How Has the Rolling Mill And Other Metalworking Machinery Market Size Evolved in Recent Years?
The rolling mill and other metalworking machinery market has seen considerable growth due to a variety of factors.
• There has been significant growth in the market size of rolling mill and other metalworking machinery in past years. The market is projected to increase from $27.55 billion in 2024 to $29.65 billion in 2025, experiencing a compound annual growth rate (CAGR) of 7.6%.
The historical growth in this market is due to factors such as industrialization, construction, the manufacturing of automotive and aerospace products, infrastructure advancements, processing of raw materials, and improvements in quality and efficiency.
What Are The Predictions for The Rolling Mill And Other Metalworking Machinery Market in the Coming Years?
The rolling mill and other metalworking machinery market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of rolling mill and other metalworking machinery is projected to experience robust growth in upcoming years, reaching $38.49 billion by 2029 at a compound annual growth rate (CAGR) of 6.7%.
The anticipated growth during this period can be tied back to factors like digitalization and integration of industry 4.0, sustainable and eco-conscious production, customization and nimble manufacturing, along with integration of automation and robotics, and the global expansion of manufacturing. Prominent trends forecasted for this period are enhanced materials processing, precision and microscopic machining, metal additive manufacturing, modular and adjustable machinery, and energy-efficient processing.
Which Drivers Are Accelerating Growth In The Rolling Mill And Other Metalworking Machinery Market?
The escalating need for steel is foreseen to boost the expansion of the rolling mill along with other metalworking machinery market in the future. Comprising mainly of iron and carbon, and minute quantities of other elements, steel is a popularly consumed metal alloy owing to its unique blend of strength, resilience and adaptability. Rolling mills serve a pivotal role in the steel sector, where they morph steel ingots or billets into multifarious shapes and formats, inclusive of sheets, plates, rods, and structural sections. To illustrate, as per the World Steel Association based in Belgium, the demand for steel is expected to bounce back by 2.3% and touch a sum of 1,822.3 million metric tons (Mt) in April 2023. Furthermore, the need for steel is estimated to elevate by 1.7%, summing up to a total of 1,854.0 million metric tons (Mt) during 2024. Hence, the surging need for steel is catalyzing the expansion of the rolling mill and metalworking machinery market.
What Are The Core Segments Of The Global Rolling Mill And Other Metalworking Machinery Market?
The rolling mill and other metalworking machinery market covered in this report is segmented –
1) By Type: Wire Drawing and Fabricating Machinery, Coil Winding and Cutting Machinery, Rolling Mill Machines, Other Rolling Mill And Other Metalworking Machinery
2) By Capacity: Small, Medium, Large
3) By Application: Metal Manufacturing, Machinery and Equipment, Automotive, Other Applications
Subsegments:
1) By Wire Drawing And Fabricating Machinery: Wire Drawing Machines, Wire Fabricating Machinery
2) By Coil Winding And Cutting Machinery: Coil Winding Machines, Coil Cutting Machines
3) By Rolling Mill Machines: Hot Rolling Mill Machines, Cold Rolling Mill Machines, Steckel Rolling Mill Machines
4) By Other Rolling Mill And Other Metalworking Machinery: Forging Machinery, Metal Shearing Machines, Punching Machines, Bending Machines, Other Metalworking Machinery
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What Trends Are Reshaping The Future Of The Rolling Mill And Other Metalworking Machinery Market?
Leading entities in the marketplace are strategically making investments to broaden their global footprint in order to enter new markets, diversify their client base and minimize potential risks associated with supply chains. These investments mainly target rolling mills to either set up or enhance their metalworking facilities and machineries, crucial for the processing of metal products such as sheets and rods. This move aims at increasing production capacity and operational efficiency. A case in point is the US-based industrial rolling and recycling solutions firm, Novelis Inc. In May 2022, the company assigned $2.5 billion towards the establishment of an advanced low-carbon recycling and rolling mill in Bay Minette, Alabama, USA. This high-tech facility has been projected to churn out 600 kilotons of finished aluminum products on an annual basis, signaling a significant phase of growth for Novelis. Such an investment underlines Novelis's unflinching dedication towards meeting its customers' needs and providing sustainable, low-carbon aluminum resources. The company’s strategic move is fueled by the strong demand in North America for flat-rolled aluminum that is environmentally friendly, generally utilized by beverage companies. This underlines the importance of aluminum packaging in promoting sustainability and fostering a circular economy.
Who Are the Key Players In The Rolling Mill And Other Metalworking Machinery Market?
Major companies operating in the rolling mill and other metalworking machinery market include:
• TRUMPF Group
• Amada Co. Ltd.
• Mitsubishi Electric
• LST GmbH
• Mazak
• Milacron LLC
• Bradbury Co Inc.
• Standex International Corporation
• Greenlee Tools Inc.
• Kuka Systems North America LLC
• American Roller Company LLC
• Danieli Corporation
• George Koch Sons LLC
• Jr Technology Group LLC
• Bright Machines Inc.
• SMS Group GmbH
• Primetals Technologies Limited
• Fives Group
• Andritz AG
• Nucor Corporation
• JTEKT Corporation
• Okuma Corporation
• DMG Mori Co Ltd.
• Makino Milling Machine Co Ltd.
• Haas Automation Inc.
• Doosan Machine Tools Co. Ltd.
• Komatsu Ltd.
• Mori Seiki Co Ltd.
• Fanuc Corporation
• Siemens AG
• ABB Ltd.
What Are The Regional Insights Into The Rolling Mill And Other Metalworking Machinery Market?
Asia-Pacific was the largest region in the rolling mill market in 2023. Western Europe was the second largest region of the rolling mill market. The regions covered in the rolling mill and other metalworking machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
