Global Special Purpose Machines Market: Industry Analysis And Forecast (2020-2026)

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Global Special Purpose Machines Market: Industry Analysis and Forecast (2020-2026)

Global Special Purpose Machines Market was valued at $xx Mn in 2019 and is expected to reach $xx Mn by 2026, at a CAGR of xx% during the forecast period.

Global Special Purpose Machines Market
Global Special Purpose Machines Market Introduction

Special purpose machines are the advanced form of automated and programmed machines compared to CNC machines. These machines can be designed and manufactured as per the special requirements of the manufacturing process, for example, the jobs which are meant to add value and create product differentiation, hence the name – special purpose machines. Special Purpose Machines offer tremendous scope for high volume production at low investment and at the low cost of production when compared to CNC machines. SPM, Special Purpose Machines is a high productivity machine, with specially designed tooling and fixture, dedicated to mass-producing the same component day in and day out.


Global Special Purpose Machines Market Dynamics

In the developing world, performing drilling and riveting operations simultaneously on the same machine is a bigger problem for manufacturing companies and workshop holders. Individual drilling and riveting machines exist in the market, but they are not beneficial for workshop holders, small industrialists and entrepreneurs. Special purpose machine (SPM) combines the two machines, which are used for drilling and riveting operation separately. This machine concept provides the most compact, economical, and portable design which is easy to handle and simple in operation by a single person.
One of the key factors that will drive the market’s growth is the increasing demand for fabricated metal products. Fabricated metals are manufactured using machine tools such as press brakes. The demand for fabricated metals is increasing in the construction and transportation machinery industries. This in turn, will drive the demand for special-purpose machines. Fabricated metals are also used in the automotive industry, transport machinery, stamped metal products, ammunition, small arms, cutlery and utensils, fasteners, building products, building machinery, and other metal-based hardware. Countries such as the US are witnessing an increasing demand for the production of fabricated metals. This will drive the demand for special purpose machine tools in the coming years, subsequently driving the market growth.

The emergence of 3D printing is one of the key trends that will gain traction in the global special purpose machines market in the forthcoming years. 3D printing or additive manufacturing is used to create three-dimensional objects using a digital file. Special purpose machines are highly used in the additive manufacturing of objects since they reduce capital costs, raw material costs, and the expenses required to reclaim scrap.


Global Special Purpose Machines Market Segment Analysis

By Control type, CNC segment is expected to boost the market growth, owing to technological advancements.

Global Special Purpose Machines Market

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Computer numerical control (CNC) refers to the process of automating machines that operate through programmed commands encrypted on a storage medium. A significant rise in the demand for large-scale automation has been witnessed in various industries owing to the increasing need for reducing the overall operational costs. Apart from this, the evolution of the Internet of Things (IoT) and machine learning technology has resulted in the development of applications that increase the demand for the CNC machine to operators/supervisors on their computers as well as smartphones. In addition to this, manufacturers are launching new CNC machines that perform multiple operations simultaneously. These machines aid in increasing the flexibility for attendants and minimizing the workforce requirements. Rising concerns over global warming and depleting energy reserves have led to the production of alternative sources of power, such as solar and water, among various others, which are further promoting the market growth. CNC machines are also actively used in power generation, as this process requires wide-scale automation.


Global Special Purpose Machines Market Regional Insights

Global Special Purpose Machines Market

APAC accounted for the majority market shares in 2016. China is moving towards a more consumption-oriented economy. This will create the demand for special purpose machines from the transportation sector, especially the aviation industry. To boost the overall manufacturing output of the region, manufacturers are also focusing on adopting advanced production machinery and equipment such as special-purpose machines.


Scope of the Global Special Purpose Machines Market:Inquire before buying


Global Special Purpose Machines Market, by Region

• North America
• Europe
• APAC
• MEA
• South America


Global Special Purpose Machines Market: Key Players

• Staubli International AG
• Mitsubishi Heavy Industries, Ltd.
• Dalian Machine Tool Group Corporation
• HMT Machine Tools Limited
• Batliboi Limited
• Invensys Engineers
• EMAG GmbH & Co. KG
• FIVES group
• Global CNC Automation
• HANN KUEN MACHINERY & HARDWARE CO., LTD.
• Mazak Corporation, Premier, Ltd.,
• Renders India Pvt. Ltd.
• Loiretech
• Shenoy Engineering Pvt. Limited
• WFT GmbH & Co. KG

 

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