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LONDON, GREATER LONDON, UNITED KINGDOM, September 5, 2024 /EINPresswire.com/ -- The automatic bending machine market has experienced robust growth in recent years, expanding from $2.10 billion in 2023 to $2.22 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to increasing metalworking processes, the rise of smart automation and connectivity, the rise of electric vehicles, the rise in consumer electronics production, and the growth in the aerospace sector.
What Is The Estimated Market Size Of The Global Automatic Bending Machine Market And Its Annual Growth Rate?
The automatic bending machine market is projected to continue its strong growth, reaching $2.80 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to growing demand for high-precision and complex bends, increasing demand for automation, rising need for iron and steel metal, increasing manufacturing industries, and rising investments in infrastructure.
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Growth Driver Of The Automatic Bending Machine Market
The increasing adoption of automation in the manufacturing sector is expected to propel the growth of the automatic bending machine market going forward. Automation in manufacturing refers to using technology such as robotics and computer systems to replace or enhance human labor in tasks such as production and assembly, aiming to increase efficiency, productivity, and consistency while reducing costs and errors. The increasing adoption of automation in manufacturing is driven by improvements in productivity, cost savings through reduced labor and operational expenses, and the ability to maintain consistent quality and safety standards in production processes. Automatic bending machines are crucial in enhancing automation within the manufacturing sector. These machines are utilized for bending various materials, such as metal sheets, tubes, and profiles, with precision and efficiency.
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Which Market Players Are Driving The Automatic Bending Machine Market Growth?
Key players in the automatic bending machine market include Trumpf GmbH Co. KG, Shuz Tung Machinery Industrial Co Ltd., Bystronic Laser AG, Prima Power, Salvagnini Group, Danobatgroup S.COOP.
What Are The Emerging Trends Shaping The Automatic Bending Machine Market Size?
Major companies operating in automatic bending machines focus on developing innovative products, such as XXL (extra, extra-large) bending machines, to cater to the growing demand for handling oversized components. An XXL (extra, extra-large) bending machine refers to specialized industrial equipment designed to bend oversized or substantial components, typically beyond the capacity of standard bending machines.
How Is The Global Automatic Bending Machine Market 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
Geographical Insights: North America Leading The Automatic Bending Machine Market
North America was the largest region in the automatic bending machine market in 2023. The regions covered in the automatic bending machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Automatic Bending Machine Market Definition
An automatic bending machine is a piece of equipment used in manufacturing and metalworking processes to bend sheet metal or other types of materials automatically and with precision. These machines are typically computer-controlled and perform various bending operations according to programmed specifications.
Automatic Bending Machine Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global automatic bending machine market report covering trends, opportunities, strategies, and more
The Automatic Bending Machine Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on automatic bending machine market size, automatic bending machine market drivers and trends, automatic bending machine market major players, automatic bending machine competitors' revenues, automatic bending machine market positioning, and automatic bending machine market growth across geographies. The automatic bending machine market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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