Reaming Tools Market Size, Share, Trends, Growth and Forecast 2030

Reaming Tools Industry Prospective:

The global reaming tools market size was worth around USD 2635 million in 2022 and is predicted to grow to around USD 3490 million by 2030 with a compound annual growth rate (CAGR) of roughly 3.58% between 2023 and 2030.

Request Free Sample

Reaming Tools Market: Overview

Reamer tools are a part of the larger cutting equipment group used extensively in metalworking. In terms of structure, they are radially symmetrical and exhibit slightly twisted, straight, or spiral-fluted cutting surfaces that are polished to an extremely precise diameter. The main application of the remaining tools is to finish previously drilled, punched, or end-milled holes to achieve accurate and desired dimensions. These tools cannot be used to drill large holes and are only used to remove small amounts of material to ensure that imperfect round holes can be corrected. A key point to note is that the remaining tools have no applications on a surface with no holes.

Reamers are made of at least 3 precision-ground blades that are placed along their shank and perform the function of hole expansion by rotating within the hole. This motion allows the blade to scrape material from the hole causing the diameter to increase but in a controlled manner. The final surface is a smoother one when compared to the original hole. The industry for reaming tools is a niche market but is extremely helpful in certain applications which is expected to help the market players continue their growth streak in the coming years.

Key Insights:

• As per the analysis shared by our research analyst, the global reaming tools market is estimated to grow annually at a CAGR of around 3.58% over the forecast period (2023-2030)
• In terms of revenue, the global reaming tools market size was valued at around USD 2635 million in 2022 and is predicted to grow to around USD 3490 million, by 2030.
• The reaming tools market is projected to grow at a significant rate due to the rising consumption of reaming tools in the aerospace industry
• Based on industry segmentation, manufacturing was predicted to show maximum market share in the year 2022
• Based on type segmentation, straight reamer was the leading type in 2022
• On the basis of region, Asia-Pacific was the leading revenue generator in 2022

Request Free Sample

Reaming Tools Market: Growth Drivers

Rising consumption of reaming tools in the aerospace industry to drive market growth

The global reaming tools market is expected to grow owing to the increasing application of these precision tools in the aerospace sector where precision and high-grade safety are two extremely crucial components. In this application, reaming tools are used to finish and size several components of an aircraft including landing gear, engine parts, airframe structures, and other units. The application of reaming tools goes beyond these parts as manufacturers are now aiming to produce reaming tools that meet the specific needs of the aerospace industry. In recent times, there have been multiple aircraft failures with varying reasons for such accidents. The International Air Transport Association (IATA) has recorded over 39 aviation accidents in 2022. This has resulted in demand for higher accuracy and extensive inspection when manufacturing aircraft leading to a surge in the application of highly precise tools such as reamers.

Additionally, several emerging nations have amped up their spending on national air force units with 2022 and the first half of 2023 being filled with multiple defense aircraft deals. In July 2023, India and France signed a deal for the transfer of 26 Rafale-M jets provided by the latter country. In 2016, India spent €7.87 bn on a similar deal with France. Such contracts and obligations are also increasing in the private sector further driving the growth in the reaming tools industry.

Reaming Tools Market: Restraints

Requirement of skilled labor to optimize reaming tools' functional attributes may restrict market growth

The reaming tools industry growth is likely to face growth restrictions owing to the requirement of skilled labor since performance optimization can only be achieved when the tool is used by human resources who understand the exact application of reaming tools. However, there is a significant gap in the demand and supply of skilled workforce which hinders further growth in the industry. Factors such as limited knowledge about tool existence and application along with a lack of educational infrastructure that promoted the development of skilled machinists are responsible for the large gap in the candidate pool.

Reaming Tools Market: Opportunities

Rapid rate of production portfolio expansion to create further progress opportunities

Reaming tools are in high demand and this has resulted in the global reaming tools market players working toward rapidly expanding product portfolio by developing and selling reaming tools with advanced mechanisms and broader applications. In March 2022, Horn, a Europe-based cutting tool manufacturer, announced its plans to launch a new range of tools for thread milling and reaming. The new products will showcase novel coatings and geometry and include reaming tools for holes with larger diameters, two high-performance coatings, and an extensive range of products that can be used for circular interpolation milling of up to 8 mm diameter. In February 2021, NOV, formerly known as National Oilwell Varco operating in the oilfield services, launched the Falcon reamer range especially targeting challenging drilling requirements in the Middle East and North Africa (MENA) region. The reamer is inspired by the company’s tested and proven dog leg (DL) reamer borehole conditioning tool.

Reaming Tools Market: Challenges

High cost associated with the tools to create challenges against smooth expansion

Reaming tools are an expensive investment since there is a wide range of tools available in the market with varying dimensions and precise applications. This means that the consumers have to invest in buying a set of tools that best fits their requirements which adds to the total cost of purchase. Moreover, each tool is made of exceptional quality material and modern tools are equipped with advanced coating to reduce wear and tear of the tool due to excessive use. Additionally, reaming tools with exact precision or higher accuracy can cost even higher as compared to less accurate counterparts. Pricing remains a major challenge for the global market consumers.

Reaming Tools Market: Segmentation

The global reaming tools market is segmented based on industry, application, type, and region.

Based on industry, the global market segments are manufacturing, aerospace, automotive, energy, machinery, and others. In 2022, the highest growth was observed in the manufacturing industry since the most basic yet broad uses of reaming tools is in metalworking which involves shaping and reshaping metal to manufacture useful objects and parts applicable for specific industries. The increasing demand for precise metal parts in industries and rising innovation undertakings by reaming tool manufacturers to meet the dynamic and challenging demands of the individual market could lead to higher segmental growth. For instance, around 1.9 billion tons of steel was mined in 2022.

Based on application, the reaming tools industry divisions are size an existing hole, smooth an existing hole, align holes, enlarge an existing hole, and deburring.

Based on type, the reaming tools industry divisions are straight reamer, adjustable hand reamer, shell reamer, rose reamer, tapered reamer, combination reamer, carbide reamer, and indexable reamer. The most common type of reamers used straight reamers. They are made of a cylindrical surface and can be made of aluminum, steel, or other alloys. They generally consist of two or more pieces that are connected with the help of an axis allowing the tool to be tuned over and drilled through the same hole. Reamers, in general, can help in expanding an existing hole by up to 10% of the original diameter.

Reaming Tools Market: Report Scope

Reaming Tools Market: Regional Analysis

Asia-Pacific to take the lead during the forecast period

The global reaming tools market will witness the highest growth in Asia-Pacific due to higher demand for the tools in several Asian countries, China and India are two of the largest markets for reaming tools in terms of production and consumption. This is mainly due to the aggressive stance taken by the countries to improve regional economies by investing in some of the key industries including infrastructure development projects, the automobile sector, and the aviation industry. For instance, in June 2023, India’s budget airline IndiGo announced that it had signed a deal for 500 aircraft with Airbus. The contract is one of the record-breaking contracts in the history of aviation. In addition to this, other Asian nations such as China and Japan are focusing on pushing for higher innovation in the automobile sector. Japan is one of the largest suppliers of cost-friendly as well as luxury vehicles thus driving the consumption of advanced tools such as reaming equipment.

Reaming Tools Market: Competitive Analysis

The global reaming tools market is led by players like:

• Kennametal Inc.
• Sandvik Coromant
• Dormer Pramet
• Guhring Inc.
• OSG Corporation
• ISCAR Ltd.
• Walter AG
• MAPAL Dr. Kress KG
• Seco Tools
• Greenfield Industries Inc.
• BIG Kaiser Precision Tooling Inc.
• Sumitomo Electric Carbide Inc.
• Nachi America Inc.

The global reaming tools market is segmented as follows:

By Industry

• Manufacturing
• Aerospace
• Automotive
• Energy
• Machinery
• Others

By Application

• Size an Existing Hole
• Smooth an Existing Hole
• Align Holes
• Enlarge an Existing Hole
• Deburring

By Type

• Straight Reamer
• Adjustable Hand Reamer
• Shell Reamer
• Rose Reamer
• Tapered Reamer
• Combination Reamer
• Carbide Reamer
• Indexable Reamer

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa