PUBLISHER: The Business Research Company | PRODUCT CODE: 1387636
PUBLISHER: The Business Research Company | PRODUCT CODE: 1387636
“Rolling Mill And Other Metalworking Machinery Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on rolling mill and other metalworking machinery market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for rolling mill and other metalworking machinery? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The rolling mill and other metalworking machinery market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
A rolling mill is a facility where metal is processed into plates and bars through rolling operations. Metalworking machinery, on the other hand, encompasses equipment designed for working with metal workpieces.
The primary categories of rolling mills and other metalworking machinery include wire drawing and fabricating machinery, coil winding and cutting machinery, rolling mill machines, and other related types of machinery. Rolling mill machines are specifically used for rolling metal by employing two rolls. These machines come in various capacities, including small, medium, and large, and find applications in metal manufacturing, machinery and equipment production, automotive manufacturing, and various other industrial uses.
The rolling mill and other metalworking machinery market research report is one of a series of new reports from The Business Research Company that provides rolling mill and other metalworking machinery market statistics, including rolling mill and other metalworking machinery industry global market size, regional shares, competitors with a rolling mill and other metalworking machinery market share, detailed rolling mill and other metalworking machinery market segments, market trends and opportunities, and any further data you may need to thrive in the rolling mill and other metalworking machinery industry. This rolling mill and other metalworking machinery 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 rolling mill and other metalworking machinery market size has grown strongly in recent years. It will grow from $26.14 billion in 2023 to $28.11 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth observed during the historical period can be attributed to factors such as industrialization and construction, the expansion of automotive and aerospace manufacturing, infrastructure development, raw material processing, as well as efforts to enhance quality and efficiency in metalworking processes.
The rolling mill and other metalworking machinery market size is expected to see strong growth in the next few years. It will grow to $36.8 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The projected growth in the forecast period can be attributed to various factors, including the integration of digitalization and Industry 4.0 principles, a focus on sustainability and eco-friendly manufacturing practices, the demand for customization and agile manufacturing, the increased adoption of automation and robotics, and the globalization of manufacturing. Notable trends in the forecast period encompass advanced materials processing, precision and micromachining techniques, the utilization of metal additive manufacturing, the adoption of modular and reconfigurable machinery, and a heightened emphasis on energy-efficient processing.
The increasing demand for steel is set to be the driving force behind the growth of the rolling mill and other metalworking machinery market in the foreseeable future. Steel, a versatile alloy primarily composed of iron and carbon with minor alloying elements, plays a pivotal role in various industries due to its unique combination of strength, durability, and adaptability. Rolling mills are indispensable in the steel industry as they are instrumental in transforming steel ingots or billets into diverse shapes and forms, including sheets, plates, rods, and structural sections. For example, data from the World Steel Association, a Belgium-based trade association, reveals that steel demand is expected to experience a notable rebound of 2.3%, reaching a total of 1,822.3 million metric tons (Mt) in the near future. Additionally, steel demand is projected to exhibit further growth, increasing by 1.7% to a total of 1,854.0 million metric tons (Mt) by 2024. Hence, the surging demand for steel is the primary driver of growth in the rolling mill and other metalworking machinery market.
The rapid advancements in technology are poised to foster innovation within the manufacturing of rolling mills and other metalworking machinery, thus propelling the market in the forecast period. Cutting-edge technologies such as 3D printing, artificial intelligence, and big data analytics are now being integrated into the manufacturing process. This integration results in enhanced productivity, reduced operating costs, and increased profit margins. A global survey conducted by The Economist Intelligence Unit reveals that around 90% of corporate executives are optimistic about the positive impact of artificial intelligence (AI) on a company's growth. Furthermore, 86% of respondents believe that AI will significantly enhance productivity. Reduced operating costs translate to higher profit margins, enabling companies to broaden their product portfolios and enter new markets, thanks to investments driven by cost savings. The incorporation of Internet of Things (IoT) applications further enhances these machines, enabling features like remote monitoring and centralized feedback systems. Mobile applications, advanced sensors, and embedded software offer new opportunities for companies in this market. These factors are expected to stimulate growth in the rolling mill and other metalworking machinery manufacturing market throughout the forecast period.
The outbreak of the COVID-19 pandemic had a significant adverse impact on the rolling mill and other metalworking machinery manufacturing market in 2020. This impact was due to disruptions in supply chains caused by trade restrictions and a decline in consumption as a result of global government-imposed lockdowns. COVID-19, characterized by symptoms resembling the flu, including fever, cough, and respiratory difficulties, emerged in Wuhan, China, in 2019, and rapidly spread across the globe, affecting regions such as Western Europe, North America, and Asia. Manufacturing heavily relies on the supply of raw materials from domestic and international sources. The restrictions on the movement of goods imposed by numerous governments, both domestically and across borders, led to manufacturing disruptions caused by raw material shortages. It is anticipated that the repercussions of the outbreak will continue to affect businesses throughout 2020 and into 2021. Nonetheless, it is expected that the rolling mill and other metalworking machinery manufacturing markets will recover from the shock in the forecast period, as the pandemic is considered a 'black swan' event unrelated to ongoing or fundamental market weaknesses or global economic factors.
Major industry players are actively investing in expanding their global presence to gain access to new markets, diversify their customer base, and reduce supply chain risks. These investments in rolling mills are directed toward establishing or enhancing metalworking facilities and machinery used in processing metal products like sheets and rods through rolling processes. Such investments are made to bolster production capacity and operational efficiency. For instance, Novelis Inc., a US-based provider of industrial rolling and recycling solutions, earmarked $2.5 billion for the construction of a state-of-the-art low-carbon recycling and rolling mill in Bay Minette, Alabama, USA, in May 2022. This advanced facility is projected to yield 600 kilotons of finished aluminum products annually, marking a significant growth phase for Novelis. The investment underscores the company's unwavering commitment to aligning with its customers' requirements and providing sustainable, low-carbon aluminum solutions. This strategic move is driven by the robust demand in North America for flat-rolled, environmentally friendly aluminum, used prominently by beverage companies. It emphasizes the pivotal role of aluminum packaging in sustainability and the circular economy.
Manufacturers of metalworking machinery are introducing 3D laser processing machines to expedite laser cutting and welding applications, reducing processing time significantly. A 3D laser, a sophisticated 5-axis laser machine, facilitates the cutting of sheet-metal components in three dimensions. It is especially adept at cutting various metals, including mild steel, stainless steel, and aluminum. The implementation of laser cutting has proven highly effective in reducing processing time and overall costs. It offers additional advantages such as localized laser energy input, high feed rates, and minimal heat input. 3D lasers are commonly employed in sectors like automotive and aerospace for tasks such as cutting or welding aluminum components, drilling engine parts, and laser surfacing used parts. Notably, laser cutting machines represent the largest segment of the metal cutting machinery market, indicating a substantial increase in the adoption of this technology. Major companies producing 3D laser cutting machines include Mitsubishi Electric, Trumpf, LST GmbH, and Mazak.
Major companies operating in the rolling mill and other metalworking machinery market include TRUMPF Group, Amada Co. Ltd., Mitsubishi Electric, LST GmbH, Mazak, Milacron LLC, Bradbury Co Inc., Standex International Corporation, Greenlee Tools Inc., Kuka Systems North America LLC, American Roller Company LLC, Danieli Corporation, George Koch Sons LLC, Jr Technology Group LLC, Bright Machines Inc., SMS Group GmbH, Primetals Technologies Limited, Fives Group, Andritz AG, Nucor Corporation, JTEKT Corporation, Okuma Corporation, DMG Mori Co Ltd., Makino Milling Machine Co Ltd., Haas Automation Inc., Doosan Machine Tools Co. Ltd., Komatsu Ltd., Mori Seiki Co Ltd., Fanuc Corporation, Siemens AG, ABB Ltd.
The Asia-Pacific was the largest region in the rolling mill market in 2023. Western Europe was the second largest region of the rolling mill market. The regions covered in the rolling mill and other metalworking machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the rolling mill and other metalworking machinery market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The rolling mill and other metalworking machinery market consist of sales of reversing mill, semi continuous mills, continuous mills, and tandem mill. 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.
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.