According to a new report published by Allied Market Research, titled, “Automatic Bending Machine Market,” The automatic bending machine market size was valued at $2.1 billion in 2021, and is estimated to reach $3.6 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.
Automatic bending machine is used in automotive, construction, shipbuilding, and aviation. These machines are used to bend tubes, pipes, sheet metal, and bars. Automatic bending machines are of various technology types, which include, electric, hydraulic, pneumatic, and induction. Tube bending machines or tube benders are a type of equipment used for pipe & tube fabrication, primarily for bending tubes. They may use freeform-bending or form-bound procedures. Furthermore, they may use heat-supported or cold-forming procedures.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 : https://www.alliedmarketresearch.com/request-sample/17446
In 2021, Asia-Pacific dominated the global market, in terms of revenue, accounting for majority of automatic bending machine share of the global market, followed by Europe and North America. Moreover, the market in Asia-Pacific is growing at a high CAGR, owing to manufacturing and industrial development in countries such as China, India, and Japan.
In addition, automatic bending machine market in Asia-Pacific has gained traction in recent years, owing to ongoing infrastructure development, expansion of automotive, shipbuilding, and defense industries in China, Japan, and India. Furthermore, factors such as availability of workforce and low-cost manufacturing have fueled the manufacturing sector in the region. Thus, the high population and growth of manufacturing sector have increased the use of automatic bending machines in tube/pipe, metal sheet, and bar bindings applications.
Furthermore, on the basis of technology, the hydraulic segment accounted for the highest automatic bending machine market share in 2021. Hydraulic bending machines work by using the pressure sequence created by hydraulic motor, and this equipment is used largely in bending hard metal pipes. Hence, these machines are widely used in automotive, shipbuilding, and aviation sectors. The machine is equipped with dies to carry on with the bending operation, as well as a clamping cylinder is provided to avoid material slipping out of the clamp.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 : https://www.alliedmarketresearch.com/request-sample/17446
Moreover, rise in infrastructure and construction activities around the globe is accelerating the growth of automatic bending machine market. For instance, in February 2020, the government of the UAE passed a tender of $2.7 billion for infrastructure projects under its public-private partnership (PPP) model. These infrastructure projects include industrial and commercial structures. Similarly, in October 2020, the government of South Korea and Inter-American Development Bank (IDB) collaborated to invest around $1.3 billion in Latin American smart city projects. All such factors are expected to drive the automatic bending machine market growth.
However, during the COVID-19 pandemic, various manufacturers in the automatic bending machine market had to stop their business in countries such as China, the U.S., and India. This break directly impacted sales of automatic bending machine companies. In addition, lack of manpower and raw materials also constricted supply for equipment of automatic bending machine system, which negatively influenced growth of the market. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of automatic bending machine companies.
Key Findings of The Study
- The report provides an extensive analysis of the current and emerging global automatic bending machine market trends and dynamics.
- Depending on type, the automatic segment dominated the market, in terms of revenue in 2021 and is projected to grow at a significant CAGR during the automatic bending machine market forecast period.
- By application, the metal sheet segment is expected to register the highest revenue in 2021.
- In terms of technology, the hydraulic segment has the highest revenue in 2021.
- Asia-Pacific is projected to register the highest growth rate in the coming years.
- The key players within the global automatic bending machine market are profiled in this report, and their strategies are analyzed thoroughly, which helps understand competitive outlook of the automatic bending machine industry.
- The report provides an extensive analysis of the current trends and emerging opportunities of the market.
- In-depth global automatic bending machine market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.
𝐒𝐩𝐞𝐚𝐤 𝐖𝐢𝐭𝐡 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 : https://www.alliedmarketresearch.com/connect-to-analyst/17446
𝐁𝐫𝐨𝐰𝐬𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐓𝐎𝐂 : https://www.alliedmarketresearch.com/automatic-bending-machine-market-A17058