Metal Forming Machine Tools Market Outlook 2024-2033: Trends and Projections
Metal Forming Machine Tools Market Expansion 2024-2033: Growth Drivers and Dynamics
Global Metal Forming Machine Tools Market Analysis 2024: Size Forecast and Growth Prospects
Metal Forming Machine Tools Market 2024-2033: Technological Advancements, Competitive Landscape and Strategies
Global Metal Forming Machine Tools Market Overview 2024: Size, Growth Rate, and Segments
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The metal forming machine tools global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Metal Forming Machine Tools Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The metal forming machine tools market size has grown steadily in recent years. It will grow from $56.79 billion in 2023 to $59.55 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to increasing demand across various industries, an increase in the need for precise manufacturing, increasing industrial activities in developing economies, a rise in construction activities, and increasing efficiency, productivity, and flexibility.
The metal forming machine tools market size is expected to see strong growth in the next few years. It will grow to $72.46 billion in 2028 at a compound annual growth rate (CAGR) of 5%. The growth in the forecast period can be attributed to growing investment in R&D, increasing advancements in material science, growing demand for high-precision components, rising shift towards advanced digital technologies, growing adoption of automation and robotics. Major trends in the forecast period include integration of robotics and automation technologies, adoption of digitalization and smart technologies, demand for lightweight materials, development in software integration, advancements in hybrid technologies.
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Scope Of Metal Forming Machine Tools Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Metal Forming Machine Tools Market Overview
Market Drivers –
The increasing construction activities are expected to drive the growth of the metal-forming machine tools market going forward. Construction activities include building, modifying, repairing, and demolishing structures and infrastructure for residential and non-residential projects. Construction activities are rising primarily due to increased urbanization, demand for housing, and the need for commercial spaces, which are driving construction projects to accommodate this shift. Metal-forming machine tools provide customizable solutions for various construction requirements, enhancing metal strength and endurance. Their automation increases efficiency and production, resulting in timely and cost-effective project completion. For instance, in November 2023, according to the Office for National Statistics, a UK-based government department, new construction activities saw an increase of £18,161 million ($19.96 million) in 2022, with private sector projects growing by 16.8% and public sector projects rising by 13.1%. Therefore, increasing construction activities are driving the growth of the metal-forming machine tools market.
Market Trends –
Major companies operating in the metal forming machine tools market are focused on developing advanced technologies, such as digital sheet forming (DSF) technology, to improve efficiency and accelerate production processes. Digital sheet forming (DSF) technology is a cutting-edge manufacturing technique that uses digital technologies to optimize the production of sheet metal parts. It enhances precision and accelerates production cycles compared to conventional methods. For instance, in September 2022, Desktop Metal, a US-based technology company that designs 3D printing systems, launched Figur G15. It has a maximum forming area of 1450 x 1000 mm and can handle sheet metals up to 2.0 mm thick for steel and 2.5 mm for aluminum, with withdraw depths of up to 400 mm vertically. This system significantly reduces production costs and lead times, producing parts for around $10 per piece versus $160 with standard stamping processes. The G15, which can make fully formed parts in less than an hour, is excellent for low-volume production and prototyping, especially in the automotive and aerospace industries. Furthermore, it takes minimal post-processing to get a high-quality surface finish.
The metal forming machine tools market covered in this report is segmented –
1) By Type: Bulk Forming, Sheet Forming, Powder Metal Forming, Other Types
2) By Raw Materials: Ferrous, Non-Ferrous, Steel, Aluminum, Other Raw Materials
3) By Application: Automotive, Manufacturing, Precision Engineering, Construction, Aerospace And Defense, Other Applications
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Regional Insights –
North America was the largest region in the metal forming machine tools market in 2023. The regions covered in the metal forming machine tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the metal forming machine tools market are TRUMPF Inc., Amada Holdings Co. Ltd., Schuler AG, Mitsubishi Steel Mfg Co. Ltd, Fagor Arrasate, Empire Industries Limited, LVD Group, Macrodyne Technologies Inc., Haeusler AG, Accurpress, Schröder Group, Hammer Presses, Krrass, Cincinnati Machine, Bystronic Group, KNUTH Werkzeugmaschinen GmbH, Röcher GmbH & Co. KG, Electro Mechanical Solutions LLC (EMS), Anhui Donghai Machine Tool Co. Ltd, Jadestone Machine Tool Co. Ltd
Table of Contents
1. Executive Summary
2. Metal Forming Machine Tools Market Report Structure
3. Metal Forming Machine Tools Market Trends And Strategies
4. Metal Forming Machine Tools Market – Macro Economic Scenario
5. Metal Forming Machine Tools Market Size And Growth
…..
27. Metal Forming Machine Tools Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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