Shrink Fit Machine

Shrink Fit Machine

A shrink-fit machine is a device that is utilized to join two parts by applying heat and pressure. The machine heats up the inner component or the male part which is then fitted into the outer or female component. When the heated part cools, it becomes smaller, resulting in the components bonding together in a very secure and accurate manner. Due to the tightness of the bond created, no additional bonding agent or physical force is needed, making it an excellent option for the assembly of complex or high-performance components. Shrink-fit machines are commonly utilized in production processes to manufacture high-grade, dependable, and long-lasting products.

The Shrink Fit Machine Market is expected to grow at a steady rate of around 6.50% owing to the increasing vehicle production globally. The global automotive has seen a tremendous rise in vehicle production in the last couple of years, including ICE engines, and hybrid, or electric vehicles. The recent era is witnessing a sharp growth in urban life, bringing the need for high mobility and drastic changes in the transportation system. Moreover, with the increasing demand for vehicles, automobile manufacturers are focusing to develop lightweight vehicles as producers look for ways to enhance their vehicles' fuel efficiency, lightweight substances like aluminum and carbon fiber have become more popular in the industry. The use of those substances urges precise machining and fitting techniques and is in which shrink-fit machines are available in handy. They help to ensure a tight and dependable fit among components within the car. For instance, according to the report published by Organisation Internationale des Constructeurs d'Automobiles (OICA), an international organization that supports the interests of vehicle manufacturers, assemblers, and importers reported the total number of vehicles produced in the year 2021 was 80.20 million units which increased to 85.01 million units in 2022. As the demand for vehicles continues to rise in the region, manufacturers are looking to improve their production efficiency, and therefore, the demand for shrink-fit machines evolve continuously in the coming years.

• Based on type, the market is categorized into Less than 10KW, 10-20KW, and more than 20KW. The more than 20KW category has dominated the market in the historic year and is expected to see the same trend in the forecast period. The major factors that push the segment for high demand are the growing various industries such as aerospace, automotive, and manufacturing where heavy-duty workloads have been carried out and the segment possesses high power and ability to handle heavy work. Moreover, the use of greater than 20kw shrink-fit machines lets in for quicker heating and cooling times, resulting in better throughput rates. This is vital for high-volume production runs in industries along with automotive and manufacturing. The usage of excessive-power machines also ensures a high level of accuracy and repeatability in the production system. For instance, in December 2020, according to the report published by Indian Brand Equity Foundation, the Indian aerospace & defense (A&D) market is projected to reach ~USD 70 billion by 2030, driven by the burgeoning demand for advanced infrastructure and government thrust. Therefore, the growing aerospace and defense industry continued the domination of more than 20KW segment.
• Based on application, the market is segmented into the aerospace industry, automotive, general metal processing, and medical Industries. Among these segments, the automotive industry has the largest market share in the historic period and is expected to show the same trend in the forecast period as the automotive industry is a significant consumer of shrink-fit machines, and it is the largest end-user of this technology. Shrink fit machines are used in various applications in the automotive industry, such as the manufacturing of engine blocks, suspension components, brake systems, transmission parts, and exhaust systems. The demand for shrink-fit machines in the automotive industry is primarily driven by the increasing demand for high-performance and lightweight vehicles. Moreover, the burgeoning adoption of electric vehicles worldwide due to the volatile price of fuel and the various government around the world’s stringent regulations to control pollution. The production of EVs requires specialized parts that are lightweight and have high strength. Shrink-fit machines offer a cost-effective and efficient way to manufacture these parts. For instance, in 2021, according to the international energy agency(IEA), Consumers spent USD 120 billion on electric car purchases in 2020, a 50% increase from 2019, which breaks down to a 41% increase in sales and a 6% rise in average prices. Moreover, in February 2023, according to a report published by the U.S. Bureau of Labor Statistics, the consumer demand for EVs has risen significantly from 22000 EVs on the road in 2011 to a little over 2 million in a decade till 2021. Therefore, the growing automotive industry plays an important role in the shrink-fit market.
• For a better understanding of the market adoption of the shrink fit machine industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Mexico, and Rest of North America), Europe (Germany, U.K., France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific), Rest of World. The Asia Pacific is projected to be the fastest-growing region in the forecast period due to the increasing adoption of Industry 4.0 practices. One of the primary reasons why the Asia-Pacific region is experiencing fast growth in the shrink-fit machine market is its manufacturing competencies, particularly in the automotive and aerospace industries. These industries are among the most significant users of shrink-fit machines, given their need for high-precision metal parts, which are made possible using these machines. Defense and aerospace continue to be strong pillars for India and key government structures along with Make in India to succeed. government regulations have focused on the implementation of superior technologies in the defense sector, as a result improving the capacity of domestic manufacturing. The Defence Ministry has set a goal of 70% self-reliance in weaponry by 2027, creating large possibilities for players inside the industry. The Indian government has implemented several policies to promote self-reliance in defense and aerospace manufacturing under the Aatmanirbhar Bharat Scheme. For instance, 74% FDI in defense manufacturing, an ‘Import embargo’ on 101 military items, and Defence Production and Export Promotion Policy 2020 cater to the demand for the shrink-fit-machine market in coming years.
• Some of the major players operating in the market include Haimer GmbH; BILZ WERKZEUGFABRIK GmbH & Co. KG; Guhring, Inc.; Diebold; MST Corporation; Zoller; Lyndex-Nikken; Falcon Toolings; Kelch GmbH; D'ANDREA S.p.A.