What's driving the Paper Slitting Machine Market Growth? Prominent Players: Parkland Machines Ltd, ASHE Converting Equipment, SOMA, ATLAS CONVERTING EQUIPMENT LT , Euromac S.r.l., Parkinson Technologies, Inc, etc

The global paper slitting machine market is anticipated to gain traction from the rising initiatives by several organizations to lower energy consumption of the paper slitting machine by surging production capacity and bringing in digitization. This information is given by Fortune Business Insights™ in a recently published report, titled, “Paper Slitting Machine Market Size, Share & Industry Analysis, By Blade Type (Razor Blade, Shear Blade, and Air Score Blade), By Technology (Manual, Semi-Automatic, and Fully Automatic) and Regional Forecast, 2020-2027.” The report further mentions that the paper slitting machine market size was USD 417.4 million in 2019 and is projected to reach USD 548.6 million by 2027, exhibiting a CAGR of 3.5% during the forecast period.

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Analysis by Top Key Players:

• Parkland Machines Ltd (England)
• ASHE Converting Equipment (England)
• SOMA (Czech Republic)
• ATLAS CONVERTING EQUIPMENT LT (United Kingdom)
• GOEBEL Schneid und Wickelsysteme GmbH (Germany)
• Kampf Schneid- und Wickeltechnik GmbH & Co. KG (Germany)
• Euromac S.r.l. (Italy)
• Parkinson Technologies, Inc (United States)
• Pasquato cutting machines (ITALY)
• Universal Converting Equipment (United Kingdom)

"Rising Digitization of Production Process to Drive Growth"
Several prominent paper slitting machines manufacturers are gradually inclining towards automated solutions to achieve high efficiency and increase productivity. They are conductive extensive research and development activities to refine the entire production process of paper slitting machines. This would help them in reducing the waste generated by these machines, as well as in boosting the output. Therefore, it would lower the expenditure of such manufacturers. Also, the productivity of several manufacturers has surged owing to the digitization of their production process. However, the emergence of the covid-19 pandemic is likely to hamper the paper slitting machine market growth as the governments of many countries have decreased the trade of non-essential products globally.

"Availability of Labor at Low Cost to Accelerate Growth in Asia Pacific"

Asia Pacific procured USD 196.5 million in 2019 in terms of revenue. This growth is attributable to the availability of labor at cheap rates. Also, the densely populated countries, such as India and China house several paper slitting machine manufacturers for their lower capital costs. Both countries are considered to be the major manufacturing hubs for a wide range of paper products. Europe is expected to generate a considerable share fueled by the existence of multiple industry giants in this region. Besides, the regulatory bodies in this region are investing hefty amounts of money in a number of manufacturing projects.

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"Shear Blade Segment to Gain Maximum"

Share Owing to Their High Accuracy
In terms of blade type, the market is segregated into air score blade, shear blade, and razor blade. Out of these, the razor blade segment held 31.9% paper slitting machine market share in 2019. The shear blade segment is anticipated to generate the highest share during the forthcoming years backed by its ability to provide high accuracy during the cutting process.

"Key Companies Aim to Increase Sales by Providing Innovative Technologies"

Reputed companies present in the market are enhancing their research and development activities by investing huge sums. They are striving to equip the paper slitting machines with unique technologies. Below are two of the latest industry developments:
• October 2019: Atlas Converting Equipment Ltd. unveiled ER610-DT, its next generation compact turret slitter rewinder. It is capable of processing web widths up to 1650mm. It has a speed of 600m/min.
• April 2018: GOEBEL IMS announced the expansion of its service portfolio by opening MyLab. It is the company’s latest 800sqm customer innovation and application center to serve their clients efficiently.

Complete Report: https://www.fortunebusinessinsights.com/paper-slitting-machine-market-102919

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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

This release was published on openPR.