The global hydraulic press machine market is projected to witness moderate growth at a CAGR of 4.8% during 2017-2023. Hydraulic press machine refers to a mechanical device, which generates compressive force with the help of a hydraulic cylinder. Some of the key benefits associated with hydraulic press machine include low labor costs and high productivity. A hydraulic press machine finds application in several industries including automotive, ceramic and abrasives, and military. These presses are used for most industrial purposes such as transforming different types of metallic objects into compressed metallic sheets, drawing, forging, stamping, powder compacting and several others.
Major factors driving the growth of the global hydraulic press machine market include operational advantages of hydraulic press machines over mechanical press machines, increased automation in manufacturing sector and surge in demand for fabricated metal from the automotive sector. However, evolution of 3D printing as a substitute of hydraulic press machines and rise in demand for plastic and fiber materials are the key challenges restricting the growth of global hydraulic press machine market.
Hydraulic press is one of oldest mechanical devices used to generate compressive force in several industries. These press machines have been the preferred choice of many press end-users for years. A significant number of advancements to these machines allowed various applications of presswork ranging from coining to forging aircraft parts, find their way into the marketplace.
Modern hydraulic presses endeavor better performance and more reliability compared to the traditional ones. New electric components, fast acting valves and more efficient hydraulic circuits have enhanced the performance of these presses. Moreover, inclusion of VFD (variable frequency drive) in hydraulic press significantly helps to lower the electricity consumption. VFD also offers the ability to set the pressing speeds without bearing the expense of proportional valves, and reduced noise and heat levels during idle periods.
3D printing has been emerging as a substitute for hydraulic press machine, although its threat is relatively low, especially in developing economies. 3D printing is comparatively an expensive technology due to which its adoption is comparatively slower. However, the use of 3D printing technology is likely to expand over next few years. This technology has the potential to replace the traditional manufacturing equipment, such as hydraulic presses, if the cost associated with it declines in the future.
The performance of any manufacturing industry largely depends on the growth of its end-user industries. Automotive industry is considered as one of the largest end-user markets for manufacturing technology products. Anticipated growth in the automotive industry over the next few years is likely to help the manufacturing market to expand across the globe. In the automotive industry, stamping is an extensive manufacturing mechanism that is used to produce body parts for automobiles, for which hydraulic press machines are deployed.
Moreover, technological advancements such as evolution of user-friendly interfaces are expected to further fuel the growth possibilities for the global hydraulic press machine market over the next few years. Some of the major advantages associated with these interfaces include increased operational ability of the manufacturing processes and improved safety of the operators. This is likely to spearhead the growth of the global hydraulic press machine market in near future.
With the evolution of new materials such as structural plastics and fiber, manufacturing industries now have several options available to design their products. These new materials can offer performance advantages over traditional materials including aluminum, steel and concrete. Overall, material substitution has been only a minor factor affecting the demand for these metals in the past decade. However, the importance of substitution by alternative materials is likely to increase in near future. Surge in demand for these materials over metals is a major factor slowing down the growth of the global hydraulic press machine market.
The global hydraulic press machine market is highly fragmented due to the presence of large number of regional and international players operating across the globe. Due to the fragmented nature of the market, the competition among the global and regional players is high. It has also been observed that several large players are losing their market share owing to the inflow of new entrants, especially in Asia-Pacific.
Some of the major companies operating in the global hydraulic press machine market include Beckwood Press, Greenerd, Hare Press and Schuler. Other prominent players operating in the global hydraulic press machine market include Amino Corporation, Asai Corporation, Betenbender Manufacturing, DAKE, DORST Technologies, ENERPAC, French Oil Mill Machinery, Fujian Haiyuan Automatic Equipments, GASBARRE PRODUCTS, Hefei Metalforming Machine Tools, Japan Automatic Machine, Jier Machine Tool, Jiangsu Yangli Group, Kojima Iron Works and Komatsu.
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