Overview and Scope
The bead winding machine market consists of sales of wire feeder, winding drum, and tension control system. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Sizing and Forecast
The bead winding machine market size has grown steadily in recent years. It will grow from $0.9 billion in 2023 to $0.95 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to increasing demand for efficient tire manufacturing, rise in automotive production, rise in disposable income, growing eco friendly manufacturing demand, increasing focus on sustainability, rising investments in research and development.
The bead winding machine market size is expected to see strong growth in the next few years. It will grow to $1.15 billion in 2028 at a compound annual growth rate (CAGR) of 5%. The growth in the forecast period can be attributed to increasing demand for high performance tires, increasing vehicle production, growing demand for automotive services, growing use of wind turbines, growing demand to enhance product lifecycle management. Major trends in the forecast period include adoption of smart factory technologies, adoption of new manufacturing techniques, rise in green tire manufacturing, adoption of advanced sensors, adoption of internet of things (IoT).
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Segmentation & Regional Insights
The bead winding machine market covered in this report is segmented –
1) By Type: Manual, Electric, Other Types
2) By Configuration: Single Bead, Multi-Spinder Bead, Automatic Bead, Computer Numerical Control (CNC) Bead, High-Speed Bead
3) By Application: Passenger Cars, Commercial Vehicles, Off-Road Vehicles, Industrial Machinery, Agriculture Machinery
North America was the largest region in the bead winding machine market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the bead winding machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing use of wind turbines is expected to propel the growth of the bead winding machine market going forward. Wind turbines convert wind energy into electricity, featuring rotor blades, a hub, gearbox, generator, nacelle, and tower. The growing demand for clean energy propels the adoption of renewable sources such as wind power. Climate change concerns and international agreements to reduce greenhouse gas emissions are pushing governments to invest in wind energy. Bead winding machines enhance the production of wind turbine blades by precisely and efficiently winding fibers and materials, ensuring consistent quality, structural integrity, and durability. For instance, according to the U.S. Department of Energy (DOE), a U.S.-based U.S. wind power sector, in 2021, wind turbines constituted 22% of the newly installed electricity capacity in the U.S., representing a $12 billion investment. Additionally, the average capacity of newly installed wind turbines saw a 7% increase compared to 2020. Therefore, the growing use of wind turbines will drive the bead winding machine market.
Key Industry Players
Major companies operating in the bead winding machine market are Michelin, LARSEN & TOUBRO LIMITED, Kobe Steel Ltd., KraussMaffei, Marangoni S.p.A., VMI Group, Tianjin Saixiang Technology Co. Ltd., ROSENDAHL NEXTROM, Bartell Machinery, Sino Textile Machinery, Sai Engineering Works, Yogi Enterprises, Fuji Machine America Corporation, Windak Group, Bharaj Machineries, VIPO a. s, Leesona Corporation, Herbert Maschinenbau GmbH & Co. KG, Gorman Machine Corporation, K&G Machinery Works Ltd., Jovil Universal LLC
The bead winding machine market report table of contents includes:
1. Executive Summary
2. Bead Winding Machine Market Characteristics
3. Bead Winding Machine Market Trends And Strategies
4. Bead Winding Machine Market – Macro Economic Scenario
5. Global Bead Winding Machine Market Size and Growth
..
32. Global Bead Winding Machine Market Competitive Benchmarking
33. Global Bead Winding Machine Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Bead Winding Machine Market
35.Bead Winding Machine Market Future Outlook and Potential Analysis
36.Appendix
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