Powder Compacting Pressers Market Share, Future and Forecast Report to 2028
Powder Compacting Pressers Industry Overview
The global powder compacting pressers market size was valued at USD 305.7 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.7% from 2020 to 2028.
Rising demand for the Internet of Things (IoT) in automobile production owing to its ability to provide improved efficiency by streamlining the manufacturing processes is expected to have a positive impact on the market growth. The rising unpredictability of global events, such as the COVID-19 pandemic, has made it necessary for industry participants to adopt technologies that help in reducing losses and streamlining the process for them to stay in the competition. This, in turn, is expected to drive the demand for powder compacting pressers incorporated with IoT over the forecast period.
Gather more insights about the market drivers, restrains and growth of the Global Powder Compacting Pressers Market
The U.S. automotive market plummeted due to the outbreak of the COVID-19 pandemic, leading to a decline in the purchasing power of the population. The declining trend in automotive sales and production continued in 2020 amidst the COVID-19 pandemic. However, there has been a revival in demand in 2021 mainly due to financial packages announced by the U.S. government to jumpstart the economies, which has improved consumer demand.
Press and sinter, also commonly known as sintering, is a widely adopted technology in the automotive sector. Sintered gears are currently being used in transmissions instead of forged gears by a number of companies as gears manufactured by forging are one of the primary causes of car emissions, thereby augmenting the demand for powder compacting pressers over the forecast period.
Powder compacting pressers are in high demand in the aerospace and military sectors on account of their ability to manufacture lightweight aerospace parts and improve the overall efficiency of the final product, which is otherwise costly and time-consuming through the traditional manufacturing process. The equipment demand is projected to witness growth owing to their ability to manufacture parts in bulk in less time and fulfill on-demand orders with high efficiency.
Furthermore, there is an increased demand for second-hand powder compacting presses in third-world countries. Well-maintained pre-owned machines continue to be a cheaper alternative for businesses looking to expand their footprint in order to keep up with new and upcoming projects, tight deadlines, and diversification opportunities in economies of transition, especially the Asia Pacific region.
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Market Share Insights
- June 2019: Erie Press Systems entered into a merger with Ajax-CECO and became one of the largest forging equipment suppliers in North America.
Key Companies profiled:
Some of the prominent players in the global powder compacting pressers market include:
- KomageGellnerMaschinenfabrik KG
- SMS group GmbH
- Osterwalder AG
- MaschinenfabrikLauffer GmbH & Co.KG
- Gasbarre Products, Inc.
- Ajax CECO Erie Press
- Beckwood Press
- Digital Press
- DORST Technologies GmbH & Co. KG
- Cincinnati Incorporated
- Nanjing East Precision Machinery CO., LTD.
- Dongguan Yihui Hydraulic Machinery Co., Ltd.
- Santec Exim Pvt. Ltd.
- Quintus Technologies AB
- SACMI IMOLA S.C.
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