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Press Brake Machine Market Expanding on Back of High Demand from Transportation Sector: Persistence Market Research
NEW YORK CITY, NEW YORK, UNITED STATES, June 16, 2022 /EINPresswire.com/ -- Press brake machine sales are estimated to be valued at US$ 594.4 Mn in 2022, with steady long-term projections, according to the latest insights by Persistence Market Research. The report estimates the market to expand by a value CAGR of 6.1% from 2022 to 2032. Increasing demand for press brake machines from the automotive, aerospace, mass transportation, construction, metal fabrication, and electronics sectors is driving market expansion.
Over the next few years, government spending on sustainable energy solutions, including e-mobility & electric vehicles, solar energy systems, and the construction industry, is likely to increase, parallelly driving demand for press brake machines. The transportation industry, which includes planes, ships, railroads, and commercial vehicles, will drive continued demand for press brake machines over the coming years.
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Key Takeaways from Market Study
By product type, hydraulic press brake machines are anticipated to witness prominent demand growth at 6.1% CAGR by volume during the forecast period of 2022 to 2032.
Digitally-controlled automated press brake machines are becoming more common. Several companies are focusing on developing press brake machines with programmable components and digital control systems. The automatic operation segment is projected to expand at a CAGR of 7.2% by value. By region, East Asia and South Asia Pacific are anticipated to witness substantial growth in the market. Among these regions, sales of press brake machines in China, ASEAN countries, and India are expected to increase at a high CAGR in terms of volume. By capacity, press brake machines ranging from 50 to 150 tons and 150 to 300 tons, together, are estimated to hold a prominent volume share of 56.3% in 2022.
“Press brake machines, being a fragmented market, depends on various end-use industries such as automotive, aerospace, marine, electronics, metal fabrication, and construction. Increasing trade volumes are fueling demand for press brake machines. Expanding commercial and residential construction projects are projected to drive market expansion. Besides, rising demand for power and energy will also complement market expansion” says a Persistence Market Research analyst.
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Leading manufacturers of press brake machines are Trumpf, AMADA, BYSTRONIC, ERMAKSAN, EUROMAC, THE HACO GROUP, Komatsu Ltd., LVD Group, AIZAWA TEKKOSO LTD., Boschert GmbH & Co., Gasparini Industries S.r.l., Kojima Iron Works Co. Ltd., Nantong Tengzhong Machinery Co. Ltd, RICO-Tomas Castro Silva, and Wysong.
To gain a competitive advantage in the industry, key manufacturers are developing innovative press brake machines. Market players are also heavily investing in expansion, mergers, acquisitions, and strategic partnerships to expand their global footprint.
In August 2021, the Trumpf group entered into a strategic partnership with STARMATIK for robotic automation of industrial equipment, such as bending and punching machines.
In 2021, ERMAKSAN launched an updated version of its press brake machine with customizable features that include adjustable height and support arms for easy operation.
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More Valuable Insights on Offer
Persistence Market Research, a research and consulting firm, has published a new market research report on the global press brake machine market that contains an industry analysis of 2017–2021 and an opportunity assessment for 2022–2032.
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