North America Broaching Machines Market Forecast to 2028 – COVID-19 Impact and Analysis – by Type (Horizontal Broaching Machine, Vertical Broaching Machine, Surface Broaching Machine and Others), End-user (Automotive, Metal Fabrication, Aerospace and Defe

North America Broaching Machines Market Forecast to 2028 – COVID-19 Impact and Analysis – by Type (Horizontal Broaching Machine, Vertical Broaching Machine, Surface Broaching Machine and Others), End-user (Automotive, Metal Fabrication, Aerospace and Defense, Oil and Gas, and Others)       

The broaching machines market in North America is expected to grow from US$ 158.53 million in 2022 to US$ 198.30 million by 2028; it is estimated to grow at a CAGR of 3.8% from 2022 to 2028.
Need for high-precision systems and fabricated metal products is the major factor driving the growth of the North America broaching machines market. Broaching tools are designed to manufacture precise custom parts at a high speed. Broaching machines provide benefits such as power saving, high efficiency for high precision mechanical systems. The use of CNC broaching machines for key, gear, and metal cutting benefits manufacturers through energy savings and excellent precision. Electromechanical actuators are progressively replacing hydraulic drives owing to the increase in overall equipment efficiency, by providing better quality products. In recent years, cutting tools like broaching machine, and CNC controls have flagged the way for the elimination of hydraulics and its replacement in many applications by ball screws and servo drives.
The elevating demand for items made from fabricated metal and large industrial machinery, and improvements in the manufacturing techniques are also boosting the broaching machine market. The market for metal fabrication may be less prone to extreme volatility than construction or automotive sectors, allowing broaching machining methods to expand steadily. The machine tool cutting industry accounts for a significant share of metal manufacturing volume compared to the forming technology. Lathes, broaching, drilling, milling, and boring are among the key tools used in machine tool cutting.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America broaching machines market. The North America broaching machines market is expected to grow at a good CAGR during the forecast period.
North America Broaching Machines Market Revenue and Forecast to 2028 (US$ Million)

North America Broaching Machines Market Segmentation

North America broaching machines market is segmented into type, end-user, and country. Based on type, the global broaching machines market is segmented into horizontal broaching machine, vertical broaching machine, surface broaching machine, others. The horizontal broaching machine segment holds the largest market share in 2022. Based on the end user, the global broaching machines market is bifurcated into automotive, metal fabrication, aerospace and defense, oil and gas, others. Metal Fabrication segment holds the largest market share in 2022. Based on country, the North America broaching machines market is segmented into the US, Canada, and Mexico. The US held the largest market share in 2022.
Federal Broach Machine Company, Miller Broach, Nachi-Fujikoshi Corp, Pilot Precision Products (DuPont), Suntech Landriani Machine Tools Pvt. Ltd., The Ohio Broach & Machine Co., and Yeoshe Hydarulics Technology Co. Ltd. are among the leading companies in the North America broaching machines market.

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