Rockville, MD , Sept. 12, 2024 (GLOBE NEWSWIRE) -- As stated in the recently updated report by Fact.MR, a market research and competitive intelligence provider, the global Power Press Machine Market is estimated to reach a valuation of US$ 5.92 billion in 2024 and it is further projected to advance at a CAGR of 5.4% between 2024 and 2034.
Power press machines are becoming more and more popular in several sectors because of their widespread uses and effective operation. These adaptable devices, which precisely and forcefully cut, shape, and mold metal, are now essential in industrial processes all over the world.
The use of power presses is increasing significantly due to the influence of the automobile, aerospace, and consumer electronics sectors. They are essential for optimizing production lines and cutting expenses because of their capacity of creating high-volume and reliable components with little waste.
Power presses are gaining prominence because of improvements in automation and control systems, which enable higher precision, quicker production rates, and less operator fatigue. By combining sensors with real-time monitoring features, output quality is increased and downtime is reduced.
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These machines have become a crucial tool as enterprises look for methods to increase production efficiency and preserve their competitiveness in international marketplaces. Because of their dependability, adaptability, and customizability, producers in several industries find power press machines to be a lucrative investment, which is driving up demand globally.
Key Takeaways from Market Study:
- The global power press machine market is evaluated to make a revenue of US$ 10.01 billion by 2034.
- The market in Mexico is forecasted to advance at a CAGR of 6.3% between 2024 and 2034, making the growth rate even higher than in the United States.
- The East Asia market is estimated to reach a valuation of US$ 2.32 billion in 2024.
- The market in Japan in East Asia is analyzed to hold a share of 26.7% of the region’s revenue in 2024.
- Among all the different types of power press machines available in the market, hydraulic power press machine sales are projected to expand at a CAGR of 5.3% from 2024 and 2034.
“High production speed and efficiency are consistently increasing the quality of final product making the market for power press machines grow,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Power Press Machine Market:
CorePlus; Mirka UK; Saint-Gobain Abrasives; Walter Surface Technologies Inc.; Shark Industries Ltd.; Grindwell Norton Ltd.; Ryobi Limited; 3M Company; Makita Corporation.
Sustainability Measures and Hydraulic Fluids Enhancing the Functioning of Power Press Machines:
These devices have undergone a revolution because of the integration of Industry 4.0 technologies, which have brought intelligent features such as remote diagnostics, real-time performance monitoring, and predictive maintenance. Manufacturers greatly minimize downtime and enhance manufacturing processes because of this connection.
More precise and energy-efficient servo-driven technology has made it possible to do more intricate shaping processes with less power. The benefits of both technologies are available in new hybrid designs that combine mechanical and hydraulic systems, thereby increasing performance and adaptability.
Long-standing industry issues are addressed by safety advancements, which have made power presses safer to operate, such as light curtains and sophisticated guarding systems. Growing sustainability measures are in line with the development of environmentally friendly hydraulic fluids and energy recovery technologies.
Manufacturers are now more flexible to swiftly adjust to changing production demands due to modular designs and fast die-change systems. These developments are increasing power presses' attractiveness and accessibility for a wider range of sectors, which is fueling demand and acceptance around the globe, along with improved user interfaces and simple controls.
Power Press Machine Industry News:
- AIDA Engineering Ltd. unveiled the new NSX 110-ton press in December 2021. It has a unitised frame and can operate at up to 300 SPM for high-volume output.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the power press machine market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on type (servo, mechanical, hydraulic, hybrid), capacity (below 100 tons, 101 tons to 200 tons, 201 tons to 500 tons, above 500 tons), end-use industry (automotive, aerospace/military, electrical & electronics, shipbuilding, general machinery, home appliances), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
Segmentation of Power Press Machine Market Research:
By Type :
- Servo
- Mechanical
- Hydraulic
- Hybrid
By Capacity :
- Below 100 Ton
- 101 Tons to 200 Tons
- 201 Tons to 500 Tons
- Above 500 Tons
By End-Use Industry :
- Automotive
- Aerospace/Military
- Ship Building
- General Machinery
- Home Appliances
- Commercial
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