The global ultra-hard material cutting (UHMC) machine market is expected to grow at a CAGR of around 10% during the forecast period, according to Technavio's latest market research.
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Technavio has published a new report on the global ultra hard material cutting (UHMC) machine market from 2017-2021. (Graphic: Business Wire)
In this market research report, Technaviocovers the market outlook and growth prospects of the globalUHMC machine marketfor 2017-2021. The market is further categorized into two major segments based on type, which are electrical discharge machining (EDM) and laser cutting, of which the EDM segment accounted for more than 51% of the market share in 2016.
"Metal cutting tools, such as EDM and laser cutting, are an essential component of machine shops, automotive, aerospace and defense, medical devices, shipbuilding, and railway industries, which make precision engineered components. This is because these industries extensively use precisely cut metal blocks that are obtained by using various metal cutting techniques. Growth in these industries will have a significant impact on the demand for UHMC tools," says Gaurav Mohindru, a lead engineering tools research expert from Technavio.
Technavio's research analysts segment the global UHMC machine market into the following regions:
- APAC
- Americas
- EMEA
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UHMC machine market in APAC
APAC accounts for the leading share of the overall UHMC machines market. Due to rapid industrial and economic development across the region, several domestic and international companies in the electrical equipment, industrial machinery, automotive, aerospace and defense, and other sectors are investing heavily in the region. The market in APAC is anticipated to grow at a CAGR of more than 11% during the forecast period.
The increased investments have spurred many companies in APAC to use these cutting machines technology to manufacture high-quality and extremely durable products faster.
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UHMC machine market in Americas
In the Americas, UHMC machines find predominant use in sectors, such as aerospace and defense, automotive, electrical equipment, industrial machinery, and robotics. In North America, the US, which is a leading producer of automobile technology, is the major manufacturer in the automotive sector. The huge consumer base in the country coupled with high disposable incomes is the main reason for the high demand for automobiles. The rising demand is encouraging automotive OEMs to increase their production levels.
UHMC machine market in EMEA
In EMEA, the use of UHMC machines predominantly relates to the aerospace and defense and automotive sectors. Despite the economic crisis in Europe, a major manufacturer of automobiles, the market in the region is likely to grow due to the benefits that these machines offer. They had proven to be economical and useful to manufacturers especially when governments in many European countries were increasingly adopting strict measures. The regional market is projected to grow at a CAGR of 8.53% during the forecast period.
"The use of laser cutting machines allows the automation of manufacturing processes, resulting in higher efficiency and lower energy consumption. Therefore, the benefits include the competitive manufacturing of products, as the lower cost of products enables companies to compete better at the global level," says Gaurav.
The top vendors in the global UHMC machine market as highlighted in this market research analysis are:
- Bystronic
- Coborn Engineering
- Coherent
- DMG MORI
- GF Machining Solutions Management
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