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Premium Report Details
Base Year: 2023
Companies covered: 15
Tables & Figures: 300
Countries covered: 23
Pages: 145
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Press Machine Market
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Press Machine Market Size
The global press machine market size accounted for revenue of around USD 13.5 billion in 2023 and is anticipated to grow at a 5.7% CAGR from 2024 to 2032.
The term press machine tools describe pump able equipments employed in industrial works which apply pressure to a work piece to cut or form it to a desired shape. The application of force is usually performed mechaniclly, or by means of hydralics, pneumatics, or even electricity. These presses are used in many industries including automotive, aerospace, electronics, construction, and generally any industry which has manufacturing processes to perform forming, stamping, punching, forging, or molding.
In the construction of automotive machines, press machines are important in the contouring of premium materials such as aluminum and advanced high- strength steels of which the required consumption is on the rise due to the industry need for fuel efficiency and tending towards environmental friendly materials. The increase in automotive branches has positively impacted the need for advanced press technologies. In addition to this, the increase in urbanization and major infrastructure projects generates even higher requirements for presses which are needed to produce parts for the main components of the infrastructure like bridges, railways, and buildings. These factors fuel the development of modern, robust, and flexible press technologies in emerging economies.
Furthermore, there is a tendency or shift towards gaining press machines which can be adapted or changed quickly into other forms or purposes. Competitive industries look for efficient press machines systems which would satisfy changing production needs and reduce the cycle of the product. Many industries are replacing outdated press machines with newer models that offer higher efficiency, productivity, and reliability.
The more sophisticated types of press machines with automation and precision capabilities require a greater investment as an automaker can facilitate. This can be a problem for small and medium sized enterprises and companies in developing countries who want to improve their production systems as there is a financial constraint. Furthermore, upon appropriate performance of the use of hydraulic or mechanical systems, there is a need for routine maintenance which can be expensive in terms of downtime and safety.
In addition, there is always great worry about how traditional press machines can escalate operational expenses and worsen the environment. Because of that, the market is favoring the press machines that are energy efficient to reduce power expenditure without lowering the performance.
Press Machine Market Trends
Global press machine industry is also growing due to the increase in electric vehicles and use of light weight materials. The market is benefitting from the shift towards electric vehicles and the use of lightweight materials such as aluminium and composites in the automotive industry. These materials need to be formed and stamped at a higher degree of accuracy which increases the need for advanced press technologies. In addition, growth in the aerospace and defense industries due to increased air travel and defense spending provides new opportunities for press machines.
Press Machine Market Analysis
Based on type, the press machine industry is segmented into mechanical press, hydraulic press, servo press, pneumatic press. The mechanical press machine segment accounts for revenue of around USD 4.9 billion in the year 2023 and is expected to reach USD 6.6 billion by 2032. The workpiece serves as the foundation of a mechanical press which utilizes mechanical energy for sustenance. A motor driven crankshaft is used to operate it which transforms rotary motion to linear force. Such machines are cheaper than hydraulic or servo presses making them more appealing towards geometric and application variety among low-scale manufacturing operations.
Due to the mechanical press, operation capability of fast speeds, such mechanical devices are ideal when rapid cycling takes place along with high-volume production. In addition, the automotive industry contributes to the rise in demand of mechanical press machines due to the heavy need of mass-stamped parts such as body panels, brackets, and even chassis components. Because mechanical presses work well in high-speed production environments, they fit well in automotive manufacturing processes.
A CAGR of 7.8% during the forecast period suggests growth in the segment of the hydraulic press. Notably, hydraulic presses have the ability to apply a great deal of force needed for deep drawing, forming, and molding of various materials which makes them well-suited for heavy duty work. There is growing architectural and industrialization development within emerging economies, increasing the demand for strong manufacturing equipment like hydraulic presses.
Based on end use, the press machine market is segmented into aerospace & defense, automotive, general machinery & equipment, electrical & electronics, others (healthcare, marine, etc.). The automotive segment held a significant market share of around 34% in the year 2023.
The press machines in the automotive industry are important for the production of diverse parts like body panels, doors, hoods, chassis and even components for the engine. Prominent nowadays is the use of lightweight materials, including aluminum alloys, high-strength steels and even composites. One of the principles of utilizing press machines is to help in the forming of such materials into contours that aid the integration of lightweight structures of vehicles. This trend has been brought about due to legislation that helps enhance the vehicles' fuel efficiency, lowers harmful emissions, and complies with the global push for greener automobiles.
The innovation in press technology especially regarding servo driven and hydraulic components has greatly increased the speed, precision, and productivity of press machines. Such advancements allow for faster cycle times, shorter setup times, and greater flexibility in automobile production.
As for the aerospace & defense segment, its growth is estimated at 7.6% CAGR in the forecast period. Global usage of commercial aviation has grown sharply and so has the need for defense spending to develop military aircrafts. This particular development contributes greaty to the dire need for press machines. Moreover, these machines are essential, to increase output levels and therefore productivity, to adequately satisfy growing market demand. The globalization of aerospace supply chains has forced aerospace manufacturers to integrate press machines. Now, they can be efficiently used to coordinate operations in different regions in order to satisfy vast market needs.
Asia Pacific Region: By 2023, the press machine market was primarily regulated by Asia Pacific with a sturdy 42% market share. It’s forecasted that this region will grow more than 5% during 2024-2032.
With the development of nations such as China, Japan, South Korea and India, there has been a growing globalization and employment of sophisticated equipment in the manufacturing industries. The press machines will see an increase in usage from various sectors such as automotive, electronics, consumer goods and even aerospace.
The growth of the Press has been further propelled by the rapid expansion of the automotive industry in Asia. The government has been supporting the adoption of electric vehicles through an increase in funding, which has coupled with the population’s growing demand for automobiles increase the vehicle output. There is a multitude of press machines which are crucial for the making of various automotive parts such as body panels, chassis, and even parts of the engine.
The increase in spending for Industry 4.0 automation, robotics as well as the increase in investment through out the Asia Pacific has all been contributing to better efficiency and output from manufacturing. This trend induces the use of advanced press technologies for better overall output production.
North America: The value of the press machines market in North America was USD 3.4 Billion and is expected to reach USD 5.1 Billion by 2032. North America is witnessing rapid developments in press machines, especially the servo-driven systems, hydraulic automating presses, and the IoT integration. These innovations improve manufacturing efficiency, reduce cycle times and product quality, all of which are essential in the automotive, aerospace, and defense industries.
Press Machine Market Share
With several key players competing for market share. Companies such as Schuler Group, AIDA, Komatsu Ltd., STAMTEC, AMADA PRESS SYSTEM CO., LTD. were among the prominent players in this market. They are expected to hold a market share of around 17% in 2023 in the global market. There are large number of players operating in the market. However, consumers are more inclined towards branded and high-quality products across the world.
Press Machine Market Companies
Some of the key players profiled in the press machine industry report include:
Press Machine Industry News
The Press Machine market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) and Volume (Million Units) from 2018 to 2032, for the following segments:
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Market, By Type
Market, By Capacity
Market, By Application
Market, By End Use
Market, By Distribution Channel
The above information is provided for the following regions and countries:
North America
Europe
Asia Pacific
Latin America
MEA