Metal Forming Tools Market to Exhibit 5.2% CAGR Till 2026; Rising Demand for Novel Digital Technologies to Boost Growth

The global metal forming tools market size is projected to reach USD 48.67 billion by 2026. The market is likely to gain momentum from the growing need for high connectivity, flexibility, productivity, and efficiency. Fortune Business Insights™ published this information in a recent report, titled, “Metal Forming Tools Market Size, Share & Industry Analysis, By Technology (Computerized Numerical Control, Conventional), By Product (Rolling Mill Machines, Bending Machines, Hydraulic Presses, Mechanical Presses, Shearing Machines, Forging Machines, Wire Forming Machines, Others), By Application (Automotive, General Machinery, Precision Machinery, Transport Machinery, Others) and Regional Forecast, 2019-2026.” The report further states that the market was worth USD 32.29 billion in 2018. However, it is set to exhibit a CAGR of 5.2% during the forecast period between 2019 to 2026.

High Predictive Maintenance Penetration to Drive Growth of Market

In the manufacturing sector, there is a rapid inclination towards innovative digital technologies owing to their ability to provide efficient production. The fourth industrial revolution also offers numerous advantages, namely, reduced operational cost, increased collaborative working, enhanced flexibility, resource optimization, and improved productivity. Besides, the importance of predicative maintenance is increasing day by day in the market. There is a high demand from the manufacturers to examine the failures before they occur. It would aid in decreasing machine maintenance costs and downtime. Lastly, the rising demand for cloud-based inventory managed solutions would result in the metal forming machine tools market growth during the forthcoming years.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/metal-forming-tools-market-101841

Key Segments of Metal Forming Machines Market

• Technology: The market is divided into conventional and computerized numerical control (CNC). Out of these, the CNC segment is set to acquire high metal forming machine tools market revenue in the coming years owing to an increasing need for high-end technology-equipped machines from numerous industries, such as automobiles, electronics, and consumer durables. Because of the rising penetration of industry 4.0 solutions, metal additive manufacturing, and Internet of Things (IoT), manufacturers are adopting the concept of intelligent manufacturing. Apart from that, the huge demand for mass production processes would also drive this segment. At present, the conventional segment, on the other hand, holds a significant market share stoked by the rising demand for customized products.


• Product: The market is grouped into forging machines, bending machines, mechanical presses, rolling mill machines, wire forming machines, shearing machines, hydraulic presses, and others (iron castings, steel casting, steel forging, and others). The bending machines segment would showcase the highest growth owing to the increasing demand from the medical, construction, and automotive industries. Besides, the rapid expansion of the construction and automotive industry is resulting in a surge in demand for pipe and tube bending machines. The bending machines segment would also grow steadily, owing to the rising demand for CNC bending machines. This is likely to occur because of an urgent need for high transparency of the process, reduced operational cost, and more efficiency. These machines have the capability of reducing the requirement for joints and fixtures. They also save labor time. The rolling mill machines segment is likely to grow considerably owing to high demand from several universities and research facilities for metallurgical developments. Also, they are needed by the metal producers for process enhancement. The hydraulic presses segment would exhibit growth backed by its increasing usage in process, namely, embossing, stamping, coining, and blanking. The mechanical presses segment is expected to grow significantly stoked by their high penetration for sheet metal forming. Shearing machines, on the other hand, are used for cutting various sheet metals and alloys. It would aid in the growth of this segment. Wire forming and forging machines segment are also contributing to the growth of machine tools market revenue.


• Application: The market is segregated into transport machinery, automotive, precision engineering, general machinery, and others (energy, electrical, and others). The automotive segment had held 43.8% metal forming machine tools market share in 2018. This growth is attributable to the introduction of various technological advancements, such as light-weight design solutions, automated connectivity, and driving. The general machinery segment is likely to exhibit a steady growth owing to the rising shift of the industrial equipment manufacturers towards high efficiency and accuracy. The precision engineering segment would showcase growth owing to the ever-increasing demand for customized precision machinery. Lastly, the transport machinery segment is set to exhibit high growth on account of the advancements in technology and introduction to intelligent public transport.


• Region: The market is fragmented into Asia Pacific, the Middle East and Africa, Europe, Latin America, and North America. The metal forming tools market size in Asia Pacific was USD 18.71 billion in 2018. This growth is attributable to the rising number of construction activities in countries, such as Malaysia, Indonesia, India, and China. As per numerous sources, Singapore is projected to upsurge its investment in construction to USD 25.6 billion by 2023. This would further increase the expenditure for constructing industrial buildings and public infrastructure projects. In North America, the U.S. is experiencing a high demand for metal fabrication for usage in electronics and automotive applications. Europe, on the other hand, houses numerous automotive manufacturers, namely, Volkswagen, BMW, Volvo, and others. It would drive market growth.

Key Players Aim to Broaden Product Portfolio Through Mergers & Acquisitions

Reputed organizations present in the market are launching innovative products and involving in mergers and acquisitions to increase their product portfolio and keep up with the latest metal forming machine tools market trends. Many manufacturers are also aiming to focus on research and development activities to provide consumers with Industry 4.0 compliant products.

Fortune Business Insights™ lists out some of the most renowned companies present in the metal forming tools market. They are as follows:

• Machine Tools (India) Limited


• Conzzeta Management AG


• Hyundai WIA


• ANDRITZ


• Dalian Machine Tool Group


• TRUMPF


• Amada Holdings Co., Ltd.


• Komatsu Ltd.


• DMG MORI CO., LTD.


• Mitsubishi Corporation


• Other key market players

Amada Signs Share Transfer Agreement with Namura Shipbuilding

• Amada Co. Ltd. Declared that it has completed a share transfer agreement with Namura Shipbuilding Co., Ltd., a shipbuilding and repairing company, based in Japan. It would help Amada in acquiring the latter’s shares of Orii and Mec Corporation to make the company a wholly-owned subsidiary. Namura previously held it. It would enable Amada to provide automated solutions for processing lines of automotive parts.

The metal forming tools market is segmented in the following manner: