The global hydraulic press machine market is expected to reach $11,733.2 million by the end of 2023, witnessing a CAGR of 4.8% during 2017–2023 (forecast period). Surging demand for fabricated metals and higher operational efficiency of hydraulic press machines over traditional press machines are driving the market growth. Additionally, increasing automation in the manufacturing industry is expected to support the growth of the market.
Hydraulic press machines develop compression using hydraulic cylinders for industrial processes. They are increasingly being adopted in various industries for processes such as coining, blanking, embossing, and stamping. Moreover, these machines are used to fabricate and extrude metals. The force produced by these machines at such levels cannot be duplicated by any other method.
Based on industry, the hydraulic press machine market is categorized into automotive, ceramics & abrasives, electrical & electronics, food & beverages, military, and others, of which the automotive industry held the largest share in the market during the historical period (2013–2016) and is also expected to dominate the market in the forecast period. This can be mainly attributed to the high demand for fabricated metals in the automotive industry for vehicle production, which continues to encourage the adoption of hydraulic press machines in this industry. Moreover, factors such as low labor costs and high efficiency in metal fabrication are supporting the adoption of these machines in this industry.
Asia-Pacific (APAC) led the hydraulic press machine market in 2016. Increasing demand for passenger vehicles, especially in China and India, and advancements in military capabilities are the key factors driving the demand for hydraulic press machines in the APAC region.
High growth in the automotive industry can be viewed as a major factor driving the hydraulic press machine market, globally. In the automotive industry, these machines are used for metal fabrication, wherein a piece of metal is transformed into an end-use product when it undergoes processes such as stamping, forging, forming, machining, and welding. Hydraulic press machines have a multitasking functionality required for metal fabrication. Moreover, these machines are largely used for metal stamping to manufacture automobile parts.
The automobile manufacturing industry across the globe is consolidated in nature, with a small number of players holding the majority of the share. Besides, the industry is expected to register significant growth in the APAC region. Emerging economies, such as India, China, and Indonesia, are largely driving the demand for automobiles, owing to which a large number of automobile manufacturers are setting up new manufacturing plants, further driving the demand for hydraulic press machines in the region.
The global hydraulic press machine market is fragmented in nature, owing to the presence of a large number of players. Regional players are competing with renowned international players on the basis of their product quality, features, and services.
Explore Report Description at: https://www.psmarketresearch.com/market-analysis/hydraulic-press-machine-market
Some of the key players operating in the 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.
HYDRAULIC PRESS MACHINE MARKET SEGMENTATION