CNC WIRE BENDING MACHINE MARKET GROWTH

A wire bending machine is a forming tool, its purpose is to assemble a bend on a work piece. Wire bending machines are a fully developed and fragmented market in terms of vendors and companies. Many big international vendors face direct competition from local and small vendors, thus reducing their profit margins. The high accuracy and safety of advanced programmable bending machines drive the growth of the automatic bending machine market.

Wire bending machine market size:

The bending machines market estimated to grow with a CAGR of 4.4% during the forecast period. The consistent growth in the above mentioned industries has encouraged the demand for new and improved version of bending machines.

Automatic bending machine are easy to use and unload work pieces. It is expected to account for a larger market share than that of the semiautomatic type bending machines.

Electric bending machine not only offers precision, but also more power efficient than other technology based on bending machines. It is easy to use and offers low power consumption.

Factors that contribute to this market growth are the presence of skilled labor, advanced technology and development infrastructure. Some of the wire bending machine applications includes automotive, transport machinery, precision engineering, building and construction, etc. As time evolved, steel bending processes witnessed a rapid evolution from traditional mechanical bending to modern and accurate CNC bending machines.