Hydraulic Press Machines Market Grow With CAGR Of 4.7% | Focuses On Top Companies, Region And Opportunities
According to the report, the global hydraulic press machines market was pegged at $14.29 billion in 2017 and is estimated to garner $21.09 billion by 2025, growing at a CAGR of 4.7% from 2018 to 2025.
On the basis of application, the market is bifurcated into forging, molding, punching, stamping, laminating, and others. The molding segment held the largest share in 2017, garnering around one-fourth of the market. However, the forging segment is expected to manifest the fastest CAGR of 6.3% through 2025, owing to a rise in demand for fabricated metals in the aerospace & automotive industries.
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The forging application segment is expected to witness the fastest growth rate during the forecast period. Based on the industry verticals, the Automotive industry segment is expected to witness the highest CAGR of 5.7% during the forecast period.
Key Findings of the Hydraulic Press Machines Market:
o In 2017, the c-frame hydraulic press machine segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 4.7 % during the forecast period.
o The forging segment accounted for more than 20.0 % of the market share in 2017.
o Automotive industry contributed major share of 36.0% in global market during 2017.
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Asia-Pacific accounted for a major share of the global hydraulic press machines market in 2017 and it is expected to dominate the market in terms of revenue during the forecast period, owing to wide presence of automotive & manufacturing companies in China and Japan. The European region holds the second largest share in the global hydraulic press machines market.
The c-frame hydraulic press machines segment accounted for the maximum revenue share in 2017 and is expected to generate maximum revenue during the forecast period in the global hydraulic press machines industry, as they provide higher productivity and superior speed. Moreover, these machines reduce production cost & operational time and provide improved rigidity & strength of the machine as compared to traditional equipment.
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