Roll Forming Machines Market Size Worth $121.56 Million by 2023
Key suggestions from the report:
Roll forming machines are extensively used in the automotive industry to make automotive parts such as rocker panels, bumpers, door beams, crash tubes, and other applications. This is mainly due to the ability of roll forming machines to develop high tensile strength with reduced cost. Thus, the demand for roll forming machines in the automotive industry is expected to increase significantly, thereby fueling the roll forming machines market growth during the forecast period.
The roll forming machines market has been witnessing significant technological advances over the last few years. Technological advances such as the emergence of automated servo-electric roll forming machines are aiding the metal forming industry to simplify its metal forming process, and ensure a high level of security. The modern robotic roll forming machines make use of control units and sensor technology for quality control and tools changeovers. Thus, the technological advances in roll forming machine will fuel the growth of the market during the forecast period.
- Automotive industry represented over 38% of the overall volume in 2018 because of the increasing investments in the automotive industry by Asian countries such as Indonesia, India, and Japan toward acquiring new technologies.
- Manufacturing industry is likely to register a CAGR of close to 4% in terms of revenue from 2019 to 2023 owing to the expansion of manufacturing plants.
- Construction industry commanded close to 27% of specialty tapes volume share in 2017, owing to the increasing number of new constructions in several developed and emerging countries across the world.
- The Asia Pacific roll forming machines market accounted for more than 38% of the overall revenue in 2018, because of the continued contribution from markets in China, India, Japan, Vietnam, South Korea, Australia, and Malaysia.
- Presence of many players and the technological advances in roll forming machines by manufacturers are bolstering the competitive rivalry in the market. This roll forming machines market study provides detailed analysis of the competitive landscape of this market.
Roll forming machines are extensively used in the automotive industry to make automotive parts such as rocker panels, bumpers, door beams, crash tubes, and other applications. This is mainly due to the ability of roll forming machines to develop high tensile strength with reduced cost. Thus, the demand for roll forming machines in the automotive industry is expected to increase significantly, thereby fueling the roll forming machines market growth during the forecast period.
The roll forming machines market has been witnessing significant technological advances over the last few years. Technological advances such as the emergence of automated servo-electric roll forming machines are aiding the metal forming industry to simplify its metal forming process, and ensure a high level of security. The modern robotic roll forming machines make use of control units and sensor technology for quality control and tools changeovers. Thus, the technological advances in roll forming machine will fuel the growth of the market during the forecast period.
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