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.
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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.
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1. The global bandsaw machines market size in 2018 was valued at ~US$ 1.8 Bn.
2. The bandsaw machines market is expected to increase at a CAGR of ~4% over the forecast period of 2019-2029.
3. The horizontal segment is anticipated to remain as the most preferred orientation type segment in the bandsaw machines market.
o The growth of this particular segment can be primarily attributed by the increasing production of automotive and wood pallets globally.
4. Collectively, North America, East Asia, and Europe are likely to hold 70% of the revenue shares in the bandsaw machines industry by the end of 2029.
o The East Asia market is expected to remain as the prominent regional market for bandsaw machines manufacturers due to the presence of large number of end use manufacturing industries in the region.
5. The automotive and transportation segment is expected to lead the market share in terms of revenue generation followed by the others segment, which includes wood cutting and biomass generation. Growing inclination towards biomass for power generation is expected to create robust opportunities in the segment.
o Key regions such as North America and Europe accounted for a substantial share in the round wood production. These regions are expected to create healthy demand for bandsaw machines.
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.
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Bandsaw Machines Market Structure Analysis
• The global bandsaw machines market is an extremely fragmented market. Tier 1 players hold ~29-31% share in the market.
• Most of the key players sustain strategic focus on the development of new products and expansion of business in new regions and setup of the distribution and sales network.
• Noteworthy investments in developing new and durable bandsaw machines by companies are expected to exploit the bandsaw machines market growth prospects.
o Key players in the bandsaw machines market such as Amada Holdings Co., Ltd, Starrett, KASTO Maschinenbau GmbH & Co. KG, and Cosen Saws International, Inc., are developing new products and focusing on product innovations to sustain their positions in the market.
• International and regional market players have an extensive marketing network of branch, regional, and global offices across tier 1 and tier 2 cities, providing support to its customers.