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Global Tempered Glass Cutting Machine Market Report 2024: Innovation, Demand, and Future Trends
tempered glass cutting machine market
According to The Business Research Company's, The tempered glass cutting machine market size has grown strongly in recent years. It will grow from $3.64 billion in 2023 to $3.89 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to demand for consumer electronics, automotive industry growth, construction sector expansion, growth of the medical equipment.
The tempered glass cutting machine market size is expected to see strong growth in the next few years. It will grow to $4.86 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to rise in electric vehicles (evs), global urbanization, expansion of solar panel production, industrial automation. Major trends in the forecast period include improvements in glass quality, smart home technologies, high-precision cutting, energy-efficient glass processing, green glass manufacturing, integration with ai and iot.
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Market Drivers and Trends:
The growing construction and infrastructure development is expected to propel the growth of the tempered glass cutting machine market going forward. Construction and infrastructure development refer to the processes and activities involved in creating, improving and maintaining physical structures and facilities that are essential for the functioning of societies and economies. Tempered glass machines are crucial to construction and infrastructure development, enabling the production of durable and safety-enhancing glass components used in buildings, facades and structures. For instance, in July 2023, according to the U.S. Census Bureau, a US-based government institution, the expected annual rate of construction spending in May 2023 was $1,925.6 billion, which was 0.9% higher than the April estimate of $1,909.0 billion. Therefore, the growing construction and infrastructure development is driving the growth of the tempered glass cutting machine market.
Major companies operating in the tempered glass cutting machine market are adopting and developing innovative tempered glass cutting machines to sustain their position in the market. Modern circulated-air convection technology refers to using fans and an exhaust system in ovens to circulate hot air evenly throughout the cavity. For instance, in February 2023, Glaston Corporation, a Finland-based machine industry company, introduced Glaston FC Series EVO, the newest FC Series product line product, which is an innovative, energy-efficient and adaptable solution for the evolving glass industry. The FC Series EVO uses the market's most modern circulated-air convection technology to process any glass type with maximum energy efficiency. The flat glass tempering line also contains cutting-edge technology for dependable and flexible manufacturing.
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Major Key Players of the Market:
Luoyang North Glass Technology Co. Ltd., Biesse Group S.p.A, Bottero S.p.A., Glaston Corporation, Shenyang All-Powerful Science & Technology Stock Co. Ltd., Anhui Glass Machinery Technology Co. Ltd., HHH Equipment Resources, Intermac, Macpower CNC Machines Limited, LiSEC Austria GmbH, Solaronix S.A., Turomas S.L., Jinan Sintech CNC Equipment Co. Ltd., Shandong Eworld Machine Co. Ltd., Anhui Jingling Glass Co. Ltd., Anhui Yinrui Glass Machinery Co. Ltd., Beijing Pujinli Technology Co. Ltd., Bengbu Ruifeng Glass Machinery Co. Ltd., CMS Glass Machinery, Vetromac SRL, Foshan Techwin Glass Technology Co. Ltd., Guangzhou Daqin New Universe Technology Co. Ltd., Shenzhen YTD Industrial Co. Ltd., Guangzhou S&K Glass Machinery Co. Ltd., Shandong Huashili Automation Technology Co. Ltd.
• The Tempered Glass Cutting Machine is expected to grow to $4.86 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%.
• Construction And Infrastructure Development Boosting The Tempered Glass Cutting Machine Market
• Innovation In Tempered Glass Cutting Machines With The Introduction Of Circulated-Air Convection Technology
• Asia-Pacific was the largest region in the Tempered Glass Cutting Machine market in 2023. The regions covered in tempered glass cutting machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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