Ultra Hard Material Cutting Machines Market to Improve Demand for Fiber Laser Cutting Systems
Their collective share in the market at the time was 43.3% of the total market value. With a majority of the global ultra-hard material cutting machines market run by regional manufacturers, the market is known to be locked in mixed type of competitiveness.
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According to a research report released by Transparency Market Research, the global ultra-hard material cutting machines market is currently lacking in the overall competitiveness needed to cut down sales prices of these advanced cutting machines.
Over time, the intensity of rivalry among all players is expected to heighten, allowing for a greater scope of competitive pricing that will favor a greater rate demand. The threat from new entrants, however, is expected to remain fairly low over the coming years, owing to the steep capital required to establish oneself in the global ultra-hard material cutting machines market.
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.
Product Superiority Spurs Demand for Ultra-hard Material Cutting Machines
“The global ultra-hard material cutting machines market is primarily driven by the growing demand for semiconductor substrates built from synthetic diamonds.
The niche physical properties of synthetic diamonds are can impart better transform thermal management thereby allowing semiconductor design engineers to evolve from the conventional difficulties of power-density and reliability issues in the creation of smaller footprints,” states a TMR analyst.
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Furthermore, the applications of ultra-hard material cutting machines are growing across wider range of industries, such as mining, defense, and semiconductors and electronics.
This has been possible due to the incorporation of the latest technologies such as fiber lasers into the ultra-hard cutting machine. Fiber laser technologies are known to be about 30 times quicker than electrical discharge machines and are expected to find exceptionally high preference once their price comes down through product development and added market competition.
Manufacturers of Ultra-hard Material Cutting Machines Slowed by Cost and Design Issues
The two leading factors hurting the overall growth rate of the global ultra-hard material cutting machines market at the moment are the total costs involved in making each unit, as well as the complexities involved in using them.
The manufacturing of high resolution ultra-hard material cutting machines is exceptionally more expensive than the manufacture of conventional cutting systems and this puts a large strain on the medium-sized and smaller players in the market, in terms of both materials used and design adopted.
“Players in the global ultra-hard material cutting machines market, especially from developing regions, should not essentially be disheartened by the cost of manufacturing these machines.
It is only a matter of time that the industries from Asia Pacific and Latin America will be able to apply ultra-hard material cutting machines on a larger scale, thereby creating a much higher demand for them over time. This is what a lot of key players in the global ultra-hard material cutting machines market are currently interested in tapping,” adds the analyst.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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