Asia Pacific Cold Forming and Cold Heading Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Material (Aluminum, Alloy Steel, Stainless Steel, and Others) and Industry (Aerospace and Defense, Automotive, Industrial Equipment and Machine

Asia Pacific Cold Forming and Cold Heading Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Material (Aluminum, Alloy Steel, Stainless Steel, and Others) and Industry (Aerospace and Defense, Automotive, Industrial Equipment and Machinery, and Others)   

The cold forming and cold heading in Asia Pacific is expected to grow from US$ 9,183.18 million in 2022 to US$ 13,720.86 million by 2028. It is estimated to grow at a CAGR of 6.9% from 2022 to 2028.

Growing Demand for Cold Forming and Cold Heading in Automotive Industry

The automobile industry widely uses parts molded by cold heading machines. The main metals used for cold heading include copper-based (Cu) metal alloys, pure copper, brass, phosphor bronze, stainless steel, and aluminum. Headers manufactured by cold heading machines are terminals and pins used in various automotive control units, engine control units (ECUs), pressure sensors, and other in-vehicle sensors. Technological advancements, climate change-related policies, and changing consumer tastes are driving the demand for eco-friendly, fuel-efficient, intelligent vehicles and innovations in electric and hybrid vehicles. Investment from multinational automakers has been observed in Asia Pacific countries such as India, Indonesia, Malaysia, and Thailand. In these countries, the cold heading machine market offers growth opportunities in the coming years. Therefore, all these market trends and increased investment in the automotive industry are boosting the demand for cold forming and cold heading processes.

Market Overview

Based on country, the Asia Pacific (APAC) cold forming and cold heading market is segmented into Australia, China, India, Japan, South Korea, and the rest of Asia Pacific. China and India have emerged as global manufacturing hubs over the last decade. Rising government initiatives to promote the manufacturing sector of these countries are influencing regional and global manufacturers to set up their production plants. With the growing advancement in the global healthcare sector, the medical device manufacturers across the region have increased their production volume and are constantly investing in the development of high-tech medical devices. These factors are increasing the volume of medical devices manufactured across the region, thereby increasing the demand for cold forming and cold heading solutions for integrating the several small components of the medical devices while manufacturing and contributing to the market growth. The Asia Pacific automotive industry has been rapidly increasing over the years owing to growing investment by domestic and international automotive manufacturers and government initiatives to promote the automotive industry. For instance, in April 2021, the Chinese government announced a mandate on auto manufacturers to increase their production of electric vehicles. The government has undertaken this initiative to increase the percentage of EV sales in China. Further, the rising investment by automotive companies to set up their manufacturing plants across the region is expected to increase the demand for cold forming and cold heading solutions. For instance, in June 2022, BMW group started its EV production in its new US$ 2.2 billion plant. Similarly, in October 2020, Hyundai announced the development of its new EV and R&D plant in Singapore. Thus, the above-mentioned factors are expected to contribute to the APAC cold forming and cold heading market.
Asia Pacific Cold Forming and Cold Heading Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Cold Forming and Cold Heading Market Segmentation

The Asia Pacific cold forming and cold heading market is segmented into material, industry, and country.
Based on material, the Asia Pacific cold forming and cold heading market is segmented into aluminum, alloy steel, stainless steel, and others. The alloy steel segment registered the largest market share in 2022.
Based on industry, the Asia Pacific cold forming and cold heading market is segmented into aerospace and defense, automotive, industrial equipment and machinery, and others. The automotive segment held the largest market share in 2022.
Based on country, the Asia Pacific cold forming and cold heading market is segmented into Australia, China, India, Japan, South Korea, and the rest of Asia Pacific. China dominated the market share in 2022.
Altra Industrial Motion Corp; Bharat Forge; Deringer-Ney Inc; Fukui Byora Co., Ltd.; KALYANI FORGE; and STANLEY are the leading companies operating in the Asia Pacific cold forming and cold heading market.

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