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The boring tools market size is forecast to increase by USD 1.33 billion at a CAGR of 6.41% between 2023 and 2028. The market is experiencing significant growth due to several key trends. One trend is the increasing adoption of Computer Numerical Control (CNC) based boring tools, which offer enhanced precision and productivity. Another trend is the rising popularity of advanced machining techniques, such as electrical discharge machining (EDM) and electrochemical machining (ECM) in the drilling and boring machinery industry. Furthermore, the demand for fine boring tools and coordinated measuring machines is increasing in various sectors, including aerospace and automotive, to ensure high-precision manufacturing. In the seaward region, offshore drilling rig counts continue to rise, driving the demand for reliable boring tools. The market is expected to witness continued growth in the coming years as these trends gain momentum.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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