United States, Rockville, MD, June 14, 2022 (GLOBE NEWSWIRE) -- As per the recently published report by Fact.MR, a market research and competitive intelligence provider, the global power press machines market is valued at US$ 5.3 billion in 2022 and is predicted to expand at an impressive CAGR of 5.4% over the forecast period (2022 to 2032).
Press machines are widely used in the electric and electronics industry, automotive, aerospace & defense, and other small manufacturing or material-forming industries. Observing the overall market trends and the need for safe, clean, and quick deliverables, respective industry stakeholders are realizing the need for modern equipment and machinery such as advanced press machines in place of old traditional models.
Use of advanced press machinery results in optimal results and energy efficiency in manufacturing processes, in addition to savings in terms of time and overhead expenses, and lower inventory and waste generation.
A noteworthy opportunity arises from the electrical and electronics manufacturing industry. Press machines are used for manufacturing small chips for data storage as well as housings & cases for large electronic devices. The electrical and electronics industry is accelerating at a rapid pace, due to which, demand for press machines in the industry is also rising in parallel. Press machines such as hydraulic presses are widely used for assembling parts of the shaping panels of microwave refrigerators, laundry machines, and dishwashers.
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Power press machines, which have become increasingly popular as a product for providing optimal operation in terms of punching, cutting, and pressing across several industries, are expected to gain traction in the market and push sales beyond US$ 9 billion by the end of 2032.
Key Takeaways from Market Study
- Hydraulic power press machines are likely to capture a market share of 30% by the end of 2032
- Demand for above 500 ton machines is likely to increase at a CAGR of 3.3% over the forecast period of 2022–2032
- Automotive, as an end-use industry, is likely to expand at a CAGR of 6% and capture a market share of around 55% by 2032.
- Servo (electric) machines are expected to reach a market valuation of around US$ 3 billion by 2032
- Based on region, demand for power press machines is expected to increase at CAGRs of 5.6% and 4.9% in Asia Pacific and Europe, respectively, over the forecast period.
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Market Developments
Companies and brands in end-use industries such as automotive, electrical & electronics, and others are increasingly using power press machines for their various needs. Power press machines in the capacity range of 201-500 tons are seeing accelerating demand.
Companies are developing long-term strategic partnerships with power press machine manufacturers to ensure that the technology is up to date across their production facilities.
Market participants are improving their brand presence through collaboration activities with end-use industry stakeholders. Market frontrunners have captured significant share through robust distribution networks.
Automotive and electronics manufacturers have developed constructive partnerships with power press machine manufacturers to provide consistency in demand and support for installation and maintenance purposes.
Key Segments of Power Press Machines Industry Research
Power Press Machines Market by Machine Type:
- Servo (Electric) Power Press Machines
- Mechanical (Electric) Power Press Machines
- Hydraulic Power Press Machines
- Hybrid Power Press Machines
- Others
Power Press Machines Market by Capacity :
- Below 100 Ton Power Press Machines
- 101-200 Ton Power Press Machines
- 201-500 Ton Power Press Machines
- Above 500 Ton Power Press Machines
Power Press Machines Market by End-use Industry :
- Automotive
- Aerospace / Military
- Electrical & Electronics
- Ship Building
- General Machineries
- Home Appliances
- Others
Power Press Machines Market by Region :
- North America
- Latin America
- Europe
- Asia Pacific
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global power press machine market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights based on segments such as machine type [servo (electric), mechanical (electric), hydraulic, hybrid, others], capacity [below 100 tons, 101-200 tons, 201-500 tons, above 500 tons], and end-use industry [automotive, aerospace / military, electrical & electronics, shipbuilding, general machinery, home appliances, others], across major regions of the world (North America, South America, Europe, Asia Pacific, and the Middle East & Africa).
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