Bandsaw is similar to a power saw provided with a sharp, long blade that uses a continuous metal toothed band extending between a varying number of wheels to process material. Most bandsaw machines use only two wheels for functioning. They are mainly used for woodworking, lumbering, and metalworking, but they can cut a wide range of materials. The benefits of a bandsaw machine are its uniform cutting process due to the tooth load being distributed evenly and the ability to cut curved or uneven shapes. Most bandsaw machines contain two wheels that are rotating in one plane, one of the wheels is powered, although some can have more than two wheels to distribute the load. The cutting blade comes in various tooth pitches and sizes, enabling flexibility of the machine in many ways and to cut a variety of materials such as metal, wood, and plastic.
COVID-19 scenario analysis:
- COVID-19 pandemic has shut-down the production of various products in the bandsaw machines industry, mainly owing to prolonged lockdown in major global countries. This has hampered the growth of the bandsaw machines market significantly from the last few months, and is likely to continue during 2020.
- COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020m and is likely to cause a negative impact on the market growth over the year.
- The major demand for equipment and machinery was previously noticed from giant manufacturing countries, including the U.S., Germany, Italy, the UK, and China, which have been badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
- Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Rapid growth in the wood processing industry can be attributed to the high demand for bandsaw machines for woodworking across the world. Another factor that has the potential to drive the bandsaw machines market is the notable growth in the metal cutting industry, resulting in extensive sales of bandsaw machines for metalworking process. Additionally, rapid industrialization in emerging nations and growth in the rubber industry are expected to be potential drivers for the bandsaw machines market in the coming years. However, high maintenance cost and usage of existing power saws can hinder the bandsaw machines market growth. Technological advancements and automation in bandsaw machines can create huge opportunities for the bandsaw machines market over the forecast period.
New technological innovations to flourish the market
As a result of growing automation in the industrial sector, the demand for advanced and cost-effective products is booming gradually. The consequences are creating a huge pressure on the manufacturers to provide customized and advanced technology. Moreover, notable investments in R&D in the manufacturing sector in emerging countries have led to the development of unique technologies that help the manufacturers to differentiate their products from others in the market. Bandsaw machine manufacturers are showing more focus on fully-automated machines based on PLC (programmable logic control) technology, which are being adopted to seek fully-automated processes. Such new technologies are expected to fuel the growth of the bandsaw machines market over the forecast period.
Growth in the furniture industry
The significant positive growth observed in the furniture industry is expected to definitely influence the bandsaw machines market. For instance, according to data released by the Central Statistics Office, India the furniture industry has expanded by 2.8% and in comparison to the previous month of January 2020 it has increased by 9.2%. Among the top production industries, such as basic metal industry, electric & power industry, and mining, the furniture industry had a slower growth rate compared to its previous years, but the productivity and output have been booming gradually, which show positive signs for the investors and businesses that are willing to enter this market.
Key benefits of the report:
- This study represents the analytical representation of the global bandsaw machines market combined with the ongoing trends and future predictions to determine investment opportunities.
- The present market is thoroughly analyzed to enlighten the bandsaw machines market growth.
- The report gives information regarding the important drivers, restraints, and opportunities provided with an in-depth analysis of the global bandsaw machines market.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report gives a comprehensive analysis based on competitiveness and how the performance of the competitors will take shape in the coming years.
Bandsaw Machines Market Report Highlights
By End-use Industry
Key Market Players
MEGA MACHINE CO. LTD., EVERISING MACHINE CO., Prosaw Ltd, Cobra Bandsaw Machines, Cosen Saws, The L.S.Starrett Company Limited, Vishwacon Engineers Private Limited, Multicut Machine Tools, Meba, ITL Industries Limited