Automatic Shaft Straightening Market Size, Share, and Industry Analysis, By Product Type (Fully Automatic and Semi-Automatic), By Application (Machinery & Equipment, Automotive, Metal Processing, and Others), and Regional Forecast till 2032

The Global Automatic Shaft Straightening Market is to gain strong market growth as a result of increasing demand for varied industrial applications. Growing demand for high-quality shafts and efficient production processes to boost the market for shaft straightening machines. Technological advancements, supporting regulatory policies, and growing demand for reliable machines boost the market for shaft straightening equipment. Wide range of industry applications, including automobile and metal processing, to propel market growth.  

• The Indian Automotive Sector's value surged by 19% in FY 2024 due to strong demand for utility vehicles and Sport Utility Vehicles.


• Value added in machinery and equipment witnessed double-digit growth of about 13.4% in 2021, according to the United Nations Industrial Development Organization (UNIDO).

Automatic Shaft Straightening Market Driver

Significant Market Growth from Heavy Industries to Boost Demand for Automatic Shaft Straightening Machines 

Shafts are widely applicable across industries including marine, energy and power, metal processing, marine, oil and gas, and mining. Technological advancements, automation, improved sensor technologies, and supportive regulatory standards boost the market growth for automated machines.

• Middle East & Africa announced 30 refineries, which will commence its operation from 2024-2030.

Global Index of Industrial Production by Country

The manufacturing output shown above is with respect to the year 2015, and the manufacturing output for the year 2015 has been considered 100. 

Automatic Shaft Straightening Market Restraint

High Initial Investment and Maintenance Requirements Might Pose a Challenge for Market Growth

The initial cost of ownership and installation and the heavy capital expenditure on a skilled workforce might hinder the demand for straightening machines across industries. Automated systems are prone to software issues and machine malfunctions, which might cause further delays and financial losses to end users. Due to budget constraints, small and Medium Scale businesses might limit the growth of automatic shaft straightening machines.

Automatic Shaft Straightening Market Opportunity

Customized Solutions and Rising Demand Across Diverse Industries to Upsurge Market Growth 

Straightened shafts and increased demand for customized machines bring strong market opportunities. Technology-integrated solutions allow enhanced operational efficiency by minimizing human error. Strong focus on product quality to further emphasize volume sales of shaft straightening machines.

Segmentation

Key Insights

The report covers the following key insights:

• Micro Macro Economic Indicators


• Drivers, Restraints, Trends, and Opportunities


• Business Strategies Adopted by the Key Players


• Impact of Generative AI on the Global Automatic Shaft Straightening Market


• Consolidated SWOT Analysis of Key Players

Analysis by Product Type

By product type, the market is segmented into fully automatic and semi-automatic.

Fully automatic shaft straightening machines accounted for the highest revenue market share in 2023, followed by semi-automatic machines. A fully automatic shaft straightening machine allows minimal intervention from the workforce and accurately straightens the shaft without manual assistance. Fully automated machines enhance productivity, minimize operational costs, and maintain the quality of shafts, surging the demand for fully automatic shaft straightening machines.

Analysis by Application

By application, the market is segmented into machinery & equipment, automotive, metal processing, and others.

The machinery & equipment segment registered the highest revenue market share in 2023, owing to increasing demand for straightened shafts across the region. Varied sizes of shafts are required in woodworking, machine shops, mills, and other manufacturing sectors, generating strong demand for the market during the forecast period. Metal processing applications to witness strong growth during the forecast period.

Regional Analysis

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In terms of geography, the global market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

Asia Pacific holds the largest revenue market share due to strong demand for advanced industrial equipment. Manufacturing output growth across the region, demand from the automotive sector, and increasing industrial production further boost the demand for automatic shaft straightening machines.

• According to UNIDO, China recorded growth in manufacturing output by 5.3% during the second quarter of the COVID-19 crisis.

North America is the second largest revenue shareholder for automatic shaft straightening machines owing to the expansion of industrial sectors and the need for efficient shaft straightening, which are a few prominent factors boosting the demand for automated shaft straightening machines.

Key Players Covered

The global Automatic Shaft Straightening market is moderately fragmented, with many regional players. The top 5 players in China account for about 20 -25% of the market.

The report includes the profiles of the following key players:

• KBH Automation (Germany)


• MAE Group (Germany)


• Kokusai (Japan)


• Jizhi Balancing (China)


• Hines Industries (U.S.)


• SAMICK Precision Ind. Co. Ltd. (South Korea)


• Changchun Huikai Technology (China)


• Pegasys Systems (U.S.)


• ISR (Italy)


• Galdabini (Italy)