New Castle, Delaware, March 19, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Press Brakes Market by Product Type (Hydraulic, Hybrid, Servo-electric, and Others), Power Source (Electric and Hydraulic), and Axis (2 to 4 Axis, 4 to 6 Axis, and 6 to 8 Axis): Global Opportunity Analysis and Industry Forecast, 2023-2032 ". According to the report, the global press brakes market was valued at $568.1 million in 2022 and is projected to reach $995.3 million by 2032, registering a CAGR of 5.88% from 2023 to 2032.
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Prime determinants of growth
The growing need for metal fabrication across various industries, such as automotive, aerospace, and construction, is a significant driver for the press brake market. Infrastructure development projects worldwide, such as construction of highways, bridges, and buildings, contribute to the demand for press brakes in metal fabrication for various components. High initial investment is a major restrain for market growth. Moreover, the integration of Industry 4.0 technologies, such as IoT (Internet of Things) and data analytics, into press brake systems presents opportunities for enhanced monitoring, predictive maintenance, and overall process optimization
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2020 | $568.1 million |
| Market Size in 2032 | $995.3 million |
| CAGR | 5.88% |
| No. of Pages in Report | 220 |
| Segments covered | Product Type, Power Source, Axis, and Region. |
| Drivers | Increase in Demand in Metal Fabrication. Technological Advancements. Increase in Adoption of Automation |
| Restraint | High Initial Investment. |
| Opportunity | Customization and Specialized Solutions. |
The servo-electric segment to maintain its leadership status throughout the forecast period.
By product type, the servo-electric segment held the highest market share in 2022, accounting for more than one-third of the press brakes market revenue and is estimated to maintain its leadership status throughout the forecast period and is projected to manifest the highest CAGR of 6.5% from 2023 to 2032, owing to energy efficiency, precise control, lower maintenance costs, and reduced environmental impact.
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The electric segment to maintain its leadership status throughout the forecast period.
By power source, the electric segment held the highest market share in 2022, accounting for nearly three-fourths of the press brakes market, and is estimated to maintain its leadership status throughout the forecast period. In addition, the electric segment is projected to manifest the highest CAGR of 5.9% from 2022 to 2032. This is attributed to the rising demand for electric press brake machines due to the ease of availability and performance of electric machines.
The 2 to 4 axis segment to maintain its lead position during the forecast period.
By axis, the 2 to 4 axis segment accounted for the largest share in 2022, contributing to more than two-fifths of the press brakes market revenue, and the 4 to 6 axis segment is expected to portray the largest CAGR of 6.3% from 2023 to 2032. Growth in the industrial sector in developing countries such as China, Japan, India, Africa, and others are driving the 2 to 4 axis segment of the press brakes market. Such factors are having a positive impact on the press brakes market.
The Asia-Pacific region to maintain its leadership status throughout the forecast period.
By region, Asia-Pacific held the highest market share in 2022, accounting for nearly half of the press brakes market revenue and is estimated to maintain its leadership status throughout the forecast period, and the Middle East and Africa is projected to manifest the highest CAGR of 6.8% from 2023 to 2032. This is owing to the rise in urbanization and industrialization in developing countries such as Africa and the Middle East.
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Leading Market Players: -
- Durmazlar Machinery Inc.
- Accurl CNC Machine Anhui Manufactory Co., Ltd.
- Amada Company, Ltd.
- Baykal Makina Sanayi ve Ticaret A.S.
- ADH Machine Tool
- Cincinnati Incorporated
- Dener Makina
- Ermaksan
- LVD Company NV
- Prima Industrie SpA
The report provides a detailed analysis of these key players in the press brakes market. These players have adopted different strategies such as investments, and acquisitions to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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