COVID-19 Impact on Deep Hole Drilling Machines Market 2021 | OPPORTUNITIES, REGIONAL OVERVIEW, TOP LEADERS, REVENUE AND FORECAST TO 2027

Asia-Pacific is the highest contributor in the deep hole drilling machines market. China holds majority of the global share in consumption, mainly owing to high demand for machine tools in manufacturing processes. Its growing automobile industry also boosts demand for deep hole drilling machines in the country. However, to curb this competition, countries such as the U.S., Germany, and other European countries are focused on developing new technologies in the deep hole drilling industry to sustain their market share during the forecast period.

According to type, the gun drilling machines segment has the maximum contribution in the deep hole drilling machines market, owing to their versatility and high precision. In addition, rise in demand for gun drilling machines owing to surge in demand from medical industry, electric vehicles, and other precise machinery.

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The COVID-19 pandemic has negatively affected the deep hole drilling machines market, owing to halt in international trade, prolonged lockdowns, and ceased manufacturing processes. In addition, major end-user companies located in countries such as the U.S., China, Germany, and the UK are also facing financial impacts, owing to halt in production, which is expected to hinder growth of the deep hole drilling machines market during 2020.

The global deep hole drilling machines market is segmented on the basis of type, operation, end-user industry, business type, and region. By type, the deep hole drilling machines market is divided into BTA drilling machines and gun drilling machines. According to operation, it is categorized into CNC and non-CNC. By end-user industry, it is classified into construction, mining, automotive, military & defense, oil & gas, energy, die mold, heat exchanger plate machining, medical, electronics, machine tool, and others. On the basis of business type, it is bifurcated into OEM and aftermarket. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Russia, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Vietnam, South Korea, Thailand, Indonesia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

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Key Findings Of The Study

By type, the gun drilling machines segment accounted for maximum share of the deep hole drilling machines industry in 2019.

By operation, the CNC segment is anticipated to garner highest revenue during the forecast period.
By end-user industry, the automotive segment generated highest revenue during 2019 in the deep hole drilling machines market.

On the basis of business type, the OEM segment is expected to generate major market share during the study period.

By region, Asia-Pacific accounted for largest share of the market in 2019.

Key market players profiled in the report include Entrust Manufacturing Technologies, Inc (UNISIG), HONG JI Precision Machinery Ltd., Hochent (Shanghai) Machinery Development Co., Ltd. (HTT), KGD. Co., Ltd. (Korea Gundrill), I.M.S.A. S.r.l., Mollart Engineering Limited, TBT Tiefbohrtechnik GmbH + Co., TIBO Tiefbohrtechnik GmbH, Cheto Corporation S.A., Galbiati Costruzioni Meccaniche S.r.l., Loch Präzisions Bohrtechnik GmbH, Kennametal India Limited (WIDMA _Machining Solutions Group), Frankor Hydraulics, Kays Engineering Inc, and Precihole Machine Tools Pvt Ltd.

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