Global Metal Forming Market Size By Technology Type (Computerized numerical control (CNC), Machines tools), By Product Type (Rolling mill machines, Bending machines), By Geographic Scope And Forecast

Metal Forming Market Size And Forecast

Metal Forming Market size is valued at USD 221.5 Billion in the year 2022 and it is expected to reach USD 374.2 Billion in 2030, growing at a CAGR of 6.5% from 2023 to 2030.

The market for metal forming equipment is anticipated to be driven by the rising demand for different forming machines, such as bending, shearing, and pressure machines. The market for metal-forming machine tools is projected to expand as a consequence of the rising need for high-speed machining from different processes, including pressing, forging, and die stamping. Over the past several years, the popularity of automated metal-forming equipment has increased due to manufacturers’ growing focus on increased productivity. Additionally, the supply of metal-forming tools is expanding as a consequence of the spike in demand for greater efficiency, productivity, flexibility, and connection.

Global Metal Forming Market Definition

The market for metal forming is the area of the economy where metal materials are shaped and transformed into a variety of desirable shapes and forms. Metal sheets, plates, bars, or coils can be shaped, sized, and have their qualities changed using mechanical pressure and force. There are many different methods and tools available on the market that are used in the industrial, aerospace, construction, and automotive sectors. The main purpose of the Metal Forming Market is to create parts or goods with precise dimensions and forms to satisfy the demands of various industries. Bent, rolled, stamped, forged, extruded, and deep drawn are a few examples of metal shaping methods. With the use of these procedures, intricate and accurate metal components for a wide variety of applications may be created.

Metal forming has a number of benefits. First of all, it makes it possible to create parts with superior mechanical qualities like great strength and hardness. It enables customization and design flexibility by giving metals the ability to be shaped in a variety of ways to create elaborate and complicated shapes. Metal forming procedures frequently decrease or eliminate the requirement for joining methods, improving component integrity, and lowering assembly costs. Additionally, by reducing waste output and maximizing material flow throughout the manufacturing process, metal shaping may improve material utilization.

The metal forming sector is key to production and supplies vital parts for a variety of goods in several industries. The market for metal forming includes a variety of methods. When metal is forged, compressive forces are used to hammer, squeeze, or roll the metal into shape. Through constant pressure applied between the rollers, rolling is used to decrease the thickness of metal sheets or manufacture lengthy metal sections. Metal may be bent by using external pressures to bend it into curved or angled forms. Metal is forced through a die during extrusion to produce intricate profiles with a constant cross-section.

Global Metal Forming Market Overview

The need for manufactured metals is increasing across a variety of industries, including aerospace, automotive, and consumer electronics. The vast range of uses for metal fabrication, including anything from paper clips to airplane components, is anticipated to further fuel industry expansion. Due to the increased industrial activity in developing nations like China and India, the steel fabrication industry has seen tremendous expansion over the last several years. The increase in building activity has led to an increase in the use of steel fabrication for a variety of applications, including pipe and structural steel.

The construction sector is being driven by government construction programs in many nations. In the metal forming sector, preventative maintenance is also becoming increasingly important. Predictive maintenance is being more widely used in the metal forming tools sector as manufacturers want earlier failure detection to cut downtime and machine maintenance costs. Efficiency in production in the industrial industry is anticipated to be a result of the growing trend toward cutting-edge digital technology. In addition, the fourth industrial revolution has a number of advantages, including better productivity, resource optimization, improved flexibility, increased collaborative working, and lower operating costs.

Setting up a manufacturing facility with the necessary capabilities to provide consumers with high-quality products that are specifically tailored to their needs requires a sizable initial investment. The metal forming process calls for the right tools, training, and working conditions. The efficiency of the shaping process can be increased with the use of automation, but this could come at an additional expense to the producer. According to the needs of automakers, the manufacturers may also be compelled to alter their manufacturing setup. Metal forming has greater running costs, including labor and process automation, and calls for a sizable initial investment. High initial and ongoing costs might be a significant obstacle for new players in the automobile metal forming business.

Global Metal Forming Market Segmentation Analysis

The Global Metal Forming Market is segmented on the basis of Technology Type, Product Type, and Geography.

Metal Forming Market, By Technology Type

• Computerized numerical control (CNC)
• Machines tools
• Conventional

Based on Technology Type, the market is segmented into Computerized numerical control (CNC), Machines tools, and Conventional. The computerized numerical control (CNC) segment holds a significant market share in the Metal Forming Market in 2022. The consumer durables, electronics, and automotive industries’ increased demand will lead to a growing requirement for machines with high-end technology, which is anticipated to lead to an increase in CNC segment revenue. Because of the growing use of Industry 4.0, metal additive manufacturing, and Internet of Things (IoT) technologies, manufacturers are embracing the notion of intelligent manufacturing. The largest market share for metal-forming machine tools is held by the category of conventional machines. This is explained by the rising demand for customized goods.

Metal Forming Market, By Product Type

• Rolling mill machines
• Bending machines
• Hydraulic presses
• Mechanical presses
• Shearing machines
• Forging machines
• Wire forming machines

Based on Product Type, the market is segmented into Rolling mill machines, Bending machines, Hydraulic presses, Mechanical presses, Shearing machines, Forging machines, and Wire forming machines. The Bending machines segment dominated the Metal Forming Market with the highest market share in 2022. The market for metal forming is anticipated to develop at the fastest rate in the near future thanks in large part to the bending machines segment. This is explained by the increase in demand from numerous sectors, including the automobile, building, and medical industries.

The expansion of the automotive and construction industries will likely increase demand for pipe and tube bending equipment, which is anticipated to benefit the market for metal forming machines. Furthermore, the demand for CNC bending machines, which offer high efficiency, lower operational costs, and enhanced process transparency, is predicted to grow, which will accelerate the growth of bending machines. The use of CNC bending machines reduces the need for fixtures and joints and speeds up production. Rolling mill machine sales are anticipated to increase as a consequence of the spike in demand from various research institutions, universities, and metal companies for metallurgical development and process improvement, respectively.

Metal Forming Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

On the basis of Geography, the Global Metal Forming Market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific region accounted for the highest market share in the Metal Forming Market in the year 2022. Asia Pacific’s growing building industry is fueling demand for metal forming tools. India, China, Malaysia, Indonesia, and other countries are developing building markets in this area.

The Asia Pacific building market is expanding, according to several sources. According to different secondary sources, the construction sector in Indonesia is predicted to rise by more than 9% yearly. This can be attributed to the nation’s rising residential and non-residential development activity. Furthermore, countries like Singapore are anticipated to expand their investment in the building. The rising costs for projects involving industrial buildings and public infrastructure make this likely to occur.

Key Players

The “Global Metal Forming Market ” study report will provide valuable insight with an emphasis on the global market including some of the major players of the industry are Mitsubishi Corporation, Conzzeta Management AG, ANDRITZ, TRUMPF, Komatsu Ltd., DMG MORI CO., LTD., Hyundai WIA, Amada Holdings Co., Ltd., Machine Tools Limited, and Dalian Machine Tool Group.

Our market analysis offers detailed information on major players wherein our analysts provide insight into the financial statements of all the major players, product portfolio, product benchmarking, and SWOT analysis. The competitive landscape section also includes market share analysis, key development strategies, recent developments, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In July 2022, Pennar Group, In its different business verticals, including railroads, tubes, steel, and ICD, The Pennar Group, a top supplier of value-added engineering goods and solutions, has received orders for a combined Rs 688 crores (USD 90 million).
• In October 2019, The Mitsubishi-Hitachi Metals Machinery (MHMM) intends to purchase Siemens AG’s 49% interest in Primetals Technologies, a company that offers metal manufacturers specialized plant equipment.

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