
Global Boring Tools Market Size Study, by Type (Drill Bits, Drilling Tubulars, Drilling Motors, Drill Reamers and Stabilizers, Drill Collars, Drill Jars, Drill Swivels, Mechanical Thrusters), by Application (Onshore, Offshore)), and Regional Forecasts 202
Description
Global Boring Tools Market Size Study, by Type (Drill Bits, Drilling Tubulars, Drilling Motors, Drill Reamers and Stabilizers, Drill Collars, Drill Jars, Drill Swivels, Mechanical Thrusters), by Application (Onshore, Offshore)), and Regional Forecasts 2022-2032
The Global Boring Tools Market size was valued at approximately USD 3.9 billion in 2023 and is projected to exhibiting a compound annual growth rate (CAGR) of 5.10% during the forecast period from 2024 to 2032. The boring process, which involves expanding a previously drilled hole using a single-point cutting tool or a boring head with multiple tools, is essential for creating tapered holes and fine-tuning diameters. This method, often used after drilling, is crucial for achieving the desired diameter and precision in various applications. The market for Boring Tools is anticipated to grow due to increased research and development efforts, rising rig counts, and the expansion of unconventional field improvement initiatives.
Although offshore applications see less interest compared to inland applications, the high cost of drilling tools for offshore use is expected to limit market growth. However, the market is expected to rebound due to rising exploration and development activities, increasing rig counts, and the growth of unconventional field development activities worldwide. Despite these positive factors, the high cost of drilling equipment for offshore applications and the lack of investment in the offshore sector compared to the onshore sector may hinder market growth in the coming years. The demand for metal Boring Tools is driven by the expanding end-use industries, particularly the automotive industry, and the increased production of light vehicles. These factors are expected to have a significant impact on the market's growth.
The key regions considered for the global Boring Tools Market study include Asia Pacific, North America, Europe, Latin America, and Middle East and Africa. The Asia-Pacific (APAC) region is the leading region in the Boring Tools Market. This leadership is driven by the region's robust industrial base and rapid economic growth, particularly in countries like China, Japan, and India. These nations have significant manufacturing sectors that require high-precision machining tools, including boring tools, to produce automotive components, machinery, and other industrial products. Additionally, North America is projected to poised at a fastest growth due to substantial investments in infrastructure development and construction activities, further fueling the demand for boring tools. The presence of numerous manufacturing facilities and the availability of skilled labor at competitive costs also contribute to the market's growth in this region. Moreover, the increasing adoption of advanced manufacturing technologies and the strong focus on improving production efficiency and quality in the North America region bolster the demand for high-performance boring tools
Major market players included in this report are:
Big Daishowa
Cogsdill-Nuneaton Ltd
Kennametal Inc
Allied Machine & Engineering Corp
Mitsubishi Materials Corp
Nachi-Fujikoshi Corp
KOMET Deutschland
OSG Corp
Sandvik AB
Advanced Carbide Tool Company Inc.
AMAMCO Tool
Asahi Diamond Industrial Co., Ltd
Floyd Automatic Tooling Ltd
CeramTec
Kennametal Inc
The detailed segments and sub-segment of the market are explained below:
By Type:
Drill Bits
Drilling Tubulars
Drilling Motors
Drill Reamers and Stabilizers
Drill Collars
Drill Jars
Drill Swivels
Mechanical Thrusters
By Application:
Onshore
Offshore
By Region:
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year – 2022
Base year – 2023
Forecast period – 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.
Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.
Table of Contents
200 Pages
- Chapter 1. Global Boring Tools Market Executive Summary
- 1.1. Global Boring Tools Market Size & Forecast (2022- 2032)
- 1.2. Regional Summary
- 1.3. Segmental Summary
- 1.3.1. By Type
- 1.3.2. By Application
- 1.4. Key Trends
- 1.5. Recession Impact
- 1.6. Analyst Recommendation & Conclusion
- Chapter 2. Global Boring Tools Market Definition and Research Assumptions
- 2.1. Research Objective
- 2.2. Market Definition
- 2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
- 2.3.3.1. Availability
- 2.3.3.2. Infrastructure
- 2.3.3.3. Regulatory Environment
- 2.3.3.4. Market Competition
- 2.3.3.5. Economic Viability (Consumer’s Perspective)
- 2.3.4. Demand Side Analysis
- 2.3.4.1. Regulatory frameworks
- 2.3.4.2. Technological Advancements
- 2.3.4.3. Environmental Considerations
- 2.3.4.4. Consumer Awareness & Acceptance
- 2.4. Estimation Methodology
- 2.5. Years Considered for the Study
- 2.6. Currency Conversion Rates
- Chapter 3. Global Boring Tools Market Dynamics
- 3.1. Market Drivers
- 3.1.1. Increased use of boring tools based on CNC
- 3.1.2. Growth in the automotive industry
- 3.1.3. Growing production of light vehicles
- 3.2. Market Challenges
- 3.2.1. Raw material price fluctuations
- 3.2.2. Lack of knowledge and technological expertise in underdeveloped economies
- 3.3. Market Opportunities
- 3.3.1. Demand for high-quality goods has increased
- 3.3.2. New product launches and R&D among key players
- Chapter 4. Global Boring Tools Market Industry Analysis
- 4.1. Porter’s 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter’s 5 Force Model
- 4.1.7. Porter’s 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top investment opportunity
- 4.4. Top winning strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
- Chapter 5. Global Boring Tools Market Size & Forecasts by Type 2022-2032
- 5.1. Segment Dashboard
- 5.2. Global Boring Tools Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Drill Bits
- 5.2.2 Drilling Tubulars
- 5.2.3 Drilling Motors
- 5.2.4. Drill Reamers and Stabilizers
- 5.3.5. Drill Collars
- 5.2.6. Drill Jars
- 5.2.7. Drill Swivels
- 5.2.8. Mechanical Thrusters
- Chapter 6. Global Boring Tools Market Size & Forecasts by Application 2022-2032
- 6.1. Segment Dashboard
- 6.2. Global Boring Tools Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Onshore
- 6.2.2. Offshore
- Chapter 7. Global Boring Tools Market Size & Forecasts by Region 2022-2032
- 7.1. North America Boring Tools Market
- 7.1.1. U.S. Boring Tools Market
- 7.1.1.1. Type breakdown size & forecasts, 2022-2032
- 7.1.1.2. Application breakdown size & forecasts, 2022-2032
- 7.1.2. Canada Boring Tools Market
- 7.1.3. Mexico Boring Tools Market
- 7.2. Europe Boring Tools Market
- 7.2.1. U.K. Boring Tools Market
- 7.2.2. Germany Boring Tools Market
- 7.2.3. France Boring Tools Market
- 7.2.4. Italy Boring Tools Market
- 7.2.5. Spain Boring Tools Market
- 7.2.6. Rest of Europe Boring Tools Market
- 7.3. Asia-Pacific Boring Tools Market
- 7.3.1. China Boring Tools Market
- 7.3.2. India Boring Tools Market
- 7.3.3. Japan Boring Tools Market
- 7.3.4. Australia and New Zealand Boring Tools Market
- 7.3.5. Rest of Asia-Pacific Boring Tools Market
- 7.4. Rest of the World Boring Tools Market
- 7.4.1. South America Boring Tools Market
- 7.4.2. Middle East Boring Tools Market
- 7.4.3. Africa Boring Tools Market
- Chapter 8. Competitive Intelligence
- 8.1. Key Company SWOT Analysis
- 8.1.1. Company 1
- 8.1.2. Company 2
- 8.1.3. Company 3
- 8.2. Top Market Strategies
- 8.3. Company Profiles
- 8.3.1. Big Daishowa
- 8.3.2. Cogsdill-Nuneaton Ltd
- 8.3.3. Kennametal Inc
- 8.3.4. Allied Machine & Engineering Corp
- 8.3.5. Mitsubishi Materials Corp
- 8.3.6. Nachi-Fujikoshi Corp
- 8.3.7. KOMET Deutschland
- 8.3.8. OSG Corp
- 8.3.9. Sandvik AB
- 8.3.10. Advanced Carbide Tool Company Inc.
- 8.3.11. AMAMCO Tool
- 8.3.12. Asahi Diamond Industrial Co., Ltd
- 8.3.13. Floyd Automatic Tooling Ltd
- 8.3.14. CeramTec
- 8.3.15. Kennametal Inc
- Chapter 9. Research Process
- 9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
- 9.2. Research Attributes
- List of Tables
- TABLE 1. Global Boring Tools market, report scope
- TABLE 2. Global Boring Tools market estimates & forecasts by Region 2022-2032 (USD Billion)
- TABLE 3. Global Boring Tools market estimates & forecasts by Type 2022-2032 (USD Billion)
- TABLE 4. Global Boring Tools market estimates & forecasts by Application 2022-2032 (USD Billion)
- TABLE 5. Global Boring Tools market by segment, estimates & forecasts, 2022-2032 (USD Billion)
- TABLE 6. Global Boring Tools market by region, estimates & forecasts, 2022-2032 (USD Billion)
- TABLE 7. Global Boring Tools market by segment, estimates & forecasts, 2022-2032 (USD Billion)
- TABLE 8. Global Boring Tools market by region, estimates & forecasts, 2022-2032 (USD Billion)
- TABLE 9. Global Boring Tools market by segment, estimates & forecasts, 2022-2032 (USD Billion)
- TABLE 10. Global Boring Tools market by region, estimates & forecasts, 2022-2032 (USD Billion)
- TABLE 11. Global Boring Tools market by segment, estimates & forecasts, 2022-2032 (USD Billion)
- TABLE 12. Global Boring Tools market by region, estimates & forecasts, 2022-2032 (USD Billion)
- TABLE 13. Global Boring Tools market by segment, estimates & forecasts, 2022-2032 (USD Billion)
- TABLE 14. Global Boring Tools market by region, estimates & forecasts, 2022-2032 (USD Billion)
- TABLE 15. U.S. Boring Tools market estimates & forecasts, 2022-2032 (USD Billion)
- TABLE 16. U.S. Boring Tools market estimates & forecasts by segment 2022-2032 (USD Billion)
- TABLE 17. U.S. Boring Tools market estimates & forecasts by segment 2022-2032 (USD Billion)
- TABLE 18. Canada Boring Tools market estimates & forecasts, 2022-2032 (USD Billion)
- TABLE 19. Canada Boring Tools market estimates & forecasts by segment 2022-2032 (USD Billion)
- TABLE 20. Canada Boring Tools market estimates & forecasts by segment 2022-2032 (USD Billion)
- This list is not complete, final report does contain more than 100 tables. The list may be updated in the final deliverable.
- List of Figures
- FIGURE 1. Global Boring Tools market, research methodology
- FIGURE 2. Global Boring Tools market, market estimation techniques
- FIGURE 3. Global market size estimates & forecast methods.
- FIGURE 4. Global Boring Tools market, key trends 2023
- FIGURE 5. Global Boring Tools market, growth prospects 2022-2032
- FIGURE 6. Global Boring Tools market, porters 5 force model
- FIGURE 7. Global Boring Tools market, PESTEL analysis
- FIGURE 8. Global Boring Tools market, value chain analysis
- FIGURE 9. Global Boring Tools market by segment, 2022 & 2032 (USD Billion)
- FIGURE 10. Global Boring Tools market by segment, 2022 & 2032 (USD Billion)
- FIGURE 11. Global Boring Tools market by segment, 2022 & 2032 (USD Billion)
- FIGURE 12. Global Boring Tools market by segment, 2022 & 2032 (USD Billion)
- FIGURE 13. Global Boring Tools market by segment, 2022 & 2032 (USD Billion)
- FIGURE 14. Global Boring Tools market, regional snapshot 2022 & 2032
- FIGURE 15. North America Boring Tools market 2022 & 2032 (USD Billion)
- FIGURE 16. Europe Boring Tools market 2022 & 2032 (USD Billion)
- FIGURE 17. Asia-Pacific Boring Tools market 2022 & 2032 (USD Billion)
- FIGURE 18. Latin America Boring Tools market 2022 & 2032 (USD Billion)
- FIGURE 19. Middle East & Africa Boring Tools market 2022 & 2032 (USD Billion)
- FIGURE 20. Global Boring Tools market, company market share analysis (2023)
- This list is not complete, final report does contain more than 50 figures. The list may be updated in the final deliverable.
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