The cold heading machine market is projected to register a CAGR of greater than 4% during the forecast period. The major factor driving the growth of the market studied include robust growth registered by the construction industry.
New York, June 01, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cold Heading Machine Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06079788/?utm_source=GNW
However, unawareness regarding the usage of cold heading machines is one of the major factors restraining the growth of the market studied.
- The automotive industry dominated the market and owing to innovation and development, along with the increasing usage of cold heading machines in the industry.
- The increasing adoption of cold heading machines in the Asia-Pacific region is likely to provide growth opportunities to the market studied during the forecast period.
- Globally, the North American region dominated the market, with increasing usage in industries, such as automotive, construction, and aerospace.
Key Market Trends
Electrical Industry to Witness Lucrative Growth
In recent years, the electrical industry in the developing countries is increasing at a significant rate.
Appliance industry benefits through cold heading machinery, by the manufacturing of gears and fasteners for assembly.
Shifting to cold heading results in freedom from porosity, segregation, large inclusions, and other cast part defects. This makes cold heading parts highly unlikely to leak under high pressures. This is making it a perfect choice for a few high pressure and hydraulic components, like rod ends and ports for 3,000 psi cylinder, which may be replaced with bar stocks, which are leakage proof.
The electrical industry uses cold heading machinery for making cold headed electrical contact rivets. Most popular ones are solid and bi-metallic. In special occasions, electrical appliances also require custom cold headed parts, such as rivets and fasteners.
The aforementioned factors are expected to drive the demand for cold heading manufactured materials. This, in turn, is expected to increase the demand of cold heading machines in electrical applications.
The Asia-Pacific Region is expected to Dominate the Market
- Asia-Pacific dominated the global market with a share of more than 55%. The cold heading machine market’s growth is expected to be driven by the growth of end-user industries, such as automotive, construction, electronics, and aerospace.
- Increasing demand from construction and electronics sectors from countries such as India and China is the key driving factor for the market studied in the region.
- The production of heavy equipment and machinery in China is also growing at a moderate rate. High-end manufacturing control machinery and robotics are one of the ten priority sectors of the strategy - Made in China 2025. This policy comes as a response to the fact that the quality of the Chinese robotics and automation should improve.
- However, decreasing automotive production and sales in the region are likely to have a negative impact on the demand for the market studied.
The cold heading machine market is fragmented, where numerous players account for insignificant market shares. This is expected to impact the market’s dynamics. Some of the noticeable market players include Chun Yu Group (Chun Zu Machinery Ind. Co. Ltd), GFM, Wrentham Tool Group LLC, Sakamura USA Inc., and Hatebur Umformmaschinen AG, among others.
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