What Fueled The Previous Growth In The Hydraulic Ironworker Machine Market?
The hydraulic ironworker machine market has seen considerable growth due to a variety of factors.
• The market size for hydraulic ironworker machines has been on a consistent upward trend in the recent past. The market, which sits at $11.56 billion in 2024, is anticipated to increase to $12.09 billion in 2025, translating to a compound annual growth rate (CAGR) of 4.6%.
Factors such as the surge in industrial expansion and construction activities, launch of infrastructure development programs, expansion of the manufacturing sector, high demand for custom metal fabrication, and the installment of renewable energy sources all contribute to this historic period of growth.
How Does the Forecast Look for the Hydraulic Ironworker Machine Market?
The hydraulic ironworker machine market is expected to maintain its strong growth trajectory in upcoming years.
• The market for hydraulic ironworker machines is projected to experience consistent growth in the coming years, reaching a size of $14.34 billion in 2029 with a compound annual growth rate (CAGR) of 4.4%.
The growth during the prediction period could be due to maintenance and repair work as well as an increase in usage in small and medium enterprises (SMEs). Noteworthy trends expected over the forecast period encompass high-speed hydraulic ironworkers, advanced safety feature incorporation, remote management and operation, application of heavy-duty materials, and customizable and modular setups.
What Are The Leading Drivers Of Growth In The Hydraulic Ironworker Machine Market?
The expansion of the steel industry is projected to fuel the hydraulic ironworker machine market's growth in the future. The steel industry encompasses the various stages of steel production, processing, and distribution, with steel being a widely used iron and carbon alloy. Hydraulic ironworker machines are crucial in this industry, providing an efficient and versatile solution for many metal fabrication tasks. For example, the World Steel Association, based out of Belgium, reported that the demand for steel rose from 1,840.2 Metric Tons in 2022 to 1,881.4 Metric Tons in 2023. Thus, the escalating demand in the steel industry is contributing to the growth of the hydraulic ironworker machine market. A significant driver of the hydraulic ironworker machine market is the expected rise in the adoption of automation. Automating processes using technology reduces the need for human intervention by setting decision criteria, subprocess interactions and related actions, and then incorporating them into machines. Increasing automation could boost the hydraulic ironworker machine market by improving productivity, versatility, energy efficiency, and decreasing operator fatigue. For instance, the International Federation of Robotics, headquartered in Germany, announced significant improvements in robotics technologies in September 2023. Their recent World Robotics Report indicated that 553,052 new industrial robots were deployed globally in 2022, signifying a 5% increase from the prior year. In terms of geographical distribution, Asia stood for 73% of these installations, whereas Europe and the Americas accounted for 15% and 10%, respectively. Therefore, the anticipated rise in the adoption of automation is promoting the expansion of the hydraulic ironworker machine market.
How Are The Segments Defined Within The Global Hydraulic Ironworker Machine Market?
The hydraulic ironworker machine market covered in this report is segmented –
1) By Type: Single Cylinder Hydraulic, Double Cylinder Hydraulic
2) By Function: Punch, Shear, Bend, Notch, Press
3) By Operation: Automatic, Semi-Automatic
4) By Industry: Aerospace, Oil And Gas, Metallurgic, Automotive, Food And Beverages, Other Industries
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What New Trends Are Influencing The Hydraulic Ironworker Machine Market?
Key players in the hydraulic ironworker machine market are focusing their efforts on the fabrication of innovative products such as industrial-grade hydraulic system presses to maintain their relevance in the industry. An industrial-grade hydraulic press is a robust machine that utilizes hydraulic pressure to mold, align or compress materials. For instance, in September 2022, Scotchman Industries Inc., an American firm known for producing machinery and equipment for metal fabrication, announced the debut of the first PressPro 110W hydraulic press made in the USA specifically for tasks encompassing industrial-grade fabrication, shaping, straightening, assembly, maintenance, testing, and quality control. This novel model integrates a sturdy hydraulic system with a well-built, all-steel frame that ensures durability, strength, and longevity. The PressPro 110W workshop press allows for precision in pressing due to its fine control. It is equipped with features like a mobile ram cylinder, a pressure regulator, three ram speeds, a side-moving ram cylinder, an easy joystick operation, and a set of V-blocks as standard.
Who Are the Key Players In The Hydraulic Ironworker Machine Market?
Major companies operating in the hydraulic ironworker machine market report are:
• Robert Bosch GmbH
• Roper Whitney
• Mubea Group
• Peddinghaus Corporation
• Ficep Corporation
• Jorgenson Machine Tools Inc.
• GEKA Group
• Marvel Manufacturing Company Inc.
• Scotchman Industries Inc.
• Baileigh Industrial Holdings LLC
• Megafab Engineering Pte Ltd.
• JMT USA
• Cleveland Steel Tool
• Quantum Machinery Group
• Carell Corporation
• Eagle Bending Machines Inc.
• Prada Nargesa S.L.
• Uni-Hydro Inc.
• Elite Metal Tools
• Anhui Winying Machinery Manufacturing Co Ltd.
• Hydro Power Tech Engineering
• Sunrise Fluid Power Inc.
• American Machine Tools Company
• Masko Tech Engineers
• Rajesh Machines India LLP
What Is The Most Dominant Region In The Hydraulic Ironworker Machine Market?
Asia-Pacific was the largest region in the hydraulic ironworker machine market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the hydraulic ironworker machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
