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Published by Press release
SAN FRANCISCO, Feb. 24, 2022 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Glass Processing Equipment – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Edition: 8; Released: February 2022
Executive Pool: 13856
Companies: 42 – Players covered include Beijing Hanjiang Automatic Glass Machinery Equipment Co., Ltd.; Benteler International AG; Biesse Group; Bottero S.p.A.; CMS Glass Machinery; Foshan Datuo Glass Machinery Co., Ltd.; Glasstech, Inc.; Glaston Corporation; HEGLA GmbH & Co. KG; Keraglass Industries S.r.l.; LandGlass Technology Co., Ltd.; LISEC Austria GmbH; OCMI-OTG S.p.A.; Shenzhen Handong Glass Machinery Co., Ltd.; Siemens AG; SK Glass Machines (India) Pvt. Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Machine Type (Glass Cutting, Glass Grinding, Glass Breaking, Glass Drilling, Other Machine Types); End-Use (Construction, Automotive, Consumer Electronics, Food & Beverage, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Africa.
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ABSTRACT-
Global Glass Processing Equipment Market to Reach US$2.1 Billion by the Year 2026
As a widely popular packaging material, glass is used to package food, pharmaceuticals, drugs, and beverages. Growth in the global market is set to be driven by factors such as an increase in construction activities and escalating glass packaging demand. Glass has gained traction in the construction industry because of its ability to lower costs and ensure energy efficiency in buildings. As a result, an increasing number of buildings are adopting curtain walls to replace traditional walls. Furthermore, growth in green building activity is driving demand for energy-efficient Low-E glass that helps reduce carbon emissions. Demand for low-cost and energy-efficient glass manufacturing is fueled by organizations around the world promoting and utilizing green construction. Technological advances are widening the range of glass characteristics, particularly in terms of weight and strength. Since the food and beverage sector widely uses glass packaging, the industry boom is also spurring growth in the global glass processing equipment market. The key advantage of using glass packaging is its ability to prevent cross-contamination with products since it does not initiate a chemical reaction. In addition, glass effectively preserves both product freshness and flavor. These benefits along with growing glass use in packaging beer and soft drinks will augment growth in the glass industry, thereby, driving expansion in the global glass processing equipment market. Known for being environmentally friendly, glass is also gaining prominence in manufacturing facilities for safeguarding equipment.
Amid the COVID-19 crisis, the global market for Glass Processing Equipment estimated at US$1.8 Billion in the year 2022, is projected to reach a revised size of US$2.1 Billion by 2026, growing at a CAGR of 4.5% over the analysis period. Glass Cutting, one of the segments analyzed in the report, is projected to grow at a 5.3% CAGR to reach US$832.2 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Glass Grinding segment is readjusted to a revised 4.5% CAGR for the next 7-year period. This segment currently accounts for a 23.1% share of the global Glass Processing Equipment market.
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The U.S. Market is Estimated at $369.7 Million in 2022, While China is Forecast to Reach $533 Million by 2026
The Glass Processing Equipment market in the U.S. is estimated at US$369.7 Million in the year 2022. The country currently accounts for a 20.9% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$533 Million in the year 2026 trailing a CAGR of 5.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.3% and 4.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR while Rest of European market (as defined in the study) will reach US$80.7 Million by the end of the analysis period. Asia-Pacific (including China and Japan) dominates the global glass processing equipment market owing to accelerating investments in several end-user industries along with the increasing adoption of glass processing in many sectors, particularly the construction, automotive and food & beverages industries.
Glass Breaking Segment to Reach $359.4 Million by 2026
In the global Glass Breaking segment, USA, Canada, Japan, China and Europe will drive the 3.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$201.9 Million will reach a projected size of US$263.8 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$64 Million by the year 2026, while Latin America will expand at a 4.4% CAGR through the analysis period. More
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SOURCE Global Industry Analysts, Inc.