Technavio's latest market research report on the global special purpose machines marketprovides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technaviodefines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170703005597/en/
Technavio has published a new report on the global special purpose machines market from 2017-2021. (Graphic: Business Wire)
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free
The top three emerging market trends driving the global special purpose machines market according to Technavio research analysts are:
- 3D printing
- Increasing automation
- Growth of equipment rental business
Looking for more information on this market? Request a free sample report
Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
3D printing
The manufacturing industry has witnessed the advent of a revolutionary technology known as 3D printing. 3D printing, also known as additive manufacturing, is the process of creating three-dimensional objects using a digital file. The process usually involves building the product in thin layers one by one. 3D printing enables the production of complex geometries that are either arduous or impossible with traditional manufacturing techniques.
Traditional manufacturing techniques are subtractive in nature where the manufacturing takes place by cutting away the excess material. This way approximately 60%-70% of the material ends up as scrap, which is later melted and reused adding up to the cost.
"The additive nature of 3D printing, unlike traditional printing technologies, optimizes the use of materials and therefore minimizes wastage of materials. Replacing the traditional manufacturing techniques with 3D printing will result in significant reduction of capital costs, raw material costs, and costs to reclaim scrap," says Gaurav Mohindru, a lead analyst at Technavio for engineering tools research.
Increasing automation
The increasing demand for high-quality products has pushed companies to incorporate automation in their manufacturing process. Global process automation is expected to grow at 6%, and the investments are expected to reach USD 120 billion by 2019.
The machine tools industries in the developing and developed countries, especially those in SMEs, are the major users of NC and CNC machines rather than conventional machines. The use of CAD and CAM to design NC and CNC machine components results in an extremely accurate machine that can operate effectively and efficiently. The use of NC and CNC machines not only enhances the quality of the end-product but also reduces the time and human effort.
"Implementing automation increases not only 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," says Ishmeet.
Replacement of hydraulic applications with fully electrical systems
Hydraulic fluid power technology is preferred for high-pressure applications. For instance, many of the power shears and guillotine shears are hydraulically powered. However, there are numerous complications associated with the technology, such as the level of accuracy, interfacing, and threat of leakage.
With the advent of electromechanical drive systems, hydraulic cylinders are being increasingly replaced by electric drives in press brakes. The productivity of an electric drive press brake is double than that of a conventional hydraulic press brake. However, the development of electrohydraulic systems has enhanced the features of conventional hydraulic systems with a wider array of functionality options, thus improving the scope for sale of hydraulic cylinders in new markets. Several advantages are offered by electrical systems over hydraulic systems in press brakes, resulting in the growing demand for electrical systems.
Browse Related Reports:
- Global HVAC Equipment Market 2017-2021
- Global Heat Pump Water Heater Market 2017-2021
- Global Variable Refrigerant Flow System Market 2017-2021
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20170703005597/en/
Contacts:
Technavio Research
Jesse Maida
Media Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
