Energy

Drilling Tapping Machine Market Share, Size Is Poised To Witness Significant Gains Of Over Percentage

Press Release

A drilling machine is used for making holes in solid materials such as metal, wood, or other materials. Demand for drilling machines is increasing due to their usage in the end-user industries such as residential and non-residential applications. Increasing in the population followed by growing economies is expected to drive the demand for drilling machines in the near future. A tapping machine is utilized to test the impact sound insulation of floors. Sectors such as residential, commercial, manufacturing, institutional and electric utilities are witnessing infrastructural development, which in turn is boosting the market for drilling and tapping machines.

Drilling machines are also used to perform operations such as boring, reaming, and countersinking. Technological innovations in the drilling machines is increasingly being adopted by the end-use sectors which require mixing and grinding of solid and liquid materials. The Oil companies spend significant amounts on procuring and operating special-purpose oil drilling machinery. Oil & gas can be extracted economically from the deep ocean floor of the directional drilling machines. The directional drilling machines increases the area covered by a single rig, saving capital expenditure. Increase in demand for chemical and petrochemicals products and rise in exploration and production activities in distant locations and deep waters are boosting the drilling and tapping machine market in the forecast period.

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Based on type, the drilling and tapping machine market can be classified into fully automatic, semi-automatic, and manual type of machines. Increase in preference for digitalization and usage artificial intelligence is expected to drive the demand for automatic tapping machines. Under the conventionally controlled drilling machine, the depth control mechanism is not possible due to over drilling job gets failed at time of drilling. The semiautomatic drilling machine is estimated to automatically control the depth at a safer mode. The semiautomatic drilling machine is widely utilized in mechanical workshops and thus makes the work easier. It consumes less time and effort, as compared to the conventional drilling machine. The primary aim of advanced technology in special drilling machines is to reduce manpower, save time, and provide better finish.

In terms of the technology, the drilling and tapping machine market can be segregated into hydraulic, pneumatic, and magnetic. The magnetic drilling technology involves the usage of magnetically guided instrument to measure the distance between the signal source and instrument location. Presently, the magnetic guidance drilling technology is applied to drill horizontal wells, CBM horizontal connected wells, underground soluble minerals, and relief well.

Based on application, the drilling and tapping machine market can be classified into automotive parts, rolling mill, power press, paper mill, steel plants, and extrusion.

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In terms of region, the drilling and tapping machine market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Middle East & Africa is projected to hold a substantial share of the global drilling and tapping machine market during the forecast period. In terms of value North American market is likely to follow the Middle East during the forecast period. The market in Asia Pacific is expected to expand at a rapid pace in the next few years.

Key players operating in the global drilling and tapping machine market are, Baker Huges, Inc., NewTech Drilling Products LLC,  Robert Bosch Tool Corporation, Scientific Drilling International, Inc., Varel International, Inc., National Oilwell Varco, Halliburton, Torquado and Atlas Copco Drilling Accessories Inc.

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