The automatic bending machine market has experienced notable growth, rising from $2.10 billion in 2023 to $2.22 billion in 2024, with a CAGR of 5.6%. This growth is attributed to the increasing use of metalworking processes, rise of smart automation, expansion in the electric vehicle market, growth in consumer electronics production, and aerospace sector expansion. The market is expected to reach $2.80 billion by 2028, with a CAGR of 6.1%. Future growth is driven by demand for high-precision bends, rising automation needs, increasing requirements in iron and steel industries, expanding manufacturing sectors, and greater infrastructure investments. Key trends include technological advancements, integration of automation and robotics, use of 3D printing, and adoption of sensor technologies.
Major Driver In The Automatic Bending Machine Market
The adoption of automation in manufacturing is expected to drive the automatic bending machine market. Automation, encompassing robotics and computer systems, is replacing manual labor in production and assembly, enhancing productivity, consistency, and cost-efficiency. Automatic bending machines, which precisely manipulate materials like metal sheets and tubes, are integral to this automation trend. The International Federation of Robotics reported a 12% increase in industrial robot installations in 2022, with the automotive industry leading at 20,391 units, a 30% rise from 2021. This adoption of automation is fueling the automatic bending machine market’s growth.
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Automatic Bending Machine Market Competitive Landscape
Trumpf GmbH Co. KG, Shuz Tung Machinery Industrial Co Ltd., Bystronic Laser AG, Prima Power, Salvagnini Group, Danobatgroup S.COOP., Ermaksan, Cincinnati Incorporated, Baykal, SafanDarley, Amob S.A., Haco Holding N.V., Akyapak Makina Sanayi VE TICARET A.S, PedaXxGmbH, Amada Co. Ltd., Transfluid Maschinenbau GmbH, WAFIOS AG, Euromac S.P.A, Carell Corporation, Winton Machinery, Mackma SRL, Durma, Soco Machinery Co Ltd., EUROMAC S.p.A, Minerva Industries
Key Automatic Bending Machine Market Trend
The automatic bending machine market is evolving with innovations like XXL (extra, extra-large) bending machines to handle oversized components. These specialized machines are designed for bending large parts beyond the capacity of standard equipment. In February 2023, Trumpf Inc. of Germany launched the TruBend Series 8000, an XXL bending machine that provides an efficient method for bending very large parts, incorporating optional extras tailored for heavy-duty applications.
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Automatic Bending Machine Market Segmentation
The automatic bending machine market covered in this report is segmented –
1) By Type: Automatic, Capacity, Upto 10 Ton, 10-20 Ton, More than 20 Ton, Semiautomatic
2) By Technology: Electric, Hydraulic, Pneumatic, Induction
3) By Product Application: Metal Plate, Metal Tube, Cable, Conductor, Other Applications
4) By Industry: Aerospace And Defense, Automotive, Construction and Mining, Shipbuilding
By Geography:The regions covered in the automatic bending machine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the automatic bending machine market in 2023.
The Automatic Bending Machine Global Market Report 2024 furnishes information about the global automatic bending machine market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
