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Construction And Infrastructure Development Boosting The Tempered Glass Cutting Machine Market: Core Growth Enabler in the Tempered Glass Cutting Machine Market, 2025
Tempered Glass Cutting Machine
What Will the Tempered Glass Cutting Machine Industry Market Size Be by 2025?
In recent times, the market size for tempered glass cutting machines has seen substantial growth. It is expected to increase from $3.89 billion in 2024 to $4.11 billion in 2025, indicating a compound annual growth rate (CAGR) of 5.8%. The significant growth during the historic period can be linked to the rising demand for consumer electronics, the expansion of the automotive industry, the development of the construction sector, and growth in the medical equipment sector.
What's the Long-Term Growth Forecast for the Tempered Glass Cutting Machine Market Size Through 2029?
Over the upcoming years, the tempered glass cutting machine market is anticipated to experience substantial growth, reaching a net worth of $5.19 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 6.0%. The projected growth during this period can be linked to the surge in electric vehicles (evs), worldwide urbanization, increased production of solar panels, and industrial automation. The forecast period will also see significant trends such as enhancements in glass quality, the incorporation of smart home technologies, high-precision cutting techniques, energy-efficient processing of glass, environmentally-friendly glass manufacturing, and the incorporation of AI and IoT.
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What Are the Key Growth Drivers Fueling the Tempered Glass Cutting Machine Market Expansion?
The tempered glass cutting machine market is expected to expand due to the escalating construction and infrastructure improvement activities. This development involves creating, updating, and managing necessary physical infrastructures and facilities crucial to the functioning of societies and economies. Tempered glass machines play a vital role in these activities by facilitating the production of solid and safe glass components used in construction and structuring of buildings and facades. As per the U.S. Census Bureau, in July 2023, the projected annual construction expenditure for May 2023 was $1,925.6 billion, marking a 0.9% increase from the April estimate of $1,909.0 billion. Hence, the growth of construction and infrastructure development contributes significantly to the success of the tempered glass cutting machine market. The rising demand in the automotive industry is also predicted to propel the tempered glass cutting machine market. This industry comprises companies and organizations involved in everything from designing, developing, and manufacturing to marketing, selling, and maintaining motor vehicles. The increasing requirement for tempered glass cutting machines in the automotive sector, where they shape glass into sizes needed for automotive applications, is becoming increasingly noticeable. These machines are essential in manufacturing safe and high-quality automobile glass components. For instance, according to the European Automobile Manufacturers Association in May 2023, global production of motor vehicles in 2022 reached 85.4 million units, showing a considerable 5.7% increase over 2021. Therefore, the growing demand in the automotive industry significantly drives the tempered glass cutting machine market.
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What Are the Key Trends Driving Tempered Glass Cutting Machine Market Growth?
Key players within the tempered glass cutting machine sector are embracing and advancing innovative cutting machines to maintain their marketplace standing. Modern circulated-air convection technology consists of utilizing fans and exhaust systems in ovens to evenly disseminate heat throughout the cavity. Given as an example, Glaston Corporation, a machine industry company rooted in Finland, unveiled their latest product, the Glaston FC Series EVO, in February 2023. This innovative, adaptable, and energy-efficient product aims to cater to the ever-changing needs of the glass industry. The FC Series EVO employs the industry's most advanced circulated-air convection technology, allowing for efficient processing of any glass type. Moreover, the flat glass tempering line incorporates the latest technology to ensure reliable and flexible production.
How Is the Tempered Glass Cutting Machine Market Segmented?
The tempered glass cutting machine market covered in this report is segmented -
1) By Machine Power: Below 100W, 100W And Above
2) By Automation: Semi-Automatic, Automatic,
3) By End-User Industry: Automotive, Construction And Architecture, Electronics And Appliances, Furniture And Interior Design, Aerospace And Aviation, Solar Energy, Other End-User Industries
Subsegments:
1) By Below 100W: 50W-75W, 75W-99W
2) By 100W And Above: 100W-150W, 150W-200W, Above 200W
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Which Companies Are Leading the Charge in Tempered Glass Cutting Machine Market Innovation?
Major companies operating in the tempered glass cutting machine market are 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.
Which Regions Are Leading the Global Tempered Glass Cutting Machine Market in Revenue?
Asia-Pacific was the largest region in the Tempered Glass Cutting Machine market in 2024. 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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