Swaging Machine Market Size, Share, and Growth Analysis, By Type (Radial Swaging Machine and Rotary Swaging Machine), By Application (Chemical & Materials, Machinery & Equipment, Automotive, And Others), Regional Insights, and Forecast To 2031

Updated On: 22 April 2024

SWAGING MACHINE MARKET REPORT OVERVIEW

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The global swaging machine market size expanded rapidly in 2022 and the market is projected to grow substantially by 2031, exhibiting a Compound annual growth rate (CAGR) during the forecast (2024-2031). In the market study, our analysts have considered swaging machine players such as Talurit, SAHM SPLICE GmbH, FENN, Comtech North America and Loos and Company.

The global COVID-19 pandemic has been unprecedented and staggering, with swaging machine experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

Swaging equipment, also called swaggers, is a cheap method to effectively point, reduce, and form rods, tubes, and wires. It is a straightforward procedure that involves forming dies around a piece of work and applying a series of extremely quick blows to metal using rotating hammers. It is a very cost-effective way to point tubing, rod, and wire for redrawing, sizing, reducing, shaping, tapering, bonding, and forming metal components that are either hot or cold. Swaging can be done in hot and freezing temperatures, but cold swaging is more common because it makes most materials harder. The procedure strengthens the grain structure, resulting in a part with increased strength and an exceptionally fine finish.

Swaging tools force the work piece into the die to change the diameter of tubes and rods. Swaging is reducing the diameter of the metal by either hammering the die together or inserting the tube shaft into the die. Material loss and material deformation are not a consequence of machines. With precious metals, swaging tools are used because there is no material loss. Swaggers and swaging equipment are frequently thought of as cold-forming procedures, though they can also be used in hot-forming circumstances. The two major categories of machine processes are rotary and tube swaging machines.

COVID-19 Impact: Halt in Production of Equipment Hampered Mining Industry

The COVID-19 pandemic stopped the production of the swaging machine due to the lockdown, which has slowed the expansion of the market. Sales of continuous mining equipment were already impacted by COVID-19 at the beginning of 2020, and sales increased in 2021. Before the outbreak of the coronavirus, the US, Italy, Germany, the UK, and China were among the nations with the highest demand for continuous machinery equipment. However, this demand has since decreased. The upliftment of restrictions is making the market recover from the loss caused by the pandemic.

LATEST TRENDS

"Rising Need for Fabricated Metals to Drive Market Trends"

The need for fabricated metals is increasing across various industries, including aerospace, automotive, and consumer electronics. The wide range of uses for metal fabrication, including everything from paper clips to aero plane parts, is anticipated to fuel industry expansion further. Due to the increased industrial activity in developing economies like China and India, steel fabrication has seen tremendous expansion over the last several years. The increase in building activity has led to an increase in steel fabrication for various applications, including pipe and structure steel.

SWAGING MACHINE MARKET SEGMENTATION

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• By Type Analysis

By type, the market is segmented into radial swaging machines and rotary swaging machines.

• By Application Analysis

Based on application, the market is classified into chemical & materials, machinery & equipment, automotive, and others.

DRIVING FACTORS

"Demand of Various Tools for Metal Formation to Augment Market Growth"

The market for metal forming tools is anticipated to be driven by the rising demand for various forming machines, such as bending, shearing, and pressure. The market for metal-forming machine tools is projected to expand due to the rising need for high-speed machining from various processes, including pressing, forging, and die stamping. Over the past few years, the popularity of automated metal forming tools has increased due to manufacturers' growing focus on increased productivity. Also, the market for metal forming tools is expanding as a result of the surge in demand for greater efficiency, productivity, flexibility, and connectivity.

"Accelerating Demand for High-Speed Machines to Augment Machinery Demand"

Swaging machine is utilized in various processes including forming, bending, punching, forging, shaping, shearing, die stamping, pressing, and punching. The need for swagger tools has increased as a result of a rise in the demand for high-speed machining and highly precise manufactured goods from a variety of industries, including the automotive, aerospace, general machinery, and electronic sectors. Another factor anticipated to fuel the swaging machine market growth is the increase in the use of automated machinery and robots in the industrial sector.

RESTRAINING FACTORS

"Government Initiatives with Compliance Requirements May Hamper Market Growth"

Government has various initiatives associated with compliance requirements and is estimated to be a prime factor restraining swaging machine market growth. 

SWAGING MACHINE MARKET REGIONAL INSIGHTS

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"Asia Pacific to Lead the Market Backed by the Expansion of Construction Industry"

Asia Pacific is estimated to hold a prime contribution in swaging machine market share as the construction and manufacturing industries in the region are increasing.  

North America is anticipated to show significant growth as the region holds a major part of the machinery market. The expanding automotive industry is leading to higher demand for swaging machines, which ensures regional growth.

KEY INDUSTRY PLAYERS

"Key Companies to Emphasis On Gaining Mergers and Acquisitions"

Key market players are focused on strengthening their presence by adopting advanced technologies. The competitors are adopting strategies to gain mergers and acquisitions in the global market. Major players of the market are emphasis on gaining collaborations, mergers, and acquisitions is increasing among leading players. The major market players are striving to maintain partnerships with other key players in the same industry. Gaining partnerships with other companies will develop a strong consumer base in the global market. The key competitors are adopting organic and inorganic growth strategies to surge their market share in the global market. 

List of Market Players Profiled

• Talurit (Sweden)
• SAHM SPLICE GmbH (Germany)
• FENN (Germany)
• Comtech North America (U.S.)
• Loos and Company (U.S.)

REPORT COVERAGE

The market research study offers thorough information on numerous market aspects. The growth drivers, restraints, geographical analysis, competitive environment, and challenges are a few of them. Additionally, it provides an analytical analysis of market trends and projections for various factors to show potential investment areas. From 2024 through 2031, the market is objectively assessed to determine its financial viability. The report's data was compiled using a variety of primary and secondary sources.