Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 1784.59 million | USD 2647.51 million | 5.11% | 2022 |
FrequentlyAsked Questions
A deep drawing press is used to shape the metal sheet by pressing it in between the two slates. This technique involves the stretching of metal with the punch to mold it into a desired form. It is widely used in the industries like household appliances, electronics, aerospace, automotive, and many others where metal components are needed to be turned into a different shape efficiently and accurately.
Several industries like household appliances, electronics, aerospace, and automotive are expanding faster than ever, which in turn is creating a high demand for deep-driving machines. These machines play a crucial role in manufacturing complex metal components with precision and accuracy. Also, the continuous technological advancements in the deep drawing machine sector to improve their automation capabilities, accuracy, and efficiency are further expected to propel the growth of the global deep drawing machines market
The global deep drawing machines market size was valued at USD 1784.59 million in 2022 and is likely to surpass USD 2647.51 million by the end of 2030.
The global deep drawing machines market is expected to grow with a CAGR of 5.11% during the forecast period.
North America is expected to hold the largest share of the global deep drawing machines market because of various factors like high demand for precision manufacturing in different sectors like appliances, electronics, aerospace, automotive, industrial development, and technological advancements. Additionally, the regional market is influenced by established global market players, who are competing hard to capture a larger market base in the region.
The key leaders in the global deep drawing machines market include Nantong Metalforming, SKEM, LASCO Umformtechnik, Savage, Greenerd, Siempelkamp, Royal Systems, Asahi- Seiki, AP&T, Beckwood Press, Schuler AG, Waterbury Farrels, SICMI SRL, KAAST Machine Tools, Sangiacomo Presses, Kiran Hydraulic, Hydro Mechanik Engineers, and Balaji Hydro Tech.
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