The global Cold Heading Machine Market is estimated to be valued at US$ 3557.05 Mn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Cold heading machines are used to produce fastener parts such as bolts, nuts, and screws by forcing metal stock over a preformed die cavity under controlled pressure. The growing automotive industry is creating significant demand for cold headed fasteners used in the assembly of vehicles, which in turn is driving growth of the cold heading machine market.
Market key trends: Increased demand from automotive industry
The global cold heading machine market growth is primarily driven by increased demand from the automotive industry. Cold headed fasteners are widely used in automotive applications such as assembling of engines, transmissions, seating mechanisms, steering and suspension systems. With rising automotive production worldwide due to factors such as increasing disposable income and expanding middle class population globally, demand for cold headed fasteners from automotive OEMs and component manufacturers has increased significantly. This has pushed cold heading machine manufacturers to enhance their production capacities and capabilities to meet the growing needs of automotive end-use sector. This trend is expected to continue during the forecast period and significantly contribute to overall growth of cold heading machine market.
Segment Analysis
The global cold heading machine market is dominated by the hydraulic cold heading machines segment. This segment accounted for over 60% share of the overall market in 2023. Hydraulic cold heading machines can produce high-volume parts at a low cost per part as compared to other types of cold heading machines like CNC-based and servo driven machines. This has made hydraulic cold heading machines immensely popular among manufacturers.
Key Takeaways
The Global Cold Heading Machine Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size for 2023 is estimated at US$ 3557.05 Mn.
Regional analysis
Asia Pacific is expected to dominate the global cold heading machine market during the forecast period. The region accounts for around 45% share of the overall market. Higher presence of automotive and fastener manufacturers in countries like China, India makes Asia Pacific a major consumer of cold heading machines. In addition, availability of low-cost skilled labor and favorable business environment has attracted several multinational companies to set up their manufacturing bases in Asia Pacific, thereby propelling the demand for cold heading machines.
Key players
Key players operating in the Cold Heading Machine market are Yeswin Machinery Co. Ltd., Asahi Sunac Corporation, Chun Zu Machinery Industry Co. Ltd., Tanisaka Iron Works Co. Ltd., Gfm Gmbh Steyr, Sijin Intelligent Forming Machinery Co. Ltd., Hatebur Umformmaschinen Ag, Samrat Machine Tools, Hubei Tri-Ring Metalforming Equipment Co. Ltd (Ysd), Sakamura Machine Co. Ltd., Industrial Machinery Corporation, Sacma Limbiate Spa, Komatsu Industries Corp., Nedschroef Machinery, Lan Dee Woen Factory Co. Ltd., National Machinery Llc, And Nakashimada Engineering Works Ltd.
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