A press machine, also known as tool setter, is a tool used to change the shape of a work piece by the application of compressive power. Press machines are widely used in different industries such as automotive, food & beverage, and construction. These machines have advanced features such as perfect strength, sturdy design, low maintenance, durability, and are lightweight, making the press machines highly attractive worldwide. Associations such as CECIMO, Occupational Safety and Health Administration (OSHA), and others check the industry standards and quality, this expected to increase the market attentiveness of the press machines across different application such as automotive, military, electrical and electronics, ceramic and abrasives, food and beverages, and others.
Factors which are expected to drive the press machine market include rapid growth in the automotive sector which is anticipated to drive the demand for press machines. Rapid innovation in press machines is also anticipated to drive the global press machine market worldwide. Moreover, manufacturers of press machines are focused on adoption of new and advanced technology and continued product development. Other than the automotive sector, the food and beverages industry is likely to offer huge opportunity to the press machine market during the forecast period. All these factors are expected to drive the overall market growth. However, the installation cost of press machines is very high, and this factor is a restraint to the press machine market.
The global press machine market can be segmented in terms of type, operation mode, power source, application, end-use industry, distribution channel, and geography. Based on type, the press machine market can be segmented into H-frame, C-frame, and others. Based on operation mode, the press machine market is segmented into automatic and semi-automatic. In term of power source, the press machine market is classified into mechanical, hydraulic, pneumatic, and others. Based on application, the press machine market is segmented into stamping, forging, compression molding, embossing, lamination, trimming, powder compacting, and others. In term of end-use industry, the press machine market is classified into automotive, military, electrical and electronics, ceramic and abrasives, food and beverages, and others. Based on distribution channel, the press machine market is segmented into online distribution channel and offline distribution channel. The offline distribution channel segment is expected to be the most attractive during the forecast period.
Geographically, the global press machine market can be classified into South America (Brazil), Asia Pacific (India, China, and Japan), Middle East & Africa (GCC and South Africa), North America (the U.S. and Canada), and Europe (the U.K., France, and Germany). The market n Asia Pacific is expected to be the most attractive during the forecast period as the adoption of press machines in different industries such as automotive, ceramics and abrasives, electrical and electronics, food and beverages, and military has increased over the years. This is expected to accelerate the market growth in the Asia Pacific region during the forecast period. The markets in North America and Europe are expected to expand at a healthy growth rate. The Middle East & Africa market is anticipated to see steady growth during the forecast period.
Major players operating in the global press machine market are AMADA, TRUMPF, Anyang Forging Press Machinery Industry, Ajax CECO, Bystronic, Eagle Bending Machines, Lazer Safe Pty Ltd, Sumitomo Heavy Industries, Imac Italia, Santec Group, Accurl, Jayson Machines, Komatsu, HACO, LVD Company, ERIE Press Systems, Hindustan Hydraulics, and others. The degree of competition between market players in the press machine market is very high. In order to increase competitive advantage in the industry, companies are focusing on technology adoption and enhancement in their offerings. This strategy is expected to help them remain competitive during the forecast period
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