Panel Bender Market Size, Share, Growth and Industry Analysis by Type (Semi-automatic, and, automatic) By Application (Automobile, aeronautics and astronautics, electric apparatus, and, other) Regional Forecast To 2031

Updated On: 15 April 2024

PANEL BENDERS MARKET REPORT OVERVIEW

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The global panel bender market size was USD 768.02 million in 2022 and the market is projected to touch USD 1284.57 million by 2031, exhibiting a CAGR of 5.88% during the forecast period.

A panel bender is a specialized machine used in the sheet metalworking industry for bending and shaping flat metal sheets. It automates the process of folding, curving, and bending large panels with precision and efficiency. Panel benders are equipped with various tools and dies, allowing them to create complex shapes, such as L-angles and U-channels, in a wide range of materials, including steel, aluminum, and stainless steel.

These machines are essential in industries like automotive, aerospace, and construction, where precise and repetitive bending of metal sheets is required. Panel benders improve production speed, reduce manual labor, and enhance the overall quality of fabricated parts. These acts as the factors driving the panel bender market growth.

COVID-19 Impact: Demand for Panel Benders in Healthcare Industry During Pandemic Increased Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic brought mixed impacts to the panel bender industry. Initially, disruptions in the supply chain and workforce shortages affected production and deliveries. Many manufacturing facilities scaled back or shut down temporarily due to lockdowns. However, as the pandemic continued, the demand for panel benders in industries like healthcare (for equipment production) and infrastructure (for ventilation systems) increased. The need for social distancing and automated processes also drove some companies to invest in panel bender technology. In the long term, the industry adapted by implementing safety measures and saw a resurgence as automation and precision became essential, reflecting a shift in the market's dynamics.

LATEST TRENDS

"Usage of 3D Visualization Technology to Accelerate Market Growth"

Innovations in panel bender technology have transformed the sheet metal fabrication landscape. Notable advancements include the integration of artificial intelligence (AI) and machine learning, enabling automated tool selection and optimization of bending sequences for greater efficiency and precision. Laser measurement systems have enhanced accuracy, allowing real-time adjustments during the bending process.

 Additionally, 3D visualization technology provides a virtual preview of the final product, reducing errors. Some modern panel benders are equipped with robotic arms for material handling, further streamlining production. These innovations have led to increased productivity, reduced waste, and improved overall versatility, making panel benders an essential component of modern sheet metal manufacturing.

PANEL BENDER MARKET SEGMENTATION

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• By Type:

The market can be divided on the basis of type into the following segments:

Semi-automatic, and, automatic. The semi-automatic segment is anticipated to dominate the market during the forecast period.

The semi-automatic segment in the panel benders market represents a bridge between manual and fully automated solutions. These machines offer a balance between operator control and automated precision, making them ideal for manufacturers seeking efficiency without the complexity of full automation. Semi-automatic panel benders are favored for their versatility in handling a wide range of sheet metal applications.

• By Application:

Classification based on application into the following segment:

Automobile, aeronautics and astronautics, electric apparatus, and, other. The automobile segment is predicted to dominate the market during the research period.

In the panel benders market, the automobile segment plays a vital role, serving the automotive industry's demand for precise and complex sheet metal components. These machines are essential for bending and shaping vehicle parts like body panels, chassis components, and structural elements. The automobile segment drives innovation in panel bender technology to meet the ever-evolving needs of the automotive manufacturing sector.

DRIVING FACTORS

"Growing Demand for Customized and Complex Sheet Metal Parts to Amplify Market Growth"

Several driving factors propel the panel bender industry. Automation and efficiency are at the forefront, as manufacturers seek to reduce labor costs and improve production speed. The growing demand for customized and complex sheet metal parts, especially in industries like automotive and aerospace, drives the need for precise and versatile bending equipment. Additionally, environmental concerns push for reduced material waste, making precision panel benders more attractive.

 The construction and infrastructure sectors also contribute, with increasing requirements for ductwork and ventilation systems. Lastly, the digitalization of manufacturing processes and the adoption of Industry 4.0 principles promote the integration of advanced panel bender technology in modern production facilities. All of the above-mentioned factors are driving the panel bender market share.

"Growing Need for Specialized Panel Benders to Propel Market Growth "

Beyond automation and industry demands, other driving factors in the panel bender market include advancements in material science. As more complex materials and alloys are used in manufacturing, the need for specialized panel benders capable of handling these materials has increased. Energy efficiency and sustainability are becoming critical considerations, with modern panel benders designed to reduce energy consumption and material waste. Moreover, expanding markets in emerging economies with growing manufacturing sectors boost the demand for panel benders. Lastly, the constant push for cost reduction and increased competitiveness drives manufacturers to invest in advanced panel bender technology to optimize their production processes and remain competitive in the global market.

RESTRAINING FACTOR

"Strict Environmental Regulations and Safety Standards to Decrease Market Growth"

Several restraining factors affect the panel bender industry. High initial capital investment can be a significant barrier, particularly for small and medium-sized enterprises. The learning curve associated with operating complex panel benders can also hinder adoption. Maintenance costs and downtime due to machine breakdowns are concerns. Moreover, global economic uncertainties and fluctuations in demand can create market instability.

 Environmental regulations and safety standards can lead to additional compliance costs and complexities. Additionally, resistance to change and a conservative approach to adopting new technology in traditional manufacturing industries can slow down the transition to advanced panel bender solutions. Overcoming these challenges is crucial for the continued growth of the panel bender market.

PANEL BENDERS REGIONAL INSIGHTS

"Europe to Dominate Market Share in Upcoming Years Due to Strong Tradition of Precision Engineering"

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Europe stands out as the leading region in the panel bender market. Its dominance can be attributed to several factors. European manufacturers have a strong tradition of precision engineering, producing high-quality panel benders renowned for their accuracy and versatility. Additionally, European industries such as automotive, aerospace, and manufacturing rely heavily on sheet metal fabrication, driving the demand for advanced bending equipment.

Stringent environmental regulations have incentivized the adoption of energy-efficient and eco-friendly panel benders. Furthermore, a skilled workforce and robust infrastructure for research and development contribute to ongoing innovation in the industry. Europe's leadership underscores its pivotal role in the global panel bender market.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Ragos (Greece)
• Prima Power (Italy)
• RAS Reinhardt Maschinenbau GmbH (Germany)
• TRUMPF (Germany)
• ADH Machine Tool (Taiwan)
• AMADA (Japan)
• Salvagnini (Italy)
• Durmazlar (Turkey)
• ACCURL (China)

INDUSTRIAL DEVELOPMENT

• September 2021: Introducing an innovation with over 20 servo-electric axes, delivering remarkable energy efficiency for substantial cost savings. Experience advanced control for intricate shapes across various materials, ensuring high-quality finishes that drive business expansion. Achieve equivalent productivity to 3-5 press brakes, offering unmatched flexibility and rapid returns on your investment.

Report Coverage

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.