Dublin, Nov. 28, 2019 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.
The global automatic bending machine market is projected to grow from USD 1.8 billion in 2018 to USD 2.4 billion by 2024; it is expected to grow at a CAGR of 4.5% from 2019 to 2024.
The growth of this market can be attributed to the high safety and accuracy offered by programmable bending. However, the high maintenance cost, along with the need for qualified operators, hinders the market growth.
Major players operating in the automatic bending machine market are TRUMPF GmbH + Co. KG (Germany), AMADA HOLDINGS Co., Ltd. (Japan), HACO BV (Belgium), Bystronic Laser AG (Germany), Prima Industrie S.p.A. (Italy), DANOBAT GROUP (Spain), WAFIOS AG (Germany), BLM Group (Italy), transfluid Maschinenbau GmbH (Germany), and AMOB (Portugal), among many others.
Automatic bending machines capture larger market share than semiautomatic bending machines
Automatic type bending machines are expected to account for a larger market share than semiautomatic types bending machines from 2019 to 2024. Semi-automatic type bending machines bend the workpiece automatically, but the workpiece has to be fed manually, while automatic type bending machines offer safe automatic loading and unloading of the workpiece, as well as accurate bending. Thus, safe automatic loading and unloading and ease of use drive the market for automatic bending machines.
Electric bending machines are likely to hold the largest market share of the automatic bending machine market
Electric bending machines are easy to use and offer accuracy in bending tubes/pipes, metal sheets, and bars, as well as consume lower electricity than other types of bending machines such as pneumatic and hydraulic. Also, electric bending machines are cheaper than bending machines based on other technologies, which ultimately boosts the demand for electric bending machines.
APAC to be the fastest-growing market for automatic bending machines during the forecast period
Among all regions, the market in APAC is expected to grow at the highest rate from 2019 to 2024. The growth of the market in this region is attributed to technological innovations. World's major automakers are focusing on establishing their manufacturing plants in the APAC region, and some of them are even offering tailored electric and hybrid vehicles in this region.
Since the economic liberalization in 1991, India has attracted unprecedented attention from major automakers. Shipbuilding has shifted from Europe to APAC. Most of the shipbuilding construction (more than 80%) is concentrated in APAC countries such as Korea, Japan, and China. APAC also has a few of the vital shipbuilding companies that use automatic bending machines.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Automatic Bending Machine Market
4.2 Market, By Type (2019-2024)
4.3 Market, By Application (2019 and 2024)
4.4 Market, By Technology (2019 and 2024)
4.5 Market, By Industry (2019 and 2024)
4.6 Market, By Region (2019-2024)
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Availability of Safe Programmable Bending Machines With High Precision
5.2.2 Restraints
5.2.2.1 High Maintenance Cost and Requirement of Qualified Operators and Maintenance Technicians
5.2.3 Opportunities
5.2.3.1 Integration of Robots With Bending Machines
5.2.4 Challenges
5.2.4.1 Deformation of Metallic Parts Owing to Variations in Speed and Pressure
6 Market, By Type
6.1 Introduction
6.2 Automatic
6.2.1 Automatic Bending Machines Expect to Dominate Market During Forecast Period
6.3 Semiautomatic
6.3.1 Automotive Industry to Witness Highest Demand for Hydraulic Semiautomatic Bending Machines
7 Market, By Technology
7.1 Introduction
7.2 Electric
7.2.1 Electric Automatic Bending Machines Consume Lowest Energy Than That of Other Technologies
7.3 Hydraulic
7.3.1 Automotive Industry to Witness Highest Demand for Hydraulic Automatic Bending Machines
7.4 Pneumatic
7.4.1 Automatic Type Pneumatic Bending Machines to Continue to Hold Larger Market Share Than That of Semiautomatic Type Pneumatic Bending Machines
7.5 Induction Based
7.5.1 Shipbuilding Industry to Exhibit Highest Demand for Induction Technology-Based Automatic Bending Machines
8 Market, By Application
8.1 Introduction
8.2 Tube/Pipe
8.2.1 Tube/Pipe Bending Application to Dominate Automatic Bending Market During Forecast Period
8.3 Metal Sheet
8.3.1 Metal Sheet Bending Application to Lead Market for Automotive Industry During Forecast Period
8.4 Bar
8.4.1 Use of Reinforcement Bar Bending Machines for Making Safer and Stronger Structures in Construction Industry
9 Market, By Industry
9.1 Introduction
9.2 Automotive
9.2.1 Automotive Industry to Witness Highest CAGR in Market During Forecast Period
9.3 Shipbuilding
9.3.1 Shipbuilding Industry to Account for Largest Market Share in APAC During Forecast Period
9.4 Aerospace & Defense
9.4.1 Electric Bending Machines are Most Preferred in Aerospace & Defense Industry
9.5 Construction and Mining
9.5.1 Construction and Mining Industry to Witness Highest Growth Rate in Market in APAC
9.6 Others
10 Geographic Analysis
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 US to Continue to Account for Largest Share of North American Market for Automatic Bending Machines
10.2.2 Canada
10.2.2.1 Canada to Continue to Account for Second-Largest Share of North American Automatic Bending Machines in Coming Years
10.2.3 Mexico
10.2.3.1 Mexico to Witness Highest CAGR in North American Market for Automatic Bending Machines
10.3 Europe
10.3.1 UK
10.3.1.1 UK to Witness Largest Size of Electric Bending Machine Market During Forecast Period
10.3.2 France
10.3.2.1 Aerospace & Defense Industry to Witness Highest CAGR in Electric Automatic Bending Machine Market in France
10.3.3 Germany
10.3.3.1 Innovative Automotive Industry in Germany to Drive Demand for Automatic Bending Machines
10.3.4 Rest of Europe
10.4 Asia Pacific (APAC)
10.4.1 China
10.4.1.1 China to Account for the Largest Size of Market in APAC
10.4.2 Japan
10.4.2.1 Strong Automotive Industry to Drive Japanese Market for Automatic Bending Machines
10.4.3 India
10.4.3.1 India is Expected to Witness Highest CAGR in Market
10.4.4 Rest of APAC
10.5 Rest of The World (RoW)
10.5.1 Middle East and Africa
10.5.2 South America
11 Competitive Landscape
11.1 Overview
11.2 Ranking Analysis of Market Players
11.3 Competitive Leadership Mapping
11.3.1 Visionary Leaders
11.3.2 Innovators
11.3.3 Dynamic Differentiators
11.3.4 Emerging Companies
11.4 Competitive Scenario
11.4.1 Product Launches
11.4.2 Expansions
11.4.3 Agreements
12 Company Profiles
Business Overview, Products Offered, Recent Developments, SWOT Analysis
12.1 Key Players
12.1.1 Trumpf
12.1.2 Amada
12.1.3 Haco
12.1.4 Bystronic
12.1.5 Prima Industrie
12.1.6 Danobatgroup
12.1.7 Wafios
12.1.8 BLM
12.1.9 Transfluid
12.1.10 Amob
12.1.11 Right to Win
12.2 Other Key Players
12.2.1 Shuz Tung Machinery Industrial
12.2.2 Euromac
12.2.3 Soco Machinery
12.2.4 Universal Tool & Engineering
12.2.5 Kersten
12.2.6 Knuth Machine Tools
12.2.7 Dural Machinery
12.2.8 Unison
12.2.9 Horn Machine Tools
12.2.10 Winton Machine Company
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