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Press Machine Market to Expand with Signi CAGR during 2031 December 30, 2021
Press machines also known as tool setters, are used to change the shape of a work piece by the application of pressure. Press machines are widely used in industries such as automotive, food & beverage, and construction. Press machines have advanced features such as strength, sturdy design, and durability, which makes them poplar in end-use industries.
Key Drivers of the Global Press Machine Market
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Factors which are expected to drive the press machine market include rapid growth in the automotive sector and innovations in press machines. These machines are majorly used in the automotive industry for several applications, starting from stamping to producing automotive body parts. The automotive industry has registered notable growth, which will further propel the demand for press machines. This factor is expected to drive the overall market growth.
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Factors Restraining the Global Press Machine Market
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High initial cost along with high maintenance are major factors which may restrict small and medium scale industries from investing and this can gradually hamper the growth of the press machine market.
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Market in Asia Paci
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to Expand Rapidly
In terms of region, the global press machine market can be divided into North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
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North America country-level analysis features the U.S., Canada, and Rest of North
America. Analysis and forecast of the press machine market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the press machine market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America press machine market is segmented into Brazil, and Rest of South America.
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North America accounted for largest share of the global press machine market due to the presence of a large aerospace sector in the region. Aerospace is one of the largest and most powerful industries in the U.S., which supplies to military aircraft, missiles, space, general aviation, and commercial airliners, and which subsequently increases the demand for press machines. This factor is majorly contributing to the growth of the press machine market in North America.
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The press machine market in Asia Pacific is projected to expand rapidly during the forecast period due to the rising automotive industry in the region. Emerging countries such as India and China hold a major share of the automotive industry, which subsequently creates opportunities for press machine manufacturers to expand in the region. This is expected to contribute toward the growth of the press machine market in the Asia Pacific region.
Key Players Operating in the Global Market
Manufacturers of press machines are focusing on becoming more proficient and developing advanced products to enhance their competitive advantage and increase their market share globally. Manufacturers are investing more on R&D activities to develop cost effective products which can help to improve their profitability.
A few of the key players operating in the global press machine market are:
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Ajax-CECO
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Amada (India) Pvt. Ltd
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Anyang Forging Press (Group) Machinery Industry Co., LTD.
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BYSTRONIC
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Eagle Bending Machines
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Jayson Machines Impex
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Lazer Safe Pty. Ltd.
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Santec Exim Pvt Ltd.
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Sumitomo Heavy Industries, Ltd.
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TRUMPF
Global Press Machine Market: Research Scope
Global Press Machine Market, by Type
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H-frame
C-frame
Global Press Machine Market, by Mechanism
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Automatic
Semi-automatic
Global Press Machine Market, by Operation Mode
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Manual
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Mechanical
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Electric
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Hydraulic
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Pneumatic
Global Press Machine Market, by End-use Industry
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Automotive
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Military
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Electrical
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Electronics
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Ceramics and Abrasives
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Others (Food and Beverages, etc.)
Global Press Machine Market, by Distribution Channel
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Direct Sales
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Indirect Sales
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