Boring Bar Market: Introduction
- A boring bar is a tool with an attached cutting insert, used to bore in any object by cutting and removing its inner surface. Boring bars are used when the required bore diameter is big. The boring bar has high finishing accuracy and is used to make an accurate diameter of the hole and with high surface roughness. They can be used to bore different objects made of metal and wood.
- Boring bars can be installed on machines such as lathe machines, milling machines, drill press machines, CNC lathes, and boring machines. Boring bars with cutting tool spins while moving toward the object to remove the inside material and to enlarge the inside diameter. By swiveling the head of boring bars, a tapered bore can also be made. Boring bars can be rotated and moved to facilitate material removal. A hollow passageway on boring bars allows the coolant to flow freely for cooling of the objects. Boring bars are of various types based on their dimensions, shape, and material. The shank length of the boring bar can vary from 80mm to 450mm.
Key Drivers of the Boring Bar Market
- Growth in the automotive industry due to innovations across the globe supports the growth of the boring bar market.
- Increasing demand for enhanced boring bars to develop accurate diameter of the bore and for high surface roughness is anticipated to fuel the growth of the boring bar market.
- Anti-vibration boring bars are now frequently used by several companies to produce products that are high in precision, which is boosting the growth of the market.
- Boring bars are required for boring and milling machines that are used by several end-user industries such as machinery, electrical & electronic equipment, transportation, construction, and metal fabrication. Automotive and aerospace industries are expanding rapidly. This in turn is estimated to drive the overall boring bar market due to their requirement in the manufacture of transmission components, engines, brake rotors, gear, bearings, and other components.
- Increase in demand for CNC machines due to their high efficiency and automation is boosting the boring bar market.
- Rise in investment from major companies and continuous growth in the industrial sector (marine, automotive, and power sectors) across the globe is a key driver of the boring bar market.
- Innovation in research and development of new generation boring bars having better functionality, ergonomic design, as well as enhanced efficiency are some of the reasons for the increasing demand for better and higher efficiency boring bars.
Restraints of the Boring Bar Market
- Fluctuating raw material prices of boring bars is a major factor hindering market growth.
- Boring bars that are technologically advanced having higher efficiency are often unaffordable for small and medium-sized enterprises. This can hamper the growth of the market.
- The Covid-19 pandemic forced companies to work with reduced labor force and low production that hampered the growth of the market.
North America to have Major Share of the Global Boring Bar Market
- Countries in North America and Europe are home to some of the key companies specialized in boring bars due to the rapid growth in the automotive and aerospace industry in these regions.
- Asia Pacific countries such as China, Japan, India, and Taiwan are key manufacturing hubs in the Asia Pacific region, where demand for boring bars is high due to rapid urbanization and huge consumption of automotive components in these regions.
Key Manufacturers Active in the Boring Bar Market Include:
- Aloris Tool Technology
- Mitsubishi Materials
- ASI Tooling
- C.R.M. Di Mazzoccato Arturo & Figli
- Echaintool Industry
- Ingersoll Cutting Tools
Key manufacturers are focusing on offset adaptors for reducing radial forces, greater stability, and to provide more space between the boring bar and the bore wall for improved chip removal with very deep bores unlike conventional steel or solid carbide boring bars that are often ineffective at high length to diameter ratio.
Global Boring Bar Market: Research Scope
Global Boring Bar Market, by Type
Global Boring Bar Market, by Shape
- Tapered Shank Boring Bar
- Flange & Ring Boring Bar
- Straight Shank Boring Bar
- Weldon Shank Boring Bar
Global Boring Bar Market, by Application
- Lathe Machine
- Milling Machine
- Drill Press Machine
- CNC Lathe
- CNC Boring Machine
- Line Boring Machine
Global Boring Bar Market, by Distribution channel
- Direct Sales
- Indirect Sales
Global Boring Bar Market, by Region
- North America
- The U.S.
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America