UЅD $2,498.5 Мn by 2030 | Pipe Bending Machines Market - Steady Expansion of the Automotive Sector Boost Growth | MarketResearch.Biz

Pipe bending or tube bending is any metal forming process used to permanently form or shape pipes or tubing. Pipe bending may be form-bound or use freeform-bending procedures, and it may use heat supported or cold forming procedures.

The Global Pipe Bending Machines Market was valued at UЅD $1,632.0 Мn in 2020, and is projected to achieve a valuation of UЅD $2,498.5 Мn by 2030, at a САGR of 5.2%. The 5-year (2020–2025) cumulative revenue of this market is projected to be over $2,045.7 Mn, and is estimated to increase moderately over the latter part of the forecast period.

Pipe bending machines are extensively used in the automotive industry for a wide array of applications, and as this given sector is experiencing a healthy surge in production numbers as a direct result of booming global populations, robust levels of urbanization and industrialization being registered across the world. This is a major factor that is anticipated to continue fueling the revenue growth of the Global Pipe Bending Machines Market in turn. Additionally, steady growth of the aerospace and shipbuilding end-use sectors is expected to translate into a greater demand for these machines, leading to better opportunities for market growth in the years to come. Furthermore, there are numerous favorable benefits these machines offer, such as high accuracy, increased volume production, interchangeable tool compatibility, as well as the fact that these machines are also available at varying price points, owing to which they are increasingly being adopted for a range of various applications in industries such as these. In addition to this, as we gradually make our transition towards Industry 4.0, where automation solutions begin to be increasingly applied to a host of industries, the demand for these products is expected to surge accordingly.

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Furthermore, the high availability of these machines at varying price points, as well as the numerous advantages of these machines such as low wastage, high accuracy, interchangeable tools compatibility, high volume production, etc., are also major factors that are slated to impact the revenue growth of the global pipe bending machines market in the near future.

Segmentation of the Global Pipe Bending Machines Market is as follows:

In terms of power, the electric segment accounted for the maximum number of revenue shares of the global pipe bending machines market in 2020, and is expected to continue doing so over the forecast period. The hydraulic segment is also anticipated to index a high CAGR over the next 10 years.

On the basis of industry vertical, the automotive segment accounted for the maximum number of revenue shares of the global pipe bending machines market in 2020, and this segment is slated to continue to do so over the next 10 years. The aerospace segment is expected to register a high CAGR over the forecast period.

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Key Players: 

• Covestro AG
• Saudi Basic Industries Corporation (SABIC)
• Teijin Limited
• LOTTE Chemical Corporation (LOTTE Advanced Materials Co., Ltd.)
• Mitsubishi Chemical Holdings Corporation
• LG Chem Ltd.
• Formosa Chemicals & Fibre Corporation
• Trinseo S.A.
• Asahi Kasei Corporation
• Samyang Corporation
• Idemitsu Kosan Co. Ltd.
• Sumitomo Chemical Co. Limited
• Ube Industries Ltd. (GRUPO REPOL)
• Chi Mei Corporation
• Clariant AG

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Regional Segmentation and Analysis:

Markets in the Asia Pacific region accounted for the maximum number of revenue shares of the global pipe bending machines market in 2020, and are indicative of remaining this industry’s front-runner over the next decade. North America is also anticipated to register a high CAGR over the course of the forecast period.

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