The Hydraulic Press Machine Market is being driven by Surge in demand for fabricated metal in automotive sector
The Hydraulic Press Machine Market is expected to grow at a CAGR of 5.8% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 4375.2 million. Over the past three decades, there was a prevailing belief that the hydraulic press machine market would experience a downturn due to the rising preference for electric press machines. Traditionally, hydraulic pumps were perceived as power-hungry manufacturing instruments. However, advancements in technology and the integration of electric motors to power hydraulic pumps have led to enhanced production capacity and efficiency for hydraulic press machines. Electric motors, serving as the power source, drive hydraulic pumps to generate press tonnage. These electric motors predominantly operate on alternating current and function at voltage levels ranging from 120 V to 600 V.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
174 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.8% |
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Market growth 2024-2028 |
USD 4375.2 million |
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Market structure |
fragmentation |
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YoY growth 2023-2024(%) |
4.3 |
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Key countries |
China, Japan, Germany, US, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Hydraulic Press Machine market encompasses a range of industrial equipment designed for various metalworking processes, including trimming, bending, goods testing, repairs, flattening, assembling, and more. These machines often utilize a machine-driven pedal or hydraulic equivalent to generate compressive strength, essential for punching, blanking, moulding, clinching, forging, and press plate fabrication. Hydraulic presses come in various forms, such as Beckwood Press, and are integral to numerous industries. They operate based on Pascal's Law, ensuring consistent force application. Additionally, advanced technologies like 3D printing equipment are increasingly integrated into the market, expanding its capabilities and applications. Key processes like die and punch, shear stress management, and hydraulic cylinder production are all facilitated by these machines. Hydraulic press machines are indispensable tools in metalworking industries, offering versatility, efficiency, and precision.
The global hydraulic press machine market is a segment of the expansive industrial machinery market, according to Technavio. This market encompasses corporations involved in the production of industrial machinery and associated components, including presses, machine tools, compressors, pollution control equipment, and various metal fabrications. Technavio determines the size of the industrial machinery market by aggregating the revenues of machinery and component manufacturers operating in an industrial context. Key growth drivers for this market include the increasing industrial output in process and discrete industries, fueled by the burgeoning demand for energy, chemicals, petrochemicals, pulp and paper products, and processed food and beverages in developing economies.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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