Newark, April 29, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 13.4 billion bench hydraulic press market will reach USD 21.6 billion by 2033. Due to the increased need for high-power pressing applications across a range of industries, including the automotive and aerospace sectors, there is a rise in the market for hydraulic press machines. Furthermore, the market for hydraulic press machines is anticipated to rise due to the industrial sector's increasing adoption of technologically sophisticated automated systems and the automobile industry's rising need for fabricated metal. The market for hydraulic press machines is also anticipated to increase due to enhanced machine stiffness and strength compared to older equipment and reduced production costs within optimised time.
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However, the development of accessible interfaces for these machines, the use of VFDs in hydraulic press machines to achieve high energy efficiency, and the growing use of hydraulic press machines in the plastic and rubber processing industries are anticipated to present manufacturers in China, Germany, and India with profitable growth prospects. However, the rise in 3D printing equipment as a substitute for hydraulic press machines and the unpredictability of the Chinese economy are anticipated to impede the expansion of the hydraulic press machine market.
North America is anticipated to account for the largest market size during the forecast period.
Bench hydraulic presses are widely utilised in North America because of the region's robust manufacturing sector, mostly in the automobile and aerospace industries. Technical advancements, leading industry brands, and stringent quality standards in North American sectors contribute to market domination. The growing demand for commercial and passenger automobiles further stimulates the growing market in the region.
The C-type segment dominated the market with the most significant revenue of USD 7.77 billion.
The C-type segment dominated the market with the most significant revenue of USD 7.77 billion. The C-frame design's open front structure, which mimics the letter "C," makes it easier to load and unload workpieces, increasing operating effectiveness. Additionally, this design element facilitates metal-forming processes, including deep drawing, punching, and bending, which are useful to the work area.
The machining plant segment dominated the market with the most significant revenue of USD 4.55 billion.
The machining plant segment dominated the market with the most significant revenue of USD 4.55 billion. In machining plants, bench hydraulic presses work incredibly well because they deliver the constant, regulated force required for cutting, shaping, and metal forming. By creating intricate designs and exact tolerances, these presses are essential to satisfying the demanding needs of machining facilities in numerous industries.
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Market Dynamics:
Drivers: Growing demand
One of the main forces driving market expansion is the rising demand for bench hydraulic press machines, goods, and services, driven by urbanisation, population growth, and shifting consumer tastes.
Restraint: Supply chain disruptions
Supply chain disruptions, such as shortages of essential materials or components, can impact the availability and pricing of bench hydraulic press machine solutions, hindering market growth.
Some of the major players operating in the bench hydraulic press market are:
● Bucher Industries
● Parker Hannifin
● Buffalo Hydraulic
● Beta Tools
● Bosch
● Enerpac
● Dayang Hydraulic Press
● Greenerd Press & Machine
● Heritage Machinery
● RK Machinery
Key Segments cover in the market:
By Type:
● C-Type
● H-Type
By Application:
● Machining Plant
● Production Workshop
● Laboratory
● Others
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About the report:
The global bench hydraulic press market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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