Asia-Pacific Broaching Tools Market Growth and Forecast by 2028

Historic Data: 2019-2020 | Base Year: 2021 | Forecast Period: 2022-2028

Asia-Pacific Broaching Tools Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Internal Broaches, External Broaches, and Special Broaches) and End User (Manufacturing, Automotive, Aerospace and Defense, Construction, and Others)

Report Date : Jun 2021
Report Code : TIPRE00023045

Category : Manufacturing and Construction
Status : Published

Available Report Formats :
No. of Pages : 95

Page Updated: Jun 2021

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

The APAC broaching tools market is expected to grow from US$ 73.64 million in 2021 to US$ 111.58 million by 2028; it is estimated to grow at a CAGR of 6.1% from 2021 to 2028.

China, India, Japan, South Korea, and Australia are major economies in APAC. Flourishing defense sector across APAC region is expected to surge the market growth. The rapid change in modern warfare has been urging the governments to allocate higher funds toward respective military forces. The higher military budget allocation enables the military forces to engage themselves in the development of robust arms and ammunition, indigenous technologies, rugged devices, and various other technologies. At present, the soldier and military vehicle modernization practices are peaking among most military forces to keep the personnel and vehicles ready for mission. With an objective to modernize armed forces, ministries across the APAC region are investing substantial amounts. Countries across APAC region are increasing their defense budgets year-on-year. The broaching tools are widely used in manufacturing various components of arms and ammunition, armed vehicles, military aircrafts, battle tanks, IFVs, and communication and computing devices. Thus, increasing defense budget will subsequently create growth opportunities for market players across APAC region.

In case of COVID-19, APAC is highly affected specially India. The outbreak has created significant disruptions in primary industries such as manufacturing, healthcare, energy & power, electronics & semiconductor, aerospace & defense, and construction. A significant decline in the growth of mentioned industrial activities is impacting the performance of the APAC broaching tools market. APAC is characterized by the presence of several developing countries, positive economic outlook, and huge industrial sector, in addition to the largest share of global population. These factors make APAC a major region for the growth of the broaching tools market. The lockdown of various plants and factories in many economies in the region is affecting the global supply chains and negatively impacting the manufacturing processes, delivery schedules, and product and service sales. APAC is a global manufacturing hub with countries such as China, Japan, and South Korea leading the global manufacturing sector. Disruptions in supply chains and manufacturing activities have led to the discontinuation of the production of new broaching tools, which is hindering the market growth. Meanwhile, the recent onset of the second wave of COVID-19 in India is expected further hamper the performance of the broaching tool manufacturers in the coming quarters of 2021.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC broaching tools market. The APAC broaching tools market is expected to grow at a good CAGR during the forecast period.

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APAC Broaching Tools Market Segmentation

APAC Broaching Tools Market – By Type

Internal Broaches
External Broaches
Special Broaches

APAC Broaching Tools Market – By End User

Manufacturing
Automotive
Aerospace and Defense
Construction
Others

APAC Broaching Tools Market, by Country

China
Japan
India
South Korea
Australia
Rest of APAC

APAC Broaching Tools Market -Companies Mentioned

American Broach & Machine Company
Blohm Jung Gmbh
Ekin S. Coop
Mitsubishi Heavy Industries Machine Tool Co., Ltd.
Nachi-Fujikoshi Corp

Asia-Pacific Broaching Tools Report Scope

Report Attribute	Details
Market size in 2021	US$ 73.64 Million
Market Size by 2028	US$ 111.58 Million
Global CAGR (2021 - 2028)	6.1%
Historical Data	2019-2020
Forecast period	2022-2028
Segments Covered	By Type Internal Broaches External Broaches Special Broaches By End User Manufacturing Automotive Aerospace and Defense Construction
Regions and Countries Covered	Asia-Pacific China India Japan Australia Rest of Asia-Pacific
Market leaders and key company profiles	American Broach & Machine Company Blohm Jung Gmbh Ekin S. Coop Mitsubishi Heavy Industries Machine Tool Co., Ltd. Nachi-Fujikoshi Corp

Research Manager

Nivedita Upadhyay

Manager,
Market Research & Consulting

Nivedita is an accomplished research professional with over 9 years of experience in Market Research and Business Consulting. Currently serving as a Project Manager in the ICT domain at The Insight Partners, she brings deep expertise in managing and executing Syndicated, Custom, Subscription-based, and Consulting research assignments across diverse technology sectors.

With a proven track record of delivering data-driven analysis and actionable insights, Nivedita has been a key contributor to several critical projects. Her work involves end-to-end project execution—right from understanding client objectives, analyzing market trends, to deriving strategic recommendations. She has collaborated extensively with leading ICT companies, helping them identify market opportunities and navigate industry shifts.

Nivedita holds an MBA in Management from IMS, Dehradun. Prior to joining The Insight Partners, she gained valuable experience at MarketsandMarkets and Future Market Insights in Pune, where she held various research roles and built a strong foundation in industry analysis and client engagement.

What are the Asia-Pacific Broaching Tools Market report deliverables?

Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
PEST and SWOT Analysis
Market Size Value / Volume - Global, Regional, Country
Industry and Competitive Landscape
Excel Dataset

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