Global Metal Forming Machine Tools Market Set For 5% Growth, Reaching $72.46 Billion By 2028

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What Does the Metal Forming Machine Tools Global Market Report 2024 Reveal?
The global metal forming machine tools market has seen steady growth in recent years and is anticipated to grow from $56.79 billion in 2023 to $59.55 billion in 2024, indicating a compound annual growth rate CAGR of 4.9%. This substantial growth in the historic period can be attributed to several pivotal factors, including increasing demand across various industries, heightened need for precise manufacturing, escalating industrial activities in developing economies, a surge in construction activities, coupled with a rise in efficiency, productivity, and flexibility.

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How Will the Metal Forming Machine Tools Market Evolve in the Coming Years?
The market size for metal forming machine tools is projected to see robust growth, expected to reach $72.46 billion by 2028 with a compound annual growth rate CAGR of 5%. The rapid growth predicted for the forecast period is due to growing investment in research and development, advancements in material science, increasing demand for high precision components, a rising shift towards advanced digital technologies, and the mounting acceptance of automation and robotics. Such influences are expected to dictate major trends for the forecast period, including the integration of robotics and automation technologies, the adoption of digitalization and smart technologies, demand for lightweight materials, progress in software integration, advancements in hybrid technologies.

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What Are The Key Drivers Behind The Growth Of The Metal Forming Machine Tools Market?
Soaring construction activities are expected to propel the growth of the metal-forming machine tools market forward. Construction activities entail building, modifying, repairing, and demolishing structures and infrastructure for both residential and non-residential projects. Such activities have seen a significant rise, mainly due to increased urbanization, demand for housing, and the necessity for commercial spaces, thereby leading construction projects that accommodate this shift. Metal-forming machine tools provide customizable solutions for various construction requirements, enhancing metal strength and endurance. Their automation increases efficiency, production, and enables timely and cost-effective project completion.

Who Are The Major Players In The Metal Forming Machine Tools Market?
Notable companies operating in the metal forming machine tools market include TRUMPF Inc., Amada Holdings Co. Ltd., Schuler AG, Mitsubishi Steel Mfg Co. Ltd, Fagor Arrasate, Empire Industries Limited, LVD Group, Macrodyne Technologies Inc., Haeusler AG, Accurpress, Schröder Group, Hammer Presses, Krrass, Cincinnati Machine, Bystronic Group, KNUTH Werkzeugmaschinen GmbH, Röcher GmbH & Co. KG, Electro Mechanical Solutions LLC EMS, Anhui Donghai Machine Tool Co. Ltd, Jadestone Machine Tool Co. Ltd.

What Are The Trending Developments in The Metal Forming Machine Tools Market?
Major players in the metal forming machine tools market are heavily invested in the development of advanced technologies like digital sheet forming DSF technology that significantly enhances efficiency and accelerates production processes.

How Is The Metal Forming Machine Tools Market Segmented?
- By Type: Bulk Forming, Sheet Forming, Powder Metal Forming, Other Types
- By Raw Materials: Ferrous, Non-Ferrous, Steel, Aluminum, Other Raw Materials
- By Application: Automotive, Manufacturing, Precision Engineering, Construction, Aerospace And Defense, Other Applications

How Does The Metal Forming Machine Tools Market Perform Across Different Regions?
North America was the largest region in the metal forming machine tools market in 2023. The regions covered in this market report encompass Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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