Cutting and Bending Machine Market Professional Survey Report 2022

The size of the world market for cutting and bending machines was US$ 7,751.7 million in 2021, and analysts predict it will reach US$ 8,238.3 million in 2022. Additionally, it is anticipated that overall sales of cutting and bending machines will increase at a 7.1% CAGR between 2022 and 2032, reaching a valuation of US$ 16,383.6 Mn by 2032, due to growing adoption across a variety of industries, including automotive, aerospace, electronics, and construction.
Cutting and bending machines are now commonplace in the manufacturing sector, where they are used more frequently to quickly and more accurately cut and bend objects.
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Manufacturers of automotive and electronic components once had to use manual machines that were cumbersome and produced less accurate final goods. Following manually operated machines, semi-automatic machines appeared. Recently, these machines have been operated automatically, which has aided in these markets' transition to the digital era.
Modern automatic cutting and bending equipment is highly effective and produces cuts and bends with greater precision. They have made it possible for manufacturing companies to save money, significantly increase overall productivity, and use less labor.
During the forecast period, the global market is anticipated to grow strongly due to the adoption of cutting and bending machines in manufacturing sectors like automotive, aerospace, electrical & electronics, marine & construction.
Similar to this, it is anticipated that in the coming years, sales of cutting and bending machines will increase due to the flourishing sheet metal fabrication industry and rising demand for sheet metal in industries like aerospace and automotive.
Sales of cutting machines, which are unavoidably used in industrial development and metal manufacturing, have increased significantly. The process of creating structures out of raw metal material, which involves cutting, bending, welding, and forming, is known as metal fabrication. The highly cyclical metal fabrication industry is essential to the development of the automotive, aerospace, building, and energy sectors.
The industry has been forced to streamline production processes and focus on the capacity to consistently produce high-capacity output as a result of the market's volatility. Due to the demand for highly effective and sophisticated cutting and bending equipment, the market as a whole expands, providing many opportunities for participants to diversify their product lines and increase their product revenue on a global scale.
Businesses are making sizable investments in order to increase their production in the local market and seize expansion opportunities. They place a strong emphasis on offering internet of things and other cutting-edge technology-integrated solutions, especially for process monitoring, preventive maintenance, and lights-out production capability. Therefore, over the next ten years, the market will grow quickly thanks to the development of new cutting and bending machines that are integrated with cutting-edge technologies.
Approximately 45% to 55% of the total market for metal processing equipment is made up of cutting and bending machines globally, and over the next ten years, this percentage is anticipated to increase as demand for cutting and bending machines of the highest calibre grows across the globe.
North America is anticipated to grow regionally at a strong CAGR of 7.6% between 2022 and 2032, making up about 30% of the volume and value share of the global market for cutting and bending machines. The region's growth is being fueled by the rapidly expanding automotive and aerospace sectors, rising automation levels, and accessibility to high-tech cutting and bending equipment.
What Makes the U.S. Prominent Market for Cutting and Bending Machines?
“Flourishing Automotive Industry Pushing Demand for Cutting and Bending Machines in the U.S.”
According to FMI, the U.S. market for cutting and bending machines currently accounts for 70% of the North American market and is expected to grow by 1.9 times by the year 2032. The U.S. market is primarily driven by the automotive industry's rapid expansion, automation's growing penetration, and the dominance of major manufacturers.
The automobile industry in the United States is the 12th-ranked industry and is a very innovative and technologically advanced sector. During the forecast period, there is anticipated to be a high demand for cutting and bending machines due to the U.S. automotive industry's rapid growth.
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