Ultra Hard Material Cutting Machines Market - US$1.81 bn by the end of 2024

The leading factor augmenting the global ultra-hard material cutting machines market is the growing demand for semiconductor substrates built from synthetic diamonds.

Additionally, ultra-hard material cutting machines are finding greater uses in more industries, including mining, defense, and semiconductors and electronics.

Advancements in technology such as the development of fiber lasers has also bolstered the global ultra-hard cutting machine market. The market is, however, restrained by factors such as the high cost and complexity of the machines.

The market is segmented on the basis of types, into electrical discharge machines, laser cutting machines, and others. EDM have consistently led the global ultra-hard cutting machine market till 2015 and are expected to continue leading for the time being.

The global ultra-hard cutting machine market was valued at US$730.0 mn in 2015 and is expected to reach US$1.81 bn by the end of 2024, with its revenue expected to expand at a CAGR of 10.8% within a forecast period from 2016 to 2024. In terms of volume, the global ultra-hard cutting machine market is expected to reach 6661 units by the end of 2024.

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Asia Pacific had held the leading share in the global ultra-hard cutting machine market in terms of both value and volume in 2015. Its value in 2015 was already greater than US$710 mn and is predicted to grow at a very fast rate till 2024. The demand for ultra-hard cutting machines in Asia Pacific has grown in the recent past due to industrial and technological developments in the region.

The speedy adoption rate of newer technological innovations and a growing investments in research and development by private entities from the semiconductor and electronics industry is expected to further bolster the global ultra-hard cutting machine market.

In 2015, North America held the second largest share in the global ultra-hard cutting machine market. The region has been the base for a lot of key research and development activities and enjoys the early adoption of several of these innovations, especially in the U.S.

These form the primary factors fuelling the growth of the ultra-hard material cutting market in North America. Europe has also been a fruitful region for the sales and development of ultra-hard material cutting machines, due to a heavy rate of use by countries such as Germany. There is also a great scope of increase of demand for the newer laser cutting machines available in the market.

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This release was published on openPR.