Popularity of Coil-Fed Machines Rising Due to Their Faster Production Rates and Less Material Waste Compared to Traditional Methods
Rockville, MD, Sept. 02, 2024 (GLOBE NEWSWIRE) — Fact.MR, a market research and competitive intelligence provider, through its recently updated market analysis, reveals that revenue from the global Coil-fed Punching and Cutting Machine Market is projected to reach US$ 115.4 million in 2024 and subsequently expand at 8.6% CAGR through 2034.
Continuous improvements in punch press technology, control systems, and cutting mechanisms are enhancing the capabilities of machines. New applications are being made possible by the combination of laser cutting and traditional punching. Increasing use of automated manufacturing processes is driving the need for coil-fed equipment. Integration of IoT capabilities and smart technologies is enabling improved control, predictive maintenance, and monitoring.
Coil-fed machines provide reduced material waste and faster production rates when compared to conventional techniques. Manufacturers are looking for methods to improve efficiency in their operations, which makes these investments attractive. Growing demand for customized products calls for equipment that can quickly adapt to changing needs, and programmable controls and quick changeover times are common features of coil-fed machines, which is driving their sales worldwide.
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Key Takeaways from the Market Study:
- The global market for coil-fed punching and cutting machines is forecasted to reach US$ 263.3 million by the end of 2034.
- The United States is forecasted to reach a market value of US$ 23.9 million in 2024.
- China is set to occupy a market share of 48.9% in East Asia in 2024.
- Revenue generated from the sales of coil-fed punching and cutting machines in Japan is estimated to reach US$ 6.1 million in 2024.
- The market in North America is forecasted to expand at a CAGR of 2.6% from 2024 to 2034.
“Growth of the aerospace, construction, and automotive industries is driving up demand for precision-cut metal components such as coil-fed punching and cutting machines,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Coil-fed Punching and Cutting Machine Market:
Produtech s.r.l; DIMECO; Pivatic Oy; HACO; Dallan S.p.A.; DANOBAT GROUP; Wuxi Qingyuan Laser Technology Co. Ltd; DANOBAT.
Punching Machines Less Costly to Operate Than Other Technologies:
Punching machines are easily incorporated into automated production lines, which increases productivity. Punching machines frequently produce less material waste than some other cutting techniques, which is advantageous from both an economic and environmental standpoint. In some applications, punching machines are less expensive to operate than other technologies such as laser cutting.
Additionally, they provide manufacturers with design flexibility by enabling the creation of intricate shapes and patterns. Punching tools typically have a long lifespan, which lowers the need for replacements and related expenses. Punched components play a major role in the automotive, aerospace, and electronics sectors, which propel market expansion.
Coil-fed Punching and Cutting Machine Industry News:
- A 3kW fibre laser cutting machine, part of the LASER ISSE F3000 RS Turccut LP family, was installed in September 2023 by Staycold, a reputable South African company that primarily produces standalone commercial refrigerators and freezers for the hospitality and beverage industries. The company also purchased a Hugong hand-held fibre laser welder and a Cannon injection foaming machine to aid the foaming division in thoroughly insulating the cabinets.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the coil-fed punching and cutting machine market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges the coil-fed punching and cutting machine market based on type (punching machines, cutting machines, combined machines), drive type (hydraulics, servo electrics), and end use (automotive, railways, aerospace & defense, electronics, consumer goods, HVAC), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
Segmentation of Coil-fed Punching and Cutting Machine Market Research:
By Type :
- Punching Machines
- Cutting Machines
- Combined Machines
By Drive Type :
- Hydraulics
- Servo Electrics
By End Use :
- Automotive
- Railways
- Aerospace & Defense
- Electronics
- Consumer Goods
- HVAC
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