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The growth in the automotive and industrial machinery sector has developed a better base for market as it attracts enormous attention from foreign investors.

PORTLAND, OR, UNITED STATES, September 1, 2021 /EINPresswire.com / -- The vertical broaching machine segment registered as largest segment in the global broaching machine market in 2018 and is expected to witness significant growth during the forecast period. The key factors that drive the growth of the global broaching machine market include rise in demand for metal equipment such as gear parts in the automotive industry, and increase in broaching of components and parts in machinery industries in developing countries.

The global broaching machine market size was valued at $245.3 million in 2018, and is projected to reach $394.6 million by 2026, growing at a CAGR of 6.0% from 2019 to 2026.

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The broaching machines are used for removing unwanted metal from the surface of metal workpiece. Broaching machine types include vertical, horizontal, flatbed, rotary, and others. Moreover, it is also used in various operations in the aerospace and defense sector. The broaching machine market is primarily driven by expansion of the automotive sector in developing economics such as China, India, and Brazil to meet the demand for broaching of its parts and components.

Key Market Players

Accu-Cut Diamond Tool Co
American Broach & Machine Company
Arthur Klink GmbH
Axisco Precision Machinery Co., Ltd
Broaching Machine Specialties
General Broach Company
Mitsubishi Heavy Industries, Ltd
Nachi-Fujikoshi Corp
Pioneer Broach Company
V.W. Broaching Service Inc

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Key Market Segments

By Type

Horizontal Broaching Machine
Vertical Broaching Machine

By End-user

Automotive industry
Industrial Machinery
Precision engineering machine
Others

By Region

North America
Europe
Asia-Pacific
LAMEA

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David Correa
Allied Analytics LLP
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