Press Brakes Market Expected to Reach $995.3 Million by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Press Brakes Market," The press brakes market size was valued at $568.15 million in 2022, and is estimated to reach $995.3 million by 2032, growing at a CAGR of 5.9% from 2023 to 2032.

A press brake is a machine utilized in metalworking and fabrication procedures to bend and shape sheet metal. It consists of an effective hydraulic or mechanical press that applies force to a metal workpiece, forcing it into a predetermined form by means of a die. The press brake's adjustable back gauge allows for specific and repeatable bends, making it a versatile tool for the manufacturing of diverse metal components. Commonly found in manufacturing settings, press brakes are crucial for forming metallic parts utilized in industries inclusive of automotive, aerospace, and construction. Growing industrialization is one of the major factor driving the growth of press brakes market.

Press brakes give manufacturers unmatched control over the metal shaping system because of their cutting-edge features, which include CNC systems, laser-based positioning, and adaptive bending technologies. Press brakes are used by the construction industry to manufacture structural elements and by the automobile industry to produce intricate and vital components for vehicle building. Press brakes are predicted to become more and more necessary tools in the evolving sector of metal manufacturing as infrastructure construction projects proliferate throughout the globe. This tendency is further highlighted by the fact that press brakes' versatility enables manufacturers to satisfy a broad range of customer requests and respond to the shifting needs of diverse industries.Such factors are expected to drive the growth of press brakes market share.

Additionally, computerized press brakes contribute to work safety by mitigating the need for human operators to handle heavy substances and repetitive tasks. The synergy of automation and press brake technology is evident within the usage of Computer Numerical Control (CNC) systems, allowing for specific programming and execution of bending sequences. Which not only guarantees constant and extremely good output but also enables the seamless adaption of press brakes to various manufacturing necessities. The trajectory towards more automation aligns with the broader industry trends of enhancing operational efficiency, lowering labor wages, and embracing smart production standards, positioning automatic press brakes as necessary assets inside the current landscape of steel fabrication. Such factors are expected to drive the growth of press brakes market.

For instance, in August 2022, Accurl displayed the eB Ultra Series, the heavy duty full electric servo press brake. At the Hannover exhibition, the models shown were New servo electric press brake eB Ultra 35tx1250 and Hybrid Servo Press Brake EuroMaster B32.175. These press brakes offer four characteristics of “environmental protection, energy saving, high precision, and high efficiency”. Such instances drive the growth of press brakes industry.

However, the market's expansion is hindered by the high initial cost of press brake acquisition. Press brakes typically cost between $12,000 and $16,000. Modern press brakes are sometimes very expensive up front, especially those equipped with advanced features like automation, precise bending skills, and Computer Numerical Control (CNC) systems. For small and medium-sized businesses (SMEs) or organizations with limited resources, this financial barrier might present a difficult scenario by limiting their capacity to invest in the newest press brake technology.Such factors are expected to restrain the growth of press brakes market.

Furthermore, the growing need for specialized solutions that address a variety of industry needs and applications presents a significant opportunity for press brake producers. This possibility is driven in particular by the adaptability of press brake technology, which allows precise bending and forming of sheet metal components in compliance with specific project specifications. Manufacturers can carve out a niche for themselves in the market by producing press brake models specifically designed for the automotive, aerospace, or architectural fabrication industries. Additionally, the value to the clients is increased. Because of advancements in tooling technology, the variety of customized options is further expanded by the ability to customize bending tools for materials and geometries. Such factors are expected to offer lots of opportunities for the press brakes market growth during the forecast period.

Key Findings of the Study

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the press brakes market analysis from 2022 to 2032 to identify the prevailing press brakes market opportunity.
• By product type, servo-electric segment was the highest revenue contributor to the market and is expected to be the fastest-growing segment exhibiting the highest CAGR during the forecast period.
• By power source, the electric segment was the highest revenue contributor to the market and is expected to be the fastest-growing segment exhibiting the highest CAGR during the forecast period.
• Based on axis, 2 to 4 axis segment was the highest revenue contributor to the market and the 4 to 6 axis segment is expected to be the fastest-growing segment exhibiting the highest CAGR during the forecast period.
• Based on region, the Press brakes market forecast is analyzed across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific region was the highest revenue contributor to the market, and Middle East and Africa region is expected to grow at a CAGR during the forecast period.
• The report includes the analysis of the regional as well as global press brakes market trends, key players, market segments, application areas, and market growth. strategies.