Precision Slotting Machine Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

Precision slotting machine is one of the type of slotting machine, which is designed to perform light cuts to give an accurate surface finish. It is light, and is operated at high speeds. It is also known as vertical shaper machine, as the Ram(the tool) attached to it moves in a reciprocating motion. It is used for cutting of woods and metals by shaping them to the desired shape. It is fitted with a Whitworth quick return mechanism. It is majorly used for handling a number of works using a special customized jigs(tools for accuracy). The different parts of these machines are base, column, rotating table, cross slide, and saddle. This tool is used for cutting an irregular shaped workpiece.

Market scope and structure

COVID-19 Scenario Analysis

• The demand for the precision slotting machine is expected to decrease in the year 2020 due to lockdown imposed by the government and low demand from automotive industries.
• COVID-19 pandemic has halted the production of various products in the slotting machine industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of the precision slotting machine market significantly from last few months, as is likely to continue during 2020.
• COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020, and is likely to cause a negative impact on the market growth throughout 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 is 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 its 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

Increasing manufacturing industries across the world is considered as the growth driver for the precision slotting machine market. Increasing demand for various shapes of hard material like metal and wood can drive the market for precision slotting machine as these machine are used in designing and cutting of hard material with an accuracy. Precision slotting machine produces a good surface finish of a workpiece, which acts as a major driver for this market as numerous products in the industries produced should be well-designed with an exterior finish. Further, in the automobile industries, designing of cars various shapes of metal plates can be made through precision slotting machine. It helps in forming regular as well as irregular shapes of the hard materials, which drives the market for precision slotting machine. However, unavailability of skilled labor in some countries for operating the machine can hamper the market. Contrarily, requirement for precision slotting machines in coal industries, automotive industries, jewelry and diamond industries present new pathways for precision slotting machine market. Thus, these tools are in high demand due to its high quality, lightweight, and high operational performance.
The global precision slotting machine market trends are:

New product launches to flourish the market

The launch of new generation technologically advanced products can boost the growth of the market. In the past few years, many such products having unique features were launched in the market. In 2019, Cabe launched a new precision slotting machine ST5 CNC. It has a 5 controlled axis, which allows the automatic management of distance between the machine head and the swivel table. It is featured with latest technology and Fanuc motors for fast operations in cutting. It is ideal for machining the surface of the large workpiece. 

High Demand from Various End Users

Presently, there is a high demand for the precision slotting machines in the furniture industries. In furniture making, precision slotting machine acts as a major tool for designing, cutting, and slotting of woods in the process of production of furniture. Further, precision slotting machines are used in gear teeth manufacturing. It is used in the operational activities like grooving, splines, and keyways. It is used for shaping the internal and external surfaces of a circular shaped product. Moreover, precision slotting machines are used in making of dies and punches. These tools are mostly used in the precise diamond cutting and also in the removal of debris from the jewelry items. Thus, precision slotting machine tools has a high demand in jewelry and diamond factories.

Key Segments Covered

Key Benefits of the Report

• This study presents the analytical depiction of the precision slotting machine market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the precision slotting machine market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the precision slotting machine market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.