Metal Banding Machine Market is Expected to Reach at a US$ 1,050.7 Million by 2033 | FMI

The metal banding machine market is anticipated to expand its roots at an average CAGR of 4.0% between 2023 and 2033. The market is expected to have a market share of US$ 1,050.7 million by 2033, while it is likely to be valued at US$ 709.6 million in 2023

• The restoration of industrial expansion post-pandemic has led to manufacturers demanding higher productivity and efficiency. The machines make it easier for the end user to bend metal faster. Hence, the flourishing market growth is attributed to the brands investing in machines.
• The machine-friendly and skilled technicians available in the line of work are also increasing the adoption of metal banding machines. Furthermore, a surge in businesses involving the application of metal is propelling the market.
• The metal banding machine’s usage is diverse and rich, from automobiles and construction to aircraft panels, cabinets, and housing applications. Machines with higher power and bending capacity while consuming less power are adding value to the market growth.
• The advent of machines in integration with skillful workers guarantees higher accuracy in the bending process while also delivering factors like less post-processing, less weight, low cost, etc.

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 Key Points

1. The United States market leads the metal banding machine market in terms of market share in North America. The United States region held a market share of 18.2% in 2022. The growth in this region is attributed to expanding industrial and production space, new research and development facilities, and the brand’s investment in machines to cut operational costs. The North American region held a market share of 19.8% in 2022.
2. The German market is another important market in the European region. The market held a market share of 5.3% in 2022. The growth is attributed to the large automobile production units, aircraft manufacturing facilities, and industrial automation. The European region held a market share of 26.9% in 2022.
3. The Indian metal banding machine market thrives at a CAGR of 5.5% between 2023 and 2033. The growth is attributed to the large industrial space, enhanced exports, and metal-based research facilities.
4. The Chinese market also thrives at a CAGR of 4.6% during the forecast period. The flourishing growth is caused by it being Asia’s leader in terms of product manufacturing.
5. Based on automation type, the automatic segment leads the market, holding a share of 48.8% in 2022.
6. Based on the orientation type, the horizontal segment leads the market, as it held a market share of 61.0% in 2022.

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Competitive Landscape

The key vendors focus on higher efficiency, productivity, and flexibility. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.

Recent Market Developments

Signode Industrial Group LLC has introduced its new strapping systems that cover a wide range of strapping operations from plastic and steel consumables.

Cyklop International has introduced the automatic banding machine named BM-105. The machine has a capacity of 90 packs per minute and is flexible.

Key Segments Covered

By Automation:

• Manual
• Semi-automatic
• Automatic

By Orientation:

• Horizontal Metal Banding Machine
• Vertical Metal Banding Machine

Key Regions Covered:

• North America
  • United States
  • Canada
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Europe
  • Germany
  • United Kingdom
  • France
  • Spain
  • Russia
  • Rest of Europe
• Japan
• Asia Pacific Excluding Japan
  • China
  • India
  • Malaysia
  • Singapore
  • Australia
  • Rest of Asia Pacific Excluding Japan (APEJ)
• The Middle East and Africa
  • GCC Countries
  • Israel
  • South Africa
  • Middle East and Africa (MEA)

About Future Market Insights Inc. (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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