Hydraulic Ironworker Machine Global Market Report 2024

The hydraulic ironworker machine market size has grown steadily in recent years. It will grow from $11.02 billion in 2023 to $11.56 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth observed in the historical period can be attributed to factors such as industrial expansion and a construction boom, substantial infrastructure development projects, growth in the manufacturing sector, increased demand for custom metal fabrication, and the installation of renewable energy projects. These elements collectively contributed to the expansion and demand for hydraulic ironworker machines during the historic period.

The hydraulic ironworker machine market size is expected to see steady growth in the next few years. It will grow to $13.63 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The anticipated growth in the forecast period can be attributed to increased demand for maintenance and repair activities, along with the growing adoption of hydraulic ironworker machines in small and medium enterprises (SMEs). Major trends expected in the forecast period include the development of high-speed hydraulic ironworkers, the integration of advanced safety features, the implementation of remote access and control capabilities, the use of high-strength materials in machine construction, and a focus on customization and modular configurations to cater to diverse industrial needs.

The upsurge in demand within the steel industry is projected to drive the advancement of the hydraulic ironworker machine market. Within the steel sector, responsible for producing and distributing the versatile alloy of iron and carbon - steel, hydraulic ironworker machines serve as indispensable solutions for various metal fabrication tasks. In April 2022, as per the World Steel Association, steel demand escalated from 1,840.2 Mt in 2022 to 1,881.4 Mt in 2023, signifying a significant driver for the growth of the hydraulic ironworker machine market.

The rise in automated processes is anticipated to propel the hydraulic ironworker machine market forward. Automation, marked by reducing human intervention using technology, is expected to drive demand for these machines due to their contribution to increased productivity, versatility, energy efficiency, and reduced operator fatigue. As indicated by the Association for Advancing Automation's report in November 2021, a 67% increase in robot orders was noted in North America, totaling 9,853 robots valued at $501 million in Q2 2021. This trend underscores the growing reliance on automation, fueling the growth of hydraulic ironworker machines.

Economic uncertainties are poised to constrain the growth of the hydraulic ironworker machine market in the foreseeable future. These uncertainties can curtail business investments and decisions, impacting demand for these machines in sectors reliant on stable economic conditions. Additionally, currency fluctuations and trade disruptions may influence raw material costs, heightening production expenses and pricing pressures. In April 2023, the International Monetary Fund projected a global growth decrease from 3.4% in 2022 to 2.8% in 2023, with advanced economies expecting a significant slowdown from 2.7% to 1.3%. These economic instabilities forecast a potential hindrance to the hydraulic ironworker machine market's growth.

Key players in the hydraulic ironworker machine market are directing their efforts toward developing innovative offerings such as robust industrial-grade hydraulic press systems to maintain their competitive edge. An industrial-grade hydraulic press is a heavy-duty machine utilizing hydraulic force to compress, shape, or rectify materials. For example, Scotchman Industries Inc., a US-based metal fabrication machinery and equipment manufacturer, introduced the PressPro 110W hydraulic press in September 2022. This American-made hydraulic press caters to industrial-grade tasks such as fabrication, bending, forming, straightening, assembly, maintenance, testing, and quality control. Its construction integrates an industrial-grade hydraulic system with a robust all-steel frame, ensuring durability, strength, and extended service life. The PressPro 110W shop press is designed for precise pressing with features such as movable ram cylinders, a pressure regulator, three ram speeds, lateral movement capability, intuitive joystick operation, and standard V-blocks.

In May 2023, Miller Industries Inc., a US-based automotive towing and recovery equipment manufacturer, completed the acquisition of Southern Hydraulic Cylinder Inc. for $17.5 million. This strategic acquisition is intended to bolster Miller Industries' supply capacity, optimize inventory levels, and address existing order backlogs. Southern Hydraulic Cylinder Inc., a US-based custom hydraulic cylinder manufacturer, specializes in producing hydraulic components integral to hydraulic systems used in hydraulic ironworker machines.

Major companies operating in the hydraulic ironworker machine market report are Robert Bosch GmbH, Roper Whitney, Mubea Group, Peddinghaus Corporation, Ficep Corporation, Jorgenson Machine Tools Inc., GEKA Group, Marvel Manufacturing Company Inc., Scotchman Industries Inc., Baileigh Industrial Holdings LLC, Megafab Engineering Pte Ltd, JMT USA, Cleveland Steel Tool, Quantum Machinery Group, Carell Corporation, Eagle Bending Machines Inc., Prada Nargesa S.L., Uni-Hydro Inc., Elite Metal Tools, Anhui Winying Machinery Manufacturing Co Ltd., Hydro Power Tech Engineering, Sunrise Fluid Power Inc., American Machine Tools Company, Masko Tech Engineers, Rajesh Machines India LLP.

Asia-Pacific was the largest region in the hydraulic ironworker machine market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the hydraulic ironworker machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the hydraulic ironworker machine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The hydraulic ironworker machine market consists of sales of computer numerical control (CNC) ironworkers, mechanical ironworker machines, and standard ironworker machines. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Hydraulic ironworker machines come in two main types such as single-cylinder hydraulic and double-cylinder hydraulic. The single-cylinder hydraulic system employs a singular hydraulic cylinder to generate mechanical motion or force through fluid pressure. These machines offer a range of functions, including punching, shearing, bending, notching, and pressing. Operations can be automatic or semi-automatic, catering to various industry needs such as aerospace, oil and gas, metallurgy, automotive, and food and beverages, among others.

The hydraulic ironworker machine market research report is one of a series of new reports that provides hydraulic ironworker machine market statistics, including hydraulic ironworker machine industry global market size, regional shares, competitors with a hydraulic ironworker machine market share, detailed hydraulic ironworker machine market segments, market trends and opportunities, and any further data you may need to thrive in the hydraulic ironworker machine industry. This hydraulic ironworker machine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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