12, 2022 -- The global drilling machine market is expected to grow by $540.03 million between 2021 and 2026, with a CAGR over the forecast period will be 5.79%. The market is fragmented due to the presence of a large number of local and international players. The nature of the market has become competitive due to the presence of a large number of players. Major vendors in the market are launching new products to increase their market share. Understanding the size of the market.
The driving force behind the market is innovation in electric drills complemented by cutting-edge technology. In addition, the advent of cordless drills is expected to drive the growth of the electric drill market.
Market vendors are constantly trying to develop innovative and technologically advanced products to meet the changing needs of consumers.
The report is broken down by product (hammer drills and rotary hammers, impact and rotary hammers, drills and rotary hammers), technology (cordless and corded drills), and geographic location (North America, Europe, Asia Pacific, Middle East and Africa, and South America).
In terms of products, the rock drill and rock drill market will show significant growth during the forecast period. This segment is driven by the construction industry's preference for rock drills and rotary hammers.
Cordless drills will hold the largest market share during the forecast period. The growth of this segment is due to the growing demand for cordless cordless power tools, which are very popular among consumers in developed countries.
During the forecast period, the market will witness significant growth in the Asia-Pacific region. The region will account for 34% of the global market share. Increasing investment in urban housing and the development of infrastructure and utilities stimulate the growth of the regional market.
Post time: Oct-12-2022
