REPORT HIGHLIGHT
Deep Drawing Machines Market size was valued at USD 1,809.6 Million in 2022, expanding at a CAGR of 5.9% from 2023 to 2030.
Deep drawing is a popular production procedure for sheet metal products in the industry. Deep sketching may be used to create extremely intricate components. The method is extensively utilized to manufacture various goods such as automobile components, cans, sinks, and housing, and the application areas are expanding daily.
Deep Drawing Machines Market - Market Dynamics:
- Rapid growth in the manufacturing industry drives the market growth
- There is a strong need for deep-driving machines as a result of several industries, including home appliances, electronics, aerospace, and automotive, increasing more quickly than ever. This equipment is essential for accurately and precisely producing complicated metal components. For instance, India's ESDM (Electronics System Design & Manufacturing) business is anticipated to develop at a 16.1% compound annual growth rate (CAGR) between 2019 and 2025 as a result of the spike in demand for electronic products, reaching US$ 220 billion by 2025. India's EMS market is anticipated to be valued at US$152 billion by 2025. The second-largest smartphone manufacturer in the world and India's high internet penetration rate have increased consumer acceptance of electronic products, which is fueling the ESDM market. The Indian government seeks to promote and draw investment to FABs (fabrication units) that manufacture semiconductors. More than 90% of the research and development centers for semiconductors are located in India. Thus, the aforementioned fact drives the market growth over the forecast period.
Deep Drawing Machines Market - Key Insights:
- As per the analysis shared by our research analyst, the global Deep Drawing Machines market is estimated to grow annually at a CAGR of around 5.9% over the forecast period (2023-2030)
- The Deep Drawing Machines industry is projected to grow at a significant rate owing to the growing demand from end-use industries including automotive, aerospace and others.
- Based on the application, the machinery manufacturing segment is expected to capture the largest market share over the forecast period.
- Based on region, the Asia Pacific is expected to capture the largest revenue share over the forecast period.
Deep Drawing Machines Market- Segmentation Analysis:
- The Global Deep Drawing Machines Market is segmented based on type, capacity, application and Region.
- Based on the application, the global Deep Drawing Machines market is segmented into industrial, automotive, machinery manufacturing, chemicals, and others. The machinery manufacturing segment is expected to capture the largest market share over the forecast period. The market is expanding as a result of its key benefits, which include simple stretching and bending to produce pieces with homogeneous wall thickness. Deep drawing provides sturdy metal sheet components, which aid in the manufacture of machinery. Thus, driving the segment growth.
Deep Drawing Machines Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. The Asia Pacific is expected to capture the largest revenue share over the forecast period. The market growth in the region is ascribed to the increasing automotive and consumer electronics industry. In the region, India and China contribute a significant revenue share because these countries are developing at a very fast pace and a hubs of various industrial manufacturing. However, the North American region is anticipated to hold a significant market share over the forecast period due to several reasons, such as the increasing demand for precise production across a range of industries, including appliances, electronics, aircraft, and automobiles, as well as the growth of the industrial sector and technological breakthroughs.
Deep Drawing Machines Market- Competitive Landscape:
The key players operating in the market are: Royal Systems, Asahi- Seiki, LASCO Umformtechnik, Savage, Greenerd, Siempelkamp, Nantong Metalforming, SKEM, Schuler AG, Beckwood Press, AP&T, Waterbury Farrels, SICMI SRL, KAAST Machine Tools, Sangiacomo Presses and Kiran Hydraulic.
Recent Developments:
In January 2023, the acquisition of Utitec, Inc., a producer of small, deep-drawn medical devices and commercial parts, was announced by Cadence, Inc., a major contract manufacturer of medical and drug delivery devices and speciality commercial goods. Cadence is enhancing its capabilities by adding deep draw and more cleanroom production space with this acquisition.
Key features of the study:
- This proposed research study on Deep Drawing Machines market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
- The report provides the client the latest up-to-date and trending insights about the Deep Drawing Machines market.
- The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Deep Drawing Machines market
- The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Deep Drawing Machines market
- Impact of COVID-19 on Deep Drawing Machines market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Deep Drawing Machines market post-COVID will also be covered.
- In order to give the users of this report a comprehensive view on the Deep Drawing Machines market, we have also included competitive landscape and key innovator analysis for the Deep Drawing Machines market.
- The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
- The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Deep Drawing Machines market.
- In addition, the report also unveils the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
- The global Deep Drawing Machines market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL DEEP DRAWING MACHINES MARKET KEY PLAYERS
- Royal Systems
- Asahi- Seiki
- LASCO Umformtechnik
- Savage
- Greenerd
- Siempelkamp
- Nantong Metalforming
- SKEM
- Schuler AG
- Beckwood Press
- AP&T
- Waterbury Farrels
- SICMI SRL
- KAAST Machine Tools
- Sangiacomo Presses
- Kiran Hydraulic
GLOBAL DEEP DRAWING MACHINES MARKET, BY TYPE
- Pneumatic
- Electric
- Mechanical
- Hydraulic
GLOBAL DEEP DRAWING MACHINES MARKET, BY CAPACITY
- 300 Ton
- 300-1000 Ton
- Above 1000 Ton
GLOBAL DEEP DRAWING MACHINES MARKET, BY APPLICATION
- Industrial
- Automotive
- Machinery Manufacturing
- Chemicals
- Others
GLOBAL DEEP DRAWING MACHINES MARKET, BY REGION
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA