Cut & bend equipment has numerous applications in the construction industry based on its different shapes, size, and quantities. Cut & bend equipment is used for cutting and bending purposes. The equipment helps in managing the inventory better which not only reduces the space requirement for keeping the rebars but also assists in saving costs associated with labor and wastage.
Demand for integrated equipment for reinforcing processes is expected to increase over the forecast period due to the growing popularity of cut & bend equipment for cutting, bending, shaping, meshing, and others. Integrated equipment are capable of performing multiple operations such as cutting and bending, stirrups, and straightening with the use of coil and rebar material.
The cut & bend equipment market has been classified based on product type, operation mode, end-user, and region. Based on product type, the market is segmented into mesh cutting & bending, cutting & shaping, straightening, and others. Cutting & shaping is sub segmented into stirrups and bar shaping. Others segment includes cage, shears, etc. Cutting and shaping machines have the highest market share. Under cut and shape machines, stirrup machines hold the largest share currently, and is projected to continue its dominance throughout the forecast years.
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This is due to the improvement in the machine by replacing conventional stirrup machines with high strength stirrup machines. Based on operation mode, automatic cut & bend equipment are a more convenient form of equipment due its advantages such as less manual intervention and faster processing (cutting, bending). Benefits include reduced manpower requirement, better speed, lesser scrap generated, and higher resultant production.
However, this equipment has higher cost as compared to semi-automatic ones. Also, automatic machines are bulkier due to in-built components needed for automatic functions. In terms of end-user, construction/engineering contractors holds a significant share as the processing on bars such as cutting and bending, etc. are majorly performed on construction sites as per the requirement. Various factors such as increasing demand for smart cities in emerging countries, growing construction activities across the world, and demand for steel products in the infrastructure and real estate sector boosts the growth of the cut & bend equipment market.
Based on region, the cut & bend equipment market can be classified into Middle East & Africa, Europe, South America, Asia Pacific, and North America. Growing infrastructure and construction activities worldwide is encouraging the construction material market. Industrial product manufacturers are focusing on advanced technology products due to rapid adoption of Industrial Internet of Things in the Asia Pacific region. Moreover, increasing awareness about better infrastructure and government initiatives has resulted in growth of the construction and steel industry and in turn the cut & bend equipment market.
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The cut & bend equipment market is influenced by the presence of many local and regional companies. Key operating players in the global cut & bend equipment market include Eurobend S.A, KRB Machinery, M.E.P. Macchine Elettroniche Piegatrici S.p.A, Progress Holding AG, Progress Investment Management, Schnell Spa, SweBend, TabukSteel, TJK Machinery (Tianjin) Co, Ltd, . and Toyo Kensetsu Kohki CO., LTD. These players are estimated to face stiff competition due to the presence of a large number of local and regional players. Key players are mainly focusing on research & development activities and product innovation in order to strengthen their presence in the market.