Cut and bend equipment’s have become important equipment in manufacturing industries where they are highly used to cut and bend objects at quick intervals of time and with better precision. There was a time when electronic and automotive component manufacturers used heavy manual equipment. After manually operated equipment’s, semi-automatic equipment’s came onto the scene, and nowadays, these equipment’s have been operated automatically, which assisted in the digital age of these markets.
According to Data Bridge Market Research the Cut and Bend Equipment accounted for USD 1.28 billion in 2021, and expected to reach USD 1.87 billion by 2029. The market is expected to grow with a CAGR of 4.85% in the forecast period of 2022 to 2029.
“Growth and expansion of manufacturing industries”
Robust growth of manufacturing industries such as electrical and electronics, automotive, aerospace, and marine and construction coupled with increasing adoption of cut and bend equipment in these sectors is likely to increase the growth of the global market. Similarly, flourishing sheet metal fabrication business owing to increasing demand for sheet metal in manufacturing industries including aerospace and automotive is likely to increase cut and bend equipment sales in the upcoming years. Metal fabrication is the procedure of building structures from raw metal material, which includes welding, cutting, bending, and forming. The construction, automobile, aerospace and energy industries all depend on the cyclical metal fabrication business. As a result of significant growth in the sales of cut and bend equipment, which have vast applications in industrial development and metal manufacturing is likely to enhance the market growth.
What restraints the growth of Cut and Bend Equipment Market?
“Multiple issues associated with cut and bend equipment market”
High costs associated with the research and development activities will be a major restraint for the market's growth. Moreover, stringent regulatory framework in the evolving economies and variations in the costs of raw materials will further reduce the growth of the market. Large scale technological and infrastructural limitations, dearth of awareness and skilled professionals and lack of flexibility in the backward economies and underdeveloped regions will further challenge the growth of the market.
Segmentation: Cut and Bend Equipment Market
The cut and bend equipment is segmented on the basis of product type, operation mode and end-user.
- On the basis of product type, the cut and bend equipment is segmented into cutting and shaping, mesh cutting and bending, straightening, stirrups, bar shaping, others.
- On the basis of operation mode, the cut and bend equipment is segmented into semi- automatic, automatic.
- On the basis of end-user, the cut and bend equipment is segmented into manufacturing, engineering contractors /construction, steel, wire/mattress, others.
Regional Insights: Asia-Pacific is expected to dominate the Cut and Bend Equipment Market
Asia-Pacific is expected to dominate the market and is expected to grow significantly due to the presence of electric vehicle manufacturing companies and increasing construction and infrastructure activities in this region. Growing research and development investments towards product development and technology and increasing adoption of advanced technologies by medium and small scale enterprises are some other major factors which are expected to further drive the market growth in this region.
- In addition, the North America region is likely to register highest growth rate during the forecast period of 2022 to 2029 due to increasing number of manufacturing industries in this region. Furthermore, rapid growth of aerospace and automotive industries, large availability of advanced cut and bend and increasing penetration of automation are some other major factors which are expected to further drive the market growth in this region.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-cut-and-bend-equipment-market
The Prominent Key Players Operating in the Cut and Bend Equipment Market Include:
- MEP Engineering, Inc (U.S.)
- Macchine Elettroniche Piegatrici S.p.A. (Italy)
- Swebend (Sweden)
- EUROBEND GmbH (Greece)
- TJK Machinery (Tianjin) Co, Ltd (China)
- KRB Machinery (U.S.)
- Schnell Spa (Italy)
- TOYO KENSETSU KOHKI CO, LTD. (Japan)
- Jayem Manufacturing Co (India)
- Unicorn Equipment (India)
- Retecon (South Africa)
- Elite Sheet Metal Works (India)
- Hunkjey Laser (India)
- TabukSteel (Saudi Arabia)
Above are the key players covered in the report, to know about more and exhaustive list of Cut and Bend Equipment Market companies contact, https://www.databridgemarketresearch.com/reports/global-cut-and-bend-equipment-market
Research Methodology: Global Cut and Bend Equipment Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
