The Global Electric Press Machine Market Should Be Assessed
USA, Rockville, MD, June 14, 2022 (GLOBE NEWSWIRE) — According to the recently released report by Fact.MR, a market research and competitive intelligence provider, the global electric press market is valued at 5, US$3 billion in 2022 and is expected to grow at an impressive CAGR of 5.4% over the forecast period (2022 to 2032).
The presses are widely used in the electrical and electronics industry, automotive, aerospace and defense, and other small materials manufacturing or forming industries. Observing the overall market trends and the need for safe, clean and fast deliverables, the respective industry stakeholders are realizing the need for modern equipment and machinery such as advanced presses in place of old traditional models .
The use of advanced press machinery results in optimal results and energy efficiency in manufacturing processes, in addition to savings in terms of time and overheads, and a reduction in inventory and waste generation.
A remarkable opportunity arises in the electrical and electronics manufacturing industry. The presses are used to manufacture small chips for data storage as well as packages and casings for large electronic devices. The electrical and electronics industry is accelerating at a rapid pace, due to which the demand for presses in the industry is also increasing in parallel. Presses such as hydraulic presses are widely used to assemble parts of the shaping panels of microwave refrigerators, washing machines and dishwashers.
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Electric presses, which have become increasingly popular as a product to provide optimal operation in terms of punching, cutting and pressing in several industries, are expected to gain traction in the market and push sales beyond $9 billion by the end of 2032. .
Key insights from market research
- Hydraulic presses are expected to capture a 30% market share by the end of 2032
- Demand for machinery over 500 tons is expected to grow at a CAGR of 3.3% during the forecast period 2022-2032
- Automotive, as an end-use industry, is expected to grow at a CAGR of 6% and capture a market share of around 55% by 2032.
- Servo (electric) machines are expected to reach a market value of approximately US$3 billion by 2032
- Based on the region, the demand for electric presses is expected to increase at CAGRs of 5.6% and 4.9% in Asia Pacific and Europe, respectively, during the forecast period.
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Companies and brands in end-use industries such as automotive, electrical and electronics, and others are increasingly using power presses for their various needs. Mechanical presses with a capacity of 201 to 500 tons are in increasing demand.
Companies develop long-term strategic partnerships with mechanical press manufacturers to ensure technology is up to date in their production facilities.
Market players are enhancing their brand presence through collaborative activities with end-use industry stakeholders. Market leaders have captured significant share through robust distribution networks.
Automotive and electronics manufacturers have developed constructive partnerships with mechanical press manufacturers to ensure consistency of demand and support for installation and maintenance.
Key segments of the mechanical presses industry research
Press the power Machinery Market by Machine Type:
- Servo electric presses (electric)
- Mechanical (electric) presses
- Hydraulic presses
- Hybrid press machines
Electric Press Machine Market By Ability :
- Press machines with power below 100 tons
- Electric presses from 101 to 200 tons
- Electric presses from 201 to 500 tons
- Electric presses over 500 tons
Electric Press Machine Market by End Use Industry :
- Aeronautics / Military
- Electrical and Electronic
- General machinery
- Household appliances
Electric Press Machine Market By Region :
- North America
- Latin America
- Asia Pacific
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More valuable information in offer
Fact.MR, in its new offering, presents an unbiased analysis of the global mechanical presses market, showcasing historical market data (2017-2021) and forecast statistics for the period 2022-2032.
The study reveals essential insights based on segments such as machine type [servo (electric), mechanical (electric), hydraulic, hybrid, others]ability [below 100 tons, 101-200 tons, 201-500 tons, above 500 tons]and end-use industry [automotive, aerospace / military, electrical & electronics, shipbuilding, general machinery, home appliances, others]in the main regions of the world (North America, South America, Europe, Asia-Pacific, Middle East and Africa).
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