Machine-Tool For Drilling Market

The article discusses the current and future trends in the global machine-tool market for drilling, boring, and milling metal. It projects a steady increase in consumption and production over the next eight years, with a focus on key countries such as China, India, and the UK. Analysis of imports and exports highlights notable growth rates and fluctuations in the market. Price trends for imported and exported machine-tools are also discussed, showing variations by product type and country of origin. Overall, the article provides a comprehensive overview of the machine-tool market dynamics from 2012 to 2022, with insights into potential developments until 2030.

Market Forecast

Driven by increasing demand for machine-tools for drilling, boring or milling metal worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.4% for the period from 2022 to 2030, which is projected to bring the market volume to 5.1M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.8% for the period from 2022 to 2030, which is projected to bring the market value to $12.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Machine-Tools For Drilling, Boring Or Milling Metal

After two years of decline, consumption of machine-tools for drilling, boring or milling metal increased by 14% to 4.2M units in 2022. Over the period under review, the total consumption indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, global consumption attained the peak volume at 4.7M units in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

The global machine-tool for drilling market size stood at $9.1B in 2022, with an increase of 6.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $12.6B. From 2020 to 2022, the growth of the global market failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (640K units), India (362K units) and the UK (339K units), together accounting for 32% of global consumption. The United States, Japan, Spain, Russia, Canada, Taiwan (Chinese), Ethiopia, Pakistan, Brazil and South Korea lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Taiwan (Chinese) (with a CAGR of +30.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Russia ($1.6B) led the market, alone. The second position in the ranking was taken by South Korea ($529M). It was followed by India.

In Russia, the machine-tool for drilling market expanded at an average annual rate of +4.5% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: South Korea (+3.2% per year) and India (+6.3% per year).

The countries with the highest levels of machine-tool for drilling per capita consumption in 2022 were Taiwan (Chinese) (5.7 units per 1000 persons), the UK (5 units per 1000 persons) and Canada (3.5 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Taiwan (Chinese) (with a CAGR of +29.7%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Machine-Tools For Drilling, Boring Or Milling Metal

In 2022, the amount of machine-tools for drilling, boring or milling metal produced worldwide expanded markedly to 4M units, growing by 10% compared with 2021. Overall, the total production indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -7.5% against 2020 indices. The growth pace was the most rapid in 2018 when the production volume increased by 24%. Over the period under review, global production attained the peak volume at 4.4M units in 2020; however, from 2021 to 2022, production failed to regain momentum.

In value terms, machine-tool for drilling production fell slightly to $6.3B in 2022 estimated in export price. Over the period under review, production, however, saw a slight curtailment. The pace of growth appeared the most rapid in 2015 with an increase of 13% against the previous year. As a result, production attained the peak level of $7.7B. From 2016 to 2022, global production growth failed to regain momentum.

Production By Country

China (1.9M units) remains the largest machine-tool for drilling producing country worldwide, accounting for 46% of total volume. Moreover, machine-tool for drilling production in China exceeded the figures recorded by the second-largest producer, India (353K units), fivefold. The UK (302K units) ranked third in terms of total production with a 7.5% share.

In China, machine-tool for drilling production expanded at an average annual rate of +3.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+14.2% per year) and the UK (+93.9% per year).

Imports

World Imports of Machine-Tools For Drilling, Boring Or Milling Metal

In 2022, approx. 1.9M units of machine-tools for drilling, boring or milling metal were imported worldwide; with a decrease of -8.3% on the previous year. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by 36% against the previous year. As a result, imports attained the peak of 2.7M units. From 2019 to 2022, the growth of global imports remained at a somewhat lower figure.

In value terms, machine-tool for drilling imports fell modestly to $2.4B in 2022. Overall, imports continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2018 when imports increased by 19%. Over the period under review, global imports hit record highs at $4.6B in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports By Country

The United States (185K units), Spain (172K units), Canada (138K units), the UK (106K units), the Netherlands (84K units), Brazil (77K units), Russia (59K units), Denmark (57K units), Singapore (55K units), France (54K units), Vietnam (46K units) and Egypt (43K units) represented roughly 56% of total imports in 2022. Germany (39K units) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +25.9%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($292M), Germany ($185M) and Vietnam ($93M) constituted the countries with the highest levels of imports in 2022, together comprising 24% of global imports. France, Canada, the UK, the Netherlands, Russia, Spain, Brazil, Denmark, Singapore and Egypt lagged somewhat behind, together comprising a further 19%.

Denmark, with a CAGR of +9.0%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

Non-numerically controlled drilling machines for working metal was the main imported product with an import of about 1.4M units, which amounted to 70% of total imports. Machine-tools; for milling by removing metal, not knee-type, other than numerically controlled (307K units) took a 16% share (based on physical terms) of total imports, which put it in second place, followed by way-type unit heads for working metal (6.6%). The following types - machine-tools; for boring-milling by removing metal, other than numerically controlled (43K units) and machine-tools; for milling by removing metal, (not knee-type), numerically controlled (37K units) - each resulted at a 4.1% share of total imports.

Non-numerically controlled drilling machines for working metal experienced a relatively flat trend pattern with regard to volume of imports. At the same time, machine-tools; for milling by removing metal, not knee-type, other than numerically controlled (+4.7%), machine-tools; for milling by removing metal, (not knee-type), numerically controlled (+2.8%) and machine-tools; for boring-milling by removing metal, other than numerically controlled (+2.8%) displayed positive paces of growth. Moreover, machine-tools; for milling by removing metal, not knee-type, other than numerically controlled emerged as the fastest-growing type imported in the world, with a CAGR of +4.7% from 2012-2022. By contrast, way-type unit heads for working metal (-5.6%) illustrated a downward trend over the same period. Machine-tools; for milling by removing metal, not knee-type, other than numerically controlled (+5.8 p.p.) significantly strengthened its position in terms of the global imports, while way-type unit heads for working metal saw its share reduced by -5.2% from 2012 to 2022, respectively. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, machine-tools; for milling by removing metal, (not knee-type), numerically controlled ($781M), machine-tools; for boring-milling by removing metal, numerically controlled ($436M) and non-numerically controlled drilling machines for working metal ($351M) were the products with the highest levels of imports in 2022, together accounting for 67% of global imports. Machine-tools; for milling by removing metal, not knee-type, other than numerically controlled, numerically controlled drilling machines for working metal, machine-tools; for boring-milling by removing metal, other than numerically controlled, machine-tools; for milling by removing metal, knee-type, other than numerically controlled, way-type unit heads for working metal, numerically controlled knee-type milling machines for working metal and machine-tools; for boring by removing metal, n.e.s. in item no. 8459.31 and 8459.39 lagged somewhat behind, together accounting for a further 33%.

Among the main imported products, machine-tools; for milling by removing metal, knee-type, other than numerically controlled, with a CAGR of -3.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other products experienced a decline in the imports figures.

Import Prices By Type

In 2022, the average machine-tool for drilling import price amounted to $1,217 per unit, surging by 5.7% against the previous year. Overall, the import price, however, saw a deep setback. The pace of growth appeared the most rapid in 2013 an increase of 6.5%. As a result, import price reached the peak level of $2,538 per unit. From 2014 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was machine-tools; for boring-milling by removing metal, numerically controlled ($91,092 per unit), while the price for non-numerically controlled drilling machines for working metal ($259 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by machine-tools; for boring by removing metal, n.e.s. in item no. 8459.31 and 8459.39 (+4.3%), while the other products experienced mixed trends in the import price figures.

Import Prices By Country

In 2022, the average machine-tool for drilling import price amounted to $1,217 per unit, picking up by 5.7% against the previous year. Overall, the import price, however, recorded a drastic downturn. The growth pace was the most rapid in 2013 an increase of 6.5%. As a result, import price reached the peak level of $2,538 per unit. From 2014 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($4,719 per unit), while Egypt ($146 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+2.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Machine-Tools For Drilling, Boring Or Milling Metal

In 2022, the amount of machine-tools for drilling, boring or milling metal exported worldwide shrank to 1.8M units, falling by -14.8% compared with the previous year. In general, total exports indicated a mild expansion from 2012 to 2022: its volume increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -18.1% against 2020 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 31% against the previous year. Over the period under review, the global exports hit record highs at 2.2M units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, machine-tool for drilling exports dropped to $2.4B in 2022. Over the period under review, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 19% against the previous year. Over the period under review, the global exports hit record highs at $4.7B in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports By Country

China prevails in exports structure, amounting to 1.2M units, which was approx. 69% of total exports in 2022. Taiwan (Chinese) (73K units), the UK (69K units), Germany (67K units), Denmark (62K units), the United States (34K units) and the Netherlands (27K units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to machine-tool for drilling exports from China stood at +2.9%. At the same time, Denmark (+39.9%), the UK (+4.5%) and Germany (+2.5%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing exporter exported in the world, with a CAGR of +39.9% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, the Netherlands (-3.1%) and the United States (-6.9%) illustrated a downward trend over the same period. China (+10 p.p.) and Denmark (+3.3 p.p.) significantly strengthened its position in terms of the global exports, while the United States saw its share reduced by -2.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($505M), China ($395M) and Taiwan (Chinese) ($192M) appeared to be the countries with the highest levels of exports in 2022, together comprising 45% of global exports.

Among the main exporting countries, China, with a CAGR of +4.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Non-numerically controlled drilling machines for working metal prevails in exports structure, amounting to 1.5M units, which was approx. 82% of total exports in 2022. It was distantly followed by machine-tools; for milling by removing metal, not knee-type, other than numerically controlled (167K units) and way-type unit heads for working metal (92K units), together mixing up a 14% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to non-numerically controlled drilling machines for working metal exports of stood at +1.5%. At the same time, way-type unit heads for working metal (+6.7%) and machine-tools; for milling by removing metal, not knee-type, other than numerically controlled (+2.6%) displayed positive paces of growth. Moreover, way-type unit heads for working metal emerged as the fastest-growing type exported in the world, with a CAGR of +6.7% from 2012-2022. From 2012 to 2022, the share of way-type unit heads for working metal increased by +2 percentage points, while the shares of the other products remained relatively stable throughout the analyzed period.

In value terms, the largest types of exported machine-tools for drilling, boring or milling metal were machine-tools; for milling by removing metal, (not knee-type), numerically controlled ($883M), machine-tools; for boring-milling by removing metal, numerically controlled ($463M) and non-numerically controlled drilling machines for working metal ($362M), together accounting for 70% of global exports. Machine-tools; for milling by removing metal, not knee-type, other than numerically controlled, numerically controlled drilling machines for working metal, machine-tools; for milling by removing metal, knee-type, other than numerically controlled, machine-tools; for boring-milling by removing metal, other than numerically controlled, way-type unit heads for working metal, numerically controlled knee-type milling machines for working metal and machine-tools; for boring by removing metal, n.e.s. in item no. 8459.31 and 8459.39 lagged somewhat behind, together accounting for a further 30%.

Machine-tools; for milling by removing metal, not knee-type, other than numerically controlled, with a CAGR of -1.5%, saw the highest rates of growth with regard to the value of exports, in terms of the main exported products over the period under review, while shipments for the other products experienced a decline in the exports figures.

Export Prices By Type

In 2022, the average machine-tool for drilling export price amounted to $1,381 per unit, with an increase of 6% against the previous year. In general, the export price, however, showed a deep reduction. The growth pace was the most rapid in 2021 an increase of 24%. The global export price peaked at $3,043 per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by the product type; the product with the highest price was machine-tools; for boring-milling by removing metal, numerically controlled ($132,095 per unit), while the average price for exports of non-numerically controlled drilling machines for working metal ($244 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by machine-tools; for milling by removing metal, knee-type, other than numerically controlled (-2.1%), while the other products experienced a decline in the export price figures.

Export Prices By Country

The average machine-tool for drilling export price stood at $1,381 per unit in 2022, surging by 6% against the previous year. Overall, the export price, however, continues to indicate a deep slump. The most prominent rate of growth was recorded in 2021 an increase of 24%. Over the period under review, the average export prices hit record highs at $3,043 per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($7,517 per unit), while Denmark ($190 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.1%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform