Automatic Bending Machine Market worth $2.4 billion by 2024
According to the new market research report "Automatic Bending Machine Market by Type (Automatic and Semiautomatic), Technology (Electric, Hydraulic, Pneumatic, and Induction Based), Application (Tube/Pipe, Metal Sheet, Bar), Industry and Region - Global Forecast to 2024", the automatic bending machine market is projected to reach USD 2.4 billion by 2024 from USD 1.9 billion in 2019, at a CAGR of 4.5%. The growth of this market can be attributed to the high accuracy and safety offered by programmable blending.
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“Automatic type bending machines to capture larger market share than semiautomatic bending machines”
Automatic bending machines offer ease of use and precision in bending works and hence are preferred over semiautomatic bending machines. The workpiece is loaded and unloaded automatically in automatic bending machines. This not only eases the bending operation but also offers safety to the operator.
“Manufacturing vertical to lead the automatic bending machine market from 2019 to 2024”
Automatic bending machines are crucial for processes involved in manufacturing. There are industrial as well as government regulations for the protection and backup of the automatic bending machines in the manufacturing sector. The manufacturing vertical is booming in technologically advancing countries such as Brazil, China, and India due to the government support in the form of increasing foreign direct investment and other initiatives. This drives the automatic bending machine market for the manufacturing vertical.
“APAC to be largest market for automatic bending machines during forecast period.”
APAC is anticipated to be the fastest-growing region for the automatic bending machine market due to technological innovations and adoption of the automatic bending machines in the automotive and shipbuilding industries. Emerging economies in APAC are growing significantly in the automatic bending machine market. The market in this region is led by China, India, and Japan, among others. The APAC region is a promising and emerging market for automatic bending machines owing to factors such as growing economies and booming automotive and manufacturing industries. A few leading automatic bending machine manufacturing companies are from Japan, such as Amada, which offer innovative automatic bending machines across different industries.
Major players operating in the automatic bending machine market are TRUMPF GmbH + Co. KG (Germany), AMADA HOLDINGS Co., Ltd. (Japan), Prima Industrie S.p.A. (Italy), DANOBAT GROUP (Spain), WAFIOS AG (Germany), HACO BV (Belgium), Bystronic Laser AG (Germany), BLM Group (Italy), transfluid® Maschinenbau GmbH (Germany), and AMOB (Portugal), among others. Other companies include Quantum Corporation (US), Barracuda Networks, Inc. (US), Hitachi Vantara Corporation (US), and Arcserve LLC (US), among others. Shuz Tung Machinery Industrial (Taiwan), Euromac (Italy), SOCO Machinery (Taiwan), and Universal Tool & Engineering (US), among others.
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