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Hydraulic Press Machine Market Size, Share, Trends and Opportunities by 2023

The global hydraulic press machine market is expected to register a CAGR of 4.8% during the forecast period and reach a value of $11,733.2 million by 2023. Hydraulic press machine refers to a mechanical device used in industrial manufacturing processes. These machines are widely used in several industries including automotive, military and ceramics to perform various tasks such as coining, blanking, stamping and embossing.

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Image result for hydraulic press machineMajor factors propelling the growth of the global hydraulic press machine market include surge in demand for fabricated metal, increased automation in manufacturing sectors and operational advantages of hydraulic press machines over traditional mechanical press machines. Moreover, hydraulic press machines are made of stainless steel owing to which these presses are highly durable. Durability of these presses is one of the major reasons to which the increase their adoption by various press end-users can be attributed.
Asia-Pacific garnered the largest revenue in the global hydraulic press machine market in 2016, and it is anticipated to maintain its dominance over next few years. Increasing demand for automobiles, electronic goods, advancement in military sector are the major factors that are expected to spur growth in the market for hydraulic press machine market in Asia-Pacific.
The automotive manufacturing industry reported consolidated structure across the globe, where fewer players account for a major market share. Asia-Pacific is expected to register notable growth in automotive industry during the forecast period. Growth of automotive manufacturing in Asia-Pacific is largely driven by the emerging economies such as India, China and Indonesia. Rapid increase in the number of automakers in emerging nations of Asia-Pacific is expected to spearhead the hydraulic press machine market in the region. Unlike, Asia-Pacific, automotive manufacturers suffered in Europe because of the excess capacity and their exposure in the European market.
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Some of the major companies operating in the global hydraulic press machine market include Beckwood Press, Greenerd, Hare Press and Schuler. Other prominent players operating in the global hydraulic press machine market are Amino Corporation, Asai Corporation, Betenbender Manufacturing, DAKE, DORST Technologies, ENERPAC, French Oil Mill Machinery, Fujian Haiyuan Automatic Equipments, GASBARRE PRODUCTS, Hefei Metalforming Machine Tools, Japan Automatic Machine, Jier Machine Tool, Jiangsu Yangli Group, Kojima Iron Works and Komatsu.
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