Cold Heading Machine is Estimated to Witness High Growth Owing to Increasing Automotive Production
Cold Heading Machine Market |
Cold heading machines are used for manufacturing metal
fasteners like screws, nuts, bolts and rivets through a process called cold
heading. Cold heading involves pressing or forcing rod-like stock material
under high pressure into a pre-formed die at room temperature without any
softening due to heating. These machines help producers manufacture metal
components with intricate geometries in high volumes at reduced costs. They
find widespread use in automotive, aerospace, industrial machinery and other
manufacturing industries for mass production of standard metal parts.
The global cold heading machine market is estimated to be
valued at US$ 3557.05 Mn in 2023 and is expected to exhibit a CAGR of 13% over
the forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market Dynamics:
The Cold Heading Machine Market is projected to witness high growth owing to
increasing automotive production across the globe. One of the major drivers of
this market is increasing vehicle production as cold headed fasteners are
extensively used in the automotive industry for manufacturing engine
components, transmission parts, suspension components and other small metallic
parts. According to OICA, global vehicle production increased by approximately
4% from 93.39 million units in 2020 to 97.21 million units in 2021. Rising
demand for both commercial and passenger vehicles along with increasing
stringency of emission and fuel economy norms worldwide are prompting automakers
to replace metal components with lighter and high strength versions which is
driving demand for cold headed fasteners and machines. The extensive use of
cold headed parts in the automotive industry due to their corrosion resistance,
dimensional consistency and ability to provide complex geometries at economical
costs is fueling revenue growth of the cold heading machine market over the
forecast period.
SWOT Analysis
Strength: Cold heading machine has high demand from automotive industries. The
automotive industry is the largest consumer of cold-formed parts produced
through cold heading machines. Cold heading process enables production of
complex geometries and close dimensional tolerances. It can shape any ferrous
or non-ferrous metal such as steel, aluminum, brass or copper alloys without
producing burrs or flashes and in high volumes with repeatable quality.
Weakness: High initial investment is required to set up a cold heading machine
facility. Cold heading machines require frequent maintenance and have high
operating costs. Changes to produce different parts require additional time and
money spent on tooling adjustments.
Opportunity: Growing automotive industry especially in Asia Pacific region
boosts the demand for cold heading machines. Production of small complicated
parts for industries such as electronics and medical also presents growth
opportunity. Development of new aluminum alloys expand the applicable metal
range for cold heading process.
Threats: Substitutes such as CNC machining poses threat for mass production of
standard parts. Economic slowdowns impact the automotive sales lowering the
demand for cold heading machines. Trade barriers and restrictions affect the
international suppliers.
Key Takeaways
The global Cold Heading Machine market is expected to witness high growth. The
global cold heading machine market is estimated to be valued at US$ 3557.05 Mn
in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023
to 2030.
Asia Pacific region dominates the global cold heading
machine market and is expected to grow at the fastest CAGR during the forecast
period. Growing automotive production in China, India, and Japan drives the
cold heading machine demand in Asia Pacific.
Key players related content comprises Key players operating in the Cold Heading
Machine market are Gevo, Inc., Red Rock Biofuels LLC, Honeywell International
Inc., Virent Inc., Fulcrum BioEnergy, Inc., Neste Oil Corporation, AltAir
Paramount LLC, S.G. Preston Company, SkyNRG BV, Eni SpA Total S.A., and BP PLC.
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