Global Broaching Machines Market Size, Share, Growth Analysis Report - Forecast 2034

Broaching Machines Market: Industry Perspective

The global broaching machines market size was worth around USD 953.15 Million in 2024 and is predicted to grow to around USD 1491.58 Million by 2034 with a compound annual growth rate (CAGR) of roughly 4.58% between 2025 and 2034. The report analyzes the global broaching machines market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the broaching machines industry.

Request Free Sample

The market report is an indispensable guide on growth factors, challenges, restraints, and opportunities in the global market space. The broaching machines industry report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, PESTEL analysis, SWOT analysis, Porter’s five force analysis, and value chain analysis. Additionally, the broaching machines market report explores the investor and stakeholder space to help companies make data-driven decisions.

Broaching Machines Market: Overview

Broaching is a procedure of metal removal through the pulling and pushing of a cutting tool referred to as a broach. Moreover, in a broaching machine, the machine tool is pushed or pulled through the surface that is to be finished. Furthermore, finishing is done on contour and flat surfaces as well as internal or external surfaces. There are two kinds of broaching machines, namely, horizontal broaching machines as well as vertical broaching machines. Reportedly, horizontal broaching machines find a slew of applications in splines, broaching keyways, round holes, internal shapes, and slots. In addition to this, vertical broaching machines are utilized in a large number of operations as they can conveniently pass the work from a single machine to another one. Furthermore, these machines require either a pit or an operator tool.

Key Insights

• As per the analysis shared by our research analyst, the global broaching machines market is estimated to grow annually at a CAGR of around 4.58% over the forecast period (2025-2034).
• Regarding revenue, the global broaching machines market size was valued at around USD 953.15 Million in 2024 and is projected to reach USD 1491.58 Million by 2034.
• The broaching machines market is projected to grow at a significant rate due to increasing demand for precision machining in industries like automotive, aerospace, and general manufacturing, coupled with advancements in automation and CNC technology.
• Based on Type, the Horizontal Broaching Machine segment is expected to lead the global market.
• On the basis of End-use, the Automotive segment is growing at a high rate and will continue to dominate the global market.
• Based on region, Asia-Pacific is predicted to dominate the global market during the forecast period.

Request Free Sample

Broaching Machines Market: Growth Factors

Growing demand for products in various end-user industries will scale up the global market surge

Thriving industrial machinery and automotive sectors will steer the expansion of the broaching machines market across the globe. A prominent increase in defense spending has further spiked the demand for broaching machines. Moreover, a surge in the demand for fabricated metal products along with the production of heavy industrial instruments will proliferate the size of the global market. In addition to this, innovations in the production process are likely to pave the way for the expansion of the global market in the years ahead.

A rise in the preference for accurate and high-speed finishing processes in a slew of end-use sectors will prop up the expansion of the market globally. New product launches will account significantly for the expansion of the market globally. For instance, in December 2022, Nidec Machine Tool Corporation, a key producer of machine tools, introduced a visual inspection device referred to as Robot Camera SPEED for broaching machines. The strategic move will contribute lucratively towards the global market proceeds over the years ahead.  

Broaching Machines Market: Restraints

The need for huge fund allocation for small ventures can inhibit global industry expansion

The growing need for high initial capital investment for small projects can restrict the expansion of the global broaching machines industry. Furthermore, medium as well as small-scale firms purchase second-hand broaching machines and this can curtail the demand for the product along with affecting the market profitability as well as sales.

Broaching Machines Market: Opportunities

Technological breakthroughs in engineering & production processes open new growth opportunities for the global market 

A surge in technological innovations such as CAD systems, CNC, boxzy software, and automation will help the global broaching machines market explore new avenues of growth in the forthcoming years. An increase in the automation of engineering and manufacturing processes will create new facades of growth for the global market.  

Broaching Machines Market: Challenges

Changes in the costs of raw materials can create a big challenge for global industry expansion

An increase in the large number of suppliers of used broaching machines will create a huge challenge for the global broaching machines industry. Fluctuating raw material costs due to disruptions in the supply chain can further decimate the growth of the market across the globe.  

Broaching Machines Market: Segmentation Analysis

The global broaching machines market is segmented based on Type, End-use, and region.

Based on Type, the global broaching machines market is divided into Horizontal Broaching Machine, Vertical Broaching Machine, Surface Broaching Machine, Others.

On the basis of End-use, the global broaching machines market is bifurcated into Automotive, Aerospace & Defense, Industrial Machinery, Metalworking & Fabrication, Others.   

Broaching Machines Market: Report Scope

Broaching Machines Market: Regional Insights

North America to account for a major share of the global market over the anticipated timespan

North America, which contributed more than two-thirds of the global broaching machines market share in 2022, is expected to garner lucrative growth over the projected period. The market growth in the North American region over the prognosis period can be owing to the flourishing automotive manufacturing sector in the countries such as the U.S.

Furthermore, the broaching machines industry in the Asia-Pacific region is forecast to register the fastest CAGR in the assessment timeframe. The major growth drivers of the industry in the region include the presence of a large number of product manufacturing units in countries such as China and India. Apart from this, low operating costs and large production bases in Asia will further multiply the size of the regional industry in the years to come.

Broaching Machines Market: Competitive Analysis

The report provides a company market share analysis to give a broader overview of the key market players. In addition, the report also covers key strategic developments of the market, including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the broaching machines market on a global and regional basis.

The global broaching machines market is dominated by players like:

• MITSUBISHI HEAVY INDUSTRIES Ltd.
• Accu-Cut
• Apex Broaching Systems
• Broaching Machine Specialties
• Colonial tool group inc.
• The Ohio Broach & Machine Co.
• Pioneer Broach
• The Ohio Broach & Machine Co.
• AXISCO PRECISION MACHINERY Co. Ltd.
• YAO SHENG MACHINERY Co. Ltd.
• Power Broach
• YEOSHE HYDRAULICS TECHNOLOGY Co. Ltd
• Taizhou Chengchun Automation Co. Ltd.

The global broaching machines market is segmented as follows;

By Type

• Horizontal Broaching Machine
• Vertical Broaching Machine
• Surface Broaching Machine
• Others

By End-use

• Automotive
• Aerospace & Defense
• Industrial Machinery
• Metalworking & Fabrication
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America