Metal Spiral Bellows Market - Forecast(2023 - 2028)

Metal Spiral Bellows Market Overview

The metal spiral bellows market size is estimated to reach US$3,775.4 million by 2027 after growing at a CAGR of around 4.2% from 2022 to 2027. The spiral metal bellows are tube-shaped shells with spiral shape corrugation arrangement. It is flexible elements that are used in the various industrial applications. The metals bellows are used for applications such as wafer handlers, corrugated compensators, mechanical seals, and others. The global metal spiral bellows industry is driven by its growing demand for various end-use industries such as oil & gas, automotive, aerospace & defense, semiconductor, and others due to its superior flexibility, high strength, and corrosion resistance. Furthermore, rising applications of metal bellows in aerospace sector such as toggle switches in actuators, engine seals, and others will lead to growth of the metal spiral bellows market during the forecast period.

COVID-19 Impact

The COVID-19 pandemic has negatively impacted and hindered the growth of the metal spiral bellows market. The outbreak led to supply interruptions, workforce shortages, declining demand, and other logistics disruptions in the market. The spiral metal bellows have major applications in aerospace industry. The covid-19 outbreak created major impacts on the aerospace & defense sector. The airlines were majorly hit by the pandemic as passenger traffic slumped due to travel restrictions implemented by government across the globe. Moreover, the productions for aircraft and other components also saw a fall in aerospace due to lockdown restrictions and decline in air travel. According to Aerospace Industry Association (AIA), the productions for the wide and narrow-bodied aircraft showed a decline of around 40% in the year 2020. Thus, with declining demand and slowdown in growth for aircraft manufacturing, the applications of spiral metal bellows such as toggle switches, mechanical seals, and others also saw a fall, thereby leading to slowdown in growth and demand for the global metal spiral bellows industry during the outbreak.

Report Coverage

The “Metal Spiral Bellows Market Report– Forecast (2022-2027)” by IndustryARC covers an in-depth analysis of the following segments of the global metal spiral bellows industry.

Key Takeaways

• The metal spiral bellows market size will increase due to high demand of metal bellows in various end-use industries such as automotive, aerospace, wafer handlers in semiconductors, oil & gas, and others due to its superior properties such as corrosion durability, flexibility, strength, and others.
• The Asia Pacific region dominates the global metal spiral bellows industry due to growing aerospace industry, high automotive demand, and other industrial base in this region, thereby leading to major growth in metal spiral bellows applications in this region.
• The demand for titanium material type is high for major applications in aerospace industry owing to its high temperature applications, thereby boosting growth prospects for the global metal spiral market.

Figure: APAC Metal Spiral Bellows Market Revenue, 2021-2027 (US$ Million)

Metal Spiral Bellows Market Segment Analysis – By Type

By type, the edge-welded bellows segment held the largest metal spiral bellows market share in 2021 and is expected to grow by CAGR of over 5.4% during the forecast period. The edge-welded metal bellow offers range of motions along with leak detector capability. The growth of edge-welded bellows is influenced by its rising demand for high temperature applications, majorly in aerospace such as aircraft engines, actuators, and others. Furthermore, the edge-welded metal bellows provides assistance in the management of aircraft devices and fuel regulations. According to the Aerospace Industries Association, the combined growth for the aerospace and defense industry sales revenue accounted to around USD 900 billion in the year 2019. Moreover, with increase in adoption for the edge-welded metal bellows in aerospace sector, the metal spiral bellows market will experience high growth in the coming years.

Metal Spiral Bellows Market Segment Analysis – By Material

By material, the titanium alloy segment held the largest metal spiral bellows market share in 2021 and is expected to grow by CAGR of around 4.9% during the forecast period. The demand for the titanium material type in global metal spiral bellows industry is high due to its high demand in aerospace applications. Furthermore, the growth of composites in aerospace sector is propelling the demand for titanium based metal spiral bellows. The titanium material type offers excellent properties such as high strength, thermal expansion, and corrosion resistance, thereby leading to high applications in various end-use industries, majorly in the aerospace. Moreover, the demand for metal bellows will rise as various aircraft productions and other programs in the coming years. For instance, the Airbus started the construction of A220 Manufacturing Facility in Alabama to boost the production and testing activities for aerospace sector. Furthermore, with high application of titanium material bellows, majorly in the aerospace industry, the demand for spiral metal bellows will also rise, thereby leading to major growth opportunities for the global metal spiral bellows industry during the forecast period.

Metal Spiral Bellows Market Segment Analysis – By End-Use Industry

By end-use industry, the aerospace segment held the largest share with over 24.0% in the metal spiral bellows market in 2021. The high demand of metal spiral bellows for aerospace industry is influenced by its growing applications in aircraft engine seals, actuators, corrugated compensators, toggle switches, and others. This is due to its excellent properties such as high strength, corrosion resistance, and flexibility. According to the Federal Aviation Administration, around 45,000 flights and more than 2.8 million passengers were in service in the financial year 2019. The growth in aviation sector has boosted the demand for metal spiral bellows for applications in aircraft engines and others. Thus, with growing demand and applications, the market of metal spiral bellows will experience major growth opportunities during the forecast period.

Metal Spiral Bellows Market Segment Analysis – By Geography

By geography, the Asia Pacific segment is the fastest-growing region in the metal spiral bellows market and is expected to grow with a CAGR of over 5.2% during the forecast period. The growth for the metal spiral bellows in this region is influenced by the growing industrial base for aerospace, automotive, power generation, semiconductor, and other sectors. The growth of automotive projects and fast recovery of automotive assembly plants in China is propelling the demand for metal spiral bellows. The applications for the metal spiral bellows in automotive sector such as car engines, actuators, and others is growing due to its excellent features such as flexibility, strength and durability. According to the China Association of automotive manufacturers (CAAM), the production of automotive vehicles in China accounted to around 26 million units, showing an increase by 3.4% in 2021 compared to the previous year. Moreover, the growing aerospace production and growth in APAC region offers high growth opportunities for the global metal spiral market, thereby majorly contributing to the rise in the global metal spiral market size during the forecast period.

Metal Spiral Bellows Market Drivers

Growing application demand in the aerospace and defense sector

There is a rise in the demand for the global metal spiral bellows in the aerospace and defense industry due to its applications in the aircraft engines, toggle switches, corrugated compensators, and others. The corrosion resistance, flexibility, and strength of the welded metal spiral bellows are influencing the growth in demand for aerospace sector. Moreover, the growing aircraft productions and airline traffic across the globe is driving the market of metal spiral bellows. According to the Aerospace Industries Association (AIA), the sales in the aerospace & defense sector accounted for USD 282 billion in the total U.S GDP for 2020-21. Thus, with growing aerospace industry, the applications of metal spiral bellows in aircrafts, reservoirs, and others will grow, thereby offering major demand for the metal spiral bellows market.

Increasing demand in oil & gas sector

The demand of metal spiral bellows is high in the oil & gas sector owing to its superior flexibility, high spring rate, and others. The growth in oil and gas is driving the application demand for the metal spiral bellows in feed-through, actuators, gas lines, sensors, and others. The welded metal bellows works well in the harsh conditions and is ideal for usage as temperature and pressure compensators. According to the India Brand Equity Foundation (IBEF), the oil and gas sector in India is estimated to attract around USD 25 billion for exploration and production activities by 2022. Thus, with high growth in oil and gas industry, the demand for metal spiral bellows for wide range of applications in gas lines, activators, sensors, pipelines, and other will rise, thereby boosting growth opportunities for the global metal spiral market in the coming years.

Metal Spiral Bellows Market Challenges

High costs associated with materials and formation process

The process of formation in metal spiral bellows is highly sensitive and is associated with high costs to get desirable dimensions and thickness. Moreover, the versatility of metal bellows makes its designing difficult. The costs incurred on the advanced formation get high, which restricts the growth for the global metal spiral market in various end-use industries, including aerospace. Furthermore, the rising prices of materials used in metal spiral bellows are creating major challenge. The rise in prices of titanium is hindering the productions, thereby affecting the global market. The prices for titanium sponge in China showed an increase from USD 6.9 per kg in July 2020 to USD 10.5 per kg in June 2021. Thus, with an increase in costs for materials used in metal spiral bellows and formation process, the global metal spiral market faces major challenges and growth restraints.

Global Metal Spiral Bellows Industry Outlook

The global metal spiral bellows top 10 companies include:

1. EnPro Industries
2. Senior Plc.
3. MW Industries Inc
4. Freudenberg Group)
5. Eaton Corporation Inc
6. U.S. Bellows, Inc.
7. Meggitt Plc
8. ASSEAL plc
9. Smith Group Plc (John Crane)
10. Witzenmann GmbH

Recent Developments

• In October 2020, MW Industries, a leading provider of metal bellows announced the association with Life Sciences division of NN, Inc., which will boost the company’s portfolio and distinct manufacturing abilities.
• In July 2019, the Parker-Hannifin Corporation announced the acquisition of the Exotic Metals Forming Company LLC, a leading firm offering high quality metal bellows, aircraft equipments, and flex joints. This will boost the performance and customer base for the Parker-Hannifin company.
• In July 2019, the MW Industries announced the development for the noel energy solutions in order to cater the demand from oil & gas, petrochemicals, and others. The energy solution includes energized seals, electrodeposited bellows, and others.

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