By value, Persistence Market Research has estimated 3.6% CAGR for the global bandsaw machine market between 2022 and 2032.
NEW YORK CITY, NEW YORK, UNITED STATES, July 5, 2022 /EINPresswire.com/ -- The global "bandsaw machine market" is anticipated to exhibit a growth rate of 3.6% and reach a market valuation of US$ 4.7 Bn by the end of 2032, as per detailed industry analysis by Persistence Market Research.
Bandsaw machines have evolved as a viable alternative to circular saws due to their numerous benefits and cost savings. Bandsaw machines are more efficient and accurate than other types of saws with their high blade tooth positioning and operating rates. However, these machines need frequent maintenance, and in the absence of skilled professional, they tend to incur higher downtime and repair costs. As such, customers are choosing manufacturers who offer bandsaw machines that require less repairs and generate greater returns over the life of the equipment.
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The COVID-19 outbreak had a significant impact on market growth in 2020 because of widespread lockdowns and transit restrictions. The pandemic knocked off supply and demand in the global automobile & transportation, mining, aerospace and other industries, causing them to slow down dramatically. Demand for bandsaw machines as well witnessed a downfall owing to the shutting down of manufacturing units and logistical centers.
Key Takeaways from Market Study
In order to exceed end-user expectations for efficiency and production capabilities, manufacturers have concentrated their efforts on strategic product designs and investments. Intellectual capital investments boost the sheet metal sector’s progress and is predicted to be one of the most important success drivers.
Expansion of distribution networks and long-term supply agreements with end customers, as well as the use of service-based methodologies, including the development of customized solutions, are expected to be major success factors in this business.
The use of digitally-controlled bandsaw machines has considerably reduced the amount of human involvement required in sheet metal manufacturing. CNC (computer numerically controlled) bandsaw machines, for example, include touchscreen controls that allow the operator to quickly and easily change back gauges.
By end use, the automotive and transportation industry is anticipated to remain a key segment anticipated to account for 23.6% market share by value in 2022.
“Along with the growing automotive sector, the rising metal cutting industry, and increasing R&D activities are supporting market growth. Growth of the biomass energy industry is also a crucial trend accelerating market progress,” says a Persistence Market Research analyst.
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Growing Popularity of Bandsaw Machines
Bandsaw machines are widely used to cut material; this is basically a power saw with a sharp blade and a continuous toothed metal blade stretched between two or more wheels. These bandsaw machines are mostly used in forestry, metallurgy, and woodworking, and also in the automobile, aerospace, rubber, and other industries to cut a variety of materials.
Advantages include the ability to cut uneven or curved forms such as a jigsaw and generate a uniform cutting motion due to an evenly distributed tooth load. The minimal radius of a curve is defined by the breadth of the band and its kerf. Most bandsaws have two powered wheels that revolve in the same plane, but others have three or four to distribute the weight.
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The global bandsaw machine market is a consolidated space with the presence of key manufacturers along with small-scale manufacturing companies. Some of the key market players included in the report are Amada Machine tools, Kasto, Starrett, SOITAAB Group, and Burt Group.
Key market participants are focusing on growth through acquisitions, collaborations, and entry into emerging markets. They are adopting new technology for the advancement of bandsaw machines. Furthermore, increase in logistic and e-Commerce applications is allowing market participants to improve their supply chains.
More Valuable Insights
Persistence Market Research, a research and consulting firm, has published a new market research report on the global bandsaw machine market that contains industry analysis of 2017–2021 and opportunity assessment for 2022–2032.
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