Press brake machine is a forming machine used to form sheet metal in a variety of shapes and sizes. The application of press brake machines generally involves positioning the metal pieces between a die and punch and folding them into the desired shape. Press brake machines are key elements of material handling and forming processes and are used in a diverse range of industries including automotive, aerospace, electric power, and other mechanical industries.
The global press brake machine market is expected to grow at a moderate rate during the forecast period. Increasing technological developments, such as automation and digital process, is enabling metal fabricators and metal working industries to grow faster and efficiently. This growth is supplemented by the increasing demand for light and precision products, which are enabled with press brake machines.
- Demand from Automotive Industry: The global press brake machine market is boosted by demand from automotive industry. The automotive sector is one of the major customers of press brake machines. The machines are used for various operations, such as bending, punching, shearing and forming of metal components in the automotive industry. The growing automobile production and the need for lightweight components are some of the major factors driving the demand for press brake machines.
- Continuous Product Innovation: Press brake machine manufacturers are continually innovating their products to meet the latest industry requirements. The increasing number of applications, in terms of scale and complexity, are permitting press brake machine manufacturers to innovate and design new press brake machines with better performance and accuracy. This factor is driving the growth of the press brake machine market.
Europe is expected to retain its dominance in the global press brake machine market during the forecast period, followed by Asia Pacific and North America. The increasing investments in the automotive industry and growing popularity of electric vehicles in the region are primary factors driving the press brake machine market in Europe. In North America, the implementation of modern automation and digital technology is driving the press brake machine market.
The global press brake machine market is highly competitive, with various global and local players competing for market share. Some of the major players operating in the market include Amada Co., Ltd., Trumpf Group, Bystronic Group, Durma USA, MAZAK Corporation, LVD S.A., Prima Power Oy, U.S. Industrial Machinery Corporation, Liming Press Brake Tooling Co. Ltd., and JMT USA.
The global press brake machine market is expected to grow due to increasing demand from the automotive industry and the continuous innovation of press brake machines. The rising investments in automation and digital technology will also drive the market over the coming years. The competitive landscape of the market is expected to remain intense, with many global and local players competing for market share.