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The special purpose machines market share is expected to increase to USD 2.51 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.76%.
This special purpose machines market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers special purpose machines market segmentation by end-user (OEMs and machine shops) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The special purpose machines market report also offers information on several market vendors, including Balief Corp., Batliboi Ltd., DMG MORI Co. Ltd., Electronica India Ltd., EMAG GmbH and Co. KG, ETA Technology Pvt. Ltd., FIVES SAS, GARUD AUTOMATION, General Technology Group Dalian Machine Tool Corp., Global CNC Pvt. Ltd., Hann Kuen Machinery and Hardware Co. Ltd., HMT Ltd., Invensys Engineers, Krishna Engineering, Mitsubishi Heavy Industries Ltd., Neumatica Technologies Pvt Ltd., NEYRET GROUP, Shenoy Engineering Pvt. Ltd., Vee Technologies Pvt. Ltd., and Yamazaki Mazak Corp. among others.
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The increasing demand for fabricated metal products is notably driving the special purpose machines market growth, although factors such as high initial cost of implementation may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the special purpose machines industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Special Purpose Machines Market Driver
One of the key factors driving the global special purpose machines industry growth is the increasing demand for fabricated metal products. The demand for fabricated metals is increasing in the automotive industry, transport machinery, ammunition, fasteners, and building products and machinery. For example, Mexico, Canada, and China rely heavily on the supply of fabricated metals from the US. There are about 55,000 companies in the US fabricated metal products manufacturing sector, including specialty segment companies, such as Flowserve Corp., The Timken Co., Snap-On Inc., and Mueller Industries Co. Schaeffler Technologies in Germany, Toyo Seikan Kaisha in Japan, and Jiangsu Guotai International in China are some other major companies in the global market. Such factors will drive the growth of the market in focus during the forecast period.
Key Special Purpose Machines Market Trend
Advent of 3D printing, to optimize materials use and therefore minimize the wastage of materials, is one of the key special purpose machines market trends that is expected to impact the industry positively in the forecast period. In traditional manufacturing techniques, approximately 60%-70% of the material ends up as scrap, which is later melted and reused, adding up to the cost. 3D printing has resulted in a significant reduction of capital costs, raw material costs, and costs to reclaim scrap. The improvements in the 3D printing technology and their increased adoption will lead to a complete shift in the way manufacturing is done, which will further fuel the growth of the market in focus in the forecast years.
Key Special Purpose Machines Market Challenge
One of the key challenges to the global special purpose machines industry growth is the high initial cost of implementation due to need for high-pressure pumps, cutting tables, and automated systems. Special purpose machines provide a better ROI and prove economical only when a large production volume is delivered. However, in the case of SMEs, the production cycle is limited. Therefore, the high equipment cost per part negatively affects their profitability in the short run. It is estimated that garnet abrasive accounts for close to 45%-50% of the operating cost per hour, followed by replacement and maintenance. During the waterjet cutting process, water at 40,000 psi-55,000 psi accelerates through a diamond orifice. At such a high pressure, the orifice and seals wear out, and they need frequent replacement. Such factors may hamper the market growth in the forecast years.
This special purpose machines market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global special purpose machines market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the special purpose machines market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the special purpose machines market encompasses successful business strategies deployed by the key vendors. The special purpose machines market is fragmented and the vendors are deploying growth strategies such as technological innovation to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The special purpose machines market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the special purpose machines market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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48% of the market's growth will originate from APAC during the forecast period. China, Japan, and South Korea are the key markets for special purpose machines in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The significant increase in the demand for cutting tools in APAC owing to the increasing number of construction activities in emerging countries, such as China and India, and the rising government spending on the development of infrastructure will facilitate the special purpose machines market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The special purpose machines market in the region witnessed certain challenges in 2020 owing to the outbreak of COVID-19. India, China, Pakistan, and Bangladesh were some of the most affected countries by the pandemic in the region. However, in 2021, the launch of COVID-19 vaccines and the ease of lockdown measures led various industries to resume their operations. Thus, the regional market has been on a recovery path since Q3 2021. Moreover, the rapid growth of the manufacturing industry across APAC is expected to fuel the regional market growth during the forecast period.
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The special purpose machines market share growth by the OEMs segment will be significant during the forecast period. The automotive industry is the primary end-user of various special purpose machines. OEMs prefer to undertake complex and important machining operations, such as in-house precision machining to ensure quality and hence deliver advanced finished products. This will drive the segment growth in the forecast years.
This report provides an accurate prediction of the contribution of all the segments to the growth of the special purpose machines market size and actionable market insights on post COVID-19 impact on each segment.
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Special Purpose Machines Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.76% |
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Market growth 2022-2026 |
$ 2.51 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
6.3 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 48% |
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Key consumer countries |
US, China, Japan, South Korea, Germany, and France |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Balief Corp., Batliboi Ltd., DMG MORI Co. Ltd., Electronica India Ltd., EMAG GmbH and Co. KG, ETA Technology Pvt. Ltd., FIVES SAS, GARUD AUTOMATION, General Technology Group Dalian Machine Tool Corp., Global CNC Pvt. Ltd., Hann Kuen Machinery and Hardware Co. Ltd., HMT Ltd., Invensys Engineers, Krishna Engineering, Mitsubishi Heavy Industries Ltd., Neumatica Technologies Pvt Ltd., NEYRET GROUP, Shenoy Engineering Pvt. Ltd., Vee Technologies Pvt. Ltd., and Yamazaki Mazak Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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