Press release
Global Metal Forming Machine Tools Market to be Driven by Automation of Production Processes in the Forecast Period of 2023-2028
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The key highlights of the report include:
Market Overview (2018-2028):
• Forecast CAGR (2023-2028): 5.2%
In the coming years, especially in the assembly segment, the market development of the metal shaping machine process is likely to gain. It can be categorised into two types, i.e. Forming Bulk and Forming Papers. The fundamental difference between the two is that bulk formation is achieved in large operations and by cutting sheets while sheet forming is performed. In the production of metal forming machine tools, the need to manufacture high precision products acts as a major factor. In the present scenario, CNC metal forming goods produce a huge market.
Metal Forming Machine Tools Industry Definition and Major Segments
The required tools used in the automotive and automobile industry are metal forming machine tools. Without any loss of raw materials, metal forming can be described as the deformation of the metal to any desired shape. Basically, it involves stamping devices, machines for pressing, bending and shearing.
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On the basis of End-use, the industry is divided into:
• Automotive
• Transportation
• Industrial Machinery
• Construction
• Precision Engineering
• Others
On the basis of Region, the industry is divided into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
Metal Forming Machine Tools Market Trends
A main factor driving the global demand for metal forming machine tools is expected to be the automation of production processes in large-scale manufacturing industries worldwide. Increased investment in the global manufacturing industry has greatly increased the use of automated machine tools in the past decade. Manufacturing process automation has increased the efficiency of sectors. Automation also helps to coordinate the general workflow and to make experts more successful in emergencies. In the near future, increased use of non-metals such as carbon fibre, plastic goods, etc., is expected to hamper the growth of the global market for metal forming machine tools. The metal forming machine tools market is possibly dominated by Asia Pacific, followed by EMEA (Europe, Middle East & Africa) and North America. The metal forming machine tools market in Asia Pacific is driven by economic improvements and rapid industrial development in developing economies such as China and India.
Key Market Players
The major players in the market are Amada Co. Ltd., ANDRITZ, Mitsubishi Corporation, TRUMPF Group, DMG Mori Seiki Aktiengesellschaft, Schuler AG and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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