Press Brakes Market to Reach $995.3 Million, Globally, by 2032 at 5.9% CAGR: Allied Market Research

Increase in demand in metal fabrication, technological advancements, and rise in adoption of automation drive the growth of the press brakes market.

New Castle, Delaware, March 19, 2024 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Press Brakes Market by Product Type (Hydraulic, Hybrid, Servo-electric, and Others), Power Source (Electric and Hydraulic), and Axis (2 to 4 Axis, 4 to 6 Axis, and 6 to 8 Axis): Global Opportunity Analysis and Industry Forecast, 2023-2032 “. 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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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

Report Coverage & Details:

Report Coverage Details
Forecast Period 2023–2032
Base Year 2022
Market Size in 2020 $568.1 million
Market Size in 2032 $995.3 million
CAGR 5.88%
No. of Pages in Report 220
Segments covered Product Type, Power Source, Axis, and Region.
Drivers Increase in Demand in Metal Fabrication.

Technological Advancements.

Increase in Adoption of Automation

Restraint High Initial Investment.
Opportunity Customization and Specialized Solutions.

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.

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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.

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.

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Leading Market Players: –

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

The report provides a detailed analysis of these key players in the press brakes market. These players have adopted different strategies such as investments, and acquisitions to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

 We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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