“Global Pipe Bending Machines Market, By Power (Manual, Electric, Hydraulic, Pneumatic), By Industry Vertical (Automotive, Aerospace, Shipbuilding, Construction, Other Industry Verticals), as well as by Region – Global Forecast 2021 to 2030.”, which offers a comprehensive view of the Global Pipe Bending Machines Market through systematic segmentation that encompasses every aspect of this target market. 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 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.
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. These are some of the most crucial factors anticipated to play a critical role in catapulting projected revenues for the Global Pipe Bending Machines Market to $2,498.5 Mn by 2029, at a CAGR of 5.2%.
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