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(Health-NewsWire.Net, June 29, 2020 ) Market Overview
• The global Rebar processing equipment market expected to reach US$ 1,098.32 million by 2026, at a CAGR of over 6% during the forecast period (2020-2027).
• The rise in the demand for Rebar Processing Equipment owing to the rising construction all around the world is anticipated to drive the market in the forecast period.
• Rebar processing machines are mainly used to bend, shear, decorate and reinforce rebar (also known as rebar). Rebar processing machines. This machine is suitable for contractor or construction company to perform various operations on rebar as required. Growing construction and infrastructure activities are key factors driving the market.
• The report covers all the major trends and drivers playing a vital role in the growth of the global Rebar Processing Equipment market. The global Rebar Processing Equipment market has been segmented based on Type, End-user and Region.
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Market Dynamics
• The global Rebar Processing Equipment Market is primarily driven by heavy investments in the infrastructure in developing nations like China and India. China Commercial real estate has become popular with foreign investors as funding constraints on domestic developers reduce valuations in the sector. According to National Bureau of statistics China in 2018, the commercial building space sold in the region is increased from 157 million sq. meters in 2016 to 169.407 million sq. meters in 2017 and the residential buildings increased form 137.58 million sq. meters in 2016 to 144.788 million square meters in 2017, and these expected consistently during the forecast period.
• The growth in the industry is mainly due to rapid industrialization and highly flourishing residential and commercial building sectors across the world.
• Rebar is an essential building component for which demand for rebar processing equipment is expected to foster. In addition, technological progress increases productivity by reducing the rebar processing time cycle. Automation is expected to drive the market in the rebar processing industry over the next few years.
Market Segmentation Analysis
• By Type, the global Rebar Processing Equipment Market is segmented into bar bending machine, bar shearing machine, bar de-coiling and straightening, and others (radius bending machine and stirrup bending machine). In 2018, bar bending machine accounted for the majority share in the market as it is one of the most common machines used in the steel and construction industry.
• By End-user, the global Rebar Processing Equipment market is further divided into steel producers, steel product manufacturers, and construction/engineering contractors. In 2018, construction segment accounted for majority share in the market and is expected to maintain its dominance over the forecast period. With the development of smart cities in the countries with a growing economy, the increased demand for steel products in the real estate and infrastructure sector is a major driver of the market.
Market Geographical Analysis
• By geography, the global Rebar Processing Equipment Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
• APAC holds the largest market share for Rebar Processing Equipment Market due to economy rise and rising activity in infrastructure and industrial development in developing nations like China and India has high demands for Rebar Processing Equipment. The rise in urbanization in the region is another major region for the market to grow. Urbanization in India began to accelerate due to the country's adoption of a mixed economy, which gave rise to the development of the private sector. Urbanization is taking place at a faster rate in India. The population residing in urban areas in India, according to 1901 census, was 11.4%. This count increased to 28.53% according to 2001 census and crossing 30% as per 2011 census, standing at 31.16%. In 2017, the numbers increased to 34%, according to The World Bank.
• However, North America is after APAC in terms of the market share of Rebar Processing Equipment Market due to large investment for infrastructure development and also due to increase in the urban population, increasing the demand in residential construction.
• In the Middle East and Africa (MEA) region, the middle east countries are expected to increase the market for the Rebar Processing Equipment market as the activities for the construction is planned by the government. For instance, the government of Qatar is planning to spend over US$ 200 billion as part of a major infrastructure investment scheme between 2016 to 2022 as they are hosting the FIFA world cup 2022. The World Cup is expected to cost about US$ 30 billion, with stadiums accounting for US$10 billion. Africa’s demand for construction will also subsequently increase due to the rise in the economy which attracts more investments in infrastructure for the forecasted period 2020-2027.
Market Competitive Analysis
• Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. Global Rebar Processing Equipment Market is a fragmented market with the presence of various global and regional players in the market. The major players include Jaypee Group, Schnelly Spa, Ltd., EV GmbH, KRB Machinery, Henan Kensetsu Kohki Co., EuroBend, Henan SINCH Machinery Co., Ltd, TJK Machinery (Tianjin) Co., Everest Equipment Private Limited, and among others.
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