July 22, 2024
Cold Heading Machine Market

Cold Heading Machine Market Estimated To Witness High Growth Owing To Growing Automotive Industry

The 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.

Market Overview:
Cold heading machines are used to produce precise metal parts by pushing or drawing metal stock through a die opening under force without cutting or melting the metal. Parts made on cold heading machines find uses in automotive components, fasteners, hardware components among others. Rapidly growing automotive sector is driving demand for precision cold headed parts which is fueling growth of the cold heading machine market.

Market Dynamics:
Growing automotive industry is one of the key factors driving growth of the cold heading machine market. Manufacturing of cold headed components such as bolts, pins and precision nuts & screws has increased significantly owing to their widespread application in automotive engines and transmissions. According to International Organization of Motor Vehicle Manufacturers, vehicle production across major countries increased from 93.92 million units in 2017 to 93.98 million units in 2018. Rising vehicle production is augmenting demand for cold headed components thereby accelerating sales of cold heading machines globally.

High precision achieved through cold heading process without significant material waste is another factor fueling adoption of cold heading machines. Cold heading process results in near net shape parts with reproducibility and consistency. It offers design flexibility for intricate geometries and near zero scrap generation. Such advantages have bolstered popularity of cold heading machines across automotive as well as non-automotive industries such as fasteners manufacturing.

SWOT Analysis
Strength:
– Cold heading process produces complex shapes accurately as per requirements.
– Cold heading machines can manufacture quality products at high speed with close tolerance and dimensional accuracy.
– They are economical for mass production as compared to other manufacturing techniques.

Weakness:
– Initial investment cost of cold heading machines is very high.
– Technical expertise and skilled operators are required to operate cold heading machines.

Opportunity:
– Growing demand from automotive industry for superior strength fasteners and auto components offers lucrative growth opportunities.
– Increasing focus on reducing machining steps to lower production costs presents an opportunity for cold heading machines.

Threats:
– Availability of substitutes like casting, forging, stamping poses threats.
– Intense competition among manufacturers limits the pricing flexibility of players.

Key Takeaways
The global Cold Heading Machine Market Growth is expected to witness high growth, exhibiting CAGR of 4.5% over the forecast period, due to increasing demand from automotive industry for advanced fasteners and auto parts.

Regional analysis:
The Asia Pacific region dominated the global cold heading machine market in 2023, accounting for around 35% of the overall shares, owing to robust presence of automotive and fastener manufacturing companies in China, India, Japan and other emerging economies in the region. China is expected to retain its leading position as largest cold heading machine market during the forecast period, powered by rising automotive production and presence of domestic machine manufacturers in the country.

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.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it