A line boring machine is utilized to enlarge a hole that has already been drilled or cast, using one or multiple cutting tools that are held within a boring head. These tools are usually very flexible and can be utilized in a variety of projects. Line boring machines work by using one or more cutting tools held within a boring head that achieves greater accuracy in cutting internal diameters. Moreover, it can also be used to create tapered holes. These tools are typically used in the Original Equipment Manufacturing (OEM) industry. Emerging products with advanced technology, and innovative design are expected to remain attractive among end-users.
Major drivers of the global line boring machine market include continuous growth in the industrial sector, rise in dependency on line boring machines, and rise in investment from major companies in line boring machines. Moreover, robust growth in the marine and power generation sector across the globe are expected to propel the global line boring machine market during the forecast period.
However, easy availability of substitute machinery, increase in cost of maintenance, and lack of awareness about the product are likely to restrain the growth of the line boring machines market in the near future. Nevertheless, development of new and innovative products targeting new users, offering products to end-users through rental fleet services, and wider reach of products through different channels are expected to create significant opportunities for the line boring machine market during the forecast period.
The global line boring machine market can be segmented based on product type, design, power source, application, distribution channel, and region. Based on product type, the market can be bifurcated into portable line boring machines and stationary line boring machines. Based on design, the market is segmented into vertical line boring machine and horizontal line boring machine. Based on power source, the global line boring machine market is segmented into electric, pneumatic, or hydraulic. In terms of application, the market can be split into energy, mining, construction, oil & gas, marine, and others. In terms of distribution channel, the market can be categorized into online channel and offline channel. The online segment can be further split into company websites and e-commerce websites.
Based on region, the global line boring machine market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The line boring machine market in North America is expected to grow significantly due to its ability to perform multi-functional tasks. In Europe, rising adoption of high specification features for smooth drilling by end-users has promoted the use of line boring machines. In Asia Pacific, rapid growth in the usage of heavy machinery and growth in the industrial sector has propelled the demand for line boring machines.
Additionally, rise in dependence on technologically advanced line boring machines by end-users is likely to boost the growth of the line boring machine market in the region. In Middle East & Africa, rapid growth in the automotive, power generation, and petroleum sector are expected to boost the line boring machine market in the coming years. South America is seeing rising penetration of advanced line boring machines as per requirement of the industrial sector, which is expected to propel the growth of the line boring machine market in the region during the forecast period.
Major players operating in the global line boring machine market are Rottler Manufacturing LLC., CLIMAX Manufacturing Company, Elsa Srl, York Portable Machine Tools, BARBCO, INC., PROTEM SAS., Mactech, Inc., SCM Group, AW Machinery LLC., Shenzhen DTH Machines Co., Ltd, Hoffman Manufacturing, Inc., Lokesh Machines Limited, The Alfing Special Machine Group, and Mirage Machines Ltd.