PORTLAND, Oregon, April 25, 2019 /PRNewswire/ -- Increase in demand for high-force pressing applications and fabricated metal from various industries, surge in adoption of automated systems in manufacturing industries, and evolution of smart and sustainable production have propelled the growth of the global hydraulic press machines market.
Allied Market Research recently published a report, titled, "Hydraulic Press Machines Market by Type (C-Frame Hydraulic Press, H-Frame Hydraulic Press, Bench Frame Hydraulic Press, 4-Column Hydraulic Press, and Others), Application (Forging, Molding, Punching, Stamping, Laminating, and Others), and Industry Vertical (Aerospace, Manufacturing, Automotive, Metals, Ceramic, and Others): Global Opportunity Analysis and Industry Forecast, 2018-2025". According to the report, the global hydraulic press machines market accounted for $14.29 billion in 2017 and is projected to garner $21.09 billion by 2025, registering a CAGR of 4.7% during from 2018 to 2025.
Rise in demand for high-force pressing application in several industries, surge in adoption of automated systems in manufacturing industries, increase in demand for fabricated metal from the automated industries, and technical & economic advantages including reduced weight & production cost and improved rigidity compared to traditional machines are the major factors that drive of the global hydraulic press machines market. However, the development of 3D printing as an alternative to hydraulic press machines and uncertainty in the Chinese economy hamper market growth. On the contrary, the evolution of smart and sustainable manufacturing and surge in adoption of hydraulic press in plastic industries are expected to create lucrative opportunities in the coming years.
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C-frame segment dominates the market
The C-frame segment held the largest share in 2017, contributing nearly two-fifths of the total market, as these machines provide higher productivity with superior speed. However, the H-frame segment is expected to manifest the fastest CAGR of 7.3% during the forecast period, owing to its benefits such as reduction in production cost, operational time, and improved rigidity and strength. The report includes analysis of other segments such as bench frame, 4-post hydraulic press, and others.
Forging segment to manifest fastest growth by 2025
The forging segment is expected to register the fastest CAGR of 6.3% during the study period, owing to increase in demand for fabricated metals in automotive & aerospace industries. However, the molding segment dominated the market in terms of revenue in 2017, contributing about one-fourth of the market share. The report includes an analysis of other segments such as punching, stamping, laminating, and others.
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Asia-Pacific region held the largest share
The market in the Asia-Pacific region held the largest share in 2017, contributing more than two-fifths of the market, owing to wide presence of automotive & manufacturing companies in China and Japan. However, the market in other regions such as North America, Europe, and LAMEA are expected to witness gradual growth during the forecast period.
Major market players
The report includes analysis of the major market players such as Beckwood Press, Greenerd Press & Machine Co., Betenbender Manufacturing, Inc., Schuler Group, Enerpac (Actuant Corporation), DORST Technologies GmbH & Co. KG, Japan Automatic Machine Co., Ltd., Fujian Haiyuan Automatic Equipments, French Oil Mill Machinery, and P.J.Hare Limited.
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The Asia-Pacific region was estimated to be the largest market in terms of revenue owing to higher usage of hydraulic pumps in the manufacturing industry. The region is expected to grow at the highest CAGR of 5.5% during the forecast period on account of increase in utilization of hydraulic pumps in manufacturing industry, construction equipment and in automobiles. LAMEA is forecast to grow at a CAGR of 4.8% due to increasing application of piston pumps in oil extraction and mining activities.
Global Hydraulic Cylinders Market Expected to reach $16,333.1 million by 2025
The global hydraulic cylinders market is projected to witness significant growth in the coming years, owing to increase in adoption of material handling equipment in countries such as China, Brazil, India and other South Asian countries. Nations such as the U.S., Germany, and Japan, have started using hydraulic cylinders owing to surge in industrialization. Furthermore, the double acting hydraulic cylinders market is expected to experience rapid growth in the emerging economies, owing to rise in the construction equipment industries and agriculture sector.
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SOURCE Allied Market Research