New York, July 27, 2022 (GLOBE NEWSWIRE) -- 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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"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.
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.
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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.
The report provides an in-depth analysis of the market through different segments, namely, product type, capacity, operation, end use, and region. The report also provides supply and demand trends along with an overview of the parent market.
Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on "micros" by Persistence Market Research helps companies overcome their "macro" business challenges.
Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies'/clients' shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.
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