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Wire Drawing Machine Market - Global Opportunity Analysis and Industry Forecast, 2020–2027
| A08101 | Pages: NA | Feb 2021 | 47 Views | | |
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COVID-19
Pandemic disrupted the entire world and affected many industries.
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Wire drawing machine, is used to reduce the cross-section of a wire by pulling the wire through a series or single drawing dies. The wire drawing machine is compact in design with high drawing intensive. Furthermore, it is well suited for high speed drawing for lubricating and cooling of drawing wires. Apart from this , wire drawing machines are used to draw wires into small diameters that contain of multiple draw dies, separated by accumulating drums between the dies. These Wire drawing machines are used to draw mild steel, stainless steel, carbon steel, aluminum, copper, and alloys. Apart from this , they are used to process metallic mesh and steel wire into different diameters. Moreover, the wire drawing machine operates between 300 and 700°C depending on the operation purpose and user requirements. Moreover, before the drawing procedure, the wires are heated up to the required temperature through indirect resistance heating, gas fired inductive, or heating.
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2019–2027 |
Base year considered | 2019 |
Forecast period | 2020–2027 |
Forecast units | Value (USD Millions) |
Segments covered | Distribution Channel, Application, End-user industry, and Region |
Geographies covered | North America (US and Canada), Europe (Germany, UK, France, Italy, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, and the Rest of Asia Pacific), LAMEA (Latin America, Middle East, and Africa) |
Companies covered |
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Covid impact on industry -
COVID-19 pandemic has shut-down the production of various products in the wire drawing machine market industry , mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of wire drawing machine market significantly from last few months, as is likely to continue during 2020.
COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year.
The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Rising industrialization in developing and developed countries
Rising industrialization in developing and developed countries is expected to drive the wire drawing machines market during the forecast period. Moreover, wire drawing machines are utilized in the manufacturing of electrical wiring, cables, and paper clips. This, in turn, is expected to increase the demand for wire drawing machines worldwide. Continuous rise in automobile production is also an important factors that is helping in boosting the global wire drawing machines market
Consistent rise in demand for wire drawing machines
As there is Consistent rise in demand for wire drawing machines due to the continuous increase in demand for cars, consumer goods, as well as heavy equipment or machinery is expected to increase the global wire drawing machines market during the forecast period.Under the product segment, wet wire drawing machine, and dry wire drawing machine manufacturers accounted for major share of the wire drawing machine market. This is due to rise in mainly in industrialization worldwide, which in turn is projected to increase the wire drawing machines market in the upcoming years.
Key segments covered:
Segments | Sub-segments |
Distribution channel |
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Application |
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End User Industry |
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Key benefits of the report:
- This study presents the analytical depiction of the wire drawing machine market along with the current trends and future estimations to determine the future of the market
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the wire drawing machine market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the wire drawing machine market growth scenario.
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