The report "Global Metal Forming Tools Market, By Type (Bulk forming, Shear forming, others), By Application (Automotive, Manufacturing, Precision Engineering, Construction, Aerospace & Defense, Other) and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
Key Highlights:
- In April 2019, Makino Milling Machine Company has launched a new EDM machine whose main objective was rough machining using a forged stock. This machine tool category is much more flexible and durable than the old traditional tools used in the industries and is equipped with high automation technology. These new launches are very compatible and thus can be easily utilized and reduce the wage cost to minimum.
- In 2020, the MP 6500 series was launched by Doosan Machine tools ltd with an objective of machining large work pieces. It was basically used in molding processes. The demand for this machine tools is increasing considerably and is going to take a healthy pace during the forecast period.
Analyst View:
Increasing Demand for the Fabricated Metal Products
Increasing demand for the fabricated metal products in the global market is enhancing the demand of metal forming equipment. Fabricated metals have wide range of applications such as manufacturing of springs, boiler, cutlery, metal can, among others. This key factor is projected to drive the metal forming equipment market over the estimated period of time in the global metal forming market. There is a successive growth in the demand of metal tools and it is expected to continue in the same pattern in the global market in the near future.
Advance Technology
Advanced 3-D printing technologies which makes the manufacturing easy and less time consuming is estimated to fuel the demand of metal forming equipment in the global market in the coming future. Manufacturers are involved in improving the quality of metal forming equipment present in the market, this will enforce the consumer to replace their old metal forming equipment with the novel machines and this will accelerate the demand of metal forming equipment. Moreover, the automobile industry is continuously demanding for new and advanced metal forming equipment in the current rapid industrialization stage in the developed as well as developing economies across the globe.
Automation of Production Processes
Automation of production processes in large-scale manufacturing industries worldwide is expected to be a key factor driving the global metal forming machine tools market. Increase in investments in the industrial manufacturing sector has boosted the adoption of automated machine tools considerably in the past decade. Automation of manufacturing processes has improved the productivity of industries. Automation also helps organizing the overall workflow and making experts very efficient during emergencies.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Metal Forming Tools Market”, By Type (Bulk forming, Shear forming, others), By Application (Automotive, Manufacturing, Precision Engineering, Construction, Aerospace & Defense, Other) and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029
Key Market Insights from the report:
The global metal forming machine tools market accounted for US$ 33.8 billion in 2019 and is estimated to be US$ 55.1 billion by 2029 and is anticipated to register a CAGR of 5.10%. The market report has been segmented on the basis of type, application, and region.
- Depending on the type the global metal forming tools market is segmented into bulk formation, shear formation and others.
- Based on application, automotive industry is likely to dominate the global metal forming machine tools market during the forecast period. Metal forming machine tools are increasing being adopted for the manufacturing of metal components in the automotive industry. Rise in the production of automobiles in varied countries, including China, Japan, the U.S., Italy, and Germany has led to high demand for metal forming machine tools.
- By region, Asia-Pacific region is a developing region and about to lead the market in near future. North America region being the largest market in the manufacturing and supplying of these tools followed by Europe as the major key players are based from this region. The High investments across different infrastructural and technological parts have empowered makers of metal forming machine tools to provide high quality products to the end users and meet the high demand.
To know the upcoming trends and insights prevalent in this market, click the link below:
https://www.prophecymarketinsights.com/market_insight/Global-Metal-Forming-Tools-Market-4566
Competitive Landscape:
The prominent player operating in the global metal forming tools market includes Aisin Seiki, Fagor Arrasate, Magna International, Benteler, Amco Metal, Toyota Boshoku, JET, and Tennsmith.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
