Global Metal Forming Machine Tools Market To Be Driven By Industry 4.0 Technologies In The Forecast Period Of 2021-2026
The new report by Expert Market Research titled, ‘Global Metal Forming Machine Tools Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global metal forming machine tools market, assessing the market based on its segments like technology, product, application, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
• Forecast CAGR (2021-2026): 4%
The growing shift towards advanced digital technologies in the manufacturing sector is projected to benefit from successful development. Furthermore, various benefits presented by the fourth industrial revolution are improved productivity and resource use. The coming years are expected to see the widespread introduction of additive manufacturing, a technique used from a computer file to create a three-dimensional structure. In addition, the market for their adoption in the coming years will also be motivated by advantages such as access to complicated geometries such as internal channels for conformal cooling, overcoming restrictions associated with conventional subtractive and casting production processes, and the simple manufacture of lightweight parts and personalised products.
Industry Definition and Major Segments
Metal forming machine tools are the necessary equipment used in the vehicle and automotive industry. Metal shaping may be defined as the deformation of the metal to the desired shape without any loss of raw materials. Basically, it comprises stamping tools, pressing, bending, and shearing devices.
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By technology, the market is divided into:
• Computerised Numerical Control (CNC)
On the basis of product, the market is segmented into:
• Rolling Mill Machines
• Bending Machines
• Hydraulic Presses
• Mechanical Presses
• Shearing Machines
• Forging Machines
• Wire Forming Machines
Based on application, the market is bifurcated into:
The regional markets for the product include:
• North America
• The Asia Pacific
• Latin America
• The Middle East and Africa
The automobile industry had the highest market share for metal forming machine tools in 2018. This advancement is due to rising technology advances comprising of lightweight design solutions, smooth connectivity, and autonomous driving. There is also a growing market worldwide for resource-efficient driverless vehicles. There will be strong growth in the precision engineering industry, powered by the rising demand for specialised precision equipment. The general machinery segment is expected to see a growing appeal of CNC shaping machine tools due to the increasing movement of industrial equipment manufacturers towards high performance and precision.
Key Market Players
The major players in the market are Mitsubishi Material Corporation, Amada Co., Ltd., Komatsu Ltd., Machine Tools (India) Limited, and Schuler AG, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Published Tue, 29 Mar 2022 05:22:42 -0500