A mixed type of competitiveness exists in the global ultra-hard material cutting machines market, says Transparency Market Research, based on a recently published report. In this market, most of the machine manufacturers are regional-based, and only few of these hold the leading market shares, thus causing the mixed competitiveness scenario. In 2015, three key players, i.e. GF Machining Solutions, DMG Mori Co., Ltd., and Machinery Systems Inc., held a collective share of 43.3%, thus making them leading businesses in this market.
As per the report published by TMR, the global ultra-hard cutting machines market had a valuation of US$730.0 mn in 2015. This valuation is further anticipated to be about US$1.81 bn by the end of 2024, with its revenue supposed to grow at a CAGR of 10.8%. This market growth is forecast within a period of 2016 to 2024.
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Ultra hard material cutting machines marketAsia Pacific to Dominate Market due to Rising Technological Development
Amongst the two segments of the global ultra-hard material cutting machines market, which come under the type’ criteria, the electrical discharge machines (EDM), held the leading market shares in 2015. This was mainly due to high usage of these cutting machines in the production of medical devices and other equipment. Even from a futuristic perspective, the EDM machines are expected to maintain their hold as the leading segment in the next few years.
Rise in Semiconductor Devices to Prove Beneficial to the Market
The most prime driver that is proving beneficial to the growth of the global ultra-hard material cutting market is the rising demand for semiconductor substrates that are extracted from synthetic diamonds. This is because of the specific physical properties of the synthetic diamonds that are quite necessary to provide appropriate thermal management while making the machines. In this way, such a semiconductor design can easily help stabilize the power-density and reliability based problems faced while making the machines.
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Another factor that has led to the market being boosted is the rising number of applications where these cutting machines can be used in sectors such as defense, electronics, mining activities, and many more. Product innovation also is another significant driver of the global ultra-hard material cutting machines market, thus leading to the development of cutting-edge machines that incorporate the use of fiber lasers. Such innovations makes it easier for market players to flourish, thus being a boon to the global ultra-hard material cutting machines market.
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High Cost and Machine Complexities Negatively Affect Market Growth
The global ultra-hard material cutting machines market is plagued by two main challenges: high costs needed to manufacture the machines and the complex processes that one has to deal with while using them. As the cost of the ultra-hard material cutting machines is substantially larger than the conventional cutting machines, small and medium-sized businesses may find it substantially difficult to invest money and sustain the market.
Several market players from developing regions of Latin America and Asia-Pacific are involved in many experiments regarding machine manufacturing, which may make it easier for small scale businesses to invest in these machines.
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