Press Brakes Market
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The global press brakes market size was valued at USD 557.3 million in 2023 and is estimated to grow at a CAGR of 5.6% during 2024 to 2032, due to the expanding manufacturing and metalworking sectors, particularly in automotive, aerospace, and construction industries. Such a requirement is fueling the growing use of press brakes, which are critical tools for the automated shaping and forming of complex metallic components.
The incorporation of automation and CNC technologies into press brakes has transformed the processes related to the operation and control of metal bending machines. These advancements improve quality and lower cycle times substantially. Automated and CNC-integrated press brakes allow plant operators to incorporate more detailed designs into the finished product while reducing waste and enhancing efficiency. This development places press brakes in a very desirable place as many industries are seeking high efficiency in production and low costs in operation.
Moreover, increasing infrastructural developments such as structural or electrical fabrication or even mechanical building in developing countries have further increased the need for this machinery. Sustained economic growth in North America, Europe, and the Asia-Pacific region is leading to considerable investments in the construction industry. Consequently, there is a rising demand for press brake machinery, which is being met through large investments by countries like China and India alongside other countries within this region.
Report Attribute | Details |
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Base Year: | 2023 |
Press Brakes Market size in 2023: | USD 557.3 Million |
Forecast Period: | 2024 to 2032 |
Forecast Period 2023 - 2032 CAGR: | 5.6 |
2023 Value Projection: | USD 902.2 Million |
Historical Data for: | 2021 - 2023 |
No of Pages: | 230 |
Tables, Charts & Figures: | 397 |
Segments Covered: | By Product, Axis Configuration, End Use, Distribution Channel, Region |
Growth Drivers: |
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Pitfalls Challenges: |
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The market is divided into four segments, electric, hydraulic, mechanical, and pneumatic. The electric product category is the largest revenue-generating segment of the market, accounting for 225.5 million in 2023 and is predicted to develop at a CAGR of 5.8%.
Based on distribution channel, the indirect segment dominates the market with a share of 61.2% in 2023 and is project to increase CAGR of 5.5% during 2024 to 2032.
The U.S. press brakes market held approximately 75.4% revenue share in 2023 and is expected to register more than 5.5% CAGR through 2032.
North America: When focused on country level, USA occupies around 75.4% share of the total press brakes market in North America in 2023 and is expected to post a CAGR of 5.5% in the forecasted period. Integration of CNC & automation technologies is more advanced in the US and as such there is a high preference for electric and CNC incorporated press brakes. Further, government policies aimed at enhancing sustainable manufacturing along with the modernization of infrastructures continue to enhance the need for the market. Corporates are increasingly in need of and acquiring energy efficient and high-quality equipment as part of these incentives.
Europe: The press brakes market in Europe is estimated to grow at a CAGR of 5.7% in the forecast period, attributed to the manufacturing capacity the country has especially in automotive, engineering and machinery. The country is recognized for the precision and advanced technologies which in turn leads to greater need for efficient and accurate metal forming tools among which press brakes are a necessity. In addition, Germany’s engagement with the market’s movement towards the electric models to promote sustainability contributes to the country’s leadership and strength in the European press brakes sector.
Asia Pacific: The press brakes market in Asia Pacific is dominated by China which held the market share of about USD 30.7% in 2023 and is expected to rise at a rate of 6.3% during the forecast period, owing to its massive industrial and manufacturing sectors for the automotive, construction, and electronics industries. Being the highest exporter of manufactured goods, China competes in market for better and greater capacity metal processing machinery, thus increasing the demand for press brakes. The rapid urban growth in the country and massive infrastructure projects provide an additional boost to the need for metal fabrication machinery.
Major players operating in the press brakes industry are:
The press brakes market is distributed with multiple regional players operating internationally. In aggregate, these companies account for 15% to 20% of the overall market share. Such fragmentation provides opportunities for regional firms to better serve their customers by being familiar with their demands, regulations, and pricing strategies, thus enabling them to fill out niche markets. Targeting small to medium enterprises, many of these companies offer low cost and flexible options.
Market, By Product Type
Market, By Axis Configuration
Market, By End Use
Market, By Distribution Channel
The above information is provided for the following regions and countries:
The key players in the industry include Accurpress, Amada, Baykal, Bystronic, Cincinnati, Durma, ERMAKSAN, Haco, LVD, MVD Inan, Prima Power, SafanDarley, Salvagnini, TRUMPF, and Yawei.
The U.S. market accounted for 75.4% share in 2023 and is expected to expand at a 5.5% CAGR during the forecast period, led by its robust industrial base and rapid adoption of advanced manufacturing technologies.
The indirect segment accounted for 61.2% of the total market share in 2023 and is expected to witness 5.5% CAGR over the forecasted years, benefiting from an extensive network of distributors, dealers, and online platforms.
The market size of press brakes reached USD 557.3 million in 2023 and is set to grow at a 5.6% CAGR from 2024 to 2032, driven by the expansion of manufacturing and metalworking industries.