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Albany, New York, Sept. 11, 2019 (GLOBE NEWSWIRE) -- In its latest publication, Transparency Market Research talks about the global cut and bend equipment market. According to the report, the cut and bend equipment market was initially valued at US$ 1,038 Mn in 2017. The market is projected to exhibit a steady CAGR of 4.6% over the course of the given forecast period of 2018 to 2027. With this growth rate, the market is projected to reach a mark of US$ 1,603.5 Mn by the fall of 2027.
Product Innovation and Enhanced Supply Chains Are Key Focus Points for Market Players
The vendor landscape of the global cut and bend equipment market is heavily influenced by several regional and local companies. The leading players in the market are expected to face a growing competition due to the increasing number of local players. The key focus of the companies in the cut and bend equipment market is on expanding their research and development activities. Additionally, product innovation and quality supply chains are also of prime importance to the leading companies. The companies in the market are also opting for strategic collaborations and joint ventures in order to stay ahead of their rivals. One notable instance of this is 2017’s co-operation agreement between Elematic and Eurobend. In March that year, the two companies signed an agreement that allowed Elematic to offer Eurobend reinforcing equipment as part of their manufacturing lines. This agreement helped in offering higher quality cut and bend equipment across the globe.
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Some of the leading companies in the global cut and bend equipment market include names such as Toyo Kensetsu Kohki Co. Ltd., TJK Machinery (Tianjin) Co. Ltd., TabukSteel, SwBend, Schnell SPA, Progress Investment Management, Progress Investment Management, Macchine Elettroniche Pirgatrici SPA, KRB Machinery, and Eurobend SA among others.
Asia Pacific to Develop Rapidly Riding on Growing Infrastructure Projects
In terms of geographical segmentation, the global cut and bend equipment market has five key regions viz. Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. During the given forecast period, Asia Pacific is expected to exhibit maximum growth potential. This is due to the presence of emerging economies such as India and China that are readily spending large sums of money on the development of their domestic infrastructure. Building and construction is a key vertical for any infrastructural development.
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Naturally, with increased spending on the development of infrastructure will lead to growth in the activities of building and construction. This, in turn, will directly help in pushing up the growth of cut and bend equipment market as the demand for such equipment will rise. Moreover, technological advancements such as industrial internet of things and automated equipment will help in cutting down the risks associated with the use of these cut and bend equipment. This is also expected to help the growth of the global market during the forecast period.
Among the two key segments of the global cut and bend equipment market, the cutting & shaping and mesh cutting & bending, the latter has been the leading segment. Under the segment of cutting & shaping, the stirrup machines have been the dominant product type in terms of both volumes as well as value. Their dominance is expected to continue over the course of the given forecast period.
On the other hand, in terms of mode of operation, the automatic cut and bend equipment segment will retain its growing popularity across the globe. These machines are more user-friendly, safe, and need low maintenance. Naturally, their uptake is higher than that of semi-automatic cut and bend equipment.
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This review is based on the research report published by Transparency Market Research titled “Cut and Bend Equipment Market (Product Type: Mesh Cutting & Bending, Cutting & Shaping; (Stirrups, Bar Shaping), Straightening, and Others; Operation Mode: Semi-Automatic and Automatic; End-user: Construction/Engineering Contractors, Manufacturing, Steel, Wire/Mattress, Others)); – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2027”
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The Global Cut and Bend Equipment Market Segmentation is as follows:
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