PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1092207
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1092207
The global Rebar Processing Equipment market is estimated to be worth $580.9 million in 2021. Rebar Processing Equipment market is expected to expand at an 6.4% CAGR during the forecast period.
Rebar processing equipment is used for de-coiling, bending, shearing, and straightening reinforced bars or rebar. Contractors or construction organizations can use this machine to perform a variety of rebar procedures based on their needs. The capacity to anchor rebar to concrete or another sort of hard surface that requires pull strength is provided by rebar processing. Cutting rebar to bespoke lengths and bending rebar into custom forms are also possible with rebar processing capabilities.
The Rebar Processing Equipment market is expected to increase at an exponential rate during the forecast period. The expanding use of modern equipment to boost production and shorten the rebar processing cycle. Furthermore, the rebar processing equipment market is expected to be driven by an increase, especially for high precision, zero waste, and automation in rebar processing. Furthermore, expanding commercial and residential development in both developing and developed countries such as the United States, the United Kingdom, China, India, Japan, and others are likely to accelerate the expansion of the rebar processing equipment market during the forecast period. Furthermore, the use of modern technologies is enhancing equipment productivity. The industry is being driven by the expansion in demand for steel products in the infrastructure and real estate sectors, as well as the development of smart cities in emerging nations. However, the advent of local and regional businesses, as well as the construction industry's uncertainty, are impeding established players' commercial expansion.
Rebar Processing Equipment Market is segmented By type, operations, end-user, and geography. Based on type, the bar bending machine dominates the global rebar processing market. This is mainly driven by the growing use of this equipment across the steel and construction industry. Electric rebar cutters, for example, are cutting machines capable of cutting high-tensile strength bars with widths up to 16mm. Heavy-duty rebar cutters are capable to cut bars with a diameter of 42mm. The Rebar Cutting Shear is designed to handle huge quantities of rebar on a regular basis. It can also handle light scrap materials like pipe, angle iron, and channel iron. Steel is an important material in the construction of buildings and infrastructure. According to estimates, global steel consumption in 2021 is expected to equal more than 1.7 billion tonnes. Increasing building and construction activities (particularly in China, Japan, and India), a rebounding construction sector in Europe, and a boom in non-residential construction activity in North America are all factors driving the growth of this segment.
The global rebar processing equipment market is fairly competitive with the presence of a large number of international and national players. Some of the major players in the market are Schnell SpA, Ltd., Gensco Equipment Inc., and KRB Machinery Company. Industry players are relying on product approvals, product launches, mergers, and acquisitions to gain a significant share of the global Rebar Processing Equipment market. For instance, in 2019, Everest Engineering Equipment entered into a dealership agreement with TYF Machinery China Everest Group will help in the installation and after-sales services of the rebar processing machines in India.
The scope of this report covers the market by its major segments, which include as follows: