Market Trends of Cold Heading Machine Industry
This section covers the major market trends shaping the Cold Heading Machine Market according to our research experts:
Electrical Industry to Witness the Highest Growth
- In recent years, the electrical industry in developing countries increased at a significant rate.
- The appliance industry benefits through cold heading machinery by manufacturing gears and fasteners for assembly.
- Cold heading avoids porosity, segregation, large inclusions, and other cast part defects, making cold heading parts highly unlikely to leak under high pressures. Thus, this factor makes cold heading a perfect choice for a few high-pressure and hydraulic components, like rod ends and ports for 3,000 psi cylinders, which may be replaced with bar stocks that are leakage-proof.
- The electrical industry uses cold heading machinery for manufacturing cold-headed electrical contact rivets. The most popular ones are solid and bi-metallic. On special occasions, electrical appliances also require custom cold-headed parts such as rivets and fasteners.
- Thus, the above-mentioned factors are expected to drive the demand for cold heading manufactured materials, which may increase the demand for cold heading machines in electrical applications. Therefore, the segment is expected to witness the highest growth in the future.
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Asia-Pacific is Expected to Dominate the Market
- Asia-Pacific dominated the overall market with a share of more than 55%. The market's growth is expected to be driven by the growing end-user industries, such as automotive, construction, electronics, and aerospace.
- Increasing demand for cold heading machines from construction and electronics sectors in countries, such as India and China, is the key driving factor for the Asia-Pacific market.
- The production of heavy equipment and machinery in China is also growing moderately. High-end manufacturing control machinery and robotics are one of the 10 priority sectors of the Made in China 2025 policy. This policy aims to improve the quality of Chinese robotics and automation.
- Hence, based on the above-mentioned factors, Asia-Pacific is expected to dominate the overall market.
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