Metal Forming Machine Tools Market to Grow by USD 5.8 Billion (2024-2028) as Global Industrial Automation Expands, AI-Driven Insights - Technavio

Oct 17, 2024

Oct 15, 2024, 19:56 ET

Share this article

NEW YORK, Oct. 15, 2024 /PRNewswire/ -- Report on how AI is driving market transformation- The global metal forming machine tools market size is estimated to grow by USD 5.8 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 6.05% during the forecast period. Large-scale industrial automation worldwide is driving market growth, with a trend towards government initiatives to promote machine tools industry. However, fluctuating raw material prices poses a challenge. Key market players include Accurl CNC Machine Anhui Manufactory Co. Ltd., Accurpress Product Sales, AMADA Co. Ltd., Andritz AG, Betenbender Manufacturing Inc., CINCINNATI Inc., DMG MORI Co. Ltd., ECKOLD AG, FAGOR ARRASATE S.COOP., Haas Automation Inc., Hyundai Wia Corp., JIER Machine Tool Group Co. Ltd., Komatsu Ltd., Lodesani and Carreri Srl, Mitsubishi Corp., MONDRAGON Corp., Nidec Corp., Santec Exim Pvt. Ltd., Sumitomo Heavy Industries Ltd., and TRUMPF SE Co. KG.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Metal Forming Machine Tools Market Scope

Report Coverage

Details

Base year

2023

Historic period

2017 - 2021

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 6.05%

Market growth 2024-2028

USD 5836.4 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.61

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 63%

Key countries

China, US, Germany, UK, and Canada

Key companies profiled

Accurl CNC Machine Anhui Manufactory Co. Ltd., Accurpress Product Sales, AMADA Co. Ltd., Andritz AG, Betenbender Manufacturing Inc., CINCINNATI Inc., DMG MORI Co. Ltd., ECKOLD AG, FAGOR ARRASATE S.COOP., Haas Automation Inc., Hyundai Wia Corp., JIER Machine Tool Group Co. Ltd., Komatsu Ltd., Lodesani and Carreri Srl, Mitsubishi Corp., MONDRAGON Corp., Nidec Corp., Santec Exim Pvt. Ltd., Sumitomo Heavy Industries Ltd., and TRUMPF SE Co. KG

Market Driver

The global metal forming machine tools market is anticipated to experience significant growth due to various government initiatives in different countries. In Japan, the Ministry of International Trade and Industry (MITI) has implemented strategic M&As and offers depreciation allowances to Japanese companies for purchasing machine tools. Additionally, state and nation-owned laboratories help SMEs adopt numerical control technology. In South Korea, the Korea Institute of Science and Technology (KIST) played a pivotal role in developing the first CNC machine, and large conglomerates have entered the industry with CNC technology. KIST provides funding for domestic users and long-term export credit financing for foreign buyers. In India, the government allows 100% FDI in the machine tools industry and exempts manufacturers from obtaining an industrial license. The Export Promotion Capital Goods (EPCG) scheme offers import and domestic sourcing of capital goods at reduced rates, providing significant cost savings for export-oriented manufacturers. These initiatives will positively impact the growth of the global metal forming machine tools market during the forecast period.

The Metal Forming Machine Tools market is experiencing significant growth, driven by trends in the Metal forming industry. Precision engineering is at the forefront, with a focus on high-precision metals for sectors like Aerospace and Electronics. Conventional machines continue to dominate, but advanced digital technology is gaining recognition. Bending devices, stamping equipment, casting machines, shearing devices, and punching machines are in high demand. Automation through robotics and automated equipment is transforming the industry. Bulk forming techniques like shear forming and industrial machinery are also trending. CNC bending machines, hydraulic presses, mechanical presses, forging machines, wire forming machines, and rolling mill machines are essential tools for Industrial Manufacturing in sectors like Construction, Transportation, and CNC. Smart embedded systems and IoT-enabled devices are enhancing productivity and efficiency.

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

Market Challenges

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview

This metal forming machine tools market report extensively covers market segmentation by

1.1 Automotive- The Metal Forming Machine Tools market is experiencing steady growth due to increasing demand from various industries such as automotive, construction, and aerospace. Key players in this market include Haas Automation, Makino, and Okuma. These companies offer a range of machine tools including CNC lathes, milling machines, and presses. Advanced technologies like 5-axis machining and automation are driving innovation in the market. Market size is expected to reach USDXX billion by 2026, with Asia Pacific being the largest region.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

The Metal Forming Machine Tools market encompasses a range of machinery used to shape and manipulate metals into desired forms. This includes Forming Machines for shaping metals through compression or impact, Bending Machines for bending and folding, Shearing Machines for cutting, Pressure Machines for forming through pressure, Hydraulic Presses and Mechanical Presses for compressing, Forging Machines for shaping metals through hammering, Wire Forming Machines for creating wire forms, Rolling Mill Machines for rolling metals into thin sheets, and CNC Bending Machines for precision bending. The market caters to various industries such as Aerospace, Electronics, Car industry, Industrial Manufacturing, Construction, Precision Engineering, Transportation, and Automated Equipment. The integration of advanced digital technology and automation recognition in Metal Forming Machine Tools has led to the production of High-precision metals for the Aerospace sector, Electronics sector, and other industries, enhancing productivity and efficiency. General Machinery and other key players continue to innovate and develop Smart Embedded Systems to improve the capabilities of Metal Forming Machine Tools.

Market Research Overview

The metal forming machine tools market encompasses a range of machinery used to shape and manipulate metals into desired forms. This includes Forming Machines, Bending Machines, Shearing Machines, Pressure Machines, Hydraulic Presses, Mechanical Presses, Forging Machines, Wire Forming Machines, Rolling Mill Machines, CNC Bending Machines, and various other types of machinery. The market caters to industries such as Aerospace, Transport, and Precision Engineering, among others. Advanced digital technology, including Smart Embedded Systems and IoT Enabled Devices, is increasingly being integrated into these machines for automation recognition and high-precision metal forming. The market also includes Conventional Machines for industries requiring large-scale Bulk Forming, Shear Forming, and Casting Machines. The Electronics sector, Car industry, Industrial Manufacturing, Construction, Transportation, and Automated Equipment sectors are significant consumers of metal forming machine tools. Robotics and Punching Machines are also part of this market. Overall, the metal forming industry continues to evolve, driven by the demands of various sectors and the integration of advanced technology.

Table of Contents:

1 Executive Summary2 Market Landscape3 Market Sizing4 Historic Market Size5 Five Forces Analysis6 Market Segmentation

7 Customer Landscape8 Geographic Landscape9 Drivers, Challenges, and Trends10 Company Landscape11 Company Analysis12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/

SOURCE Technavio