At 4.7% CAGR, Global Glass Processing Equipment Market to Surpass US$ 2.69 Bn By 2026, Forecast Report By Zion Market Research

Global glass processing equipment market valued at USD 1.91 billion in 2019 and is likely to reach USD 2.69 billion by 2026 with a CAGR of 4.7%.

Glass is an age-old packaging material. It has undergone many innovations and reinventions. Glass processing equipment is utilized extensively in many end-user segments like food & beverage, construction, consumer electronics, construction, and many others. Glass processing equipment is majorly used to drill, grind, break, and cut the glass. Glass packaging is widely used for packaging at the global level.

Global Glass Processing Equipment Market: Growth Factors

The global glass processing equipment market is growing significantly with high CAGR during the forecast period due to the increasing construction projects. They are increasingly utilizing the curtain walls as a substitute for traditional walls. Moreover, there is a growing trend for green construction activities. Hence, the green construction includes making use of low e-glasses which are known to be highly energy-efficient and undergo low carbon emissions. Many organizations across the world are promoting green construction. These emerging scenarios are creating demand for more energy-efficient and low-cost glass manufacturing. Technological advancements have further propelled the modifications of attributes of different glasses especially on the basis of strength and weight. However, it has accelerated large-scale applications of glass in the construction sector, and thus the demand for glass is escalated significantly. Glass packaging is widely utilized in the food & beverage sectors and hence the proliferation of the food & beverage sector has boosted the growth of the global glass processing equipment market. The major advantage offered by the glass packing is that it does not get contaminated because glass does not evolve any chemical reaction and thus do intermix with the products. Moreover, it preserves the flavor and freshness of the ingredients inside the package.

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Furthermore, the glass packaging is eco-friendly in nature. Thus manufacturers are rapidly employing different glasses for protecting equipment in the facilities. Some of the common raw materials used in the manufacturing process are soda ash, sand, limestone, and many others.

Global Glass Processing Equipment Market: Segmentation

The global glass processing equipment market can be segmented into type, end-users, and region.

By type, the market can be segmented into glass drilling machines, glass grinding machines, machinery for breaking glass, machinery for cutting glass, and others. The machinery for the cutting glass segment holds hegemony over others.

By end-users, the market can be segmented into consumer electronics & furniture, automotive, construction, food & beverage, and others. The food & beverage segment accounts for the largest share in the global glass processing equipment market.

Global Glass Processing Equipment Market: Regional analysis

Asia Pacific accounts for the largest share in the global glass processing equipment market due to the increasing investments in different end-user industries and the growing use of glass processing particularly in the food & beverage industries. The regional market is growing faster especially in developing economies like China and India. Many small and large manufacturers are participating in the global glass processing equipment market due to the lucrative opportunities arising in the region. The growing technological advancements in the region are attracting foreign direct investment from many end-user industries.

North America is anticipated to grow significantly with high CAGR during the forecast period due to the emergence of prominent players in the region. Europe is also a rapidly developing region in the global market owing to the growth of the construction sector.

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Global Glass Processing Equipment Market: Competitive Players

Many prominent players are undergoing strategic partnerships and acquisitions to expand their market reach. Some of the significant players in the global glass processing equipment market are