Broaching Machine Market Size, Share, Opportunities, And Trends By Type (Horizontal Broaching Machine, Vertical Broaching Machine, Continuous Broaching Machine, Others), By Teeth Type (Finished, Semi-Finished), By End-User (Automotive, Manufacturing, Oil & Gas, Aerospace, Others), And By Geography - Forecasts From 2024 To 2029

The broaching machine market is projected to show steady growth during the forecast period. Broaching machines are specialized tools used to cut precise and intricate shapes from materials such as metals, plastics, and wood. It features a variety of teeth configurations and can cut keyways, splines, gears, slots, and other shapes depending on its design. Such machines are primarily used to manufacture machine parts, particularly those that require precise and tightly fitting components, owing to which they find applicability in the automotive, aerospace, manufacturing, and oil & gas sectors. The growing establishment of manufacturing facilities, technological advancements, and booming precise machining solution’s demand are contributing to the broaching machine market growth.

Market Drivers

• Automotive production unit establishment bolsters the broaching machine market growth

The broaching machine is widely used to manufacture automotive components such as transmission gears, engine & steering components, and other critical parts that require high precision. The high demand for vehicles has led to new automotive manufacturing establishments. For instance, in July 2023, Renault Group and Geely Automobile Holdings Limited signed a joint venture agreement, to launch the new company, which will include 17 engine production plants in the United Kingdom. Additionally, in February 2023, the Alabama Governor disclosed that Samkee Corp., a major South Korean automotive supplier, plans to invest $128 million to open its first United States manufacturing plant in Alabama. Moreover, according to the European Commission, the German automotive industry has established over 2,000 production plants globally.

• Technological advancements have contributed to the broaching machine market growth.

Technological advancements have transformed the machining industry by optimizing the overall process and improving precision. Broaching machines have become more versatile and efficient as a result of improvements in cutting technology, visual inspection, and accuracy. This is expected to increase their adoption in various manufacturing facilities such as automotive and aerospace, thereby driving the overall market growth. For instance, in December 2022, Nidec Machine Tool announced the launch of robot cameras for hobbing and broaching machines to aid in automating visual inspections of cutting tools.

• Growing demand for precise machines drives the broaching machine market growth.

Broaching machines are an efficient way to produce complex shapes such as gear teeth, keyways, splines, and defence components with high accuracy and precision, which makes it an ideal solution, especially for automotive and defence component manufacturers. As manufacturing processes become more advanced and complex, the demand for efficient and precise machining solutions increases. Additionally, the rising trend of industrial automation and the integration of smart technologies into manufacturing processes bolstered the demand for broaching machines, which positively accelerated the broaching machine market growth.

Asia Pacific is projected to grow significantly

Asia Pacific is expected to account for a significant share of the broaching machine market due to the industrial growth and establishment of production units in the major regional economies. For instance, in June 2023, Garrett Motion Inc. announced the expansion of its Wuhan plant in Hubei, China, including the company's first high-speed automated manufacturing facility for turbo passenger vehicles. Additionally, in November 2023, Hyundai Motor announced the launch of an EV manufacturing plant in Ulsan, South Korea on a 548,000-meter square site with a capacity to produce 200,000 EVs per year. Moreover, in January 2024, Maruti Suzuki announced the construction of a fourth manufacturing facility in its wholly-owned subsidiary, Suzuki Motor Gujarat Private Limited, with an investment of 32 billion rupees.

Market Restraints

• High tool costs investments will restrain the broaching machine market growth.

Broaching machines require a significant initial investment as well as investments in their costly tools, which can be expensive for new entrants or small manufacturers. The purchase and installation of these machines can be costly, which limits their adoption in numerous manufacturing facilities, which may hinder the broaching machine market growth.

Company Products

• Horizontal Internal Broaching Machine- Ohio Horizontal Broaching Machine with the HC model title has a high-tensile that features a steel guide head that is continuously welded and thermally stressed relieved and construction ensures rigidity and stability for accurate tool tracking. Ohio Horizontal Broaching Machines use a proven open-loop hydraulic system with a high-performance fixed displacement vane pump and consists of a capacity of 5 tons with a 20" stroke.
• VT315 Broach Machine- Pioneer VT315 Broach Machines are affordable and simple to set up and operate and capable of performing a wide range of internal and surface broaching operations. The VT315 includes a piston-type variable flow hydraulic pump and a 5-horsepower motor, which allows for fully adjustable cutter speeds of up to 35 feet per minute and a return speed of 70 FPM.
• Electro-Mechanical Vertical Rising Table Broaching Machine- Federal Broach's vertical rising table broaching machines are capable of handling any internal ring gear in production. With robust 50-75 ton broaching force capabilities and a wide range of 60-109 inch tool length capacities, the vertical rising table broach machine provides the versatility to accommodate any precision broaching application. It features a machine stroke of 2.25 to 2.50 meters with a cycle time of 44 seconds.

Segmentation

• By Type
  • Horizontal Broaching Machine
  • Vertical Broaching Machine
  • Continuous Broaching Machine
  • Others
• By Teeth Type
  • Finished
  • Semi-Finished
• By End-User
  • Automotive
  • Manufacturing
  • Oil & Gas
  • Aerospace
  • Others
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others