The Cold Heading Machine Market is estimated to be valued at US$ 3557.05 Mn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cold heading machines are used to cold form various metal components through pressing or extruding. It is widely used in automotive, aerospace, fasteners, and industrial machinery applications for manufacturing cold headed parts such as bolts, nails, screws, pins and precision parts. In cold heading process, heated metal billets or rods are gradually compressed and pierced by a punch and die sets under high pressure without heating the metal. Key advantages of using cold heading process includes net shape manufacturing, close tolerances, grain refinement and high strength.
Market Dynamics:
Rising demand for lightweight components in automotive and aerospace industries is one of the major drivers propelling the growth of cold heading machine market. Manufacturers are focusing on developing lightweight yet high strength components to meet stringent fuel efficiency norms. Cold heading technology enables mass production of lightweight components with high dimensional accuracy which finds wide application in these industries. For instance, cold headed parts like bolts are increasingly replacing traditionally machined parts in aerospace structural assembly to reduce overall vehicle weight.
In addition, advances in cold heading techniques such as multi-step joining and multi-function heading are gaining traction. These innovations allow complex net shape forming of components in a single stroke which improves production efficiency. Growing automation in industrial machinery also augments the adoption of automated cold forming technology like cold heading for on-demand manufacturing.
Segment Analysis
The global Cold Heading Machine Market Growth is segmented into header machines and cold forming machines, wherein the cold forming machines account for over 60% of the market share owing to the higher demand for shaped components manufacturing. Within cold forming machines, closed-die machines dominate the segment as they offer higher accuracy and precision in mass production of similar components.
PEST Analysis
Political: Trade policies and regulations related to import/export of machinery impact the global competitiveness of market players.
Economic: Rising GDP and industrial growth in Asia Pacific drive the demand for engineering components manufacturing and boost the cold heading machines market.
Technological: Adoption of advanced technologies like additive manufacturing, robotics, cloud computing in cold heading machines enhances productivity and automation.
Social: Increasing population and employment rates augment the demand for components from end-use industries like automotive, aerospace, etc. propelling the market growth.
Key Takeaways
The global Cold Heading Machine market is expected to witness high growth, exhibiting CAGR of 4.5% over the forecast period, due to increasing demand from automotive industry for engine components.
Regional analysis: Asia Pacific region dominates the cold heading machine market with China and Japan accounting for over 50% share owing to concentration of automotive OEMs. Within APAC, India is projected to grow at the fastest CAGR of 6.5% during 2023-2030 on account of rising automotive production and 'Make in India' initiative.
Key players operating in the Cold Heading Machine market are Yeswin Machinery Co. Ltd., Asahi Sunac Corporation, Chun Zu Machinery Industry Co. Ltd., Tanisaka Iron Works Co. Ltd., Gfm Gmbh Steyr, Sijin Intelligent Forming Machinery Co. Ltd., Hatebur Umformmaschinen Ag, Samrat Machine Tools, Hubei Tri-Ring Metalforming Equipment Co. Ltd (Ysd), Sakamura Machine Co. Ltd., Industrial Machinery Corporation, Sacma Limbiate Spa, Komatsu Industries Corp., Nedschroef Machinery, Lan Dee Woen Factory Co. Ltd., National Machinery Llc, And Nakashimada Engineering Works Ltd.
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