Machine Bench Vices Market

Machine Bench Vices Market Analysis

The Machine Bench Vices Market is expected to register a CAGR of 4.2% during the forecast period.

• Machine vises and bench vises, like inventor's vises, are tools used to clamp metal instead of wood. The primary purpose of the vise is to hold metal while the cutting and filing process is going on. A machine vise holds the workpiece securely while the work is being done. It can be mounted on a milling or drilling machine. A machine vise is usually operated by a hand crank or a hydraulic system and can clamp the workpieces with moderate force.
• The rapid growth of the industrial sectors has increased the number of workshops utilizing drills and milling machines, thus necessitating an expansion of the machine bench vices. Furthermore, most companies manufacturing machine tools incorporate vices manufactured by small businesses as part of their standard equipment. Moreover, small-scale businesses also purchase these vices from various wholesalers in the open market. Consequently, the growth of small enterprises is expected to be exceptionally high in the near future.
• Developing economies, such as China, India, and Indonesia, among others, along with industrialized countries, such as Japan and South Korea, have assisted the Asia-Pacific (APAC) region to dominate the manufacturing industry in terms of demand, particularly with the demand for machine bench vices for metal fabrication equipment.
• Moreover, China is also the largest manufacturer of automobiles in the world. China is one of the largest producers of passenger cars due to the improving logistics and supply chains, increased business activity, and the country’s raft of pro-consumption measures, among other factors contributing to the passenger car market products in the country. Therefore, this has increased demand for machine bench vices for the automotive segment. For instance, according to OICA, in 2023, passenger car production globally amounted to 68,020 thousand units, which has increased from 61,553 in 2022.
• Metal fabrication equipment is the most widely used in the automotive and related industries, with manufacturing companies being the next largest consumers. The demand and supply of machine bench vice metal fabrication equipment for critical sectors, including aerospace and defense, are projected to increase over the forecast period.
• The conflict between Russia and Ukraine significantly impacted this industry. The conflict exacerbated supply chain issues and material shortages that had affected the industry for some time. The disruption resulted in volatile pricing for critical raw materials such as nickel, palladium, copper, titanium, aluminum, and iron ore, resulting in material shortages. This, in turn, impacted the manufacturing of various Machine Bench Vices.
• Further, according to UkraineInvest, copper prices escalated to USD 10,845/mt in early March 2022. The Russia-Ukraine War, high energy costs, and stricter emissions standards in Europe have been noted as the primary reasons for the continued shortage of copper.

Machine Bench Vices Market Trends

Automotive Segment to Register Significant Growth

• Machine bench vice usage has increased due to the increasing demand for Automobiles. In recent years, the automotive industry has seen a significant increase in the use of machine bench vices. From die-casting similar components to unibody frame manufacturing, CNC instruments and machines are responsible for most of the parts found in modern cars. Therefore, with the increasing demand in the automotive industry, the demand of the studied market will continue to grow in the years to come.
• For instance, over 1.3 billion motor cars are on the road worldwide, which is predicted to climb to 1.8 billion by 2035. Passenger automobiles account for around 74% of these figures, with light commercial vehicles and large trucks, buses, coaches, and minibusses accounting for the remaining 26%.
• According to OICA (International Organization of Motor Vehicle Manufacturers), China is the world's largest automotive market: Chinese motorists purchased around 26.06 million passenger cars in 2023. India was the second-largest market for passenger cars in Asia.
• Furthermore, Asia-Pacific has the most people of any region. Owing to an increase in urban population and spending power, Asia-Pacific is one of the most important markets for the automobile industry. According to the China Association of Automobile Manufacturers, approximately 26.06 million units passenger vehicles in 2023, up from 23.06 million units sold in 2022. Such massive vehicle sales will allow the studied market to grow. ​​
• Manufacturers are increasingly adopting advanced metalworking tools, such as machine bench vices, to meet the demand for faster production times and enhanced operational efficiency. This trend is driven by the growing need to streamline manufacturing processes, reduce downtime, and improve precision in metalworking applications.

Asia Pacific Market to Grow Significantly

• Due to the growing development in manufacturing and R&D activities in various industries across the Asia Pacific countries, the region holds a high market share. Further, the rising number of initiatives taken to ensure the safety of the workers in industries such as metalworking and automotive also support the market growth in the region.
• In metalworking, machine bench vices are most commonly used in high-priced CNC machines, which must operate continuously. As a result, it is essential to minimize setup time. In this context, the clamping system used to secure the workpieces is of the utmost importance, particularly in series production, where the highest degree of automation is required to produce repetitive processing operations cost-effectively. Hydraulic vices are the most essential type of clamping system. They can fix the workpiece in place quickly and with great strength. The constant repetition of clamping can always be accomplished with the same strength.
• India is a rapidly expanding nation in manufacturing industries and machinery, resulting in a high demand for machine bench accessories. The Indian government has implemented various policies to assist companies in establishing manufacturing units. These include the National Manufacturing Policy, which seeks to increase the manufacturing sector's share of GDP to 25% by 2025, and the PLI Scheme for Manufacturing, initiated in 2022 to bring the core manufacturing sector up to international standards.
• Furthermore, the easy availability of labor and the declining prices of components have resulted in manufacturers shifting their production units in this region, further promoting the market. Several critical factors drive adoption in this region, including its proximity to supply and demand regions.
• In addition, setting up manufacturing plants in the Asia-Pacific region has stimulated the use of computer numerical control (CNC), which drives the machine bench vice market. The automotive industry is expected to be one of the fastest-growing segments in the next few years due to the growing automation of automobile manufacturing. The machine bench vice market is expected to be driven by increased efficiency, time efficiency, accuracy, and precision across metalworking industries like the automotive and manufacturing industries.

Machine Bench Vices Industry Overview

The machine bench vices market is fragmented and consists of many players. Regarding market share, some of these important vendors currently manage the market. These influential players with a noticeable share in the market are concentrating on expanding their customer base across foreign countries. The players in the studied market are striving to constantly innovate advanced products to cater to consumers' evolving needs.

• November 2023 - GEARWRENCH expanded their shop equipment product offering, announcing the launch of two new Floor Jacks and four new Jack Stands available now for the professional Automotive Mechanic. In addition, three models of Bench Vises and three Bottle Jack products will be launched at the beginning of 2024.
• August 2023 - German workholding equipment manufacturer Roemheld announced that it will launch a new, mechanically operated, centric (self-centering) machine vice on its stand (E54 in hall 4) at the forthcoming EMO 2023 metalworking trade show in Hannover, 18th - 23rd September. The new Hilma.UC 125 vice is of modular build, intended for 3 to 5-axis prismatic machining applications. The design ensures easy tool access to the workpiece from all sides, allowing the use of short tools for high-precision machining in a single set-up.

Machine Bench Vices Market Leaders

Machine Bench Vices Market News

• June 2023: FEIN has unveiled its pioneering VersaMAG system to the UK's metalworking market. This modular clamping solution is centered around a powerful magnet and is equipped with various attachments that can be exchanged for use in an infinite number of applications. The basis of the system is the VersaMAG, which is made of neodymium. Its two-rotor system produces an impressive 7800N maximum holding force, enabling the clamping solution to be securely applied to all magnetic surfaces - even those as small as 4mm. This will allow users to carry out tasks safely and effectively across various work environments, including shipyards, aircraft production facilities, and steel and fabrication shops.
• April 2023: Kurt Manufacturing has declared that it has acquired the assets of Bellatex Inc. LLC, the proprietor of Carvesmart, the pioneering manufacturer of the dovetailed Quick-change Vise jaw system. Kurt has purchased all of Carvesmart's patents and inventory as part of the asset acquisition process. Kurt Workholding will now carry a complete inventory of existing Carvesmart products and the newly released Kurt Trilock Vise with Carvesmart jaws.