The Europe Isostatic Pressing Market would witness market growth of 7.3% CAGR during the forecast period (2023-2030).
Due to its lightweight, corrosion resistance, and high strength, titanium along with its alloys are perfect for usage in a variety of automotive applications. Manufacturers and designers have been urged to adopt titanium-welded tubes and titanium tubes as the emphasis on automotive weight reduction grows. The hot isostatic pressing (HIP) procedures guarantee less expensive and quicker manufacture than traditional methods, lowering the cost of producing titanium alloys and other superalloys.
The European market has aided the UK automotive industry with its diverse goods, which cover luxury, niche, and volume automobiles, and its highly connected supply chains and significant demand for cars developed in the UK throughout the continent. 50% of all British vehicle exports go to the European Union in total.
German automakers create and sell the most passenger cars in Europe, accounting for roughly 25% of all vehicles manufactured and 20% of all new registrations. Germany has the largest number of OEM factories in Europe, which is notable. Moreover 15.6 million automobiles were produced by the German automotive sector in 2021. Additionally, a sizable 20% of the top 75 automotive suppliers regional are German firms. The automotive sector in the surrounding countries is constantly expanding, which presents huge potential for the market in this region.
The Germany market dominated the Europe Isostatic Pressing Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $865.2 million by 2030. The UK market is showcasing a CAGR of 6.4% during (2023 - 2030). Additionally, The France market would exhibit a CAGR of 8.2% during (2023 - 2030).
Based on Type, the market is segmented into Hot (Large-Sized Pressing, Medium-Sized Pressing, and Small-Sized Pressing), and Cold (Dry-Bag Pressing, and Wet-Bag Pressing). Based on Offering, the market is segmented into Solution, and Services. Based on Industry, the market is segmented into Precision Machine Manufacturing, Automotive, Aerospace & Defense, Electronics & Semiconductor, Energy & Power, Research & Development, Medical, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Isostatic Pressing Market is Projected to reach USD 13.1 Billion by 2030, at a CAGR of 7.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Kobe Steel, Ltd., Bodycote plc, Kennametal Inc., Nikkiso Co., Ltd, Dorst Technologies GmbH & Co. KG, American Isostatic Presses, Inc., EPSI International, Pressure Technology, Inc., Shanxi Golden Kaiyuan Co., Ltd., and MTC Powder Solutions AB (Metal Technology Co. Ltd.)
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