New York, Sept. 06, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Powder Compacting Pressers Market Size, Share & Trends Analysis Report By Product, By Application, By End Use, By Region And Segment Forecasts, 2020 – 2028” – https://www.reportlinker.com/p06134874/?utm_source=GNW
Powder Compacting Pressers Market Growth & Trends
The global powder compacting pressers market size is expected to reach USD 408.9 million by 2028. It is expected to expand at a CAGR of 3.7% from 2020 to 2028. The rising adoption of powder compacting pressers in the end-use industries, including automobile, military, machining, and aerospace, is anticipated to have a positive impact on the market growth.
Increasing automotive production, mainly in the emerging economies of Asia Pacific, the Middle East, and South America, is projected to aid the market growth. Furthermore, governments across the globe are providing tax incentives to vehicle manufacturers switching to electric standards, in turn, augmenting the demand for powder compacting pressers.
The aerospace and military sectors are the early adopters of powder compacting pressers, thus, lightweight parts made from aluminum, titanium, and steel, are witnessing growth. Products manufactured by these machinery aid in reducing material wastage as compared to the conventional methods, in turn, complementing the equipment demand.
Companies are collaborating with educational institutions to develop processes and technologies offering a sustainable advantage in the future. Rising investments in R&D for the incorporation of advanced technologies, such as artificial intelligence (AI) and the Internet of Things (IoT), in powder compacting pressers are expected to complement market growth.
Powder Compacting Pressers Market Report Highlights
• By product, hydraulic powder compacting pressers are expected to witness considerable growth from 2020 to 2028 owing to their ability to provide versatility in stroke length, die space, and pressure
• In terms of application, the ceramic and cement segment is expected to witness the fastest growth from 2020 to 2028. This is credited to the increasing adoption of powder compacting pressers in the production of ceramic cutting tools due to the high heat resistance and extensive usage in metalworking for extremely hard parts
• The automotive end-use segment held the largest share in 2020 on account of the rising advent of electric vehicles, coupled with the adoption of the equipment to manufacture gears, seals, and magnets
• In 2020, France accounted for 13.8% share in the European market owing to the increasing production of complex parts with high dimensional accuracy and quality in the aerospace industry in the country
• Manufacturers are engaged in collaborations to expand their geographical presence, increase production capacity, and launch new powder compacting pressers using advanced technology
Read the full report: https://www.reportlinker.com/p06134874/?utm_source=GNW
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