Rolling Mill And Other Metalworking Machinery Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Major companies in the rolling mill and other metalworking machinery market include TRUMPF Group; Amada Co Ltd; Mitsubishi Electric; LST GmbH and Mazak. The global rolling mill and other metalworking machinery market is expected to grow from $27.

New York, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Rolling Mill And Other Metalworking Machinery Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06009814/?utm_source=GNW
59 billion in 2020 to $29.25 billion in 2021 at a compound annual growth rate (CAGR) of 6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $38.27 billion in 2025 at a CAGR of 7%.

The rolling mill and other metalworking machinery market consists of sales of rolling mill and other metalworking machinery and related services by entities (organizations, sole traders and partnerships) that produce rolling mill machinery and equipment and/or other metalworking machinery (except industrial molds, special dies and tools, die sets, jigs, and fixtures, cutting tools and machine tool accessories, and machine tools). The rolling mill and other metalworking machinery market is segmented into wire drawing and fabricating machinery; coil winding and cutting machinery; rolling mill machines; and other rolling mill and other metalworking machinery.

Asia Pacific was the largest region in the global rolling mill and other metalworking machinery market, accounting for 45% of the market in 2020. Western Europe was the second largest region accounting for 30% of the global rolling mill and other metalworking machinery market. Africa was the smallest region in the global rolling mill and other metalworking machinery market.

Metalworking machinery manufacturers are producing 3D laser processing machines to reduce processing time for laser cutting and welding applications. 3D laser is a 5-axle laser machine which cuts sheet-metal components in three dimensions. Metals including mild steel, stainless less and aluminum can be cut using lasers. Laser cutting significantly reduces the processing time required for cutting applications and thus reduces costs. Other benefits include localized laser energy input, high feed rate and minimal heat input. 3D lasers are typically used in automotive and aerospace industry for cutting or welding of aluminum parts, drilling of engine parts, and laser surfacing of used parts . According to an article published by engineering.com, laser cutting machines account for the largest segment of metal cutting machinery market thus indicating a significant rise in the use of this technology. Major companies producing 3D laser cutting machines include Mitsubishi electric, Trumpf, LST GmbH, Mazak.

The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the rolling mill and other metalworking machinery manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Manufacturers depend heavily on supply of raw materials from domestic and international suppliers. As many governments restricted the movement of goods across countries and locally, manufacturers had to halt production due to lack of raw materials. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that rolling mill and other metalworking machinery manufacturing market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy.

Rapid advances in technology is expected to drive innovation in rolling mill and other metalworking machinery manufacturing, thus driving the market during the forecast period. Furthermore, technologies such as 3D printing, artificial intelligence and big data analytics are being used in manufacturing thus resulting in higher productivity, lower operating costs and higher margins .For instance, according to a global survey by The Economist Intelligence Unit, about 90% of corporate executives felt that artificial intelligence (AI) will have a positive impact on company’s growth and 86% of respondents considered that AI will help improve productivity. Lower operating costs lead to higher margins, this allows companies to increase product portfolio and to enter new markets by making investments made through cost savings. IoT applications are also being integrated into these devices to enable services such as remote monitoring, central feedback systems and to offer other services. Mobile applications, advanced sensors and embedded software also created new opportunities for companies in this market. These factors are expected to drive the rolling mill and other metalworking machinery manufacturing market during the forecast period.
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