The global broaching machines market is anticipated to be worth US$ 865.34 Million in 2022 and is expected to grow at a CAGR of 4.3% to surpass US$ 1,318.35 Million by 2032. With the increasing demand from several end-user industries such as automotive, aerospace and others, across the globe, and rise in the technological advancements and automation, the demand for broaching machines is predicted to grow during the forecast period.
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The Broaching Machines Market is a rapidly growing sector of the global manufacturing industry. Broaching machines are used for cutting and shaping metal parts, making them stronger and more durable. They are commonly used in the automotive, aerospace and construction industries. Broaching machines use a series of teeth-like tools to cut precise shapes into metal stock or components.
The growth of this market is being driven by the increasing demand for high-precision parts in the automotive and aerospace sectors, as well as advancements in technology that have enabled more efficient broaching operations.
In terms of regional markets, North America is expected to dominate the Broaching Machines Market due to its large number of automobile manufacturers present in the region. Europe is estimated to be the second largest market for broaching machines during the forecast period; however, its growth will be slower than North America's due to economic uncertainty caused by Brexit. Asia Pacific is projected to register significant growth during this timeframe; it will benefit from increasing investments in industrial infrastructure projects in China and India as well as decreasing labour costs.
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Key Companies-
- 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
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