Extrusion Presses Market Size, Share, Growth, And Industry Analysis, By Type (Metal Extrusion Presses and Plastic Extrusion Presses), By Application (Automotive, Hardware Tools, Engineering Machinery and Others), and Regional Forecast By 2031

Updated On: 22 April 2024

Extrusion Presses Market Report Overview

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The global extrusion presses market size was USD 863.3 million in 2022, as per our research, the market is expected to reach USD 1250.83 million in 2031, exhibiting a CAGR of 4.2% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the extrusion presses market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Extrusion presses are specialized devices used in the industrial sector to produce goods having a consistent cross-sectional profile. They are frequently employed in the metalworking sector, particularly for the manufacturing of various kinds of metal profiles and components. Extrusion is the technique of forcing a billet—a heated and softened material—through a die that has a predetermined form and size. The material is pushed through the die with the force required by the press, producing the correct cross-sectional shape.

There are various reasons why the market for the presses is expanding. First off, there is a growing need for precise and efficient extrusion operations due to the demand for lightweight and high-strength metal components in sectors such as construction, aerospace, and automotive. Additionally, improvements in extrusion technology have increased productivity and process control through the creation of automated controls and automation. The market for extrusion is also developing due to the increasing use of aluminum and other non-ferrous metals in various applications.

COVID-19 Impact: Travel Restrictions Hampered the Manufacturing and Delivery of Press Equipment

The pandemic affected the availability of raw materials and components needed for extrusion, as well as the entire worldwide supply chain. The manufacturing and delivery of the press equipment were hampered by delays and shortages brought on by travel and trade restrictions. The market for extrusion was influenced by brief shutdowns and decreased industrial activity in a number of industries. Lockdowns and economic uncertainty posed problems for sectors such as automotive, construction, and aerospace, which are key users of extruded materials.

Latest Trends

"Implementation of Sophisticated Control Systems with AI to Boost Productivity and Reduce Downtime"

Manufacturers of extrusion are implementing sophisticated control systems with artificial intelligence (AI) and machine learning skills. These technologies make it possible to optimize the extrusion process parameters and do predictive maintenance in real-time, which boosts productivity, quality, and minimizes downtime. The industry's dedication to effectiveness, sustainability, and sophisticated manufacturing procedures is demonstrated by these creative advances in the presses market. To keep up with changing consumer demands and boost overall efficiency, manufacturers are always looking into new technologies and methods.

Extrusion Presses Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into metal extrusion presses and plastic extrusion presses.

• By Application Analysis

Based on application, the market can be divided into automotive, hardware tools, engineering machinery and others.

Driving Factors

"Growing Need for Lightweight Materials is Growing the Market Demand for the Presses "

The growing need for lightweight materials across a range of industries is one of the key growth reasons for the presses industry. Due to their high strength-to-weight ratio and efficiency in terms of energy use, lightweight materials such as aluminum alloys and composites are in demand in sectors such as automotive, aerospace, and construction. To fulfill the demand for lightweight constructions and lower fuel consumption, presses are essential in shaping and molding these lightweight materials into intricate shapes and components.

"Expansion of Infrastructure and Construction Projects is Increasing the Need for the Presses "

The demand for extruded profiles and components is being driven by the growth of infrastructure and construction projects around the world. Extrusion presses are used in the building sector to create structural elements such as window frames, curtain walls and railings as well as pipes and tubes for electrical and plumbing systems. The demand for extruded items in the construction industry is driving the expansion of the presses industry along with rising urbanization, infrastructure development, and renovation projects in developed regions.

Restraining Factors

"Significant Initial Capital Investment Needed to Set Up the Machinery Might Limit the Market Growth "

The significant initial financial outlay needed to buy and set up the press machinery is one issue limiting the extrusion presses market growth. Extrusion can be very expensive, especially when additional hardware, tooling, and installation costs are included. This may be difficult, particularly for small and medium-sized businesses (SMEs) with constrained funding sources. Some organizations may be discouraged from implementing presses or upgrading their current equipment due to the high initial investment costs, which could in part restrain market growth.

Extrusion Presses Market Regional Insights

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"Quick Industrialization and Economic Development Are Increasing the Demand for the Machinery in the Region "

The extrusion presses market share has been dominated by Asia Pacific for a number of reasons. First off, the area is home to a sizable number of manufacturing sectors, such as the consumer goods, aerospace, construction, and automotive industries, all of which are key consumers of extruded items. The strong demand for the presses is partly due to the quick industrialization and economic development of nations such as China, India, Japan, and South Korea. Asia Pacific also benefits from a strong supply chain infrastructure, a trained labor force, and a welcoming business environment, which draw investments from both domestic and foreign extrusion makers. Its dominance in the market has also been further strengthened by the presence of top extrusion manufacturers in the area.

Key Industry Players

"Key Players Focus on R&D to Improve the Effectiveness and Adaptability of their Machines "

Different techniques are being used by businesses to dominate the extrusion market. They are concentrating on R&D to improve the functionality, effectiveness, and adaptability of their machines. To increase efficiency and decrease downtime, businesses are investing in modern manufacturing technologies and automation. Additionally, they are increasing their global presence through strategic alliances, joint ventures, and acquisitions. To obtain a competitive edge and sustain market supremacy, competitors are also providing extensive after-sales services, offering tailored solutions, and building strong customer relationships.

List of Market Players Profiled

• Presezzi Extrusion (Italy)
• SMS (Germany)
• SIDDHARTH EXTRUSION PRESSES (India)

Report Coverage

This report covers the extrusion presses market. The CAGR expected to be in during the forecast period, and also the USD value in 2022 and what it is expected to be in 2031. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.