The global Metal Forming Tools Market size is projected to reach USD 48.67 billion by 2026, exhibiting a CAGR of 5.2% during the forecast period. This information is provided by Fortune Business Insights™ in a published report, titled, “Metal Forming Tools” Market Size, Share & Industry Analysis, By Technology (Computerized Numerical Control, Conventional), By Product (Rolling Mill Machines, Bending Machines, Hydraulic Presses, Mechanical Presses, Shearing Machines, Forging Machines, Wire Forming Machines, Others), By Application (Automotive, General Machinery, Precision Machinery, Transport Machinery, Others) and Regional Forecast, 2020-2026. The report further states that the market was valued at USD 32.29 billion in 2018. It is likely to gain impetus from the increasing demand for high-speed machinery for many process, such as die stamping, forging, and pressing.
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Fortune Business Insights™ lists out some of the most prominent companies present in the Metal Forming Tools Market. They are as follows:
- Hyundai WIA
- Amada Holdings Co., Ltd.
- Dalian Machine Tool Group
- Mitsubishi Corporation
- Machine Tools (India) Limited
- Komatsu Ltd.
- Conzzeta Management AG
- DMG MORI CO., LTD.
What Does This Report Contain?
- Emerging regional markets and niche segments.
- Vital changes in market dynamics.
- A backdrop analysis, including an evaluation of the parent market.
- Various insights, such as Metal Forming Tools Market trends, drivers, obstacles, opportunities, and challenges.
High Demand for Metal Fabrication Owing to Multiple Application Areas to Boost Growth
Various industries, such as consumer electronics, automotive, and aerospace, are demanding for fabricated metals. Metal fabrication possesses a wide range of applications. Right from office supplies, such as paper clips, to airplane parts, their usage is increasing day by day. It is one of the most vital factors fueling the Metal Forming Tools Market growth. In the emerging countries, namely, India and China, there is a rise in the number of industrial activities for the past few years. It is resulting in the growing demand for steel fabrication. Besides, steel fabrication is required for several applications, such as pipe and structure steel owing to the increasing number of construction activities. Furthermore, the governments of various countries are taking construction initiatives, which is affecting the construction market positively. It would also boost the market growth.
Automotive Segment to Exhibit Significant Growth Backed by Technological Advancements
In terms of application, the market is fragmented into transport machinery, automotive, precision engineering, general machinery, and others (electrical, energy, and others). Out of these, at present, the automotive segment held 43.8% Metal Forming Tools Market share in 2018. This growth is attributable to the rising technological advancements that consist of light-weight design solutions, smooth connectivity, and automated driving. There is also an increasing demand for resource-efficient driverless cars across the world.
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The general machinery segment is set to experience increasing popularity of CNC forming machine tools on account of the rising inclination of the industrial equipment manufactures towards high efficiency and accuracy. The precision engineering segment would witness good growth stoked by the rising demand for customized precision machinery. Lastly, the transport machinery segment is likely to showcase a considerable growth in the coming years owing to the launch of intelligent public transport.
Increasing Number of Construction Activities to Favor Growth in Asia Pacific
The market is geographically divided into Europe, the Middle East and Africa, Asia Pacific, Latin America, and North America. Amongst these regions, Asia Pacific metal forming machines market size was USD 18.71 billion in 2018. This growth is attributable to the rising number of construction activities in the region. Developing countries, such as India, Malaysia, China, and Indonesia, are the most significant emerging construction markets. As per a few sources, the construction industry in Indonesia is anticipated to grow more than 9 percent annually. It is likely to result in the rising number of non-residential and residential construction activities in the country.
North America, on the other hand, is expected to showcase a considerable growth owing to the huge demand for metal fabrication in the U.S. It is used in electronics and automotive applications. In Europe, the presence of industry giants, namely, Daimler AG, Volvo Group, Volkswagen Group, and BMW, would also accelerate growth. In the Middle East and Africa, rising expenditure in the oil and gas sector is projected to cause a high metal forming tools market growth.
MHMM to Acquire Siemen’s Stake in Primetals Technologies
October 2020: Siemens AG, a multinational conglomerate company and Mitsubishi-Hitachi Metals Machinery (MHMM), announced that the latter will acquire Siemen’s 49% stake in Primetals Technologies. The transaction is set to close by the early 2020 and is subject to customary conditions. Siemens will ensure a successful closing of the transaction by supporting the process. After the closing, MHMM will take control of Primetals. This acquisition would help in strengthening MHMM’s business in the near future.
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/metal-forming-machine-tools-market-101841
Table of Content
5. Global Metal Forming Tools Market Analysis, Insights and Forecast, 2015-2026
5.1.Key Findings / Summary
5.2.Market Sizing Estimations and Forecasts – By Technology (Value)
5.2.1.Computerized numerical control (CNC)
5.3.Market Sizing Estimations and Forecasts – By Product (Value)
5.3.1.Rolling Mill Machines
5.3.7.Wire Forming Machines
5.3.8.Others (Iron castings, steel casting, steel forging, and others)
5.4.Market Sizing Estimations and Forecasts – By Application (Value)
5.5.Market Analysis, Insights and Forecast – By Region (Value)
5.5.4.Middle East & Africa
6. North America Metal Forming Tools Market Analysis, Insights and Forecast, 2015-2026
6.1.Key Findings / Summary
6.2.Market Sizing Estimations and Forecasts – By Technology (Value)
6.2.1.Computerized numerical control (CNC)
6.3.Market Sizing Estimations and Forecasts – By Product (Value)
6.3.1.Rolling Mill Machines
6.3.7.Wire Forming Machines
6.3.8.Others (Iron castings, steel casting, steel forging, and others)
6.4.Market Sizing Estimations and Forecasts – By Application (Value)
6.5.Market Analysis, Insights and Forecast – By Country (Value)
7. Europe Metal Forming Tools Market Analysis, Insights and Forecast, 2015-2026
7.1.Key Findings / Summary
7.2.Market Sizing Estimations and Forecasts – By Technology (Value)
7.2.1.Computerized numerical control (CNC)
7.3.Market Sizing Estimations and Forecasts – By Product (Value)
7.3.1.Rolling Mill Machines
7.3.7.Wire Forming Machines
7.3.8.Others (Iron castings, steel casting, steel forging, and others)
7.4.Market Sizing Estimations and Forecasts – By Application (Value)
7.5.Market Analysis, Insights and Forecast – By Country (Value)
7.5.5.Rest of Europe
8.Asia Pacific Metal Forming Tools Market Analysis, Insights and Forecast, 2015-2026
8.1.Key Findings / Summary
8.2.Market Sizing Estimations and Forecasts – By Technology (Value)
8.2.1.Computerized numerical control (CNC)
8.3.Market Sizing Estimations and Forecasts – By Product (Value)
8.3.1.Rolling Mill Machines
8.3.7.Wire Forming Machines
8.3.8.Others (Iron castings, steel casting, steel forging, and others)
8.4.Market Sizing Estimations and Forecasts – By Application (Value)
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