According to a new report published by Allied Market Research, titled, “Global Blanking Machine Market by Product Type, Material, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global blanking machine market size was valued at $0.92 billion in 2020, and is expected to reach $1.45 billion by 2030, with a CAGR of 4.2% from 2021 to 2030. In 2020, Asia-Pacific dominated the market, in terms of revenue, accounting for around 45.10% share of the global market.
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Blanking machines are used to cut or shear flat or curved sheet metal parts from a continuous strip. This process is accomplished by pressing a cutting tool into the material at a high speed. Blanking machines are used to produce parts with a high degree of accuracy and repeatability.
The growth of the automotive industry is a key factor driving the market. Automotive manufacturers are increasingly using blanking machines to produce parts with a high degree of accuracy and repeatability. This has led to an increase in the demand for blanking machines in the automotive industry.
In addition, the growing popularity of 3D printing technology is also driving the market. 3D printing technology has enabled companies to produce parts with complex shapes and sizes. This has led to a growing demand for blanking machines that can be used to produce these parts.
Moreover, the growing demand for lightweight materials in the aerospace industry is also driving the market. Aerospace manufacturers are using blanking machines to produce parts with complex shapes and sizes. This has led to an increase in the demand for blanking machines in the aerospace industry.
Furthermore, the increasing demand for medical devices is also driving the market. Medical device manufacturers are increasingly using blanking machines to produce parts with a high degree of accuracy and repeatability. This has led to an increase in the demand for blanking machines in the medical device industry.
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The market is segmented on the basis of type, end-use, and region. On the basis of type, the market is divided into electro-mechanical blanking machines, hydraulic blanking machines, and pneumatic blanking machines. On the basis of end-use, the market is divided into automotive, aerospace, electronics, and medical.
Geographically, the market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to be the largest market for blanking machines due to the presence of major automotive, aerospace, electronics, and medical device manufacturers.
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