Press Brakes Market size to increase by USD 520.8 million between 2022 to 2027, Market Segmentation by Application and Geography, Technavio

NEW YORK, April 19, 2024 /PRNewswire/ -- The global press brakes market size is estimated to grow by USD 520.8 mn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of almost 5.23% during the forecast period. Press brakes are essential in metalworking industries for producing high-quality materials efficiently. Modern press brakes utilize Computer Numerical Control (CNC), Servo hydraulic mechanisms, and bending software programs for accuracy and repeatability. Advanced models offer environmental protection, energy saving, and high precision, while servo hydraulic systems ensure speed control and electricity consumption efficiency. Connected press brakes provide real-time monitoring, data analytics, and automation for manufacturing processes in aerospace, construction, and other industries. Work safety is paramount, with human operators handling heavy substances and repetitive tasks, requiring industry-standard tool changing, bending sequences, and work safety protocols.

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The Application segment emerges as the fastest-growing segment in the press brakes market

The press brake market encompasses electrically-powered, connected solutions that optimize metal fabrication processes. Real-time monitoring and data analytics enable manufacturers to enhance productivity and efficiency. Hydraulic and electric press brakes, as essential bending tools, are integral to industries such as aerospace and construction. They manipulate metallic fabrication, including sheet steel, through precision bending sequences, utilizing tonnage and pressure to create angles, bends, and forms. Automation via robot systems and material handling systems streamline manufacturing processes, ensuring work safety for human operators. Tool changing and back gauge positioning are crucial for handling heavy substances and repetitive tasks. Industry needs continue to evolve, driving advancements in tooling technologies and power sources, including electric and hydraulic systems.

In the APAC region, the automotive industry's robust growth has led to increased demand for metallic fabrication, particularly in the production of commercial vehicles. Modern press brakes play a crucial role in this process, offering precision, pressure, and efficiency. These advanced machines come in both electric and hydraulic versions, capable of forming angles, bends, and complex shapes in sheet steel. Parameters such as back gauge position, tonnage, and bending sequences can be easily controlled using computer numerical control (CNC) systems, servo hydraulic mechanisms, and bending software programs. This results in high accuracy, repeatability, and energy savings. Press brakes are essential in various metalworking applications, including aerospace, construction, and automobile manufacturing. With real-time monitoring, data analytics, and material handling systems, these machines offer significant advantages in terms of speed control, electricity consumption, and environmental protection. Additionally, tool changing and robot systems further enhance their versatility and automation capabilities.

Commenting on the market trends, a Senior Analyst of Technavio, stated," Press brakes, integral to electric, hydraulic, and metallic fabrication, leverage IoT for real-time monitoring and data analytics. Fitted with sensors, they transmit process data, including tonnage, back gauge position, and energy consumption, enhancing precision, repeatability, and efficiency in building, automobile, and aerospace industries. IoT enables advanced servo hydraulic systems, speed control, and tool changing, promoting high precision, energy saving, and environmental protection in modern press brake applications."

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Analyst Review

The Press Brakes market encompasses advanced technologies and applications in electric, hydraulic, and metallic fabrication. These machines are essential in forming and bending sheet steel for various industries, including building and automobile sectors. Operators utilize precise parameters to ensure accuracy and repeatability in creating angles, bends, and forms. Tonnage and back gauge position are critical factors in determining the capacity and efficiency of press brakes. Modern press brakes incorporate Computer Numerical Control (CNC) systems, servo hydraulic mechanisms, and bending software programs to optimize performance. High precision and high efficiency are key benefits of these systems, which contribute to environmental protection and energy savings. Servo hydraulic systems enable advanced features, such as fine-tuning and automatic adjustments, enhancing the overall productivity and quality of metalworking applications.

Market Overview

The press brake market is a significant player in the metalworking industry, offering solutions for shaping and bending metal components. With components such as hydraulic press brakes, sheets, forms, and bending tools, this sector caters to various industries, including automotive, aerospace, and construction. Press brakes come in various sizes and capacities, from small manual models to large CNC-controlled machines. These machines use force and precision to bend metal sheets into desired shapes, making them essential for manufacturing processes. The market for press brakes is driven by factors such as increasing demand for automotive components, growing infrastructure development, and advancements in technology. Moreover, the trend towards automation and customization is shaping the press brake market, with manufacturers focusing on developing machines that offer greater flexibility and efficiency. The future of this market looks promising, with continued growth and innovation expected in the years to come.

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio