Global Glass Processing Equipment Market Will Flourish Following the Increased Construction Activities in APAC, Reports Technavio

LONDON--()--According to the latest market study released by Technavio, the global glass processing equipment market is expected to generate a revenue of more than USD 1 billion by 2020.

This research report titled ‘Global Glass Processing Equipment Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

Steady economic growth in APAC, especially in China, India, and Japan will spur construction activities and the automotive industry in the region, thus driving the growth of the global glass processing equipment market in the coming years.

Anju Ajaykumar, a lead analyst at Technavio for research on engineering tools, says, “Many manufacturing companies have shifted from the advanced economies to APAC due to the favorable business landscape, administrative setup, attractive foreign policies, and the availability of low-cost and skilled workforce in these emerging markets. For example, major automotive companies such as BMW, Daimler, Volvo, Ford, Hyundai, Suzuki, and Volkswagen have expanded their production in India in the last five years.”

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The report categorizes the global glass processing equipment market into the following segments based on end-user:

  • Construction
  • Food and beverage
  • Consumer electronics and furniture
  • Automotive

Global glass processing machinery market by construction sector

Glass is a major construction material accounting for approximately 25% of the total cost in developed regions like North America. The broad spectrum of properties that glass offers leads to its wide application in the construction sector. In addition, technological advances have led to further modification of the properties of glass especially in terms of weight and strength, which had hitherto hindered the large-scale application of glass in construction; thus, advocating the case for increased demand for glass from the construction sector. The enhancements in construction glass such as sun protection and temperature control are projected to strengthen the demand for glass further in the construction segment. The construction segment dominated the glass processing equipment market in 2015 with a market share of over 35% and is also expected to gain market share during the forecast period.

Global glass processing machinery market by food and beverage sector

Glass serves as one of the primary materials for packaging in the food and beverage industry that primarily takes different forms such as jars and bottles. Glass is a traditional material for packaging and has undergone constant reinvention and innovation. The versatility of glass in terms of its ability to take different shapes and color patterns contributes to its popularity as a packaging material. Environment sustainability with 100% recyclability of glass also adds to its preference as a packaging material. This characteristic that allows considerable energy and raw material saving as new glass packaging products are manufactured on a cradle to cradle basis. This also supports the use of glass as a packaging material in the food and beverage industry.

Global glass processing machinery market by consumer electronics and furniture sector

The demand for glass from the consumer electronics sector will foster the growth of the segment in the forecast period. The segment's growth will be in line with the growth of the consumer electronics sector due to extensive demand for glass in mobile phones, TVs, laptops, etc. The consumer electronics sector is expected to grow at a CAGR of 3.7% in the forecast period driven by demand for smartphones, tablets, and smart wearable electronics.

“Various companies and organizations are working toward revolutionizing glass applications in the consumer electronics industry. The major companies pioneering glass transformation are Google, Microsoft, and Apple,” says Anju.

Global glass processing machinery market by automotive sector

The glass processing machinery used in the automotive industry accounts for a significant share of the overall market and is expected to witness rapid growth in the forecast period. The use of glass in various automotive applications will contribute to the growth of the segment. The demand for automotive glass is highly dependent on global automobile sales. The increasing sales of vehicles due to the growing income levels of consumers worldwide and the quick recovery of the sector from the global recession will drive the demand for automotive glass.

The top vendors highlighted by Technavio’s heavy industry research analysts are:

  • Biesse
  • Bottero
  • CMS
  • Conzzeta
  • Glaston
  • OCMI-OTG

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global glass processing equipment market is expected to generate a revenue of more than USD 1 billion by 2020.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com