Hydraulic Press Machines Being Used to Reduce Production Costs
December 22, 2022 ⚊ 1 Min read ⚊ Views 77 ⚊ BLOG
Factors such as the soaring demand for fabricated metals in the automobile sector, increasing application of hydraulic press machines in the manufacturing sector, and rapid automation in the industrial sector are expected to help generate revenue of $11,733.2 million for the hydraulic press machine market by 2023. According to P&S Intelligence, the market will advance at a CAGR of 4.8% during the forecast period (2017–2023). Moreover, the demand for such equipment is driven by their higher operational efficiency than traditional presses.
Hydraulic press machines use a hydraulic (driven by the force of fluids) solid cylinder to generate a compressive force. The popularity of these machines is increasing in the industrial sector due to their high productivity and need to reduce labor costs.
