Metal Bellows Market size was over USD 2.39 billion in 2024 and is expected to reach USD 5.16 billion by the end of 2037, growing at around 6.1% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of metal bellows is assessed at USD 2.51 billion.
The market is expected to grow due to the rapid industrialization that is spreading throughout emerging economies throughout the forecast period. Less than 20% of the world's population lives in the 63 developed economies that make up the world today.
In addition to these, opportunities for the metal bellows sector are anticipated to arise from the development of highly efficient metal bellows that can tolerate high temperatures and pressure during the projected period. Furthermore, during the course of the forecast period, rising R&D expenditures by major players in the creation of novel materials will propel further growth in the worldwide metal bellows market.
Growth Drivers
Challenges
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
6.1% |
Base Year Market Size (2024) |
USD 2.39 billion |
Forecast Year Market Size (2037) |
USD 5.16 billion |
Regional Scope |
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Material (Titanium Alloy, Stainless Steel Alloy, Nickel Alloy)
Based on material, stainless-steel alloys segment is anticipated to hold 58% share of the global metal bellows market by 2037. Global demand is rising as a result of the widespread availability of welded stainless-steel metal bellows and their resistance to low temperatures. Bellows made of stainless steel are ideal for use in power transmission systems, industrial controllers, and electrical interrupters because of their natural flexibility and resistance to pressure. Global production of stainless steel was estimated to be 55.3 million metric tons in 2022.
End Use Industry (Aerospace & Defense, Automotive, Power Generation, Water Treatment, Oil & Gas Refining, Heavy Manufacturing, Light Manufacturing)
Based on end use industry, aerospace & défense segment is expected to hold 60% share of the global metal bellows market by 2037. In aerospace applications, metal bellows are essential, especially for fuel systems, environmental control systems, and aircraft engines. Passengers' increasing desire for air travel has resulted in a substantial increase of the aerospace sector. The requirement for new aircraft has surged due to the rising demand for air travel, which in turn has raised demand for high-performance and dependable parts like metal bellows. According to a PwC research, the aerospace and defense sector reported revenues of USD 741 billion in 2022 a mere 3% increase from 2021 and USD 67 billion in operating profit an 8% increase.
Our in-depth analysis of the global metal bellows market includes the following segments:
Product Type |
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Material |
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End Use Industry |
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Application |
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APAC Market Forecast
Metal bellows market in Asia Pacific region is expected to hold largest revenue share of about 33% during the forecast period. Due to increased demand in a variety of end-use industries, such as aerospace, military and defense, petrochemical, automotive, and power and energy, the Asia-Pacific region now has a sizable market share. In India, the yearly production of automobiles India sold 3.89 million passenger cars overall in FY23, whereas 47,61,487 automobiles were exported during the same time period. The automobile industry employs about 19 million people directly and indirectly and contributes roughly 7.1% of the country's GDP, up from 2.77% in 1992–1993 to the present. The welded metal bellows market in the area is growing as a result of the revival of auto assembly factories in China and the rise of several industrial and automotive sectors in other nations.
European Market Statistics
Metal bellows market in Europe region is anticipated to hold second largest revenue share of about 28% during the forecast period. With crucial parts widely used in numerous applications across the European aerospace and military industries, including as aircraft engines, avionics, and fuel systems, metal bellows hold the second-largest market share in Europe. Europe's total military spending increased significantly, hitting USD 418 billion in 2021 a 3.0% increase from 2020 and a significant 19% increase from 2012.
Author Credits: Richa Gupta
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