Global Rolling Mill and Other Metalworking Machinery Market to Reach $73.3 Billion by 2030
The global market for Rolling Mill and Other Metalworking Machinery estimated at US$58.4 Billion in the year 2023, is expected to reach US$73.3 Billion by 2030, growing at a CAGR of 3.3% over the analysis period 2023-2030. Wire Drawing and Fabricating Machinery, one of the segments analyzed in the report, is expected to record a 3.6% CAGR and reach US$24.5 Billion by the end of the analysis period. Growth in the Coil Winding and Cutting Machinery segment is estimated at 3.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $15.3 Billion, While China is Forecast to Grow at 5.8% CAGR
The Rolling Mill and Other Metalworking Machinery market in the U.S. is estimated at US$15.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$16.1 Billion by the year 2030 trailing a CAGR of 5.8% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1% and 2.4% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 1.6% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$10.7 Billion by the year 2030.
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