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The Metal Forming Machine Tools Market size is estimated to grow at a CAGR of 5.77% between 2022 and 2027. The market size is forecast to increase by USD 5.25 billion. The growth of the market depends on several factors, such as the large-scale industrial automation worldwide, the rising demand for CNC-incorporated machine tools, and the demand from end-user industries. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
This report extensively covers market segmentation by type (computerized numerical control and conventional), end-user (automotive, industrial machinery, transportation, precision engineering, and others), and geography (APAC, Europe, North America, South America, and the Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
Metal Forming Machine Tools Market Forecast 2023-2027
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Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
There has been a significant investment in R&D in the metal forming machine tools market which is resulting in advances in machine tools, especially CNC machines. The main advantage of CNC machines is that they are highly productive and efficient and facilitate the incorporation of new technologies. There is an increasing adoption of automation in manufacturing operations due to the increasing demand for high-quality products across all industries.
Moreover, there is an increasing investment by businesses and investors in process automation. Additionally, there is an increasing replacement of manually controlled machine tools by numerical control (NC) and CNC machines, especially in small- and medium-scale industries. The rising use of automation in the machine tools industry will result in minimal human intervention while making machine tools more productive. Hence, such factors are expected to drive market growth during the forecast period.
The advancement of technology in the global metal forming machine tools market is resulting in the development of innovative, efficient, easy-to-operate, and time-saving machine tools. There has been a significant revolution in the manufacturing industry with the advent of electrical discharge machines, and ultrasonic, and electronic beam technologies.
Moreover, several companies are launching equipment that showcases improved operational capabilities than conventional machines. Additionally, there are significant innovations in both hardware and software applications that will positively impact the market. Hence, such factors are expected to drive the market during the forecast period.
It has become essential for manufacturers of metal forming machine tools and related accessories to provide specific solutions to fulfill the needs of customers. As a result, there is a significant increase in the capital requirement of these manufacturers. Some of the key raw materials that are used in the manufacturing of these machine tools and their accessories include materials such as steel and iron, aluminum, titanium, copper, brass, and other alloys.
Moreover, these raw materials add to the 8% of the overall production cost of the machine tools whereas labor costs only contribute 27%. Some of the primary raw materials that are used for the preparation of steel include iron ore and steel scrap. However, the demand for steel scrap is highly influenced by the price volatility of iron ore. Hence, factors such as a large share of the cost of raw materials in the total manufacturing cost of machine tools, and the fluctuation in raw material prices disrupt the pricing strategy of machine tool manufacturers and negatively impact the market. Hence, such factors are expected to hinder the market growth during the forecast period.
The computerized numerical control segment is estimated to witness significant growth during the forecast period. CNC, also known as subtractive fabrication can be referred to as a type of metal forming machine that is extensively used in the production process. It mainly comprises three components: digitized data, a computer-aided machining program, and a computer that automates, tracks and controls the movements of the machine. In this segment, the movements of the machine can be either linear or rotary.
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The computerized numerical control segment was the largest segment and was valued at USD 10.99 billion in 2017. There is increasing adoption of CNC across milling machines, lathes, routers, and robots as they are very helpful in cuts and angles on various workpieces at different levels quickly and precisely. This segment mainly helps with repetitive and predictable processes. The main advantage of using a CNC machine is that it minimizes the cost of production in the manufacturing of goods, reduces waste, and improves worker safety which is fuelling the growth of the segment. Hence, such factors are fuelling the growth of the segment which in turn will drive the market growth during the forecast period.
Based on end-user, the segment is classified into automotive, industrial machinery, transportation, precision engineering, and others. The automotive segment includes passenger cars, light commercial vehicles, heavy commercial vehicles, and others (including buses and coaches). Factors such as low interest rates and low fuel prices are significantly contributing to the growth of this segment. There is an increasing use of various ferrous and non-ferrous metals that are shaped into appropriate designs and then assembled to build vehicles in the automotive industry. Additionally, there is the increasing adoption of metal forming machine tools in the automotive industry for the production of pistons, crankshafts, connecting rods, chassis, and door suspension systems as well as rims and shock absorbers. Hence, such factors are fuelling the growth of the segment which in turn will drive the market growth during the forecast period.
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APAC is estimated to contribute 61% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. One of the main factors that is significantly contributing to the growth of the global metal forming machine tools market in APAC is the increasing adoption of machine tools in countries such as China, Japan, India, Taiwan, and South Korea. Additionally, the significant presence of manufacturing facilities in China is fuelling the consumption of machine tools in the country.
Moreover, the rising establishment of manufacturing facilities in the region is expected to increase the demand for machine tools in APAC as well as outpace the demand in developed regions, such as North America and Europe. Furthermore, there is an increase in investment by manufacturers in emerging economies due to low-cost production and the availability of a skilled workforce as well as growing demand for automotive, consumer products, and industrial machinery in the region. Hence, such factors are expected to drive the market growth in APAC during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global metal forming machine tools market witnessed a significant slowdown due to the shutdown of manufacturing units of various end-user industries, including automotive, transportation, and industrial machinery in APAC. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the resumption of operations in manufacturing units. Such factors are expected to drive the market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Accurl CNC Machine Anhui Manufactory Co. Ltd: The company offers metal forming machine tools such as ACCURL press brake smart 3-4 axis series small CNC press brake bending machine.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
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
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The metal forming machine tools market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Metal Forming Machine Tools Market Scope |
|
Report Coverage |
Details |
Page number |
177 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.77% |
Market growth 2023-2027 |
USD 5.25 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.42 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 61% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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 dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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