Rising Demand for Glass Cutting Machines to Boost the Production of Vehicles in the Automotive Industry. Manufacturers to Witness Lucrative Opportunities through 2034.
NEWARK, Del, Nov. 24, 2023 (GLOBE NEWSWIRE) — According to a Future Market Insights (FMI) report, the global glass cutting machine market is expected to register a valuation of US$ 596.1 Million in 2024, with a CAGR of 3.20% during the forecast period. The global market is likely to be worth US$ 793.4 Million by 2034. Diverse industries are increasing the demand for glass cutting machines to enhance the production of premium products. Manufacturers are developing these machines for end-use industries such as automotive, pharmaceuticals, electronics, aviation, and food & beverages to drive the global market.
The automotive industry is rapidly surging with rising consumer demand for automated cars and premium vehicles. Adopting Industry 4.0, vast infrastructure, and urbanization are surging the adoption of glass cutting machines among end users. A wide range of consumers are seeking renewable energy, and rising demand for solar panels is increasing the adoption of glass-cutting devices. These solar panels reduce carbon emissions and promote sustainability.
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Bringing intelligent innovations and new technologies and promoting sustainability are gaining vast popularity in the global market among manufacturers. Various companies collaborate with research institutions and international players to develop cost-effective, reliable products to boost sales. The rising adoption of CNC technology integration with glass cutting machines is capturing end-users’ attention for quick manufacturing processes.
Manufacturers are designing glass-cutting machines for making pharmaceutical and medical devices. On the other hand, growing consumer requirements for stylish components, premium devices, and luxury products are driving the market growth. The cosmetic sector is widely surging the adoption of glass-cutting machines for developing glass bottles and containers to enhance the shelf-life of products.
Key Takeaways:
- The glass cutting machine industry is registering a CAGR of 3.20% between 2024 and 2034.
- The United States is expected to register a CAGR of 2.80% by dominating the global market by 2034.
- During the forecast period, India is anticipated to capture a CAGR of 3.90% of the global market.
- Germany is anticipated to register a CAGR of 2.60% in the global market by 2034.
- China significantly drives the global market with a CAGR of 3.70%.
- With a CAGR of 2.80%, the United Kingdom is rapidly advancing globally.
- The furniture category is estimated to lead the global market during the forecast period.
“Manufacturers are developing a series of retrofitting options to enhance the cutting performance. Moreover, innovation in automatic cutting equipment is likely to present opportunities to simplify the operation and reduce cutting errors.” – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
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Competitive Landscape:
Key players are adopting various marketing tactics to launch products that satisfy consumers’ demands. These players heavily invest in research activities to develop premium products with precision that attract customers’ requirements. Key players attract relevant consumers through their valuable and cost-effective products to expand the market reach.
Players maintain strict regulations to reduce environmental impact and enhance reliable and durable products. These players capture a vast role in improving market revenue and promoting eco-friendly practices. These players are trying to design and develop valuable products to boost sales.
Recent Developments:
- Baleigh Industrial’s WJ-85CNC water jet introduces a groundbreaking design that prioritizes both work table accessibility and machine durability. The cutting table and framework of the WJ-85CNC are meticulously crafted using laser cutting technology, ensuring precise interlocks and impeccable welds
- KMT Waterjet Systems has unveiled the KMT Streamline PRO® 90,000 PSI | 6.200 bar Waterjet Pump, which represents the next generation of waterjet technology.
Key Players in the Glass Cutting Machine Industry:
- LiSEC Group
- Glaston Corporation
- TECNO 5 Srl
- R. Laurence Co., Inc
- Bottero S.p.A.
- CMS Glass Machinery
- LandGlass Technology Co., Ltd
- Biesse Group
- HHH Tempering Resources Inc
- Bystronic Glass
- HEGLA Group
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Glass Cutting Machine Market Segmentation Analysis:
By End Use:
- Furniture
- Automotive
- Construction
- Aviation
- Solar Energy
- Electronics
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
About the Industrial Automation Division at Future Market Insights:
The industrial automation team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With over 100+ reports and one Million data points, the team has analyzed the industry lucidly in 50+ countries for over a decade. The group briefly analyzes critical trends, including competitive landscape, profit margin, and research development efforts.
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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