The Asia Pacific Press Brakes Market would witness market growth of 6.1% CAGR during the forecast period (2023-2030).
The China market dominated the Asia Pacific Press Brakes Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $81,563.1 Thousands by 2030. The Japan market is registering a CAGR of 5.4% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 6.8% during (2023 - 2030).
Various manufacturing industries rely on these machines to produce machinery, equipment, appliances, and consumer goods components. These machines fabricate parts such as enclosures, frames, housings, brackets, and panels across various manufacturing applications. The increasing manufacturing sector is driving the demand.
Furthermore, these machines are employed in the electronics industry for manufacturing enclosures, chassis, brackets, and other metal components used in electronic devices, telecommunications equipment, and computer hardware. The precise bending capabilities of these machines are essential for ensuring electronic assemblies' proper fit and functionality.
According to the National Investment Promotion & Facilitation Agency, electronic components production is expected to reach $18 Bn by (fiscal year) FY26. India's domestic production has increased by 13% from $49 Bn in FY17 to $101 Bn in FY23. Additionally, as per the US Energy Information Administration, in 2021, China was the world's top energy producer and consumer. Primary energy production grew by more than 6%, and energy production across sources grew. The fastest-growing energy sources year-over-year were nuclear (11%), renewables (9%), and natural gas (8%). In 2022, non-fossil fuels account for 49% of total installed electricity generation capacity, most of which came from hydroelectric (16%), solar (15%), and wind (14%). Thus, the growing electronics component industry and expansion of the region's energy sector are propelling the market's growth.
Free Valuable Insights: The Global Press Brakes Market is Predict to reach USD 831.5 Million by 2030, at a CAGR of 5.7%
Based on Power Source, the market is segmented into Electric, and Hydraulic. Based on Axis, the market is segmented into 2 to 4 Axis, 4 to 6 Axis, and 6 to 8 Axis. Based on Product Type, the market is segmented into Hydraulic, Servo-Electric, Hybrid, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
By Power Source
By Axis
By Product Type
By Country
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