Broaching Machines Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031

Description

The broaching machines market is projected to experience significant growth in the coming years, driven by increasing demand from key industries such as automotive, aerospace, and industrial machinery.The broaching machines market is set for substantial growth, projected to reach $939.75 million in 2024 and $1,271 million by 2031, reflecting a CAGR of 4.40%. Technological advancements and the push for automation in manufacturing processes are also key contributors to this growth. The demand for broaching machines is expected to surge as these sectors continue to expand globally, creating new opportunities for market participants.

Key Drivers of Broaching Machines Market Growth

Rising Demand from Automotive and Industrial Machinery Sectors

The growing automotive and industrial machinery sectors are major drivers of the broaching machines market. Automotive manufacturers, in particular, rely on broaching machines for various production processes, including transmission shafts, gears, and other vital components. This demand is set to increase further as automakers continue to expand their operations and implement technological advancements in manufacturing.

Technological Advancements and Automation

The integration of advanced technology, such as Computer-Aided Manufacturing (CAM) and CNC systems, is transforming the broaching machines market. Automation in manufacturing processes has increased efficiency and precision, driving demand for newer, more advanced broaching machines. These technological innovations have allowed manufacturers to optimize production, reduce operational costs, and meet the growing need for high-quality metal products.

Factors Restraining Market Growth

Prevalence of Secondhand Machines

One of the major challenges facing the broaching machines market is the widespread use of secondhand machines, particularly among small and medium-sized industries. These businesses often opt for used machines to reduce their initial capital investment, which impacts the sales of new broaching machines. The presence of numerous sellers and suppliers of used equipment further hampers market growth, especially in cost-sensitive sectors.

High Cost of New Machines

Broaching machines are expensive, particularly those designed for mass production. These machines require specialized tools for each process, making them less suitable for batch-wise operations. The high cost of new machines, combined with the risks involved in handling broaching equipment, presents a barrier to market growth, especially for small-scale industries.

Product Innovations and Technological Advancements

Growth of CNC-Incorporated Machine Tools

The demand for CNC-incorporated broaching machines is expected to increase significantly. CNC technology offers precise control over the manufacturing process, improving efficiency and reducing operational costs. These machines provide numerous advantages, including energy savings and high precision in metal cutting, key formation, and gear-making operations. The use of CNC machines is revolutionizing the metal fabrication industry and is anticipated to create lucrative opportunities for the broaching machines market.

Integration of Advanced CAM Systems

Advanced CAM systems have been integrated into broaching machines, further automating the manufacturing process. This technology facilitates process planning and execution, enabling manufacturers to streamline operations and improve productivity. With the rise in demand for superior-quality broaching machines, competitors are increasingly adopting automation, helping to drive market growth.

Application and End-User Insights

Automotive Industry Leading the Way

The automotive industry is one of the largest consumers of broaching machines, using them in various production processes. Broaching is essential for manufacturing transmission shafts, gears, steering wheel hubs, and steering yokes. The increasing adoption of electric and hybrid vehicles has driven demand for quieter gears, further boosting the need for broaching machines. Additionally, innovations such as electromechanical broach machines are enhancing the efficiency of internal gear cutting, making broaching a preferred method in the automotive sector.

Expanding Applications in Aerospace and Defense

Broaching machines also play a vital role in the aerospace and defense sectors. These industries require high-precision equipment for manufacturing critical components, and broaching machines offer the accuracy needed for these applications. The rise in defense expenditure globally and the increasing focus on military modernization are expected to drive further demand for broaching machines in these sectors.

Regional Market Insights

Growth in the United States

The broaching machines market in the United States is expected to experience steady growth, driven by the demand for fabricated metal products and advancements in manufacturing techniques. The U.S. machine tool cutting industry, which includes broaching machines, is a significant contributor to metal fabrication. With the adoption of new technologies and features, manufacturers in the U.S. are attracting customers and expanding their presence in emerging markets, further boosting market growth.

Broaching Machines Market in Europe

Europe has emerged as a significant player in the broaching machines market, particularly in the automotive and metal fabrication industries. Broaching machines are widely used in these industries due to their reliability and precision. In addition, broaching machines are gaining popularity in the oil and gas and agricultural sectors in Europe, where they help reduce downtime and improve productivity. These trends are expected to contribute to the market's continued expansion in the region.

Market Expansion in China

China's manufacturing sector is a key driver of the broaching machines market, with the automotive industry being one of the largest consumers of broaching equipment. As the demand for vehicles continues to grow, so does the need for broaching machines. Despite rising labor costs and stricter regulations, China remains a major hub for automotive production. Broaching machine manufacturers are expected to align their distribution strategies to capitalize on emerging opportunities in the ASEAN region, further fueling market growth.

Challenges and Opportunities in the Broaching Machines Market

Challenges: High Costs and Limited Applications

While broaching machines are ideal for mass production, their high cost remains a challenge for many industries. Additionally, broaching machines may not be suitable for surfaces with obstructions, limiting their application in batch operations. These challenges could restrict market growth, particularly among smaller businesses and industries with limited budgets.

Opportunities: Expanding Use of CNC Technology

The increasing adoption of CNC technology presents significant opportunities for the broaching machines market. CNC broaching machines offer enhanced precision, efficiency, and cost savings, making them an attractive option for manufacturers. The growing demand for high-quality metal products in industries such as automotive, aerospace, and defense is expected to create further opportunities for CNC-incorporated broaching machines.

Key Market Players and Competitive Analysis

The broaching machines market is highly competitive, with prominent players focusing on innovation, partnerships, and acquisitions to expand their market presence. Major players in the market include:

Mitsubishi Materials Corporation
Accu-Cut Diamond Tool Co
American Broach & Machine Company
Arthur Klink GmbH
Forst Technologie GmbH & Co. KG
General Broach Company
Hoffmann Rumtechnik GmbH
Nachi-Fujikoshi Corp.
Pioneer Broach Company
The Ohio Broach & Machine Co.

Key Segments Covered in the Broaching Machines Industry Report

By Product Type

Vertical Broaching Machine
Horizontal Broaching Machine
Others

By End User

Automotive
Fabrication and Industrial Machinery Manufacturing
Aerospace & Defense
Oil and Gas
Others

By Region

Asia-Pacific
North America
Europe
Latin America
Middle East and Africa

1. Executive Summary

1.1. Global Broaching Machines Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value and Volume, 2024
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Production Output and Trade Statistics, 2019 - 2023

3.1. Global Broaching Machines Production Output, by Region, Value (US$ Mn ) and Volume (Units), 2019 - 2023
- 3.1.1. North America
- 3.1.2. Europe
- 3.1.3. Asia Pacific
- 3.1.4. Latin America
- 3.1.5. Middle East and Africa

4. Price Analysis, 2019 - 2023

4.1. Global Average Price Analysis, by Product Type, US$ Per Unit, 2019 - 2023
4.2. Prominent Factor Affecting Broaching Machines Prices
4.3. Global Average Price Analysis, by Region, US$ Per Unit

5. Global Broaching Machines Market Outlook, 2019 - 2031

5.1. Global Broaching Machines Market Outlook, by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Vertical Broaching Machine
  - 5.1.1.2. Horizontal Broaching Machine
  - 5.1.1.3. Others
5.2. Global Broaching Machines Market Outlook, by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. Automotive
  - 5.2.1.2. Fabrication and Industrial Machinery Manufacturing
  - 5.2.1.3. Aerospace & Defense
  - 5.2.1.4. Oil and Gas
  - 5.2.1.5. Others
5.3. Global Broaching Machines Market Outlook, by Region, Value (US$ Mn ) and Volume (Units), 2019 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. North America
  - 5.3.1.2. Europe
  - 5.3.1.3. Asia Pacific
  - 5.3.1.4. Latin America
  - 5.3.1.5. Middle East & Africa

6. North America Broaching Machines Market Outlook, 2019 - 2031

6.1. North America Broaching Machines Market Outlook, by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. Vertical Broaching Machine
  - 6.1.1.2. Horizontal Broaching Machine
  - 6.1.1.3. Others
6.2. North America Broaching Machines Market Outlook, by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. Automotive
  - 6.2.1.2. Fabrication and Industrial Machinery Manufacturing
  - 6.2.1.3. Aerospace & Defense
  - 6.2.1.4. Oil and Gas
  - 6.2.1.5. Others
- 6.2.2. BPS Analysis/Market Attractiveness Analysis
6.3. North America Broaching Machines Market Outlook, by Country, Value (US$ Mn ) and Volume (Units), 2019 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. U.S. Broaching Machines Market by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 6.3.1.2. U.S. Broaching Machines Market by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 6.3.1.3. Canada Broaching Machines Market by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 6.3.1.4. Canada Broaching Machines Market by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
- 6.3.2. BPS Analysis/Market Attractiveness Analysis

7. Europe Broaching Machines Market Outlook, 2019 - 2031

7.1. Europe Broaching Machines Market Outlook, by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Vertical Broaching Machine
  - 7.1.1.2. Horizontal Broaching Machine
  - 7.1.1.3. Others
7.2. Europe Broaching Machines Market Outlook, by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
- 7.2.1. Key Highlights
  - 7.2.1.1. Automotive
  - 7.2.1.2. Fabrication and Industrial Machinery Manufacturing
  - 7.2.1.3. Aerospace & Defense
  - 7.2.1.4. Oil and Gas
  - 7.2.1.5. Others
- 7.2.2. BPS Analysis/Market Attractiveness Analysis
7.3. Europe Broaching Machines Market Outlook, by Country, Value (US$ Mn ) and Volume (Units), 2019 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. Germany Broaching Machines Market by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 7.3.1.2. Germany Broaching Machines Market by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 7.3.1.3. U.K. Broaching Machines Market by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 7.3.1.4. U.K. Broaching Machines Market by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 7.3.1.5. France Broaching Machines Market by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 7.3.1.6. France Broaching Machines Market by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 7.3.1.7. Italy Broaching Machines Market by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 7.3.1.8. Italy Broaching Machines Market by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 7.3.1.9. Turkey Broaching Machines Market by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 7.3.1.10. Turkey Broaching Machines Market by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 7.3.1.11. Russia Broaching Machines Market by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 7.3.1.12. Russia Broaching Machines Market by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 7.3.1.13. Rest of Europe Broaching Machines Market by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 7.3.1.14. Rest of Europe Broaching Machines Market by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
- 7.3.2. BPS Analysis/Market Attractiveness Analysis

8. Asia Pacific Broaching Machines Market Outlook, 2019 - 2031

8.1. Asia Pacific Broaching Machines Market Outlook, by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Vertical Broaching Machine
  - 8.1.1.2. Horizontal Broaching Machine
  - 8.1.1.3. Others
8.2. Asia Pacific Broaching Machines Market Outlook, by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. Automotive
  - 8.2.1.2. Fabrication and Industrial Machinery Manufacturing
  - 8.2.1.3. Aerospace & Defense
  - 8.2.1.4. Oil and Gas
  - 8.2.1.5. Others
- 8.2.2. BPS Analysis/Market Attractiveness Analysis
8.3. Asia Pacific Broaching Machines Market Outlook, by Country, Value (US$ Mn ) and Volume (Units), 2019 - 2031
- 8.3.1. Key Highlights
  - 8.3.1.1. China Broaching Machines Market by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 8.3.1.2. China Broaching Machines Market by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 8.3.1.3. Japan Broaching Machines Market by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 8.3.1.4. Japan Broaching Machines Market by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 8.3.1.5. South Korea Broaching Machines Market by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 8.3.1.6. South Korea Broaching Machines Market by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 8.3.1.7. India Broaching Machines Market by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 8.3.1.8. India Broaching Machines Market by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 8.3.1.9. Southeast Asia Broaching Machines Market by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 8.3.1.10. Southeast Asia Broaching Machines Market by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 8.3.1.11. Rest of Asia Pacific Broaching Machines Market by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 8.3.1.12. Rest of Asia Pacific Broaching Machines Market by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis

9. Latin America Broaching Machines Market Outlook, 2019 - 2031

9.1. Latin America Broaching Machines Market Outlook, by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
- 9.1.1. Key Highlights
  - 9.1.1.1. Vertical Broaching Machine
  - 9.1.1.2. Horizontal Broaching Machine
  - 9.1.1.3. Others
9.2. Latin America Broaching Machines Market Outlook, by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
- 9.2.1. Key Highlights
  - 9.2.1.1. Automotive
  - 9.2.1.2. Fabrication and Industrial Machinery Manufacturing
  - 9.2.1.3. Aerospace & Defense
  - 9.2.1.4. Oil and Gas
  - 9.2.1.5. Others
- 9.2.2. BPS Analysis/Market Attractiveness Analysis
9.3. Latin America Broaching Machines Market Outlook, by Country, Value (US$ Mn ) and Volume (Units), 2019 - 2031
- 9.3.1. Key Highlights
  - 9.3.1.1. Brazil Broaching Machines Market by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 9.3.1.2. Brazil Broaching Machines Market by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 9.3.1.3. Mexico Broaching Machines Market by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 9.3.1.4. Mexico Broaching Machines Market by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 9.3.1.5. Argentina Broaching Machines Market by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 9.3.1.6. Argentina Broaching Machines Market by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 9.3.1.7. Rest of Latin America Broaching Machines Market by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 9.3.1.8. Rest of Latin America Broaching Machines Market by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
- 9.3.2. BPS Analysis/Market Attractiveness Analysis

10. Middle East & Africa Broaching Machines Market Outlook, 2019 - 2031

10.1. Middle East & Africa Broaching Machines Market Outlook, by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
- 10.1.1. Key Highlights
  - 10.1.1.1. Vertical Broaching Machine
  - 10.1.1.2. Horizontal Broaching Machine
  - 10.1.1.3. Others
10.2. Middle East & Africa Broaching Machines Market Outlook, by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
- 10.2.1. Key Highlights
  - 10.2.1.1. Automotive
  - 10.2.1.2. Fabrication and Industrial Machinery Manufacturing
  - 10.2.1.3. Aerospace & Defense
  - 10.2.1.4. Oil and Gas
  - 10.2.1.5. Others
- 10.2.2. BPS Analysis/Market Attractiveness Analysis
10.3. Middle East & Africa Broaching Machines Market Outlook, by Country, Value (US$ Mn ) and Volume (Units), 2019 - 2031
- 10.3.1. Key Highlights
  - 10.3.1.1. GCC Broaching Machines Market by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 10.3.1.2. GCC Broaching Machines Market by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 10.3.1.3. South Africa Broaching Machines Market by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 10.3.1.4. South Africa Broaching Machines Market by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 10.3.1.5. Egypt Broaching Machines Market by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 10.3.1.6. Egypt Broaching Machines Market by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 10.3.1.7. Nigeria Broaching Machines Market by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 10.3.1.8. Nigeria Broaching Machines Market by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 10.3.1.9. Rest of Middle East & Africa Broaching Machines Market by Product Type, Value (US$ Mn ) and Volume (Units), 2019 - 2031
  - 10.3.1.10. Rest of Middle East & Africa Broaching Machines Market by End-user, Value (US$ Mn ) and Volume (Units), 2019 - 2031
- 10.3.2. BPS Analysis/Market Attractiveness Analysis

11. Competitive Landscape

11.1. Company Market Share Analysis, 2024
11.2. Competitive Dashboard
11.3. Company Profiles
- 11.3.1. Mitsubishi Materials Corporation
  - 11.3.1.1. Company Overview
  - 11.3.1.2. Product Portfolio
  - 11.3.1.3. Financial Overview
  - 11.3.1.4. Business Strategies and Development
- 11.3.2. Accu-Cut Diamond Tool Co
  - 11.3.2.1. Company Overview
  - 11.3.2.2. Product Portfolio
  - 11.3.2.3. Financial Overview
  - 11.3.2.4. Business Strategies and Development
- 11.3.3. American Broach & Machine Company
  - 11.3.3.1. Company Overview
  - 11.3.3.2. Product Portfolio
  - 11.3.3.3. Financial Overview
  - 11.3.3.4. Business Strategies and Development
- 11.3.4. Arthur Klink GmbH
  - 11.3.4.1. Company Overview
  - 11.3.4.2. Product Portfolio
  - 11.3.4.3. Financial Overview
  - 11.3.4.4. Business Strategies and Development
- 11.3.5. Forst Technologie GmbH & Co. KG
  - 11.3.5.1. Company Overview
  - 11.3.5.2. Product Portfolio
  - 11.3.5.3. Financial Overview
  - 11.3.5.4. Business Strategies and Development
- 11.3.6. General Broach Company
  - 11.3.6.1. Company Overview
  - 11.3.6.2. Product Portfolio
  - 11.3.6.3. Financial Overview
  - 11.3.6.4. Business Strategies and Development
- 11.3.7. Hoffmann Rumtechnik GmbH
  - 11.3.7.1. Company Overview
  - 11.3.7.2. Product Portfolio
  - 11.3.7.3. Financial Overview
  - 11.3.7.4. Business Strategies and Development
- 11.3.8. Nachi-Fujikoshi Corp.
  - 11.3.8.1. Company Overview
  - 11.3.8.2. Product Portfolio
  - 11.3.8.3. Financial Overview
  - 11.3.8.4. Business Strategies and Development
- 11.3.9. Pioneer Broach Company
  - 11.3.9.1. Company Overview
  - 11.3.9.2. Product Portfolio
  - 11.3.9.3. Financial Overview
  - 11.3.9.4. Business Strategies and Development
- 11.3.10. The Ohio Broach & Machine Co.
  - 11.3.10.1. Company Overview
  - 11.3.10.2. Product Portfolio
  - 11.3.10.3. Financial Overview
  - 11.3.10.4. Business Strategies and Development

12. Appendix

12.1. Research Methodology
12.2. Report Assumptions
12.3. Acronyms and Abbreviations