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Revolutionizing Metalwork: Growth in the Automatic Bending Machine Market
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According to The Business Research Company's, The automatic bending machine market size has grown strongly in recent years. It will grow 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.
The automatic bending machine market size is expected to see strong growth in the next few years. It will grow to $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. Major trends in the forecast period include technological advancements, automation integration, robotic integration, 3D printing integration, and sensor technologies.
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Market Drivers and Trends:
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. For instance, in May 2023, according to the International Federation of Robotics, a Germany-based non-profit organization, industrial robot installations in manufacturing climbed by 12% overall in 2022 to reach 41,624 units. The automotive industry, mainly consisting of US, Canadian, and Mexican businesses, was the top adopter with 20,391 installed units, a 30% rise from 2021. Therefore, the increasing adoption of automation in the manufacturing sector is driving the growth of the automatic bending machine market.
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. For instance, in February 2023, Trumpf Inc., a Germany-based industrial machinery manufacturing company, introduced the TruBend Series 8000, a new bending machine for XXL parts. It offers an exceptionally efficient method for bending very large parts, enabling workers to bend and remove workpieces with significant box heights effortlessly. It includes numerous optional extras tailored to enhance the bending process of heavy parts.
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Major Key Players of the Market:
Trumpf GmbH Co. KG, Shuz Tung Machinery Industrial Co Ltd., Bystronic Laser AG, Prima Power, Salvagnini Group, Danobatgroup S.COOP., Ermaksan, Cincinnati Incorporated, Baykal, SafanDarley, Amob S.A., Haco Holding N.V., Akyapak Makina Sanayi VE TICARET A.S, PedaXxGmbH, Amada Co. Ltd., Transfluid Maschinenbau GmbH, WAFIOS AG, Euromac S.P.A, Carell Corporation, Winton Machinery, Mackma SRL, Durma, Soco Machinery Co Ltd., EUROMAC S.p.A, Minerva Industries
Automatic Bending Machine Market 2024 Key Insights:
• The automatic bending machine market size is expected to see strong growth in the next few years. It will grow to $2.80 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%.
• Increasing Adoption Of Automation In The Manufacturing Sector On Automatic Bending Machine Market
• Innovative Bending Machine Technologies For Oversized Parts
• North America was the largest region in the automatic bending machine market in 2023
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