The Internet of Things (IoT), which can increase efficiency by optimizing manufacturing processes, is becoming increasingly popular in the automotive industry, likely boosting market growth. Participants in the sector now need to use technology that aid in lowering losses and expediting the process to stay competitive due to the increasing unpredictability of global events like the COVID-19 pandemic. During the course of the forecast period, this is anticipated to fuel demand for IoT-enabled powder compacting pressers. Furthermore, sintering, usually called press and sintering, is a widely used in the automotive industry. Since forged gears are one of the main contributors to vehicle emissions, many businesses are switching to using sintered gears in place of them in transmissions. This will increase demand for powder compacting pressers over the forecast period.
The recession will have a significant effect on the market for powder compacting pressers because they can cause a slowdown in the market for machinery and industrial equipment. The need for powder compacting pressers may decline during a recession as many businesses cut back on capital expenditures and put off buying new equipment. The demand for powder compacting pressers may be impacted by a decline in manufacturing activity that results from a recession. Companies may cut their manufacturing output and use fewer powder compacting pressers to meet their production needs if the demand for manufactured items declines.
Increasing Demand for Efficient and High-Quality Manufacturing Processes to Drive Market Growth
The need to lower production costs, boost productivity, and enhance product quality are just a few drivers driving the demand for effective and high-quality manufacturing procedures. For companies that demand high-quality goods, powder compacting pressers are a popular option since they provide an efficient and effective technique to generate solid shapes from powder materials. Using powder compacting presses, producers may cut down on waste and speed up the production of solid shapes. Lower production costs and higher productivity are the results. Moreover, powder compacting pressers offer high precision and accuracy, which is crucial for businesses that need high-quality goods. Products must be extremely precise and accurate for use in aerospace, automotive, and electronics industries. Powder compacting presses are able to create parts with a high degree of precision and accuracy, guaranteeing that the final product complies with the standards.
High Capital Investments to Limit Market Growth
The high capital expenditure necessary to buy and maintain this equipment is one of the primary market limitations for the powder compacting pressers industry. A powder compacting presser's price might change depending on the machine's kind, maker, features, and specifications. A powder compacting presser can be purchased for anywhere from tens of thousands of dollars for a basic model and several hundred thousand for a high-end unit with sophisticated capabilities. This large capital investment can be a substantial hurdle for small and medium-sized firms (SMEs), who do not have the financial wherewithal to invest in pricey machinery. The large capital expenditure needed for powder compacting pressers might make it difficult for enterprises to upgrade their machinery or purchase new pieces of equipment. This may restrict the uptake of innovative technology and impede commercial expansion.
Based on product, the powder compacting pressers market is segmented into hydraulic, electric, hybrid, mechanical and servo-hydraulic. The mechanical category dominated the market in 2022 because they have one of the fastest manufacturing rates and may be used for mass production. Most mechanical pressers offer their full press capacity at BDC (bottom dead center) and have fixed stroke lengths. Besides, the servo-hydraulic category held a significant share of the market. Few producers of compacting presses, who are currently gaining ground, have created servo-hydraulic powder compacting pressers. To ensure repeatability, servo-hydraulic pressers use a hybrid control that combines electromechanical, electrohydraulic, and electronic motion control.
Based on application, the powder compacting pressers market is segmented into powder metallurgy, ceramic & cement, carbon & carbide and others. The powder metallurgy category dominated the market in 2022. Using less material and cheaper machining costs are benefits of powder metallurgy. Moreover, powder metallurgy has proved advantageous because it offers component homogeneity, lowering operational costs. Besides, the carbon & carbide category held a significant share in the market over the forecast period. Due to their high abrasiveness, hardness, and corrosion resistance, carbide powders made from tungsten, boron, and silicon are widely used in industry. While making seal rings and wear plates, which don't need to be further finished, tungsten carbide powder is compacted using powder compacting presses.
Based on end-use, the powder compacting pressers market is segmented into automotive, machining, energy & electricity, equipment, medical, military, construction and others. The automotive category dominated the market in 2022. To fulfil the need for autos, businesses have begun expanding their manufacturing facilities, which has increased demand for PM-based components and benefited the automotive industry. Besides, the military category held a significant share in the market. The military industry requires various components that must be produced with the highest quality and accuracy and are challenging to produce using traditional techniques, like forging. Using powder compacting pressers to manufacture these intricate components is anticipated to promote market expansion.
North America is projected to hold the largest powder compacting pressers market share over the forecast period. The market is anticipated to be driven by elements like the existence of significant companies in the area and the rising purchasing power of consumers. With strong defense spending in the United States, significant government and private aerospace businesses are anticipated to drive the market's growth over the forecast period. On the other hand, the Europe powder compacting pressers market is anticipated to grow significantly. It is anticipated that the expansion of the tourism industry will fuel the building of commercial infrastructures like hotels, restaurants, and shopping centers, supporting the expansion of the construction sector. The demand for powder compacting pressers in the construction industry is also anticipated to increase due to the rise of Italy's residential construction sector due to the country's fast urbanization and population growth.
LIST OF KEY COMPANIES PROFILED:
- KomageGellnerMaschinenfabrik KG
- SMS group GmbH
- Osterwalder AG
- MaschinenfabrikLaufferGmbH & Co.KG
- Gasbarre Products, Inc.
- Ajax CECO Erie Press
- Beckwood Press
- Digital Press
- DORST Technologies GmbH & Co. KG
|Market Size in 2022||USD 351.2 Million|
|Market Forecast in 2030||USD 431.7 Million|
|Compound Annual Growth Rate||3.50 %|
|Unit||Revenue (USD Million) and Volume (Kilo Tons)|
|Segmentation||By Product, By Application, By End Users and By Geography|
|By End Users||