LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global shearing machine market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The research study by Technavio on the global shearing machine market for 2017-2021 provides a detailed industry analysis based on the product (bench shears, guillotine shears, alligator shears, throat-less shears, and power shears) and geography (APAC, EMEA, and the Americas).
|Shearing is a cutting process; wherein the stock metal is cut without the use of melting and burning methods or through the formation of chips. According to Technavio analysts, the global shearing machine market size is projected to grow to USD 1.05 billion by 2021, at a CAGR of close to 3% over the forecast period.|
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The top three emerging trends driving the global shearing machine market according to Technavio heavy industry research analysts are:
- Additive manufacturing
- Increased automation
- Replacement of hydraulic applications with fully electrical systems
“Additive manufacturing or 3D printing is a revolutionary technology, which enables the production of complex geometries that are either arduous or impossible to achieve with traditional manufacturing techniques,” explains Gaurav Mohindru, a lead analyst at Technavio for tools and components research.
Even though the initial cost of setting up the additive manufacturing machinery is high, it is highly beneficial as it results in significant reduction of capital costs, raw material costs, and costs to reclaim scrap. This technology is expected to lead to a complete shift in manufacturing processes, thereby creating a demand for shearing machines.
Consumers expect a high value-for-money and demand high-quality products without any defects. This has led to increased automation of manufacturing processes, especially in small- and medium-sized industries, which not only increases profit margins but also has a positive impact on resource regulation and loss control. Automation in a company’s production or fabrication process increases its competitive edge and reduces operational costs. However, automation of process results in the creation of more precise metal parts, thereby driving the growth of the shearing machines market.
Replacement of hydraulic applications with fully electrical systems
“Hydraulic fluid power technology is increasingly being preferred by manufacturers due to their high-pressure applications. For instance, many power shears and guillotine shears are hydraulically powered and adopted in a variety of industries for their benefits,” says Gaurav.
Currently, these systems are being integrated with electrohydraulic systems to enhance functionality options, thereby improving the scope for sale of hydraulic cylinders in new markets. Several advantages are offered by electrical systems, resulting in increased demand for these products.
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