(MENAFN- PR Newswire)
NEW YORK, June 28, 2024 /PRNewswire/ -- The global
press brakes market
size is estimated to grow by USD 555.7 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost
5.32%
during the forecast period.
Increase in demand for cnc press brakes
is driving market growth,
with a trend towards
incorporation of press brakes with IoT. However,
increasing number of injuries caused by press brakes
poses a challenge. Key market players include Accurl CNC Machine Anhui Manufactory Co. Ltd., Accurpress Product Sales, ADIRA METAL FORMING SOLUTIONS S.A., AMADA Co. Ltd., ATM Deutschland Maschinen u. Werkzeuge Vertriebs GmbH, Betenbender Manufacturing Inc., CINCINNATI Inc., Durmazlar Makina AS, EUROMAC Spa, Gasparini Industries Srl, Haco NV, Hindustan Hydraulics Pvt. Ltd., JPW Industries Inc., Lodesani and Carreri Srl, LVD Co. Nv, Mitsubishi Corp., Prada Nargesa SL, SafanDarley BV, Salvagnini Italia Spa, and TRUMPF SE Co. KG.
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Technavio has announced its latest market research report titled Global press brakes market 2024-2028
Get a detailed analysis on regions, market segments, customer landscape, and companies
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| Forecast period |
2024-2028 |
| Base Year |
2023 |
| Historic Data |
2018 - 2022 |
| Segment Covered |
Application (Automotive industry, General machinery, Transportation equipment, Precision engineering, and Others), Product (Hydraulic, Hybrid, Servo-electric, and Others), and Geography (APAC, Europe, North America, South America, and Middle East and Africa) |
| Region Covered |
APAC, Europe, North America, South America, and Middle East and Africa |
| Key companies profiled |
Accurl CNC Machine Anhui Manufactory Co. Ltd., Accurpress Product Sales, ADIRA METAL FORMING SOLUTIONS S.A., AMADA Co. Ltd., ATM Deutschland Maschinen u. Werkzeuge Vertriebs GmbH, Betenbender Manufacturing Inc., CINCINNATI Inc., Durmazlar Makina AS, EUROMAC Spa, Gasparini Industries Srl, Haco NV, Hindustan Hydraulics Pvt. Ltd., JPW Industries Inc., Lodesani and Carreri Srl, LVD Co. Nv, Mitsubishi Corp., Prada Nargesa SL, SafanDarley BV, Salvagnini Italia Spa, and TRUMPF SE Co. KG |
Key Market Trends Fueling Growth
The Internet of Things (IoT) revolutionizes press brake operations by enabling data transmission without human intervention. IoT-enabled press brakes are equipped with sensors and computer network connectivity, allowing for real-time process monitoring and reporting. This technology alerts operators when machines function outside set parameters and enables remote management, leading to increased efficiency and demand in industries like automotive. IoT integration is a significant trend in the press brakes market, driving growth during the forecast period.
The Press Brake market is experiencing significant growth, driven by increasing demand for metal fabrication in various industries. Precision, speed, and versatility are key trends in this market. Sheet metal forming is a crucial process in manufacturing, and press brakes play a vital role in shaping and bending metal components. Companies are focusing on improving the technology to make press brakes more efficient and cost-effective. The use of advanced materials and automation is becoming common in the industry. The market is also witnessing a rise in the adoption of CNC press brakes, which offer greater accuracy and flexibility. The trend towards customization and mass production is also driving the demand for press brakes. Overall, the market is expected to continue its growth trajectory in the coming years.
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Market
Challenges
Press brakes are essential tools in the automotive and transportation equipment industries for producing high-quality materials efficiently. However, these machines pose risks to workers, leading to injuries such as finger crush, burns, and electrocution. The increasing number of injuries, often due to worker negligence or inadequate safety measures, may undermine employee trust and encourage the adoption of alternatives. This trend could negatively impact the demand for press brakes in the forecast period.
The Press Brakes market faces several challenges. Modernization of production processes is a key challenge, with companies seeking to adopt advanced technologies like CNC and servo press brakes for increased efficiency and precision. Another challenge is the rising cost of raw materials and energy, which can impact profitability. Additionally, the market is becoming increasingly competitive, with a growing number of players offering similar products. Consumers demand high-quality bending solutions at competitive prices, making it essential for companies to focus on innovation and cost reduction. Ensuring timely delivery and maintaining a strong customer base are also significant challenges in this market.
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Segment Overview
This press brakes market report extensively covers market segmentation by
Application
1.1 Automotive industry
1.2 General machinery
1.3 Transportation equipment
1.4 Precision engineering
1.5 Others
Product
2.1 Hydraulic
2.2 Hybrid
2.3 Servo-electric
2.4 Others
Geography
3.1 APAC
3.2 Europe
3.3 North America
3.4 South America
3.5 Middle East and Africa
1.1 Automotive industry-
The automotive industry's growth, driven by rising demand for passenger vehicles due to urbanization and increasing disposable income in emerging economies, will boost the press brakes market. In the commercial segment, public transport infrastructure and the need for luxury transportation are key growth factors. Press brakes, used for fabricating vehicle panels, are essential in the automotive industry, particularly hydraulic ones due to their efficiency. These trends indicate a promising outlook for the press brakes market in the automotive sector.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 - 2022)
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Research Analysis
The Press Brakes Market encompasses various industries, including Building and Automobile, where Electric, Hydraulic, and Metallic fabrication are prevalent. Precision Pressure forms, such as Angles, Bends, and Forms, are essential in metalworking applications. Advanced press brakes utilize Computer Numerical Control (CNC) and Servo hydraulic mechanisms for high accuracy, repeatability, and efficiency. These systems offer advanced features like back gauge positioning and tonnage control. Environmental protection and energy saving are crucial considerations in modern press brake designs. High precision and high efficiency servo hydraulic systems are the future of metalworking, offering significant advantages over traditional methods. Bending software programs optimize the bending process, further enhancing the overall performance and productivity of press brakes.
Market Research Overview
The Press Brake market encompasses a wide range of hydraulic and sheet metal forming machinery used to bend metal sheets into various shapes. These machines are essential in industries such as automotive, construction, and manufacturing. The process involves clamping the metal sheet between the brake beam and the die, and then using hydraulic pressure to bend the metal to the desired shape. The market for press brakes is driven by factors such as increasing demand for automation in manufacturing processes, growing construction industry, and the need for efficient and cost-effective metal forming solutions. The market is segmented based on the type of press brakes, including CNC and hydraulic press brakes, and their applications in various industries. The market is expected to grow steadily in the coming years due to these factors and the continuous advancements in technology.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Application
Automotive Industry
General Machinery
Transportation Equipment
Precision Engineering
Others
Product
Hydraulic
Hybrid
Servo-electric
Others
Geography
APAC
Europe
North America
South America
Middle East And Africa
7
Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
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SOURCE Technavio
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