LONDON–(BUSINESS WIRE)–Technavio’s latest market research report on the global special purpose machines market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Growth of equipment rental business is a key trend in the global special purpose machines market. This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing.
The top three emerging market trends driving the global special purpose machines market according to Technavio research analysts are:
- 3D printing
- Increasing automation
- Growth of equipment rental business
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3D printing
The manufacturing industry has witnessed the advent of a revolutionary technology known as 3D printing. 3D printing, also known as additive manufacturing, is the process of creating three-dimensional objects using a digital file. The process usually involves building the product in thin layers one by one. 3D printing enables the production of complex geometries that are either arduous or impossible with traditional manufacturing techniques.
Traditional manufacturing techniques are subtractive in nature where the manufacturing takes place by cutting away the excess material. This way approximately 60%-70% of the material ends up as scrap, which is later melted and reused adding up to the cost.
“The additive nature of 3D printing, unlike traditional printing technologies, optimizes the use of materials and therefore minimizes wastage of materials. Replacing the traditional manufacturing techniques with 3D printing will result in significant reduction of capital costs, raw material costs, and costs to reclaim scrap,” says Gaurav Mohindru, a lead analyst at Technavio for engineering tools research.
Increasing automation
The increasing demand for high-quality products has pushed companies to incorporate automation in their manufacturing process. Global process automation is expected to grow at 6%, and the investments are expected to reach USD 120 billion by 2019.
The machine tools industries in the developing and developed countries, especially those in SMEs, are the major users of NC and CNC machines rather than conventional machines. The use of CAD and CAM to design NC and CNC machine components results in an extremely accurate machine that can operate effectively and efficiently. The use of NC and CNC machines not only enhances the quality of the end-product but also reduces the time and human effort.
“Implementing automation increases not only profit margins but also has a positive impact on resource regulation and loss control. Automation in a company’s production or fabrication process increases its competitive edge and reduces operational costs,” says Ishmeet.
Hydraulic fluid power technology is preferred for high-pressure applications. For instance, many of the power shears and guillotine shears are hydraulically powered. However, there are numerous complications associated with the technology, such as the level of accuracy, interfacing, and threat of leakage.
With the advent of electromechanical drive systems, hydraulic cylinders are being increasingly replaced by electric drives in press brakes. The productivity of an electric drive press brake is double than that of a conventional hydraulic press brake. However, the development of electrohydraulic systems has enhanced the features of conventional hydraulic systems with a wider array of functionality options, thus improving the scope for sale of hydraulic cylinders in new markets. Several advantages are offered by electrical systems over hydraulic systems in press brakes, resulting in the growing demand for electrical systems.
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