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Rolling Mill And Other Metalworking Machinery Global market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Rolling Mill And Other Metalworking Machinery Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UK, September 3, 2024 /EINPresswire / -- The rolling mill and other metalworking machinery market has experienced robust growth in recent years, expanding from $26.14 billion in 2023 to $28.11 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to industrialization and construction, automotive and aerospace manufacturing, infrastructure development, raw material processing, quality and efficiency improvement.
Strong Future Growth Anticipated
The rolling mill and other metalworking machinery market is projected to continue its strong growth, reaching $36.8 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to digitalization and industry 4.0 integration, sustainability and eco-friendly manufacturing, customization and agile manufacturing, automation and robotics integration, globalization of manufacturing.
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Growth Driver Of The Rolling Mill And Other Metalworking Machinery Market
The rising demand for steel is expected to propel the growth of the rolling mill and other metalworking machinery market going forward. Steel is a metal alloy composed primarily of iron and carbon, along with small amounts of other elements, and is widely used in the world due to its combination of strength, durability, and versatility. Rolling mills play a crucial role in the steel industry, where they are used to convert steel ingots or billets into various shapes and forms, including sheets, plates, rods, and structural sections.
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Major Players And Market Trends
Key players in the rolling mill and other metalworking machinery market include TRUMPF Group, Amada Co. Ltd., Mitsubishi Electric, LST GmbH, Mazak, Milacron LLC, Bradbury Co Inc., Standex International Corporation.
Major players operating in the market are focused on investments to expand their global presence to access new markets, diversify their customer base, and reduce supply chain risks. Investment in rolling mills establishes or improves metalworking facilities and machinery for processing metal products such as sheets and rods through rolling processes to boost production capacity and efficiency.
Segments:
1) By Type: Wire Drawing and Fabricating Machinery, Coil Winding and Cutting Machinery, Rolling Mill Machines, Other Rolling Mill And Other Metalworking Machinery
2) By Capacity: Small, Medium, Large
3) By Application: Metal Manufacturing, Machinery and Equipment, Automotive, Other Applications
Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the rolling mill market in 2023. Western Europe was the second largest region of the rolling mill market. The regions covered in the rolling mill and other metalworking machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Rolling Mill And Other Metalworking Machinery Market Definition
Rolling mill refers to an establishment where metal is rolled into plates and bars. Metalworking Machinery refers to a type of equipment that's designed specifically for metal workpieces.
Rolling Mill And Other Metalworking Machinery Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Rolling Mill And Other Metalworking Machinery Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on rolling mill and other metalworking machinery market size , rolling mill and other metalworking machinery market drivers and trends, rolling mill and other metalworking machinery market major players, rolling mill and other metalworking machinery competitors' revenues, rolling mill and other metalworking machinery market positioning, and rolling mill and other metalworking machinery market growth across geographies. The rolling mill and other metalworking machinery market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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