Report : South America Cold Forming and Cold Heading Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Material (Aluminum, Alloy Steel, Stainless Steel, and Others) and Industry (Aerospace and Defense, Automotive, Industrial Equipment and Machinery, and Others)
At 1.0% CAGR, the South America Cold Forming and Cold Heading Market is speculated to be worth US$ 929.30 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South America cold forming and cold heading market was valued at US$ 872.90 million in 2022 and is expected to reach US$ 929.30 million by 2028, registering an annual growth rate of 1.0% from 2022 to 2028. The growing demand cold forming and cold heading in aerospace industry and increasing demand for cold forming and cold heading in automotive industry are the critical factors attributed to the market expansion.
The automobile industry widely uses parts molded by cold heading machines. The main metals used for cold heading include copper-based (Cu) metal alloys, pure copper, brass, phosphor bronze, stainless steel, and aluminum. Headers manufactured by cold heading machines are terminals and pins used in various automotive control units, engine control units (ECUs), pressure sensors, and other in-vehicle sensors. Technological advancements, climate change-related policies, and changing consumer tastes are driving the demand for eco-friendly, fuel-efficient, intelligent vehicles and innovations in electric and hybrid vehicles.
On the contrary, cold forming and cold heading metalworking requires greater forces hurdles the growth of South America cold forming and cold heading market.
- Based on material, the South America cold forming and cold heading market is segmented into aluminum, alloy steel, stainless steel, and others. The alloy steel segment held 45.6% market share in 2022, amassing US$ 397.62 million. It is projected to garner US$ 417.05 million by 2028 to expand at 0.8% CAGR during 2022–2028.
- Based on industry, the South America cold forming and cold heading market is segmented into aerospace and defense, automotive, industrial equipment and machinery, and others. The automotive segment held 56.9% market share in 2022, amassing US$ 496.39 million. It is projected to garner US$ 541.82 million by 2028 to expand at 1.5% CAGR during 2022–2028.
- Based on country, the South America cold forming and cold heading market is segmented into Brazil, Argentina, and the rest of South America. Our regional analysis states that Brazil captured 70.9% market share in 2022. It was assessed at US$ 619.28 million in 2022 and is likely to hit US$ 663.52 million by 2028, exhibiting a CAGR of 1.2% during the forecast period.
Key players dominating the South America cold forming and cold heading market are Altra Industrial Motion Corp; Bharat Forge; KALYANI FORGE; and STANLEY among others.
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