According to a new market 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, the global cut and bend equipment market was valued at US$ 1,038.5 Mn in 2017. It is expected to reach US$ 1,603.5 Mn in terms of revenue by 2027, expanding at a CAGR of 4.6% from 2018 to 2027.The market in Asia Pacific is likely to expand at a rapid growth rate during the forecast period, due to a rise in infrastructure and construction activities in emerging economies such as India and China.
Cut & bend equipment is used for cutting and bending purposes. The global cut and bend equipment market is growing across the globe. Growing construction and infrastructure activities is expected to drive the overall market growth during the forecast period. Additionally, usage of advanced technologies is increasing the productivity of equipment which is expected to accelerate the global cut and bend equipment market across the world. However, the entry of local and regional players and instability in the construction industry is hampering the business growth of established players.
Cutting & shaping, and mesh cutting & bending equipment hold the maximum share in the cut and bend equipment market in terms of product type. Under cutting & shaping, stirrup machines hold the largest market share in terms of value and volume and are expected to continue their dominance in the coming years as well. Stirrup equipment can use coil and bar to complete the process, whereas bar shaping machines only use the bar material.
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Based on operation mode, the automatic segment is expected to hold major market share and expand at the fastest rate during the forecast period. As compared to semi- automatic equipment, automatic cut & bend equipment provides user friendly operations and also eliminates the need for routine maintenance. This is expected to increase the market attractiveness of the automatic segment during the forecast period.
Construction/engineering contractors hold major market share which is anticipated to rise at a significant growth rate during the forecast period. Demand for cutting & bending equipment in the construction industry is higher as compared to demand from steel producers and manufacturers. The construction industry utilizes automated machines for cutting the bars and has less demand for bending and de-coiling straightening machines.