As per Future Market Insights, the glazing machine market is anticipated to attain a value pool of US$ 12 billion by 2023-end. Global demand for glazing machines is expected to rise at a CAGR of 11% to US$ 35 billion in 2033.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 12 billion |
| Projected Market Value in 2033 | US$ 35 billion |
| Growth Rate (2023 to 2033) | 11% CAGR |
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According to ongoing study, Glazing Machine market is expected to experience substantial gains, with projections around 10% CAGR from 2021 to 2031. Businesses have been considerably impacted as a result of the Covid-19 epidemic, as a result of the lockdowns established in various nations to stop the disease's spread.
Due to factory closures, supply chain obstructions and the global economic slump, the overall market breakdown caused by COVID-19 is also impacting market growth. Revenues get decreased in 2020 but on other hand it is expected to steadily increase beginning in 2021.
Companies optimizing their operation and strategy will sustain and beat the competition and fulfilling the increasing demand. Glazing Machine Market will grow in the medium term with a rapid growth projection in the long run.
Enhancement of aesthetic and functional features of glass such as heat emissivity, light reflection, absorption by respective end users is expected to incur glazing machines to a high degree.
For instance, in automobiles, the use of polycarbonate in headlights as well as the increasing acceptance of sunroof and rear quarter glass-equipped premium automotive vehicles are driving the market ahead.
The glazing machine market is also flourishing due to rising demand for complicated glazing designs and lightweight automobiles. Original equipment manufacturer have also boosted the use of lightweight materials in automobile components to reduce total vehicle weight. The vehicle's weight is reduced, its fuel economy improves considerably. Not only will this increase in fuel efficiency benefit automobile owners, but it will also help manufacturers fulfil their fleet-level pollution targets.
Another major end use of glazed glass is being witnessed in construction sector where glass facades and BIPV modules are being installed at a hefty rate. To fulfill the material requirement, glazing machine will be used to a profound extent by glass manufacturers.
Conventionally, semi-automatic and manual supervision prototypes of the machine was introduced, which subsequently is likely to shift towards fully automated machines upcoming years.
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The glazing machine equipment in Asia pacific is expected to grow at the highest rate in following years. Due to robust growth in building and construction industry the region, is expected to be a leading center for glazing machine manufacture and sales in recent years. The rising global economy will result in increased demand in developing countries such as the China, India, ASEAN as well as Australia and Japan, as well as increased revenue and growth.
Despite a severe economic downturn, the Automatic Glazing Machine Market has recovered by implementing new tactics and developing new capabilities. On both a regional and global scale, the market has begun to look for other funding sources and business models in order to stay afloat.
Construction, Automotive and Photovoltaics industries are expected to lead the forefront of regional market growth of the machine. The market growth of Glazing machine in Europe is expected to be driven by Germany, United Kingdom, Italy and France in the upcoming years.
The smart manufacturing market in North America is moderately competitive, with several major players. The market's major players are concentrating their efforts on expanding their customer base to include foreign countries. In terms of adoption of key technological innovations, the United States has traditionally been a forerunner. The government has provided the subsidies and tax breaks to encourage the use of cost-efficient systems.
Increased need for automation to improve efficiency and quality, the requirement for compliance and government support for digitalization, and the development of the Internet of Things are all important drivers influencing market growth. The manufacturers across industries in North America are laying the groundwork for progress by boosting their engagement levels. Hence the future of this industry seen very progressive and revenue oriented.
Key examples of the device include
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Glazing Machine Market
