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Bandsaw Machines Market Reflecting a CAGR of ~4% During the Forecast Period 2019 - 2029

VALLEY COTTAGE, New York, Aug. 21, 2019 /PRNewswire/ -- 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.
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.
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.
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 the product integrity, which also works in favor of online channels that include detailed product descriptions for the consumers' reference.
This 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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