A new market report published by Transparency Market Research anticipates the global rebar processing equipment market reach US$ 1.07 Bn in terms of revenue by 2026, expanding at a CAGR of 6.9% from 2018 to 2026. It was valued at US$ 0.55 Bn in 2017. The market in Asia Pacific is likely to expand at a rapid growth rate during the forecast period, owing to growing infrastructure and construction activities in emerging economies such as India and China.
According to the report, the major factors driving the market are growing construction and infrastructure activities. China, India, and the U.S. are the major countries which have a huge demand for rebar processing equipment owing to a rise in infrastructure activities by both the private sector and governments in these regions. Moreover, usage of advanced technologies is augmenting the productivity of equipment. However, the entry of local and regional players and instability in the construction industry is hampering the business growth of established players.
On the basis of type, rebar processing equipment is categorized into bar bending machine, bar shearing machine, bar de-coiling and straitening, and others. As per the report, bar bending machine has dominated the market because of its usage across the construction industry and steel industry, including steel product manufacturers and steel producers. Based on end-users, the market is segregated into steel producers, steel product manufacturers, and construction/engineering contractors. Among these, Construction segment is expected to remain dominant in the coming years.
Development of smart cities in emerging economies, and growth in demand for steel products in infrastructure and real estate sector are major drivers of the segment.
From a geographical perspective, Asia Pacific and North America commanded major share of rebar processing equipment in 2017. The U.S., China, and India hold half of the global market share. The rebar processing equipment market in emerging economies is estimated to expand at a significant growth rate during the forecast period. Demand for rebar processing in Middle East & Africa is expected to increase as it is widely used for bar cutting and bending due to growth in the construction sector. Demand for rebar processing equipment is expected to rise in the near future with the growth in construction industry worldwide.
Major vendors operating in the global rebar processing equipment market are included in this report to give a better competitive analysis of the market and these include Jaypee Group, Schnell Spa, Ltd., Gensco Equipment, EVG Entwicklungs- und Verwertungs-Gesellschaft m.b.H., KRB Machinery, Eurobend, PEDAX, Ltd, Henan Sinch Machinery Co., Ltd, Toyo Kensetsu Kohki Co., TJK Machinery (Tianjin) Co, and Everest Equipment Private Limited. A large number of local and regional players are expected to increase the competition in the global market. Key players are mainly focusing on research & development activities and product innovation in order to strengthen their presence in the market.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
