Special Purpose Machines Market: Global Opportunity Analysis and Industry Forecast, 2023-2030 Market

Special purpose machines are machines that are not available for regular sale or purchase. These machines are not produced as per standard manufacturing programs. They are only designed and customized based on consumer’s requirements. They have high productivity, low cost of production, and low investment when compared with conventional manufacturing machines. These machines are designed using special tools and fixtures to produce similar parts whenever required. Special purpose machines are made up of sensors, limit switches, automatic job clamping, and logic controls. They are generally used for large-scale production of small parts of automobiles such as clutch sleeves, shifter forks, shifter cam, and more.

COVID-19 scenario analysis:

• COVID-19 pandemic has shut-down the production of various products in the special purpose machines industry, mainly owing to prolonged lockdown in major global countries. This has hampered the growth of the special purpose 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

The rising demand for fabricated metal products from industries, such as automotive, transportation, construction, and others, is one of the key factors driving the growth of the special purpose machines market in the near future. Moreover, growth in the automotive industry and construction industry in different countries can drive the market growth. Moreover, technological advancements in the automotive sector are expected to provide lucrative opportunities for the special purpose machines market in the coming years. However, manufacturers sticking to traditional CNC machines is a factor that can hamper the growth of the special purpose machines market.

Emerging technological advancements to boost the market

The manufacturing industry has experienced several advanced technologies recently. One of the prominent fast-growing technologies among these is 3D printing technology. 3D printing, also called additive manufacturing, is a technique of producing three-dimensional products using a digital file. The manufacturing of the product is done in a layer by layer process. As manufacturing of special purpose machines involves designing and creating complex geometries, the 3D printing technology enables the production of complex geometries that are impossible or difficult to produce with conventional techniques. In addition, this technology is a cost-effective way of manufacturing as additional labor is not required. Such new advanced technologies can provide lucrative growth opportunities for the special purpose machines market during the forecast period.

Rapid industrial activity and manufacturing in different countries

Laser welding machines hold major applications in the automotive industry. These machines are used to weld components such as transmission parts, engine parts, solenoids, alternators, fuel filters, air conditioning equipment, and more. According to statistics provided by the International Organization of Motor Vehicles Manufacturers, China and Japan were the largest producers of automobiles in 2018. Exact figures show that China, the largest producer of automobile in the world, manufactured 23,529,423 vehicles, whereas Japan being the second-largest producer of automobiles in the world, manufactured 8,358,220 vehicles. Large vehicle production in countries of Asia can ensure a promising positive growth in the coming years, thereby providing lucrative growth opportunities for the laser welding machine market.

Key benefits of the report:

• This study represents the analytical representation of the global special purpose machines market combined with the ongoing trends and future predictions to determine investment opportunities.
• The present market is thoroughly analyzed to enlighten the special purpose machines market growth.
• The report gives information regarding the important drivers, restraints, and opportunities provided with an in-depth analysis of the global special purpose 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.

 Special Purpose Machines Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights