Rolling Mill And Other Metalworking Machinery Market Size, Top Key Players, Growth, Trend Analysis And Forecast To 2033

The rolling mill and other metalworking machinery market size has grown strongly in recent years. It will grow from $26.14 billion in 2023 to $28.11 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to industrialization and construction, automotive and aerospace manufacturing, infrastructure development, raw material processing, quality and efficiency improvement.

The rolling mill and other metalworking machinery market size is expected to see strong growth in the next few years. It will grow to $36.8 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to digitalization and industry 4.0 integration, sustainability and eco-friendly manufacturing, customization and agile manufacturing, automation and robotics integration, globalization of manufacturing. Major trends in the forecast period include advanced materials processing, precision and micromachining, metal additive manufacturing, modular and reconfigurable machinery, energy-efficient processing.

Market Overview -
Rolling mill refers to an establishment where metal is rolled into plates and bars. Metalworking Machinery refers to a type of equipment that's designed specifically for metal workpieces.

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Steel Demand Surge Fuels Growth In The Rolling Mill And Metalworking Machinery Market
The rising demand for steel is expected to propel the growth of the rolling mill and other metalworking machinery market going forward. Steel is a metal alloy composed primarily of iron and carbon, along with small amounts of other elements, and is widely used in the world due to its combination of strength, durability, and versatility. Rolling mills play a crucial role in the steel industry, where they are used to convert steel ingots or billets into various shapes and forms, including sheets, plates, rods, and structural sections. For instance, in April 2023, according to the World Steel Association, a Belgium-based trade association, steel demand is predicted to rebound by 2.3%, reaching a total of 1,822.3 million metric tons (Mt). Moreover, steel demand is projected to grow by 1.7% to a total of 1,854.0 million metric tons (Mt) in 2024. Therefore, the rising demand for steel is driving the growth of the rolling mill and other metalworking machinery market.

Competitive Landscape -
Major companies operating in the rolling mill and other metalworking machinery market include TRUMPF Group, Amada Co. Ltd., Mitsubishi Electric, LST GmbH, Mazak, Milacron LLC, Bradbury Co Inc., Standex International Corporation, Greenlee Tools Inc., Kuka Systems North America LLC, American Roller Company LLC, Danieli Corporation, George Koch Sons LLC, Jr Technology Group LLC, Bright Machines Inc., SMS Group GmbH, Primetals Technologies Limited, Fives Group, Andritz AG, Nucor Corporation, JTEKT Corporation, Okuma Corporation, DMG Mori Co Ltd., Makino Milling Machine Co Ltd., Haas Automation Inc., Doosan Machine Tools Co. Ltd., Komatsu Ltd., Mori Seiki Co Ltd., Fanuc Corporation, Siemens AG, ABB Ltd.

Global Expansion Strategies In The Rolling Mill Industry
Major players operating in the market are focused on investments to expand their global presence to access new markets, diversify their customer base, and reduce supply chain risks. Investment in rolling mills establishes or improves metalworking facilities and machinery for processing metal products such as sheets and rods through rolling processes to boost production capacity and efficiency. For instance, in May 2022, Novelis Inc., a US-based provider of industrial rolling and recycling solutions, allocated $2.5 billion to construct a state-of-the-art low-carbon recycling and rolling mill in Bay Minette, Alabama, USA. This cutting-edge facility is set to produce 600 kilotons of finished aluminum products annually, marking a pivotal growth phase for Novelis. The investment underscores Novelis's unwavering commitment to aligning with its customers' requirements and offering sustainable, low-carbon aluminum solutions. This strategic decision is driven by robust demand in North America for flat-rolled, environmentally friendly aluminum used by beverage companies, emphasizing the role of aluminum packaging in sustainability and the circular economy.

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Key Segments -

The rolling mill and other metalworking machinery market covered in this report is segmented -

1) By Type: Wire Drawing and Fabricating Machinery, Coil Winding and Cutting Machinery, Rolling Mill Machines, Other Rolling Mill And Other Metalworking Machinery
2) By Capacity: Small, Medium, Large
3) By Application: Metal Manufacturing, Machinery and Equipment, Automotive, Other Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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