Hydraulic Press Machine Market Will Reach $11.7 Billion by 2023 and Is Growing at a CAGR of 4.8% During 2018 - 2023

The global hydraulic press machine market is expected to register a CAGR of 4.8% during the forecast period and reach a value of $11,733.2 million by 2023. Hydraulic press machine refers to a mechanical device used in industrial manufacturing processes. These machines are widely used in several industries including automotive, military and ceramics to perform various tasks such as coining, blanking, stamping and embossing. Hydraulic press machines are also used in metal fabrication and metal extrusion processes. The level of force offered by hydraulic press machines cannot be duplicated with pneumatic and mechanical presses.

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Major factors propelling the growth of the global hydraulic press machine market include surge in demand for fabricated metal, increased automation in manufacturing sectors and operational advantages of hydraulic press machines over traditional mechanical press machines. Moreover, hydraulic press machines are made of stainless steel owing to which these presses are highly durable. Durability of these presses is one of the major reasons to which the increase their adoption by various press end-users can be attributed.

Hydraulic press machines are widely used in industries such as automotive, ceramics and abrasives, electrical and electronics, food and beverages and military. Of these, automotive industry led the market for hydraulic press machines globally, and is expected to continue its dominance during the forecast period as well, owing to the amplifying demand for fabricated metal. Uninterrupted demand for automobiles across the globe is one of the major factors propelling the adoption of hydraulic press machines in this industry. Hydraulic press machines offer advantages such as reduced labor cost, high production and adaptability in fabrication, which are likely to create positive outlook for this market.

Asia-Pacific garnered the largest revenue in the global hydraulic press machine market and it is anticipated to maintain its dominance over next few years. Increasing demand for automobiles, electronic goods, advancement in military sector are the major factors that are expected to spur growth in the market for hydraulic press machine market in Asia-Pacific. The increasing demand for fabricated metal in automotive industry is expected to create growth opportunities for the global hydraulic press machine market in near future. Metal fabrication refers to the process of transforming a piece of metal into end-use or intermediate product by forging, stamping, welding, forming, machining and several others processes. Hydraulic press machines are capable enough to perform all the tasks required for metal fabrication. Metal stamping is one of the important metal fabrication processes used in the automotive industry to manufacture automobile body parts while using hydraulic press machines.

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Some of the major companies operating in the global hydraulic press machine market include Beckwood Press, Greenerd, Hare Press and Schuler. Other prominent players operating in the global hydraulic press machine market are Amino Corporation, Asai Corporation, Betenbender Manufacturing, DAKE, DORST Technologies, ENERPAC, French Oil Mill Machinery, Fujian Haiyuan Automatic Equipments, GASBARRE PRODUCTS, Hefei Metalforming Machine Tools, Japan Automatic Machine, Jier Machine Tool, Jiangsu Yangli Group, Kojima Iron Works and Komatsu.

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