a significant trend, as it improves machine performance and provides long-term stability in the market. This automation integration is expected to drive the expansion of the global broaching machines market during the forecast period.

The Broaching Machines Market is experiencing significant growth in various industries, including Industrial Machinery Manufacturing, Aerospace and Defense, and Oil and Gas. Two main types of broaching machines, Vertical and Horizontal, are trending in Metal cutting applications such as Fabrication and Gear making. These machines use Broach tools to shape Metal pieces into desired forms. Vertical Broaching Machines are ideal for fabricating complex shapes, while Horizontal Broaching Machines are suitable for mass production of simple parts. Automation through CNC controls, Servo technology, and Computer Numerical Control (CNC) is driving efficiency in Broaching Machines. Power savings and precision are key benefits of Electromechanical actuators and Hydraulic drives. Industries like Automotive and Heavy Industrial Equipment are utilizing Broaching Machines for manufacturing components like Transmission shafts, Steering wheel hubs, and Steering yokes. Emerging technologies like Hybrid and Electric vehicles require Internal gear cutting and Internal helical broaching. Broaching Machines also cater to niche markets like Aerospace and Defense, producing components for Aircraft engines and Gears for Helicopters. Machines like Lathes, Drilling machines, Boring machines, Milling machines, and Motors are complementary to Broaching Machines. Components like Ball screws, Follower, Bed, Ram, Draw head, and Pulling head are essential parts of these machines. Overall, the Broaching Machines Market is a dynamic and evolving industry, driven by technological advancements and diverse industrial applications.

Discover 360° analysis of this market. For complete information, schedule your consultation – Book Here!

Market Challenges

The cost of producing broaching machines is significantly influenced by the price fluctuations of raw materials, particularly metals such as stainless steel, iron, bronze, and copper. These materials account for a substantial portion of the overall cost, with steel comprising approximately 65-70%. Long-term contracts between key vendors and suppliers help mitigate the impact of raw material price instability on their businesses. However, smaller vendors lack such contracts, making them more vulnerable to these price fluctuations. Inflation, production, and availability are factors that affect the cost of raw materials. Any significant increase in these factors can directly impact the fabrication costs of broaching machines, potentially hindering market growth during the forecast period.
The Broaching Machine market faces several challenges in various industries. In the automotive segment, the rise of electric vehicles necessitates new broaching procedures for battery casings and other components. Internal gear cutting and helical broaching require high precision, posing challenges for electromechanical broach machines. Motor-driven and hydraulic machines, like vertical and horizontal broaching machines, must adapt to these demands. The Metal industries rely on these heavy industrial instruments for metal removal and surface finishing. High-volume manufacturers need technologically advanced machines, while small-scale firms may opt for secondhand machines. CAD systems and CNC control are essential for designing and manufacturing tool support adaptors and other components. Overall, the Broaching Machine market must innovate to meet the evolving needs of the Industrial machinery sector.

For more insights on driver and challenges – Request a sample report!

Segment Overview

This broaching machines market report extensively covers market segmentation by

Product

1.1 Vertical broaching machines
1.2 Horizontal broaching machines
1.3 Others

Geography

2.1 Europe
2.2 APAC
2.3 North America
2.4 South America
2.5 Middle East and Africa

1.1 Vertical broaching machines- Vertical Broaching Machines (VBM) are widely used in various industries for precisely cutting metal parts and surface broaching. These machines are available in two types: push and pull. The table-up type is popular in metal processing due to its portability and flexible manufacturing capabilities. In this type, the broach remains stationary while the workpiece moves along it. The pull-up type, the first vertical broaching machine, positions the workpiece below the broach, which is pulled up to shape the part. The push-down type places the workpiece on top of the table, with the broach pushing down to cut the metal. Notable vendors in this market include AMERICAN BROACH & MACHINE COMPANY, The Ohio Broach & Machine, AXISCO PRECISION MACHINERY, and COLONIAL TOOL GROUP. They offer automated technologies, different broach tools, and aftersales services. Most vendors focus on electromechanical broaching machines due to their energy efficiency. For instance, AXISCO PRECISION MACHINERY’s electromechanical Table-Up Broaching Machines consume 20% less energy than hydraulic machines. The vertical broaching machines market has grown significantly in the automotive industry, metalworking sector, and industrial machine tool production units due to their space efficiency and precision. The innovation in vertical broaching machines, such as electromechanical machines with PLC-based controllers and easy broaching tool change, is driving market growth. The increasing production of electric vehicles in the automotive industry will create significant opportunities for vendors in this segment.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global Metal Cutting Tools market is experiencing significant growth, driven by advancements in manufacturing and increased demand across industries. Market trends show a shift towards high-precision and automated tools to enhance productivity. In India, the Elevator and Escalator market is also expanding rapidly, fueled by urbanization and infrastructure development. The market is expected to grow due to increasing construction activities and rising demand for modernized transportation systems in commercial and residential buildings. Both markets present lucrative opportunities for investors and industry players.

Research Analysis

Broaching machines are specialized industrial machinery used for metal removal and surface finishing. They come in two primary types: vertical and horizontal. Vertical broaching machines utilize a vertical movement of the broaching tool, while horizontal broaching machines employ a horizontal movement. These machines are integral to various industries, including fabrication, automotive, aerospace and defense, oil and gas, and industrial machinery manufacturing. They are driven by motors or hydraulic systems and consist of components like rams, draw heads, pulling heads, followers, and cutting tools. Small-scale firms and heavy industrial instruments use these machines for producing intricate shapes and patterns on metal pieces. CAD systems and CNC technology are often integrated into modern broaching machines for enhanced precision and automation.

Market Research Overview

The Broaching Machine market encompasses Vertical and Horizontal Broaching Machines used for fabrication in various industries, including Industrial Machinery Manufacturing, Aerospace and Defense, Oil and Gas, and Automotive. These machines utilize CNC controls, servo technology, and computer numerical control for automation and high precision metal removal. Key features include electromechanical actuators, hydraulic drives, CNC controls, servo drives, ball screws, and broach tools. Applications span from producing gear making components, transmission shafts, and steering wheel hubs to internal gear cutting and helical broaching. The market caters to both high-volume manufacturers and small-scale firms, offering technologically advanced machines and secondhand options. Power savings, motor integration, and surface finishing are essential considerations. The market serves Metal Industries, Automotive segment, and Industrial machinery sector, as well as emerging markets like Hybrid and Electric vehicles.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Product

Vertical Broaching Machines
Horizontal Broaching Machines
Others

Geography

Europe
APAC
North America
South America
Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

Go to Source