Global Bandsaw Machines Market Expected Increase at CAGR of ~4% During Forecast Period 2019-2029
Worldwide sales of bandsaw machines is estimated to total ~ 200 thousand units in 2019, with an estimated increase of ~ 3% year over year, according to the recent research study published by Future Market Insights (FMI). The bandsaw machines market is set for an unwavering growth through 2029, primarily driven by growing focus on effective cutting technologies that promise high functionality for varying applications. However, limitations in terms of producing perfectly-shaped curved edges continues to threaten the relevance, thereby adding new uncertainties to the near-term outlook of bandsaw machines.
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Industrial technologies are currently experiencing a seismic
shift from the conventional technologies to bandsaw machines. The primary
reason behind this trend reversal is an ever-increasing demand for flexibility
during cutting applications that comes from the end users, which will further
help them serve requirements of their customers in a much more efficient way.
The FMI analyst opines that there are signs of a majority of
the industries moving towards ‘energy efficiency’, which marks positive
beginnings for the adoption of bandsaw machines market during the assessment
period. The global bandsaw machines market reflects a fair degree of
fragmentation, with a handful of market players accounting for approximately
29-31% revenue share. However, the mid-level and emerging players will command
for a major chunk of overall market share i.e. 69-71%, and will remain focused
toward extending their sphere of influence via affordable products with
‘best-in-class’ features.
To align with end user proclivity for high-quality bandsaw
machines that bring down operational and maintenance costs, manufacturers are
placing emphasis on use of high-cost components and working toward reduction of
blade changeover downtimes. According to the FMI analyst, the market players
are also shifting their strategic focus toward the development of
differentiated and customized bandsaw machines that are suited to varying
end-user needs and requirements.
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- The
global bandsaw machines market size in 2018 was valued at ~US$ 1.8 Bn.
- The
bandsaw machines market is expected to increase at a CAGR of ~4% over the
forecast period of 2019-2029.
- The
horizontal segment is anticipated to remain as the most preferred
orientation type segment in the bandsaw machines market.
o The
growth of this particular segment can be primarily attributed by the increasing
production of automotive and wood pallets globally.
- Collectively,
North America, East Asia, and Europe are likely to hold 70% of the revenue
shares in the bandsaw machines industry by the end of 2029.
o The
East Asia market is expected to remain as the prominent regional market for
bandsaw machines manufacturers due to the presence of large number of end use
manufacturing industries in the region.
- The
automotive and transportation segment is expected to lead the market share
in terms of revenue generation followed by the others segment, which
includes wood cutting and biomass generation. Growing inclination towards
biomass for power generation is expected to create robust opportunities in
the segment.
o Key
regions such as North America and Europe accounted for a substantial share in
the round wood production. These regions are expected to create healthy demand
for bandsaw machines.
According to the FMI analysis, fully-automatic machines
accounted for more than 1/3rd of the bandsaw machines sales in
2018, with a tough competition by semi-automatic bandsaw machines. Though
end-users will remain biased toward bandsaw machines with horizontal
orientation, the ones with vertical orientation will witness exponential demand
through 2029. While the former offers benefits of easy mobility and
transportation, the latter offers better visibility on account of the enhanced
accessibility. Automotive and transportation will continue to account for a
significant pie of the overall market revenues in 2018, standing firmly as the
largest end-user of bandsaw machines.
The dynamic growth of economies in East Asia is imparting
newer dimensions for the regional industrial paradigms, thereby presenting
promising opportunities for the manufacturers of industrial equipment.
Following a sustained period of growth, East Asian countries such as China and
Japan are achieving technological parity with the western countries, which
makes them no less of gold mines for bandsaw machines market players to reap
profits from.
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Bandsaw Machines Market Structure Analysis
· The
global bandsaw machines market is an extremely fragmented market. Tier 1
players hold ~29-31% share in the market.
· Most
of the key players sustain strategic focus on the development of new products
and expansion of business in new regions and setup of the distribution and
sales network.
· Noteworthy
investments in developing new and durable bandsaw machines by companies are
expected to exploit the bandsaw machines market growth prospects.
o Key
players in the bandsaw machines market such as Amada Holdings Co., Ltd,
Starrett, KASTO Maschinenbau GmbH & Co. KG, and Cosen Saws International,
Inc., are developing new products and focusing on product innovations to
sustain their positions in the market.
· International
and regional market players have an extensive marketing network of branch,
regional, and global offices across tier 1 and tier 2 cities, providing support
to its customers.
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