According to a new report published by Allied Market Research, titled, “Global Blanking Machine Market by Product Type, Material, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global blanking machine market size was valued at $0.92 billion in 2020, and is expected to reach $1.45 billion by 2030, with a CAGR of 4.2% from 2021 to 2030. In 2020, Asia-Pacific dominated the market, in terms of revenue, accounting for around 45.10% share of the global market.
Developments in automotive, aerospace, and defense sectors and economic growth drive the growth of the market. However, fluctuation in raw material prices is anticipated to hamper the growth of the global blanking machine.
Blanking machines are used for cutting or blanking relatively soft delicate materials such as paper, metal, and fabric. They can be also used to cut hard materials such as sponge, function films, plywood, and rubber. Blanking machine is adopted in machining operations, owing to precision control, smooth machining operation, maintain balance, and avoid positioning error. These factors fuel the blanking machine market growth.
Major players such as Precision Surfacing Solutions, Komori Corporation, and others launched new blanking machine to the market. For instance, in January 2020, Komori Corporation has developed new auto pile turner Apressia AT120H at a private show in Japan. It is best suitable for blanking machines. It has a maximum stack height of 2,000 mm. It has pallet clamp function that enables pallet and paper centering option. It has features such as easy touch panel operation, sound safety measures, and machine support.
Various manufacturers in the blanking machine manufacturers had to shut down their businesses activities due to the lockdown initiated in countries such as UAE, India, Brazil, and others. This break has directly impacted the sales of blanking machine manufacturing companies globally. For instance, the net sales of AMADA Co Ltd dropped by 19.8% from March 2020 to March 2021. In addition, lack of raw materials, disruption in supply chain, and lack of man power halted the supply chain of blanking machine products. However, the re-initiation of the blanking machine industry and availability of vaccines for coronavirus disease are projected to lead to the opening of the global blanking machine at their full-scale capacities.
The blanking machine market is segmented on the basis of product type, material, end user, and region. On the basis of product type, the market is divided into hydraulic, pneumatic, and mechanical. Mechanical segment generated the highest revenue in 2020. On the basis of material, the market is classified into steel, aluminum, alloy, and others. Steel segment dominated the market in 2020. On the basis of end user, the market is categorized into automobile industry, aerospace industry, home applications, and others. Automobile segment generated the highest revenue in 2020.
Region wise, the global blanking machine market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Asia-Pacific was the highest contributor to the global blanking machine market share, and is anticipated to secure a leading position during the forecast period.
Key Findings Of The Study
- By product type, mechanical segment was the largest revenue generator in 2020.
- By material, steel segment generated the highest revenue in 2020.
- By end user, the automobile accounted for the highest revenue in 2020.
- By region, Asia-Pacific is anticipated to dominate the global blanking machine throughout the study period.