Global Cold Heading Machine Market - Segmented by Equipment, Tooling, End-use Industry, and Geography - Growth, Trends and Forecast (2018 - 2023)
The global Cold Heading Machine market is estimated to witness moderate growth during the forecast period. Cold heading is the process of forming the heads of rivets, wood screw blanks, machine screw blanks, and similar products, by employing different techniques, like upsetting, forward extrusion and backward extrusion, along the lengths of the wire when it is cold. The equipment that enables this process is called a cold-header, where the wire is fed from a coil into the machine and in which it is cut off and headed.
Increasing Demand from Various End-user
The cold heading machinery offer solutions to both the product manufacturing companies, as well as suppliers. Based on the sectors served by the cold heading machines, the services/solutions offered can be categorized into four segments namely, automotive, aerospace & defense, electrical & appliances, and industrial. The market has more relevance today since the trends show that there is an immense growth in the usage of industrial products. Cold-headed machinery is specifically inclined towards manufacturers who are looking for reliable part production with economical savings.
Automotive Segment is expected to have Major Application
The automobile market accounted for more than 30% share of the global cold heading machinery market in 2017. This market is driven by numerous factors such as, growth in automotive industry and the rising demand for machine tools. Over the upcoming future, we expect significant investments to flow into the automobile market, particularly in the component and new production centers. Advancement in technology, policies related to climate change and shifting consumer preferences are driving the demand for environment friendly, fuel efficient, and smart vehicles. In particular, the medium term outlook remains strong for hybrid vehicles.
North America to Witness Highest Growth
North America is expected to dominate the market during the forecast period followed by Europe and Asia-Pacific. Asia-Pacific is expected to have the highest CAGR during the forecast period. This is because the emerging economies in the countries of this region have made this market, an area of immense potential and opportunities. Beside this, the demand for commercial vehicle is also expected to surge across emerging markets, driven by recovering economic conditions. In particular, growth in construction activity in various regions will drive the demand for heavy trucks, buses, and other commercial vehicles. This, in turn, is expected to drive the market for cold heading
Major Players: Chun Yu Group (Chun Zu Machinery Ind. Co. Ltd.), GFM, Wrentham Tool Group LLC, Sakamura USA Inc., and Hatebur Umformmaschinen AG, amongst others.
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