DUBLIN, July 15, 2021 /PRNewswire/ — The “Broaching Tools Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Type and End-User” report has been added to ResearchAndMarkets.com’s offering.
The global broaching tools market was valued at US$ 148.89 million in 2020 and is projected to reach US$ 216.90 million by 2028; it is expected to grow at a CAGR of 4.82% during 2020-2028.
Broaching tools are used for sharping the workpiece into a high precision component. Broaching tools are made of steel and are available in a wide range of styles for different applications. These tools have multi-tooth designs for creating successive cuts over the workpiece at high speeds.
The workpieces are made from metals such as aluminum, copper, steel, brass, and bronze; graphite; and wood. Broaching can be of two types: internal broaching and external broaching. The internal broaching technique is used for sharping the internal surfaces of the workpiece, while the external broaching is used for sharping the external surface of the workpiece.
The broaching tools market is experiencing significant growth owing to escalating industrialization across the world, especially in Asia-Pacific. Steady economic growth and favorable government policies are attracting companies to set up manufacturing facilities in Asian countries
Impact of COVID-19 Pandemic on Broaching Tools Market
The COVID-19 outbreak is adversely affecting the industries worldwide and this devastating effect is continuing in 2021 as well. The outbreak created significant disruptions in primary industries such as manufacturing, healthcare, energy & power, electronics & semiconductor, aerospace & defense, and construction.
A significant decline in activities in the mentioned industries is impacting the performance of the broaching tools market negatively. The reimplementation of containment measures such travel restrictions, trade bans, and workforce limitation at workplaces has disrupted the manufacturing, supply, and sales of various businesses, including industrial equipment such as broaching tools.
Major players operating in the market are American Broach & Machine Company; Arthur Klink GmbH; Colonial Tool Group Inc.; Ekin S coop; Blohm Jung GmbH; Messer Raumtechnik GmbH & Co. KG; Mitsubishi Heavy Industries Machine Tool Co., Ltd.; Nachi-Fujikoshi Corp.; and The Broach Masters, Inc.
Key Topics Covered:
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.2 Secondary Research
3.3 Primary Research
4. Broaching Tools Market Landscape
4.1 Market Overview
4.2 PEST Analysis
5. Broaching Tools Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Bolstering Manufacturing Sector In APAC
5.1.2 Rising Automotive Production
5.2 Market Restraint
5.2.1 Fluctuating Prices of Raw Materials
5.3 Market Opportunities
5.3.1 Booming Defense Sector
5.4 Future Trends
5.4.1 Emergence of Industrial Automation
5.5 Impact Analysis of Drivers and Restraints
6. Broaching Tools – Global Market Analysis
6.1 Global Broaching Tools Market Overview
6.2 Global Broaching Tools Market Revenue Forecast and Analysis
6.3 Market Positioning – Five Key Players
7. Broaching Tools Market Revenue and Forecast to 2028 – Type
7.2 Broaching Tools Market, By Type (2020 And 2028)
7.3 Internal Broaches
7.4 External Broaches
7.5 Special Broaches
8. Broaching Tools Market Analysis and Forecast to 2028 – End User
8.2 Broaching Tools Market, By End User (2020 And 2028)
8.5 Aerospace and Defense
9. Broaching Tools Market – Geographic Analysis
10. Broaching Tools Market – COVID-19 Impact Analysis
11. Industry Landscape
11.2 New Product Development
12. Company Profiles
- American Broach & Machine Company
- Arthur Klink GmbH
- Colonial Tool Group Inc.
- Ekin S coop
- Blohm Jung GmbH
- Messer Raumtechnik GmbH & Co. KG
- Mitsubishi Heavy Industries Machine Tool Co., Ltd.
- Nachi-Fujikoshi Corp.
- The Broach Masters, Inc.
- Miller Broach
For more information about this report visit https://www.researchandmarkets.com/r/3vwqn3
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SOURCE Research and Markets