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Overview of the global stone processing machines market
Various companies are investing heavily for the construction of office buildings, data centers, universities and malls and have increased the demand for stones in construction sector. This has led to upsurge in demand for stone processing process. Technavio’s market research report has identified growth in construction sector as one of the primary factors that will fuel the growth of the stone processing machines market in the coming years. Several emerging construction projects will drive the market positively. Owing to the increasing demand for smart cities in the developing economies, the stone processing machinery market is set to witness huge growth during the forecast period. Our market research analysts estimate that this market will grow steadily at a CAGR close to 5% by 2021.
Green building concept is one of the key trends contributing towards the stone processing machines market. Several companies across the world is demanding for the construction of green buildings which is increasing the demand for natural stones which are earth-friendly. Natural stones exhibits several features like enduring life-cycle, durability, easy maintenance, and recyclability. Green buildings use natural stones for flooring and the natural stones attributes embodied energy, high thermal capacity, increased durability, and easy availability.
Competitive landscape and key vendors
The stone processing machine market is fragmented due to the presence of few established players, regional players, and local players. To sustain the competitive environment, the vendors in the market are focusing on product launches, expansions, and strategic acquisitions. Moreover, the vendors are trying to expand their geographic presence to remain competitive in the stone processing machinery market.
The leading vendors in the market are-
The other prominent vendors in the market are Gaspari Menotti, Prussiani Engineering, Thibaut, and Yonani Industries
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Segmentation by end-user type and analysis of the stone processing machines market
During 2016, the commercial building segment accounted for the major shares of the stone processing machine market. Owing to the increasing investments by the companies, the construction sector is witnessing healthy growth. Moreover, emerging economies such as China and India are investing heavily in smart cities, which will trigger the growth of the stone processing machinery market in the next five years.
Segmentation by geography and analysis of the stone processing machines market
This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the stone processing machine market throughout the forecast period. Owing to the increasing investment in the development of commercial and residential sector, this region is set to witness humungous growth in the stone processing machinery market during the forecast period.
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Key questions answered in the report include
What will the market size and the growth rate be in 2021?
What are the key factors driving the global stone processing machines market?
What are the key market trends impacting the growth of the global stone processing machines market?
What are the challenges to global stone processing machines market growth?
Who are the key vendors in the market?
What are the market opportunities and threats faced by the vendors in the global stone processing machines market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global stone processing machines market?
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