Worldwide sales of bandsaw machines are 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 unwavering growth through 2029, primarily driven by a growing focus on effective cutting technologies that promise high functionality for varying applications. However, limitations in terms of producing perfectly-shaped curved edges continue 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 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 the 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 the 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 a major chunk of the overall market share i.e. 69-71%, and will remain focused on extending their sphere of influence via affordable products with ‘best-in-class features.
Bandsaw Machines Market – Key Research Findings
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. The growth of this particular segment can be primarily attributed to 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. The East Asia market is expected to remain as the prominent regional market for bandsaw machines manufacturers due to the presence of a 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 other segment, which includes wood cutting and biomass generation. Growing inclination towards biomass for power generation is expected to create robust opportunities in the segment. 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. Request a Complete TOC of this Report with figures Click Here:
Online Channel: The New Pacemaker for Sustained Revenue Growth
With ‘online’ emerging as the new synonym of ‘convenience’ and ‘flexible purchasing’, manufacturers are investing in online sales channels to gain maximum ROI. The growth of online sales is the consequence of dramatic shifts in purchase habits of end-users, who seek high-quality bandsaw machines available at the best of prices. The growing number of well-informed customers are calling for reliable information on product integrity, which also works in favor of online channels that include detailed product descriptions for the consumers’ reference.
Key Factors Shaping the Bandsaw Machines Market
Growing Automotive Industries Driving the Demand for Bandsaw Machines
Bandsaw machines are widely used in industries such as automotive, food, biomass production, construction, and several other industries for different metal and wood cutting applications. The growing industrialization in emerging countries and increasing population demands have been driving the automobile, construction, food, and power generation industries and are expected to grow significantly in the upcoming years. An Inclination towards Biomass Usage for Energy Generation Creating Demand for Bandsaw Machines
The growth in energy production through the use of biomass would increase the demand for biomass, subsequently boosting the global bandsaw machines market. The use of biomass pellets has significantly increased in the recent past for harvesting biomass energy. For instance, in 2017, biodiesel accounted for 24.1% of the energy production in the market of Canada. This noteworthy share of biomass in energy production will help the growth of the bandsaw machines market. Bandsaw Machines Market Structure Analysis
The global bandsaw machines market is extremely fragmented. 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. 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. For More Information or Query or Customization Before Buying, Visit:
Bandsaw Machines Market Key Segment
By Orientation
Horizontal VerticalBy Operation
Manual Semi-Automatic Fully Automatic CNCBy Cutting Type
Mitre Circular Ring StraightBy End Use
Automotive & Transportation Construction Mining Aerospace Shipbuilding Food OthersBy Region
North America Latin America Europe South Asia East Asia the Middle East & AfricaThis study outlines key opportunities in the bandsaw machines market and unveils that the market would grow at a value CAGR of ~ 4% during the forecast period.
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