Swaging Machines Market size to increase by USD 1.24 billion from 2023 to 2028, Increased demand for swaging machines for automobiles to drive the growth - Technavio

NEW YORK, Jan. 10, 2024 /PRNewswire/ -- The swaging machines market size is expected to grow by USD 1.24 billion between 2023 and 2028. However, the growth momentum of the market will progress at a CAGR of 4.7% during the forecast period. The market is segmented by product (radial swaging machine, rotary swaging machine, hydraulic swaging machine, and others), application (automotive, machinery and equipment, chemical and materials, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa).

Increased demand for swaging machines for automobiles is a key factor driving market growth. Hydraulic swaging machines, Pneumatic Swaging Machines, Automotive Swaging Machines, and CNC Swaging Machines cater to this rise, aligning with the escalating need for Industrial Swaging Machines, Aerospace Swaging Machines, and HVAC Swaging Machines applications. This increase in demand highlights the significant role of Metalworking Machinery, driving innovation and efficiency in this segment.

The report analyses the market size and growth and provides accurate predictions on the growth of the market. View Free PDF Sample Report

Key Highlights:

• The report recognizes the following as some of the key players in the swaging machines market: CENTRAL WIRE INDUSTRIES, Chant Engineering Co. Inc., Deep Industrial Corp., FENN, Gold International Machinery Corp., Kuriyama of America Inc., Micro Hydro Technic Pvt. Ltd., Patson Machines Pvt. Ltd., RAS Reinhardt Maschinenbau GmbH, SAHM SPLICE GmbH, Scorpion Equipment, Shuz Tung Machinery Industrial Co. Ltd., Simpletec Automatics Pvt. Ltd., Talurit Group, The Weir Group Plc, Victory Machinery Corp., Yashwant Industries, SLS Machinery Co. Ltd., HOREN INDUSTRIAL Co. Ltd., and Fichter formtec GmbH
• Swaging Machines Market is fragmented in nature.
• Market to observe 4.21% YOY growth in 2024.

Market Dynamics:

Major Trend 

The increasing use of swaging machines in the furniture industry is a major trend in the market. Swaging Dies, Precision Swaging, and Custom Swaging Solutions meet the demand for high-speed swaging, seamless tube swaging, and precise Swaging Processes. Cold swaging and Hot Swaging techniques, along with Tube swaging and Wire Swaging capabilities, play significant roles in catering to the furniture sector's diverse needs. Rotary Swaging emerges as a versatile solution, showcasing its adaptability in crafting intricate furniture components.

Significant Challenge

The lack of skilled labor to operate swaging machines is a significant challenge restricting market growth. This challenge impacts Swaging Services, hindering the potential growth of the Swaging Industry. Despite positive Swaging Market Trends, the lack of trained personnel affects Swaging Machine Manufacturers, Swaging Machine Suppliers, and Swaging Machine Maintenance services. The absence of skilled labor impedes efficient Production Swaging, emphasizing the urgent need for training and education in Swaging Technology and Swaging Applications, essential for utilizing Swaging Tools effectively.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Keg Segments:

• The radial swaging machine segment is estimated to witness significant growth during the forecast period. A radial swaging machine segment serves as a precise metalworking tool for shaping cylindrical workpieces. It is especially valuable for diminishing tube or rod diameters, crafting tapered forms, and producing intricate patterns. This process finds applications across diverse industries like aerospace, automotive, and manufacturing, facilitating the creation of components with precise geometric attributes.

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Related Reports:

The industrial machinery remanufacturing market size is estimated to grow by USD 482.43 billion at a CAGR of 18.54% between 2023 and 2028. 

The metal-cutting tools market size is estimated to grow by USD 7.26 billion at a CAGR of 5.86% between 2023 and 2028. 

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by Application

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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