The global bandsaw machines market, projected at US$ 2.1 billion in 2022, sets its sights on a promising future. Sustained demand for bandsaw machines is forecasted throughout the evaluation period, with underlying factors including escalated mining operations. This momentum propels the market’s value to an impressive US$ 3.3 billion in 2033, marking a notable Compound Annual Growth Rate (CAGR) of 4.2% from 2023 to 2033. Notably, the market is poised to secure a valuation of US$ 2.2 billion in 2023.
Future Market Insights (FMI) underscores that the culmination of 2022 witnessed global bandsaw machine sales reaching a cumulative US$ 2.1 billion. The year 2021, in particular, witnessed a surge in bandsaw machine sales, surpassing 200,000 units globally. This surge finds its impetus in the growing application of horizontal bandsaw machines across diverse industries.
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Navigating Trends: Influences Steering the Global Bandsaw Machines Market
Industry trends are signaling a notable shift towards “energy efficiency” across a majority of sectors. This transition marks a promising trajectory for the adoption of bandsaw machines during the assessment period, as observed by FMI analysts.
The global bandsaw machines market displays a landscape of discernible fragmentation. While a select few market players account for approximately 29-31% of the revenue share, the mid-level and emerging contenders are anticipated to dominate a significant portion of the overall market share, ranging from 69-71%. These players remain steadfast in their commitment to expanding influence through cost-effective products armed with “best-in-class” attributes.
Acknowledging the end user’s penchant for top-tier bandsaw machines that drive down operational and maintenance expenses, manufacturers are strategically integrating high-cost components. Concurrently, they are diligently working to minimize downtimes associated with blade changeovers.
Per insights from FMI analysts, market participants are orchestrating a strategic shift towards crafting distinctive and tailor-made bandsaw machines. This pivot aims to cater to the diverse needs and requisites of varying end users.
Competitive Landscape:
Key companies in the global Bandsaw market are focusing on launching novel products and services to expand their service portfolio. Some of the players are also aiming at merger and acquisition to gain competitive edge.
- Starrett
- AMADA Machine Tools Co. Ltd.
- Mega Machine Co. Ltd.
- Pedrazzoli IBP
- Everising Machine Co.
- Petra Stroji D.O.O.
- MEBA Metall-Bandsagemaschinen GmbH
- Santec Group
- Cosen Saws International Inc.
- ITL Industries Limited
- Behringer GmbH
- Soitaab Impianti SRL
- Multicut
- Kasto Machinenbau GmbH & Co. KG.
- Others
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Elevating Convenience: Online Channels Spearhead Sustained Revenue Uplift
In a paradigm where “online” has seamlessly intertwined with the notions of “convenience” and “flexible procurement,” manufacturers are strategically allocating resources to fortify their online sales channels, reaping substantial Returns on Investment (ROI). The burgeoning momentum of online sales stands as a testament to the transformative shifts in consumer buying behaviors, wherein seekers of top-notch bandsaw machines demand optimal quality paired with compelling price points. This surge finds resonance in the burgeoning cadre of well-informed customers, amplifying the demand for authentic product information. Online platforms, equipped with comprehensive product descriptions, emerge as paramount choices to cater to these discerning customers’ needs.
Key Segments:
By Orientation:
- Horizontal
- Vertical
By Operation:
- Manual
- Semi-Automatic
- Fully Automatic
- CNC
By Cutting Type:
- Mitre
- Circular
- Ring
- Straight
By End Use:
- Automotive & Transportation
- Construction
- Mining
Aerospace:
- Shipbuilding
- Food
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East & Africa
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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