The global Rebar Processing Equipment market is expected to grow at a CAGR of over 6% during the forecast period (2022 -2029).
The highest demand for rebar processing equipment was observed in the Asia-Pacific due to the ongoing industrialization in developing nations.
Europe and North America are the most impacted regions in terms of rebar market, with scrap prices hike of US$ 45-65 per ton in 2020, forcing the top companies to slow down production rates like Riva Group halted steelmaking operations at its Hennigsdorf site in Germany.
The rebar prices are forecasted to observe a further elevation in 2021 due to the high demand from the steel manufacturers and constructors, which will substantially increase the prices of end products from steel manufacturers and constructors for creating hype in the prices.
The automatic rebar processing equipment will possess the vast demand in the future to incorporate the losses with higher production rates of machines and cost efficiency, needing the modification of processing machines with modern operating techniques and shifting towards automation with an introduction to cloud and computer numerical control applications.
The market will observe significant growth in developing nations, with leading market players introducing rental and second-hand rebar processing machines options for small budget projects. For instance, Schnell Spa, an Italy-based company offering various categories of second-hand rebar processing equipment, including second-assembling machine, stirrup bender, cutting machine and others with certification and 100% guaranteed.
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Rebar is the most common material for the construction industry, which will result in the significant growth of the rebar processing equipment industry.
Rebar processing equipment is primarily used in construction to process rebar with different machines, including straightening machines, shearing machines, bending machines, etc.
The increasing number of accidents and fatalities cases resulting from manual working in rebar and other construction processing operations cater to the rebar processing equipment market demand.
- By Type
- By End-User
- By Region
By End-User – Bar Bending Machine
Bar Bending Machine, also known as bar bender machine, has gained immense popularity in building and construction industry in the past few years.
In, the construction industry, a bar bending machine is used to bend the steel round bar and steel rebar to design the required structure for building the base of any construction structure. The key players are offering both automatic and semi-automatic bar bending machines using high-quality materials that are durable, fast and cost-effective, used for bending reinforcement bars and various forms of round bars.
COVID-19 – ANALYSIS
The global rebar equipment market was active and under extreme prosperity before the pandemic occurred in the world.
Additionally, many steel manufacturers have opened completed rebar processing facilities which boosted the demand for rebar processing equipment in the Pre-COVID period. For instance, Agha Steel Industries in Pakistan received a new rebar mill from Primetals Technologies, located in London, UK. The rolling mill manufactures rebar for the domestic market and has 300,000 metric tons annually. Further, on May 29, 2019, Daehan Steel Co., Ltd. of South Korea gave the SMS group an order to complete the rebar rolling mill at its Pyeongtaek plant.
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GEOGRAphical Analysis – North America
- South America’s construction industry has grown slowly but steadily in recent years. However, the industry is expected to expand rapidly during the forecast period. Despite region’s financial and political uncertainties, construction industry is expected to grow at a rate of 2.6% per year between 2020 and 2023. As a result, the region’s growing number of construction projects is more likely to accelerate the market for rebar processing equipment for various applications.
- The government’s increased investment in megaprojects and the arrival of various global construction projects in the region are expected to improve the construction industry, triggering the market for rebar processing equipment in the forecast period
- The global rebar processing equipment market is highly fragmented, with the presence of global and regional players.
- The market is highly competitive with the expansion of rebar processing facilities and the introduction of advanced processing equipment.
- In March 2019, Akron Rebar Company made a multi-million-dollar investment in
cutting-edge equipment with two complete and fully automated cut-and-bend stations to process stock rebar to increase speed and capacity, positioning the organization for robust and long-term growth.
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