Hydraulic Ironworker Machine Market Size, Share, Trends, Growth 2030

Hydraulic Ironworker Machine Industry Prospective:

The global hydraulic ironworker machine market size is projected to grow USD 10.89 Billion in 2022 and is further predicted to grow to about USD 14.35 Billion, with a compound annual growth rate (CAGR) of approximately 3.9 percent over the forecast period.

The report analyzes the hydraulic ironworker machine market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the hydraulic ironworker machine industry.

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Hydraulic Ironworker Machine Market: Overview

A hydraulic ironworker machine is used to notch, shear, cuts, form, bend, and punch holes in steel plates, metals, bar stocks, angle iron, and pipes. Hydraulic ironworker machines deal with channels, plates, angles, square bars, and round bars. These machines have several benefits, including low energy usage, ease of operation, and minimal maintenance costs. In manufacturing plants like electric power, aerospace & military, metallurgy, communications, and bridges, these machines may be chosen as equipment for metal processing. Hydraulic ironworker machines are also commonly seen in fabrication shops and commercial production plants.

Key Insights

• As per the analysis shared by our research analyst, the global hydraulic ironworker machine market is expected to grow annually at a promising CAGR of around 3.9% during the forecast period 2023-2030.
• In terms of revenue, the global hydraulic ironworker machine industry size was valued at around USD 10.89 billion in 2022 and is further predicted to grow to about USD 14.35 billion by 2030, with a compound annual growth rate (CAGR) of approximately 3.9 percent over the forecast period.
• The hydraulic ironworker machine market is mainly driven by its extensive application in various manufacturing industries such as military and defense, electric power, metallurgy, communications, and aerospace. Thus, rapid urbanization, military expenditure, growth of the economy of various countries, and increase in industrialization propel the growth of the market
• Based on industry vertical, the oil & gas segment held the largest market share in 2022.
• Based on type, the double cylinder hydraulic segment held the dominating market share in 2022.
• Based on application, the metal fabrication segment is predicted to grow at a significant CAGR during the forecast period.
• Based on region, the Asia-Pacific region held the dominating market share in 2022.

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COVID-19 Impact:

Due to the government's lockdown and poor demand from metal processing businesses, demand for hydraulic ironworker machines declined in 2020. Protracted lockdown in key major countries has interrupted the manufacture of numerous items in the ironworker's sector. This has slowed the expansion of the hydraulic ironworker machine market in recent months. However, the global economy is recovering and many manufacturing industries are functioning to their full potential which is expected to boost the market growth over the forecast period. 

Hydraulic Ironworker Machine Market: Growth Drivers

Increasing use of hydraulic ironworker machines in the worldwide manufacturing industry is expected to boost market growth.

The need for hydraulic ironworker machines has been fueled by the increasing usage of hydraulic ironworker machines in the worldwide industrial industry. During the projected period, a significant increase in manufacturing production, development, and expansion is likely to be a major driver of the global hydraulic ironworker machine market. Hydraulic ironworker machines are developed with high-quality electric components that offer durability, efficiency, and trouble-free performances, which helps to avoid the formation of waste materials. These components also allow for a high feed rate in a variety of production processes. Furthermore, as businesses embrace more automation, the need for hydraulic ironworker machines in the industrial sector will increase exponentially.

Hydraulic Ironworker Machine Market: Restraints

High-cost factors may hamper the growth of the market.

Components used in hydraulic ironworker machines are costly as they are assembled to provide better quality and efficiency for long duration in manufacturing companies. However, startups or small-sized companies cannot afford such high-cost machinery which is primarily slowing the adoption of this machinery in low-income and developing countries.

Hydraulic Ironworker Machine Market: Opportunities

To keep the market thriving, new products are being introduced which is likely to offer great opportunities for market expansion.

The introduction of new generation technologically sophisticated items has the potential to increase the market growth. Many such goods with distinctive features have been introduced to the market in recent years. GEKA, a German business, introduced a new 60 S/SD hydraulic ironworker machine in 2019. For the bending of iron rods, it is utilized by metal fabricators and construction businesses. It contains two hydraulic cylinders that may be used for bending, notching, shearing, cutting, and angle cutting, among other things. This is a new generation of hydraulic workers machine that is simple to operate and saves money & energy.

Hydraulic Ironworker Machine Market: Challenges.

Technological barriers pose major challenge for the global market

Hydraulic ironworker machines are a type of machine tool that has numerous functions such as shearing, cutting, punching holes, and so on. In the steel fabrication business, it is one of the most useful machines. Because it is a single machine that performs several tasks there are chances the machine operations can go wrong. Technical concerns with hydraulic circuits, leaks, temperature, and operational speed can result in major losses. Hence such technical issues may slow down the adoption of hydraulic ironworker machines over the forecast period.

Hydraulic Ironworker Machine Market: Segmentation

The global hydraulic ironworker machine market is segmented based on industry vertical, type, application, and region.

Based on type, the market is segmented into single cylinder hydraulic and double cylinder hydraulic. The double cylinder segment held the dominating market share in 2022 and is further predicted to grow rapidly at a dominant CAGR during the forecast period. The major reason for the growth of this segment is that these double-cylinder hydraulics are extensively used in variant applications where the needed stroke lengths and thrusts are much greater than those that can be attained from single cylinder hydraulics. These factors drive the growth of the segment during the forecast period.

Based on application, the market is bifurcated into construction, metal fabrication, and others. The metal fabrication segment held the largest market share in 2022 and is further anticipated to cite a notable CAGR during the forecast period. The main reason for the growth of this segment is that hydraulic ironworkers are widely used in various metal processing industries, fabrication shops, and numerous other places to punch holes in metal sheets. Besides, hydraulic ironworker machines are ideally used in heavy metal fabrication processes such as bending, cutting, shearing, and others.

By industry vertical, the market is categorized into aerospace, automotive, oil & gas, metallurgic, food & beverages, and others. The oil & gas segment holds over 30 percent shares in the overall market.

Recent Developments

• In November 2022, DDM Machinery, an innovative China-based hydraulic ironworker machines manufacturer, announced that they have launched a new range of hydraulic ironworker machines that are ideal for numerous steel fabrication processes as it is equipped with various functionalities such as cutting, shear, punch holes, and others. These products are provided with a two-year warranty.
• In 2019, GEKA, a dominant German company announced the launch of its new hydraulic ironworker machine called the 60 S/SD hydraulic ironworker machine. The product is equipped with 2 hydraulic cylinders and is capable of managing multiple applications including notching, bending, cutting, shearing, and angle cutting. It is used by metal manufacturers and construction businesses for bending iron rods.

Hydraulic Ironworker Machine Market Report Scope:

Hydraulic Ironworker Machine Market: Regional Landscape

Asia Pacific likely to witness substantial growth during the forecast period

Asia Pacific led the global hydraulic ironworker machine market with more than 30 percent of the shares. Major revenue contributing economies such as India, China, Japan, and South Korea are primarily contributing to the huge share of the global market. Industries in these countries especially India and China are expanding at a rapid rate, creating enormous opportunities for the expansion of the market. North America is expected to contribute significant revenue in the global market during the forecast period. Well-developed metal industry in the United States is primarily contributing to the regional market growth.

Hydraulic Ironworker Machine Market: Competitive Landscape

Key players functioning in the global hydraulic ironworker machine market include:

• Carell Corporation
• American Machine Tools Co.
• PRADA NARGESA S.L.
• JMT USA
• Elite Metal Tools
• Bhavya Machine Tools
• Scotchman Industries Inc.
• Anhui Wenying Machinery Manufacturing Co. Ltd.
• Rajesh Machines India LLP
• Nargesa
• GEKA Group
• JMT USA
• Masko Tech Engineers
• Sunrise Fluid Power Inc.
• Jinan DP Info Tech Co. Ltd.

Global hydraulic ironworker machine market is segmented as follows:

By Industry Vertical

• Aerospace
• Oil & Gas
• Metallurgic
• Automotive
• Food & Beverages
• Others

By Type

• Single cylinder hydraulic
• Double cylinder hydraulic

By Application

• Construction
• Metal fabrication
• others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa