Metal Bellows Market is segmented by Product Type (Edge-Welded Bellows, Mechanically Formed Bellows, Electroformed Bellows, and Others), Material Type (Titanium Alloys, Stainless Steel Alloys, Nickel Alloys, and Others), End-Use Industry Type (Aerospace & Defense, Automotive, Oil & Gas, Semiconductor, Medical, and Others), and Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, and Rest of Europe], Asia-Pacific [China, Japan, India, and Rest of Asia-Pacific], and Rest of the World [The Middle East, Latin America, and Others]).
Metal Bellows Market is segmented by Product Type (Edge-Welded Bellows, Mechanically Formed Bellows, Electroformed Bellows, and Others), Material Type (Titanium Alloys, Stainless Steel Alloys, Nickel Alloys, and Others), End-Use Industry Type ...
“The Metal Bellows Market was estimated at US$ 683.3 million in 2022 and is expected to grow at a healthy CAGR of 5.8% during the forecast period to reach a value of US$ 983.3 million by 2028.”
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Market Dynamics
Introduction
Metal bellows are a type of flexible seal used in pipe joints. These bellows help mitigate movement caused by thermal fluctuation, equipment movement, and vibration or pressure pulsation by converting movement into linear or rotational motion in any piping system. They also reduce the chances of leakage of any fluid or pressure in pipe joints. The performance of the bellows depends on several factors including the type of raw material used and its properties, design factor, manufacturing process, etc. Metal bellows are used in diverse applications ranging from aerospace and defense to pharmaceutical, industrial automation, semiconductor manufacturing, solar power generation, water and wastewater treatment plants, and oil and gas industries.
COVID-19 Impact
In 2020, the sudden outburst of the pandemic led to a big dent in the growth trajectory of the metal bellows market. Metal bellows demand witnessed a colossal decline (-28%+ in 2020) amid the pandemic. However, the market started recovering from the disruption brought by the COVID-19 pandemic in 2021 and registered a healthy growth of 14.3%.
Revival of aerospace, defense, and automotive industries, the two largest markets for metal bellows from disruption brought by COVID-19, is likely to drive market growth in the years to come.
Segments Analysis
Segmentations
List of Sub-Segments
Dominant and Fastest-Growing Segments
Product Type
Edge-Welded Bellows, Mechanically Formed Bellows, and Others (Electroformed Bellows, etc.)
Edge-welded bellows are likely to remain the largest segment as well as the fastest-growing segment in the years to come.
Material Type
Titanium Alloys, Stainless Steel Alloys, Nickel Alloys, and Others
Titanium alloys are expected to maintain their dominance during the forecast period, whereas nickel alloys are expected to have the highest market growth.
End-Use Industry Type
Aerospace & Defense, Automotive, Oil & Gas, Semiconductors, Medical, and Other (Metal Processing, Wastewater Treatment, Pulp & Paper, etc.)
Semiconductor is to dominate the demand for metal bellows, whereas Aerospace & Defense is to witness the fastest growth during the forecast period.
Regional Analysis
North America, Europe, Asia-Pacific, and the Rest of the World
Asia-Pacific is expected to remain the largest and fastest-growing market over the next five years.
By Product Type
“Edge-welded bellows dominate the market during the forecast period.”
The metal bellows market is segmented into edge-welded bellows, mechanically formed bellows, electroformed bellows, and others. Edge-welded bellows are expected to remain the largest and fastest-growing product type in the market during the forecast period.
Edge-welded bellows offer a wide range of operating temperatures, superior stroke capabilities, and more precise spring rates, making them suitable for a variety of applications where performance is critical.
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By Material Type
“Titanium alloys dominate the market during the forecast period.”
The market is segmented into titanium alloys, stainless steel alloys, nickel alloys, and others. Titanium alloys are expected to remain the dominant material type in the market during the forecast period.
Growing composites content in the aerospace industry supported by excellent compatibility of titanium with composites, increasing penetration of lightweight materials, growing usage of titanium alloys in high-end cars to reduce weight and gain high strength, and desirable properties of titanium concerning corrosion resistance and thermal expansion are some of the factors behind the superior growth of titanium alloys in the market.
Regional Analysis
“Asia-Pacificis projected to remain the largest and fastest-growing market for metal bellowsduring the forecast period.”
Driven by the huge dominance of the region in industries, such as automotive and semiconductor, the growing presence of key players in the aerospace industry to meet the huge demand and rapid development in emerging economies such as China and India.
North America and Europe are also projected to generate a sizeable demand for metal bellows during the forecast period. The USA is the growth engine of the North American metal bellows market. The country is the hub for the aerospace industry with several aircraft OEMs, metal bellow suppliers, and raw material suppliers. Similarly, Germany, France, the UK, and Russia are the major markets in Europe.
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Key Players
The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc.
The following are the key players in the metal bellows market (arranged alphabetically).
Note: The above list does not necessarily include all the top players in the market.
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Report Features
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How ample is the sales opportunity?
In-depth Analysis of the Metal Bellows Market
How lucrative is the future?
The market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and forecast
Who are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirements?
10% free customization
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s metal bellows market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Customization Option
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to 3 players).
SWOT analysis of key players (up to 3 players).
Market Segmentation
Current market segmentation of any one of the applications by printer technology type.
Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.
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Recent Market News
In 2018, MW Industries, Inc. acquired Ameriflex, Inc., a leading manufacturer of superior-quality precision metal bellows, flexible metal hoses, flanges, and other products for vacuum applications.
In 2018, Satair A/S and Senior Metal Bellows (Senior Plc) extended the existing agreement to distribute all commercial aerospace aftermarket products, such as accumulators, bellows, thermal valves, and, compressors, in Europe and Asia-Pacific.
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Metal bellows are a type of flexible seal used in pipe joints. These bellows help in mitigating movement caused by thermal fluctuation, equipment movement, and vibration or pressure pulsation by converting movement into linear or rotational motion in any piping system. They also reduce the chances of leakage of any fluid or pressure in pipe joints. The performance of the bellows depends on several factors including the type of raw material used and its properties, design factor, manufacturing process, etc. Metal bellows are used in diverse applications ranging from aerospace and defense to pharmaceutical, industrial automation, semiconductor manufacturing, solar power generation, water and wastewater treatment plants, and oil and gas industries.
The metal bellows market is estimated to grow at a CAGR of 5.8% by 2028, driven by the high adoption of metal bellows in industries such as aerospace and defense, automotive, and semiconductor.
Senior plc, Eaton Corporation Plc, Meggitt PLC, MW Industries, Smiths Group plc, Freudenberg Group, U.S. Bellows, Inc., AESSEAL plc, Witzenmann GmbH, and Enpro Industries are the leading players in the metal bellows market.
Asia-Pacific is estimated to remain dominant in the metal bellows market in the foreseeable future. Major factors, such as increasing demand from several industries such as automotive, aerospace, semiconductor, oil, and gas, are expected to drive the metal bellows market in the Asia-Pacific region. In addition, rapid industrialization and growing manufacturing sectors will fuel market growth in the forthcoming years.
Asia-Pacific is estimated to remain the fastest-growing market for metal bellows in the foreseeable future. The key economies driving the region’s demand for metal bellows are China, Taiwan, Korea, and India.
Edge-welded bellows are likely to be the dominant and fastest-growing segment during the forecast period. Edge-welded bellows are preferred for applications such as aircraft engines, semiconductor manufacturing equipment, oil and gas instruments, and medical devices.
