Engineering Innovation: Global Deep Drawing Machines Market Size is Expected to Grow to $2,647.51 Million by 2030, Expanding at a CAGR of 5.11%

New York, NY, Aug. 07, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Deep Drawing Machines Market By Product Type (Pneumatic, Electric, Mechanical, And Hydraulic Type), By Distribution Channel (Offline And Online Channels), By Application (Industrial, Automotive, Machinery Manufacturing, Chemicals, And Others), By Price Range (Economy And Premium Class), By Customer Type (Business To Business And Business To Customer), By Capacity (300 Ton, 300-1000 Ton, And Above 1000 Ton), And By Region: - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts, 2023-2030.” in its research database.

“According to the latest research study, the demand of global Deep Drawing Machines Market size & share in terms of revenue was valued at USD 1784.59 million in 2022 and it is expected to surpass around USD 2647.51 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 5.11% during the forecast period 2023 to 2030.”

What are Deep Drawing Machines? How big is the Deep Drawing Machines Industry?

Report Overview:

The global deep drawing machines market size was valued at USD 1784.59 million in 2022 and is likely to surpass USD 2647.51 million by the end of 2030. The deep drawing machines industry is expected to grow with a CAGR of 5.11% during the forecast period.

By applying pressure to the metal sheet while it is sandwiched between two slates in a deep drawing press, the sheet of metal can be given the desired shape. In order to shape the metal into the appropriate shape using this method, the metal is stretched while being punched. It finds widespread application in industries such as household appliances, electronics, aerospace, automotive, and many others, among many others, where it is necessary to convert metal components into a different shape in an efficient and accurate manner.

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Global Deep Drawing Machines Market: Growth Factors

It is probable that the rapidly developing manufacturing industry will contribute to the expansion of the worldwide market.

Deep-driving machines are in high demand as a result of the rapid expansion of a number of different industries, including automotive, electronics, aerospace, and home appliances. These machines are an essential component in the production of intricate metal components that require high levels of precision and accuracy. A further factor that is anticipated to contribute to the expansion of the global market for deep drawing machines is the ongoing development of new technologies within the deep drawing machine industry. These developments aim to enhance the automation capabilities, accuracy, and efficiency of these machines. For example, Asahi Kasei funded one hundred million dollars in Care, which is a company-established framework that will take an innovative effort towards achieving carbon neutrality in 2023.

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Report Scope

Deep Drawing Machines Market: Segmentation Analysis

It is possible to divide the global market for deep drawing machines into distinct submarkets based on the product type, distribution channel, application, price range, client type, capacity, and geography.

The market can be divided into four different sorts according to the product it sells: pneumatic, electric, mechanical, and hydraulic. As a result of the increasing number of industries that utilise hydraulic deep drawing machines, it is anticipated that the hydraulic subsegment will lead the market in the future years. Because it provides great force from high-pressure oil, the hydraulic deep drawing press is extensively utilised. This force helps in managing all of the moments that occur within the pressing press. This facilitates the moulding of a large, thick variation of steel sheet into thin-walled components that have an equal thickness. However, the mechanical type segment is also anticipated to have a high growth rate because it is a more cost-effective option to deep drawing. This is one of the primary reasons for this expectation. When the working principle is based on the mechanical system, which means that the force is created mechanically rather than pneumatically or hydraulically, mechanical deep drawing might be helpful. This is the case in situations where the working principle is based on the mechanical system.

The market is able to be broken down into offline and online channels based on the distribution method used. It is anticipated that the offline sector would take the lion's share of the deep drawing machines market. This is due to the fact that these machines are extremely pricey, and customers want to buy this machinery with the ability to customise it and do a physical inspection before making their purchase. The online purchasing of these products has not lived up to the expectations of the customers.

The market is able to be split into several different types of applications, including industrial, automotive, machinery manufacturing, chemical, and others. Because of the significant benefits that it provides, such as simple stretching and bending for the production of components with consistent wall thickness, the equipment manufacturing sector holds the greatest share of the deep drawing machines business. This is owing to the fact that it accounts for the majority of the industry's revenue. The production of robust metal sheet components is facilitated by the deep drawing technique, which is used in the manufacturing of machinery. On the other hand, owing to the expanding demand for automobiles in international markets, the automotive sector is also anticipated to experience consistent expansion over the course of the next several years. The automated industry makes extensive use of deep drawing presses, particularly for the production of a variety of components such as oil pans, intake manifolds, clutch housings, brake drums, and many more. It is anticipated that the expansion of this sector within the industry would be helped forward by the rising demand for automobiles.

The market can be divided into the economic class and the premium class based on the price range. During the period covered by the forecast, it is predicted that the economy class category would experience significant growth with a high CAGR. The expansion can be credited to the ever-increasing number of small enterprises which can be found all over the world. On the other hand, the premium class segment is also anticipated to increase concurrently because end customers are continuously increasing the amount of money they invest.

The market can be divided into the business-to-business sector and the business-to-customer sector, depending on the type of customer involved. Because this business model is more prevalent in the global marketplace, it is anticipated that the business-to-consumer sector would dominate the market while maintaining a high CAGR. Additionally, it is more probable that buyers will make purchases straight from the brand store rather than travelling to any other platform.

According to capacity, the market can be divided into three distinct subsets: below 300 tonnes, between 300 and 1000 tonnes, and more than 1000 tonnes. Because small and medium-sized firms make up the majority of the market, the capacity range of 300 to 1000 tonnes is experiencing the most rapid growth. In addition, people choose working with machines of medium capacity because of the high scope that these machines offer.

The global Deep Drawing Machines market is segmented as follows:

By Product Type

• Pneumatic
• Electric
• Mechanical
• Hydraulic Type

By Distribution Channel

• Offline
• Online Channels

By Application

• Industrial
• Automotive
• Machinery Manufacturing
• Chemicals
• Others

By Price Range

• Economy
• Premium Class

By Customer Type

• Business To Business
• Business To Customer

By Capacity

• 300 Ton
• 300-1000 Ton
• Above 1000 ton

Browse the full “Deep Drawing Machines Market By Product Type (Pneumatic, Electric, Mechanical, And Hydraulic Type), By Distribution Channel (Offline And Online Channels), By Application (Industrial, Automotive, Machinery Manufacturing, Chemicals, And Others), By Price Range (Economy And Premium Class), By Customer Type (Business To Business And Business To Customer), By Capacity (300 Ton, 300-1000 Ton, And Above 1000 Ton), And By Region: - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts, 2023-2030" Report At https://www.zionmarketresearch.com/report/deep-drawing-machines-market

Competitive Landscape

Some of the main competitors dominating the global Deep Drawing Machines market include - 

• Nantong Metalforming
• SKEM
• LASCO Umformtechnik
• Savage
• Greenerd
• Siempelkamp
• Royal Systems
• Asahi- Seiki
• AP&T
• Beckwood Press
• Schuler AG
• Waterbury Farrels
• SICMI SRL
• KAAST Machine Tools
• Sangiacomo Presses
• Kiran Hydraulic
• Hydro Mechanik Engineers
• Balaji Hydro Tech

Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Deep Drawing Machines market is likely to expand at a CAGR of around 5.11% during the forecast period (2023-2030).                  
• In terms of revenue, the Deep Drawing Machines market size was valued at around US$ 1784.59 million in 2022 and is projected to reach US$ 2647.51 million by 2030.
• Fast-expanding manufacturing industry is likely to drive the growth of the global deep drawing machines market.
• Based on the product type, the hydraulic segment is expected to dominate the global market.
• Based on distribution channels, the offline segment is expected to swipe the largest share of the global market.
• Based on the application, the machinery manufacturing segment accounts for the largest share of the global market.
• Based on the price range, the economy class segment is anticipated to register notable growth with a high CAGR in the global market.
• Based on the customer type, the business-to-consumer segment is expected to dominate the global market.
• Based on the capacity, the 300 to 1000-ton capacity is the fastest-growing segment in the global market.
• Based on region, North America is expected to dominate the global market during the forecast period.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Deep Drawing Machines industry?
• What are the main driving factors propelling the Deep Drawing Machines Market forward?
• What are the leading companies in the Deep Drawing Machines Industry?
• What segments does the Deep Drawing Machines Market cover?
• How can I receive a free copy of the Deep Drawing Machines Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Product Type, By Distribution Channel, By Application, By Price Range, By Customer Type, By Capacity, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

North America dominates the global market.

North America is expected to hold the largest share of the global deep drawing machines market because of various factors like high demand for precision manufacturing in different sectors like appliances, electronics, aerospace, automotive, industrial development, and technological advancements. Additionally, the regional market is influenced by established global market players, who are competing hard to capture a larger market base in the region. Moreover, the surging industry trend of adoption of servo-driven deep drawing machines for better energy efficiency and higher precision is also likely to support the growth trajectory of the regional market.

Asia Pacific is also expected to experience a high growth rate in the coming years due to rapid industrialization and growing demand for automotive products. Growing economies like India, South Korea, Japan, China, and Taiwan are major contributors to the development of the industry. The region is known to be a manufacturing powerhouse with a strong presence of raw materials and a skilled workforce. However, such a landscape is drawing investments in the region which is also expected to support the growth trajectory of the regional market in the forthcoming years.

Europe is also expected to grow fast in the coming year due to the presence of a strong manufacturing base along with the diverse range of industries in the region. Technological innovation in the region is likely to propel the growth significantly. Additionally, European manufacturers are focusing majorly on optimizing energy efficiency and sustainability to align with the region's focus on green manufacturing practices, which is also expected to push the growth of the regional marketplace.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/deep-drawing-machines-market

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