Press release
Steady Growth Ahead: Electric Presses Market to Grow at 4.33% CAGR, Reaching USD 14.20 Billion by 2034
The electric presses market has experienced significant growth in recent years, driven by advancements in automation, energy efficiency, and precision manufacturing. Electric presses, which utilize electric motors to generate force for pressing, stamping, or forming materials, have become essential in industries such as automotive, aerospace, electronics, and metalworking. Unlike traditional hydraulic or pneumatic presses, electric presses offer superior control, reduced energy consumption, and lower maintenance costs, making them a preferred choice for modern manufacturing processes. This analysis explores the current state of the electric presses market, key drivers, challenges, and future trends, providing a comprehensive overview of its dynamics.
Market Overview
The global electric presses market was valued at approximately USD 9.29 billion in 2024. It is expected to grow from USD 9.69 billion in 2025 to USD 14.20 billion by 2034, representing a compound annual growth rate (CAGR) of about 4.33% over the forecast period (2025-2034). This growth is driven by increasing demand for energy-efficient manufacturing equipment and the shift toward automation across various industries. This growth is attributed to the increasing demand for high-precision manufacturing, particularly in industries requiring consistent and repeatable results, such as electronics and automotive component production. Electric presses are available in various types, including servo presses, mechanical presses, and hybrid models, each catering to specific industrial needs.
The Asia-Pacific region dominates the market, accounting for over 40% of the global share, driven by rapid industrialization in countries like China, Japan, and South Korea. North America and Europe follow, with significant contributions from the automotive and aerospace sectors. The rise of Industry 4.0 and smart manufacturing has further accelerated the adoption of electric presses, as they integrate seamlessly with digital control systems and IoT-enabled production lines.
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Key Drivers
Several factors are propelling the growth of the electric presses market:
Energy Efficiency and Sustainability: Electric presses consume significantly less energy compared to hydraulic presses, aligning with global sustainability goals. They produce less noise and eliminate the need for hydraulic fluids, reducing environmental impact and operational costs. As industries face pressure to meet carbon reduction targets, electric presses are increasingly favored.
Precision and Control: Electric servo presses, in particular, offer unparalleled precision in force application and motion control. This is critical for industries like electronics, where delicate components require exact specifications. The ability to program and adjust parameters in real-time enhances production flexibility and quality.
Automation and Industry 4.0: The integration of electric presses with automated systems and smart manufacturing technologies has boosted their demand. These presses can be equipped with sensors and software for real-time monitoring, predictive maintenance, and data analytics, improving efficiency and reducing downtime.
Growing Automotive and Electronics Sectors: The automotive industry, particularly electric vehicle (EV) manufacturing, relies heavily on electric presses for forming battery components, chassis parts, and lightweight materials. Similarly, the electronics sector uses these presses for micro-component assembly, driving market growth.
Challenges
Despite their advantages, the electric presses market faces several challenges:
High Initial Costs: Electric presses, especially servo-based models, have higher upfront costs compared to hydraulic or pneumatic alternatives. This can deter small and medium-sized enterprises (SMEs) from adopting them, particularly in cost-sensitive markets.
Technical Complexity: The advanced technology in electric presses requires skilled operators and technicians for setup, programming, and maintenance. A shortage of trained personnel can limit adoption in some regions.
Competition from Hydraulic Presses: While electric presses offer superior precision and efficiency, hydraulic presses remain dominant in heavy-duty applications requiring high force. This limits the market for electric presses in certain industrial segments.
Economic Uncertainties: Global economic fluctuations, supply chain disruptions, and geopolitical tensions can impact investment in new machinery, affecting market growth. The high cost of raw materials and components also poses a challenge.
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Market Segmentation
The electric presses market can be segmented based on type, application, and end-user industry:
By Type: Servo presses dominate due to their precision and versatility, followed by mechanical and hybrid presses. Servo presses are expected to grow at the fastest rate due to their compatibility with smart manufacturing.
By Application: Common applications include stamping, forming, punching, and assembly. Forming and stamping are the largest segments, driven by automotive and metalworking industries.
By End-User Industry: Automotive holds the largest share, followed by electronics, aerospace, and general manufacturing. The rise of EVs has significantly boosted demand in the automotive sector.
Key Companies in the Electric Presses Market Include
Friedrich B. S. Schmitt
JIER MachineTool Group
AIDA Engineering
Yamazaki Mazak Corporation
Chappell Engineering
AMADA Co Ltd
KUKA AG
Sankyo Oilless Industry
Taiyo Koko
Nidec Corporation
Siemens AG
Bosch Rexroth AG
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Future Trends
The electric presses market is poised for transformation, with several trends shaping its future:
Integration with AI and IoT: The adoption of artificial intelligence (AI) and the Internet of Things (IoT) will enhance the capabilities of electric presses. AI-driven predictive maintenance and IoT-enabled real-time monitoring will improve operational efficiency and reduce costs.
Lightweight Material Processing: As industries shift toward lightweight materials like aluminum and composites, electric presses are being designed to handle these materials with precision, catering to the needs of EVs and aerospace applications.
Customization and Modularity: Manufacturers are focusing on modular designs that allow for customization based on specific industry requirements. This trend is expected to attract SMEs and niche markets.
Expansion in Emerging Markets: Rapid industrialization in regions like Southeast Asia, Latin America, and Africa presents new growth opportunities. Governments in these regions are promoting manufacturing through incentives, boosting demand for electric presses.
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