Published Date: 30-Jun-2023
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According to a new report, published by KBV research, The Global Isostatic Pressing Market size is expected to reach $13.1 billion by 2030, rising at a market growth of 7.6% CAGR during the forecast period.
The Hot segment is leading the Global Isostatic Pressing Market by Type in 2022 thereby, achieving a market value of $8.8 billion by 2030. Numerous factors are causing the hot isostatic pressing (HIP) segment to expand significantly. There is an increasing need for dependable, high-performance components in the industrial, automotive, aerospace, and energy sectors. HIP technology, which offers advanced manufacturing techniques to improve material characteristics and component performance, has been widely used as a response.
The Services segment has shown the growth rate of a CAGR of 9.8% during (2023 - 2030). The use of isostatic pressing systems in the manufacturing, automotive, energy & power, and medical sectors is expanding, which is helping the isostatic pressing services market growth. Isostatic pressing systems undergo routine inspections to look for discontinuities, flaws, or other faults that can lower operational reliability and cause failures to enhance the quality and dependability of components and configurations.
The Precision Machine Manufacturing segment is generating the highest revenue share in the Global Isostatic Pressing Market by Industry in 2022 thereby, achieving a market value of $2.9 billion by 2030. Since isostatic pressing systems can produce uniform pressure distribution, adapt complex geometries, increase material density for high-density materials, and guarantee consistency and reliability, they are frequently used to manufacture precision machines. Additionally, it improves material characteristics and lowers the need for considerable machining.
The North America market dominated the Global Isostatic Pressing Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $4.2 billion by 2030. The Europe market is estimated to grow at a CAGR of 7.3% during (2023 - 2030). Additionally, The Asia Pacific market would showcase a CAGR of 8.5% during (2023 - 2030).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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