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Tempered Glass Cutting Machine Market Projected Expansion to $6,061.51 million by 2031 with a 5.6% CAGR
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Increase in disposable income, technological upgrades, spurring rise in the original equipment manufacturers (OEMs), surge in popularity of tempered glass cutting machine in the automotive sector, and rapid growth of the building and constructions sectors globally to drive the growth of the global tempered glass cutting machine market. Closure of manufacturing facilities, reduced demand from automotive sector, and shortage of workforce during the pandemic negatively hindered the global market growth.
COVID-19 Scenario:
The outbreak of the COVID-19 has had a negative impact on the growth of the global tempered glass cutting machine market, owing to the occurrence of lockdowns in various countries across the globe.
Lockdowns resulted in the closure of various manufacturing facilities, including those of tempered glass cutting machines, which adversely impacted its demand.
In addition, reduced demand from the automotive industry due to declining car sales during the pandemic further aggravated the impact on the market.
Furthermore, delay and cancellation of all sorts of building and construction activities during the outbreak additionally impacted the growth of the market.
These restrictions were imposed by the government so as to curb the spread of the virus during the pandemic. However, the market is expected to recoup soon.
The report offers detailed segmentation of the global tempered glass cutting machine market based on automation, cut type, machine power, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
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Based on automation, the automatic segment held the dominating market share in 2021, holding more than two-thirds of the global tempered glass cutting machine market share, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 5.9% during the forecast period. The report also analyses the semi-automatic segment.
Based on machine power, the 100W and above segment held the largest market share in 2021, holding nearly three-fourths of the global tempered glass cutting machine market share, and is expected to maintain its leadership status during the forecast period. The Below 100W segment, on the other hand, is expected to cite the fastest CAGR of 6.1% during the forecast period.
Based on region, the market across Asia-Pacific region held the dominating market share in 2021, holding nearly three-fifths of the global tempered glass cutting machine market share, and is expected to maintain its leadership status during the forecast period. The LAMEA region, on the other hand, is expected to cite the fastest CAGR of 6.7% during the forecast period.
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Major Players:
The report also analyses prominent players of the global tempered glass cutting machine market such as Anhui Glass Machinery Technology Co., Ltd., Anhui Jingling Glass Co., Ltd., Anhui Yinrui Glass Machinery Co., Ltd., Beijing Pujinli Technology Co., Ltd., Bengbu Ruifeng Glass Machinery Co., Ltd., Biesse Group, Bottero S.p.A., CMS Glass Machinery, Intermac, Jinan Sintech CNC Equipment Co.,Ltd, LiSEC, Luoyang North Glass Technology Co., Ltd., Shenyang All-Powerful Science &, Technology Stock Co. LTD, Solaronix SA, Stron, Turomas, and Vetromac SRL.
The report analyzes these key players in the global tempered glass cutting machine market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
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