Press Brakes Market is Big Booming with Business Experts to Reach $995.3 million by 2032 | Top Industry Growth

Press Brakes Market Dynamics, Drivers, Key Indicators and Forecast to 2032

WILMINGTON, DE, UNITED STATES, October 7, 2024 /EINPresswire.com/ -- 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.

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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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.

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.

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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.

Top Players:
Prima Industrie SpA, ADH Machine Tool, Cincinnati Incorporated, ERMAKSAN, Durmazlar Machinery Inc., Accurl CNC Machine Anhui Manufactory Co., Ltd., Baykal Makina Sanayi ve Ticaret A.S., LVD Company NV, Amada Company, Ltd., Dener Makina

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David Correa
Allied Market Research
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