Technavio predicts top three trends to affect global shearing machine market

Technavio’s latest report on the global shearing machine market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. The London-based global technology research and advisory company defines an emerging trend as a factor that has the potential to affect the market significantly and contribute to its growth or decline.

The research study provides a detailed industry analysis based on the product (bench shears, guillotine shears, alligator shears, throatless shears, and power shears) and geography (APAC, EMEA, and the Americas).

The firm’s analysts predict the global shearing machine market size to grow to $1.05 billion by 2021 at a CAGR of close to 3 percent over the forecast period.

Technavio predicts the top three emerging trends driving the global shearing machine market through 2021 will be additive manufacturing, increased automation, and replacement of hydraulic applications with fully electrical systems.

Additive manufacturing is expected to lead to a complete shift in manufacturing processes, thereby creating a demand for shearing machines. Automation of process results in the creation of more precise metal parts, thereby driving the growth of the shearing machines market, the research firm reports. Finally, electrical systems offer several advantages that will result in increased demand for these products.