The broaching machine market is expected to reach US$1.2 billion by 2031,

New York, Global Broaching Machine Market was valued at 0.8 Billion US$ in 2021 and is projected to reach 1.2 Billion US$ by 2031, at a CAGR of 4.0% during the forecast period.

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A broaching machine is used to finish a surface by pulling or pushing a cutting tool called a broach across the surface. The spindle has a series of cut teeth arranged side by side, with a gradual change in pitch from the first cut tooth to the last cut tooth. Broaching is especially useful for interior surfaces such as holes and internal gears, but it can also form gears and external planes. Broaching tools are usually hydraulically operated. Broaching tools are the simplest of all machine tools. The broaching tool consists of a spindle device, a workpiece holder, a drive mechanism and a suitable support frame.

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Market drivers and trends
The growing need for high precision systems and fabricated metal products is driving the broaching machine market. These machines and tools are designed to manufacture precise custom parts at high speed. They provide several benefits to end users, such as energy savings, cost savings, and high efficiency for high-precision mechanical systems. Using CNC broaching machines for cutting keys, gears and metals benefits manufacturers through energy savings and excellent precision. Electromechanical actuators are gradually replacing hydraulic drives due to increased overall equipment efficiency by providing higher quality products. In recent years, cutting tools such as broaching machines and CNC controls have paved the way to eliminate hydraulics and replace these broaching machines in many applications.

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Segmentation of the global broaching machine market

By type

-Horizontal broaching machine
-Vertical broaching machine
-Surface broaching machine

Per end user

-Metal fabrication
-Aerospace and Defense
-Petroleum gas

By region

-North America
-United States
-The rest of Europe

Key players in the global broaching machine market
The major players studied in the global broaching machine market are Federal Broach & Machine Company (US), General Broach Company (US), Hoffmann Räumtechnik GmbH (Germany), MTE Industries Pvt. (India), NACHI-FUJIKOSHI CORP. (Japan), Pilot Precision Products (USA), Stenhøj Hydraulik A/S (Denmark), Suntech Landriani Machine Tools Pvt Ltd. (India), The Ohio Broach & Machine Co. (United States) and YEOSHE HYDRAULICS GROUP (Taiwan).

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This press release was published on openPR.

James G. Williams