Europe Isostatic Pressing Market Forecast to 2030 - Regional Analysis - by Offering (Systems and Services), Type [Hot Isostatic Pressing (HIP), Cold Isostatic Pressing (CIP), and Warm Isostatic Pressing (WIP)], and Application (Automotive, Aerospace and

Europe Isostatic Pressing Market Forecast to 2030 - Regional Analysis - by Offering (Systems and Services), Type [Hot Isostatic Pressing (HIP), Cold Isostatic Pressing (CIP), and Warm Isostatic Pressing (WIP)], and Application (Automotive, Aerospace and Defense, Precision Machine Manufacturing, Medical, Energy and Power, and Others)

The Europe isostatic pressing market was valued at US$ 1,714.75 million in 2022 and is expected to reach US$ 2,684.61 million by 2030; it is estimated to register a CAGR of 5.8% from 2022 to 2030. Expanding Aerospace and Defense Sector Drives Europe Isostatic Pressing Market The aerospace & defense sectors are expanding significantly globally. The aircraft manufacturing industry has been under constant pressure from the commercial aviation sector to deliver the required volumes of aircraft fleets of various models. According to Boeing and Airbus forecasts, more than 24,000 commercial aircraft will be delivered by the end of 2041. This is expected to bolster the demand for new aircraft engines along with next-generation digital ignition systems. The aircraft deliveries by different aircraft OEMs such as Boeing, Airbus, Lockheed Martin, Bombardier, and ATR are constantly boosting their respective production capacities to reduce the increasing backlogs from their respective pipelines, which in turn is generating demand for aircraft engines. The increase in aircraft production will lead to an increase in the demand for isostatic pressing technique. Modern aircraft designs involve intricate and complex components. Isostatic pressing allows for the manufacturing of parts with complex geometries, ensuring precision and consistency. For example, isostatic pressing is used to produce complex-shaped components, such as structural elements and brackets for aircraft, contributing to the overall efficiency and safety of aerospace systems. Defense applications require specialized materials with precise characteristics. Isostatic pressing contributes to the production of components used in defense technologies, including radar systems and communication devices. Isostatic pressing is applied to shape components for military-grade electronic systems, where reliability and durability are critical for mission success. Thus, the expansion of the aerospace & defense sector drives the isostatic pressing market growth. Europe Isostatic Pressing Market Overview The automotive industry in Europe is experiencing rapid growth due to the increasing production of vehicles in countries such as Germany, France, and Italy. Per the European Commission, the automotive industry offers direct and indirect jobs to 13.8 million people in Europe, indicating 15.1% of total European employment. Per the statistics cited by the European Federation for Transport and Environment, the UK government committed to a net zero emissions target by 2050 and proposed a ban on the sales of all polluting vehicles by 2035. Several players are launching new EVs in Europe. For instance, in July 2023, Amazon announced its plan to deploy its first European vans from Rivian-the US-based EV maker-to Germany over the coming weeks as part of long-term plans to electrify its transportation network. As part of a 100,000-vehicle order made in 2019 from Rivian, nearly 300 electric vans will be launched in Munich, Berlin, and Dusseldorf. Similarly, in September 2022, MG4 launched a new innovative car in Europe. For the automotive industry, the use of HIP technology provides multiple benefits, such as improved material properties and performance, fatigue life in high-performance materials, increased mechanical properties of the parts, densified porosities, and eliminates probable internal defects, provided by techniques such as additive manufacturing, and gives greater statistical consistency to high-performance materials. Therefore, with the growing automotive sector, the demand for isostatic pressing is increasing in Europe. Europe Isostatic Pressing Market Revenue and Forecast to 2030 (US$ Million) Europe Isostatic Pressing Market Segmentation The Europe isostatic pressing market is categorized into offering, type, application, and country. Based on offering, the Europe isostatic pressing market is bifurcated into systems and services. The systems segment held a larger market share in 2022. In terms of type, the Europe isostatic pressing market is segmented into hot isostatic pressing (HIP), cold isostatic pressing (CIP), and warm isostatic pressing (WIP). The hot isostatic pressing (HIP) segment held the largest market share in 2022. Furthermore, the hot isostatic pressing (HIP) segment is sub segmented into large sized, medium sized, and small sized. Additionally, the cold isostatic pressing (CIP) segment is bifurcated into dry bag pressing and wet bag pressing. Based on application, the Europe isostatic pressing market is segmented into automotive, aerospace and defense, precision machine manufacturing, medical, energy and power, and others. The automotive segment held the largest market share in 2022. By country, the Europe isostatic pressing market is segmented into Germany, the UK, France, Italy, Russia, and the Rest of Europe. Germany dominated the Europe isostatic pressing market share in 2022. Bodycote Plc, EPSI Inc, Hiperbaric USA Corp, Kennametal Inc., Kobe Steel Ltd, and Nikkiso Co Ltd are some of the leading companies operating in the Europe isostatic pressing market.

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