Metal Forming Tools Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Metal Forming Machine Tools Market

The Metal Forming Machine Tools Market size was valued at USD 32.29 billion in 2023, and the market is now projected tgrow t66.91 USD billion by 2032, exhibiting a CAGR of 4.9% during the forecast period of 2023-2030.

The pandemic has been anticipated tbe a bane for the entire industrial developments of various market and fields. This has affected the overall supply and demand chains of the particular market. As a result of the government's lockdown and other steps tstop the coronavirus from spreading, all supply activities were postponed, which decreased the amount of product related tthis domain. These factors affected the Metal Forming Machine Tools Market growth.

The market for metal fabrication is expanding due tthe growing demand for fabricated metals from a variety of industries, including consumer electronics, automotive, and aerospace. The vast range of applications for metal fabrication, from office supplies like paper clips tairplane parts, is anticipated tsupport the expansion of the metal fabrication market. Due tgrowing industrial activity in developing nations like China and India, steel manufacturing has experienced tremendous expansion in recent years. Because of the increase in construction operations, steel fabrication is being used for a variety of purposes, including pipe and structure steel. The construction industry is being driven by government construction programs in different countries. These particular growth driving factors have been recorded tattribute the Metal Forming Machine Tools Market Share.

It is necessary for a product market twalk with the trends in order tincreases its lucracy and profits in shares and all over revenue. The market revenue for metal forming tools is being driven by the increase in heavy equipment manufacture. Consumers are embracing digitization in droves toptimize product valuation. As a result, smart embedded systems and power electronic design have become more and more popular. One of the market trends for metal forming tools is the increase of IoT-enabled devices brought about by smart systems, which give rise tpotential for greater human-machine interaction.

Comprehensive Analysis of Metal Forming Machine Tools Market

The segmentation of this particular market has been divided and then further subdivided intvarious categories. The market is divided based on technology inttwsegments: conventional and computerized numerical control (CNC) machine tools. The market is divided according tproduct introlling mill machines, bending machines, mechanical presses, hydraulic presses, shearing machines, forging machines, wire forming machines, and others. Application-based market segmentation includes precision engineering, transportation machinery, general machinery, and automobiles, among others. Major market share for metal forming tools is held by the automobile sector. These particular segmentations have been categorized intsuch groups sthat their attribution tthe overall revenue systems are properly recorded studied sas tdetermine which is the leading and most beneficial segment of all.

The market for metal forming tools is being driven by the rise in construction activity in Asia Pacific. The developing building markets in this region include countries like China, Malaysia, India, and Indonesia. The Asia-Pacific construction market, excluding India, was valued at trillions and is predicted tgrow ttrillions, according ta number of sources. The construction sector in Indonesia is anticipated texpand at a rate exceeding yearly growth, according ta number of secondary sources. This can be attributed tIndonesia's growing residential and non-residential construction industry. The region is expected tmaintain a significant proportion during the projected period.

Global markets are fiercely competitive and highly fragmented. Due ttheir creative packaging solutions, a few group of large market companies hold a fair amount of market share. Some of the major Companies includes Amada Holdings Co., Ltd. (Japan), Mitsubishi Corporation (Japan), Conzzeta Management AG (Switzerland), ANDRITZ (Austria), TRUMPF (Germany), Komatsu Ltd. (Japan), DMG MORI CO., LTD. (Japan), Hyundai WIA (South Korea), Machine Tools (India) Limited (India), Dalian Machine Tool Group (China).

In October 2021, This particular company has attributed the market growth in terms of revenue and shares system. Siemens AG owns 49% of Primetals Technologies, a company that supplies metal producers with specially designed plant equipment, which Mitsubishi-Hitachi Metals Machinery (MHMM) intends tpurchase.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2015-2026

Base Year 2018

Forecast Period 2019-2026

Historical Period 2015-2017

Unit Value (USD billion)

Segmentation By Technology

Computerized Numerical Control (CNC)

Conventional

By Product

Rolling Mill Machines

Bending Machines

Hydraulic Presses

Mechanical Presses

Shearing Machines

Forging Machines

Wire Forming Machines

Others (Iron Castings, Steel Casting, Steel Forging, And Others)

By Application

Automotive

General Machinery

Precision Engineering

Transport Machinery

Others (Energy, Electrical, and others)

By Region

North America (the U.S. and Canada)

Europe (Germany, UK, Russia, Italy, and the Rest of Europe)

Asia Pacific (Japan, China, India, Southeast Asia, and the Rest of Asia Pacific)

Middle East & Africa (South Africa, GCC and the Rest of Middle East & Africa)

Latin America (Brazil, Mexico, and the Rest of Latin America)