The global bandsaw machines market is anticipated at USD 2.1 billion in 2022. Demand is likely to remain high for bandsaw machines during the assessment period. This is due to the increased mining operation and garnering USD 3.3 billion in 2033, recording a CAGR of 4.2% from 2023 to 2033. The market is likely to secure USD 2.2 billion in 2023.
Data Points | Key Statistics |
---|---|
Bandsaw Machines Market Size Value in 2023 | USD2.2 billion |
Bandsaw Machines Market Forecast Value in 2033 | USD 3.3 billion |
Global Growth Rate | 4.2% |
Forecast Period | 2023 to 2033 |
Key Factors Shaping the Demand Outlook of the Bandsaw Machines Industry:
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Historical CAGR (2018 to 2022) | 3.7% |
---|---|
Forecasted CAGR (2023 to 2033) | 4.2% |
As per Future Market Insights (FMI), the sales in the global bandsaw machines market totaled USD 2.1 Billion by the end of 2022. Global sales of bandsaw machines are estimated to total over 200,000 units in 2021 amid the increasing application of horizontal bandsaw machines across diverse industries.
A growing focus on effective cutting technologies that promise high functionality for varying applications will improve the demand for bandsaw machines across the globe. The increasing need for energy efficiency will aid the adoption of bandsaw machines in the automotive industry.
The advent of e-commerce platforms worldwide is spurring the sales of horizontal bandsaw machines via online channels. On account of this, end users are collaborating with e-commerce giants such as e-Bay and Alibaba to increase their sales.
East Asia is expected to command the lion’s share of the global market. As per FMI, over 37.5% of bandsaw machine sales are expected to concentrate in East Asia through 2023.
Demand for Horizontal Bandsaw Machines in Automotive Industry Fuelling Sales
The horizontal bandsaw is extensively used to saw steel and other hard materials in the automotive and mining industries. Certain vehicle parts need proper metal cutting band saw tools for efficiency.
Automotive manufacturers are increasing the adoption of horizontal band saws for their speed and accuracy to cut hardened metal parts. Increasing demand for these bandsaw machines in emerging economies due to the expansion of the automotive industry will fuel the growth of the market.
Demand for Energy Derived from Biomass Encourages Bandsaw Machines Sales
Energy production using biomass is expected to increase, subsequently boosting the global bandsaw machines market. The use of biomass pellets has significantly increased over the past few years for harvesting biomass energy.
For instance, in 2017, biodiesel accounted for 24.1% of the energy production in Canada. This noteworthy share of biomass in energy production will aid the growth of the bandsaw machines market.
The Biomass Thermal Utilization Act (BTU Act) of 2019 in North America is focusing on promoting the environmental benefits of biomass-derived fuels and energy sources. This act provides 15% to 30% credit for clean wood heating systems for domestic and commercial applications.
Demand for vertical band saw tools will increase for wood cutting and cutting wood pellets, and other non-ferrous metal alloys. This will create impressive growth prospects for the market in the coming years.
Rising Demand for Bandsaw with ‘PCL-Based’ Controls Drive the Market
The growing trend of ‘automation’ has increased the demand for programmable logic controller (PLC)-controlled bandsaw machines. The advent of such machines is transforming the way of metal and wood-cutting activities worldwide.
PLC-controlled bandsaw machines are gaining immense popularity across the industrial sector and have improved their functionality and performance with continuous technological advancements.
Demand for ‘Energy Efficient’ Metal Cutting Band Saw to Rise
East Asia is expected to be the most lucrative market for bandsaw machines. With China being the hub for the largest manufacturing industries, demand for bandsaw machines is expected to increase in the automotive, construction, and mining industries.
The presence of leading bandsaw market players in China and the integration of cutting-edge technologies by these key players will drive the demand in the market. The expansion of the wood processing industry in China is aiding the demand for bandsaw machines.
Demand for energy-efficient machines is expected to fuel the need for metal-cutting band saws across the country as end users are increasingly becoming conscious regarding the usage of resources.
Increasing the Usage of Horizontal Band Saws in the Manufacturing Industry for Metal Cutting will Drive the Market
As per Future Market Insights, India is expected to lead the growth in the South Asia bandsaw machines market. India is home to one of the largest manufacturing industries. The use of power generation is propelling the demand in the market with growing development in manufacturing industries.
Ongoing development and integration of robotics in vertical band saw machines by the leading key players will also aid the demand in the market. For instance, ITL Industries Ltd. announced the launch of an adjustable horizontal bandsaw machine to enhance the productivity and speed of metal-cutting bandsaws. NU-TECH Engineers, a well-known manufacturer, and supplier of manual bandsaw machines in India, in May 2020, announced the launch of metal cutting horizontal band saw for wood-cutting work.
Need for Circular Band Saws for Wood Pellets to Increase the Sales
Over the past few years, Japan has remained one of the prominent regions in the production of wood pellets. Increasing the application of portable bandsaw and horizontal band saw machines for the production of wood pellets for the biomass industry will create growth opportunities for the market players.
The strong presence of leading players such as Tsune and Amada Machine Tools Co. Ltd. and research and development to develop advanced and energy-efficient band saw machines will drive the market in Japan.
For instance, recently, Tsune announced the launch of circular band saw machines, TJ-70GL and TK-80GL to cater to the surging demand and increase their revenue in the market.
Increasing Production of Horizontal Bandsaws with Circular and Straight Power Saws to Boost Sales
The growing focus on renewable energy sources has increased biomass production. With the advent of automation in the industrial sector, the need for flexibility has also surged. Favorable regulations of governments regarding the use of energy-efficient machines are propelling the need for band saw machines.
Industries are preferring horizontal bandsaw with circular power saw for greater flexibility as these machines are extensively used for biomass production for metal cutting and wood pellets.
Leading players such as Amada Tools and Tsune have increased the production of these bandsaw machines. They are also integrating cutting-edge technologies and introducing fully automatic horizontal bandsaw machines with circular and straight power saws.
Demand for Fully Automatic Horizontal Band Saw Machines Soaring among Automotive OEMs
As per Future Market Insights, demand for fully automatic band saw machines in the automotive and transportation sectors is increasing rapidly. A fully automatic band saw provides enhanced functionality and accuracy with minimal errors.
The need for cutting hard metals with precision and perfect finish has increased the demand for fully automatic band saws in the automotive industry. As per the study, the fully automatic band saw machines will account for over 1/3rd of the market share between 2023 and 2033.
The expansion of the automotive industry in China, India, and Japan will create growth opportunities for band saw machine manufacturers over the forecast period. The automotive and transportation industry will continue to account for a significant share of the global bandsaw machines market through 2033.
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As per Future Market Insights, the global bandsaw machines market is fragmented in nature. Tier-1 players are expected to contribute around 29%-31% of total sales in the market. Most of the key players are focusing on the development of new products and launches to increase their revenue.
Some of the other players are adopting expansion strategies such as mergers, acquisitions, and partnerships with original equipment manufacturers of the automotive industry to set up their distribution and sales networks.
The mid-level and emerging players will command a lion’s share in the overall market, accounting for around 69%-71%. They are also expanding their product portfolios to improve their market presence via affordable products with ‘best-in-class’ features.
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Report Attribute | Details |
---|---|
Growth Rate | CAGR of 4.2% from 2023 to 2033 |
Market Value in 2023 | USD 2.2 billion |
Market Value in 2033 | USD 3.3 billion |
Base Year for Estimation | 2022 |
Historical Data | 2018 to 2022 |
Forecast Period | 2023 to 2033 |
Quantitative Units | Revenue in USD Billion and CAGR from 2023 to 2033 |
Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
Segments Covered | Orientation, Operation, Cutting Type, End Use, Region |
Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East & Africa |
Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel, Rest of MEA |
Key Companies Profiled | Starrett; AMADA Machine Tools Co. Ltd.; Mega Machine Co. Ltd.; Pedrazzoli IBP; Everising Machine Co.; Petra Stroji D.O.O.; MEBA Metall-Bandsagemaschinen GmbH; Santec Group; Cosen Saws International Inc.; ITL Industries Limited; Behringer GmbH |
The market value for 2023 is USD 2.2 billion.
Through 2033, bandsaw machines sales will rise at a 4.2% CAGR.
The market rose at a 3.7% CAGR from 2018 to 2022.
By 2033, the market will reach USD 3.3 billion.
Fully automatic segments will be the key application area through 2033.
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