Rolling mill & metalworking machinery market comprises of the sales of rolling mill and metalworking machinery & related services by several entities that produce the rolling mill and other metalworking machinery. Rolling mill is a specific machine or device used to roll the metals into sheets or bars in different shapes. Rolling mill is generally used to increase the hardness of metal by decreasing the width. They are typically used in steel industry to shape various products like angle stock, rails, bar stock, channel stock and I-beams. They are also be used to impose the patterns on metals. Additionally, rolling mills are also used in the creation of furniture for bending the straight metal sheets into curved formats. Rolling mills increase the speed of production and therefore are cost effective in the long-run.
As per analysis, “Rolling Mill And Other Metalworking Machinery Global Market Report 2020-30: Covid 19 Impact and Recovery” some of the renowned companies that are currently operating in the global rolling mill & other metalworking machinery market are Amada Co Ltd; TRUMPF Group; Mitsubishi Electric; Mazak; LST GmbH and among others. These renowned players focus on mergers & acquisition (M&A) and business alliances. Moreover, players are also focusing on innovative technologies.
Based on type, rolling mill and other metalworking machinery market is segmented as coil winding & cutting machinery, wire drawing & fabricating machinery, rolling mill machines and others. In addition, based on application, market is segmented as machinery & equipment, metal, automotive and others.
Rise in demand for manufactured industrial products with high precision finish in end-use industries, followed by rapid industrialization & technological advancements in the mill manufacturing technologies & processing equipment are some major factors, which are responsible for growth of rolling mill and metalworking machinery market. Additionally, environment friendly nature of roller mills machine in terms of the recyclability & low waste generation is another driving factor for the adoption of roller mills. Apart from this, fluctuations in prices of raw materials and increase in competition from substitutes may impact the market. Moreover, rise in advancements in ongoing research & development (R&D) activities to develop effective, innovative, and cheaper roller mills machines is a leading opportunity for market. Furthermore, rise in demand for superior quality products & computer numerical control (CNC) machines are major trend for market.
Based on geography, the Asia-Pacific is a leading region in global rolling mill and other metalworking machinery market owing to rapid urbanization, increase in income of people living in urban areas and significant rise in industrial applications across the region. The North-America and Europe regions are estimated to witness higher growth rate due to growth in construction industry coupled with significant growth in automotive & transportation industry over the forecast period. It is predicted that future of the global rolling mill and other metalworking machinery market will be bright as a result of growth in the infrastructure development with developing economies during the forecast period.
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Ankur Gupta, Head Marketing & Communications