Published: April 2017 | Report Code: SE10940 | Available Format: Excel
Hydraulic Press Machine Market Overview
The global hydraulic press machine market witnessed modest growth during 2013–2016 and is poised to register 4.8% CAGR in the forecast period (2017–2023). Advantages of hydraulic press machines over traditional press machines; increasing demand for fabricated metals in the automotive industry; and growing use of press machines in the industrial sector are some of the major factors driving the market growth.
Hydraulic press machines are mechanical devices that generate a compressive force using a hydraulic solid cylinder. Low labor costs and high productivity are some of the factors contributing to the popularity of these machines in the industrial sector. These machines find wide application in military in addition to the ceramics, abrasives, and automotive industries. They are majorly used for compressing metals into sheets, forging, power compacting, drawing, and other applications.
Hydraulic Press Machine Market Dynamics
One of the oldest mechanical devices to generate a compressive force, a mechanic press is undergoing technological transformation with the integration of variable frequency drives (VFDs) to reduce energy consumption. This can be viewed as a huge technological advancement in the hydraulic press machine market. VFD offers better operational efficiency by allowing the operator to set pressing speeds, further reducing the need for proportional valves. Owing to this, mechanical press machines are finding application in new areas, from coining to forging aircraft parts. These machines offer better performance and are more reliable than their traditional counterparts. New components, fast-acting valves, and energy-efficient circuits have reduced the energy consumed by these machines, further resulting in their high demand across the globe.
One of the major growth drivers for the hydraulic press machine market is the increasing demand for these machines in the automotive industry. Automotive industry is the largest end user of hydraulic press machines. These machines are extensively used in this industry for various applications, ranging from stamping to producing automotive body parts. Historically, the automotive industry registered notable growth, which further propelled the demand for these machines. In the forecast period, growth in the automotive industry, particularly in the Asia-Pacific (APAC) region, would further increase the demand for these machines.
Apart from this, advancements in technology, such as more user-friendly interface, are expected to drive the growth of the hydraulic press machine market in the near future. Such developments would enhance the operational efficiency in manufacturing processes in addition to increasing safety for the operators.
Increasing popularity of metal alternatives, such as structural plastics and fiber sheets, is hindering the growth of the hydraulic press machine market to some extent. Manufacturers are increasingly using these materials to design their products more efficiently. Structural plastics and fibers have comparatively better operability than aluminum, steel, and concrete. For instance, carbon fibers are increasingly being utilized in place of steel for manufacturing supercars. From a macro-perspective, these materials have a minor influence on the hydraulic press machine industry as of now. However, the popularity of these substitutes is expected to increase and pose challenges to the market players in the near future.
Furthermore, new technologies such as additive manufacturing and 3D printing are emerging as substitutes for hydraulic pressing, further impacting the growth of the hydraulic press machine market. Although 3D printing is comparatively expensive, its cost is expected to decline in the forecast period, further leading to its higher adoption, especially in developed economies. Furthermore, with reduction in prices of raw materials for 3D printers, the demand for hydraulic press machines is expected to reduce.
Hydraulic Press Machine Market Competitive Landscape
The hydraulic press machine market is characterized by the presence of a large number of regional and international players. The market is highly fragmented, which further contributes to the competition among these players. Moreover, the entry of new players is being witnessed, particularly in the APAC market.
Some of the major players in the global hydraulic press machine market are Greenerd Press & Machine Company Inc., Beckwood Press, Schuler AG, Amino Inc., Betenbender Manufacturing Inc., Dake Corporation, Asai Corporation, ENERPAC, French Oil Mil Machinery Co., Gasbarre Products Inc., DORST Technologies GmbH & Co. KG, Hefei Metalforming Intelligent Manufacturing Co. Ltd., Kojima Iron Works Co. Ltd., Jier Machine Tool, Japan Automatic Machine Co. Ltd., Jiangsu Yangli Group, and Komatsu America Corp.
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