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San Francisco, December 8, 2021/PRNewswire/ - A new market research released by Global Industry Analyst Corporation (GIA) is a leading market research company, today released the title "Glass Processing Equipment-Global Market "Trajectory and Analysis" report. This report presents a new perspective on the opportunities and challenges of major changes in the market after COVID-19.
Factual overview version: 7; Release time: September 2021 Executive pool: 13856 Company: 42-Players covered include Beijing Hanjiang Automatic Glass Machinery Equipment Co., Ltd.; Benteler International Co., Ltd.; Biesse Group; Botero Joint Stock Company; CMS Glass Machinery; Foshan Datuo Glass Machinery Co., Ltd.; Glasstech, Inc.; Glaston Company; HEGLA GmbH & Co. KG; Keraglass Industries Srl; RAND Glass Technology Co., Ltd.; LISEC Austria Co., Ltd.; OCMI -OTG SpA; Shenzhen Handong Glass Machinery Co., Ltd.; Siemens AG; SK Glass Machines (India) Pvt. Co., Ltd., etc. Coverage: All major regions and key market segments Segments: machine types (glass cutting, glass grinding, glass breaking, glass drilling, other machine types); end uses (construction, automotive, consumer electronics, food and beverage, Other end-uses) Region: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; United Kingdom; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Other Asia Pacific; Latin America; Argentina; Brazil; Mexico; the rest of Latin America; the Middle East; Africa.
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By 2026, the global glass processing equipment market will reach $2.1 billion. As a popular packaging material, glass is used to package food, medicine, medicine and beverages. The growth of the global market will be driven by factors such as increased construction activities and growing demand for glass packaging. Glass has gained appeal in the construction industry because of its ability to reduce costs and ensure the energy efficiency of buildings. Therefore, more and more buildings use curtain walls to replace traditional walls. In addition, the growth of green building activities is driving demand for energy-efficient Low-E glass that helps reduce carbon emissions. Organizations around the world that promote and utilize green buildings are driving the demand for low-cost and energy-efficient glass manufacturing. Technological progress is expanding the range of glass properties, especially in terms of weight and strength. Due to the widespread use of glass packaging in the food and beverage industry, the industry boom has also stimulated the growth of the global glass processing equipment market. Glass is known for its environmental protection, and it is also getting more and more attention in the manufacturing facilities of protective equipment.
During the COVID-19 crisis, the global glass processing equipment market is estimated to be USD 1.6 billion in 2020 and is expected to reach a revised USD 2.1 billion by 2026, growing at a compound annual growth rate of 4.5% during the analysis period. Glass cutting is one of the market segments analyzed in the report. It is expected that by the end of the analysis period, the compound annual growth rate will be 5.3%, reaching 832.2 million US dollars. After a thorough analysis of the business impact of the pandemic and the economic crisis it triggered, the growth of the glass grinding business will be readjusted to a revised 4.5% compound annual growth rate over the next 7 years. This segment currently accounts for 23.1% of the global glass processing equipment market.
The U.S. market in 2021 is estimated to be 356.3 million U.S. dollars, while China is expected to reach 533 million U.S. dollars by 2026. The U.S. glass processing equipment market is estimated to be 356.3 million U.S. dollars by 2021. The country currently accounts for 20.9% of the global market. China is the second largest economy in the world, and the market size is expected to reach 533 million U.S. dollars by 2026, with a compound annual growth rate of 5.3% during the entire analysis period. Other notable geographic markets include Japan and Canada, which are expected to grow by 3.3% and 4.2%, respectively, during the analysis period. In Europe, Germany is expected to grow at a compound annual growth rate of approximately 3.6%, while other European markets (as defined in the study) will reach USD 80.7 million by the end of the analysis period. The Asia-Pacific region (including China and Japan) dominates the global glass processing equipment market due to accelerated investment in several end-user industries and the growing popularity of glass processing in many industries, especially the construction, automotive, and food and beverage industries .
By 2026, the glass breaking segment will reach US$359.4 million. In the global glass breaking segment, the United States, Canada, Japan, China and Europe will drive the segment’s expected compound annual growth rate of 3.7%. The total market size of these regional markets in 2020 is 201.9 million U.S. dollars, and by the end of the analysis period, they are expected to reach 263.8 million U.S. dollars. China will remain one of the fastest growing countries in this regional market cluster. Led by countries such as Australia, India, and South Korea, the Asia-Pacific market is expected to reach US$64 million by 2026, while Latin America will grow at a CAGR of 4.4% throughout the analysis period. more
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About Global Industry Analysts, Inc. and StrategyR™ Global Industry Analysts, Inc. (www.strategyr.com) is a well-known market research publisher and the only influence-driven market research company in the world. GIA proudly serves more than 42,000 customers from 36 countries/regions. For more than 33 years, GIA has been known for accurately predicting markets and industries.
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Source: Global Industry Analysts, Inc.
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