
Published On: Oct 2022
Published On: Oct 2022
At 1.0% CAGR, the South America Cold Forming and Cold Heading Market is projected 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.
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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