- Bending press is a machine that is used across steel and metal processing industries for bending and forming metal sheets
- CNC bending press, hydraulic bending press, and mechanical bending press are the common types of machines. They come in various shapes, sizes, and configurations such as stroke, frame, and bend force delivery.
- CNC bending press are the most widely used machines across the globe, owing to their ability to provide easy operation, simple functions, modern design, flexible programming, and their cost saving features
- The market for bending press machines is anticipated to grow at a moderate pace during the forecast period. Significant technological developments resulting in enhanced machine performance are expected to drive the market.
Remarkable Modernization in Bending Press Technology to Drive the Global Bending Press Machine Market
- Modern bending press machines have evolved over time to keep pace with the need for rapid turnaround of components. The modernization in machines has provided metal fabricators with a competitive edge that the conventional bending press cannot even match.
- The modern machines have enabled the fabricators in North America to potentially compete with low cost labor available in other countries. Also, these machines are gaining significant traction in the market because they do not require much human involvement.
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Growth Opportunities for the Market Aligned with Growth in Shipbuilding Industry
- Recently, shipbuilding has experienced noteworthy growth in countries such as China, Japan, and South Korea. These countries cumulatively deliver nearly 80% of the ships in terms of CGT (Compensated Gross Tons).
- Europe is also seen as a major market for building cruise ships
- Growth of the shipbuilding industry in these regions is expected to create positive growth opportunity for the bending press machines market during the forecast period
Rise in Popularity of Metal Folding Machines to Restrict Market Growth
- Metal folding machines are becoming increasingly popular among metal fabricators as these machines have enhanced their capability as well as capacity over the years
- As these machines continue to evolve, they are likely to garner a significant share of the bending press machine’s potential clientele, thus hindering market growth in the next few years
Asia Pacific to Hold Leading Share of the Global Bending Press Machine Market
- In terms of geography, the global bending press machine market can be divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America
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- Country and sub-region level analysis of North America region features the U.S., Canada, and Rest of North America. Analysis and forecast of the bending press machine market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the market analysis and forecast of GCC, South Africa, and Rest of Middle East & Africa. The bending press machine market in South America is segmented into Brazil and Rest of South America.
- Asia Pacific dominated the global market in 2018, owing to presence of leading industry players as well as exponentially growing manufacturing and shipbuilding industry across China, Japan, India, and South Korea.
- The market in Asia Pacific is projected to expand at a rapid pace, followed by Europe and North America during the forecast period.