Surging application of horizontal bandsaw and vertical bandsaw machines in transportation and shipbuilding industries will propel the growth in the market.
The global bandsaw machines market is expected to surpass US$ 2.80 Bn, registering growth at over 3.9% CAGR between 2022 and 2029. Increasing demand for metal cutting bandsaw machines in automotive, construction, and mining industries will fuel the sales.
However, limitations in producing perfectly-shaped curved edges continue to threaten the relevance of bandsaw machines, adding new uncertainties to the near-term outlook.
Industrial technologies are currently undergoing a seismic shift away from traditional technologies and toward bandsaw machines. The primary reason for this trend reversal is an increasing demand from end users for flexibility during cutting applications, which will allow them to serve their customers’ needs in a much more efficient manner.
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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.
According to the FMI analysis, fully-automatic machines accounted for more than 1/3rd of the bandsaw machines sales in 2021, 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.
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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 2022, standing firmly as the largest end-user of bandsaw machines.
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.
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.
Aug 15, 2022
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