We found an interesting article on GlobeNewswire from Fortune Business Insights.
June 15, 2020 (GLOBE NEWSWIRE) — The global paper slitting machine market is anticipated to gain traction from the rising initiatives by several organizations to lower energy consumption of the paper slitting machine by surging production capacity and bringing in digitization. This information is given by Fortune Business Insights™ in a recently published report, titled, “Paper Slitting Machine Market Size, Share & Industry Analysis, By Blade Type (Razor Blade, Shear Blade, and Air Score Blade), By Technology (Manual, Semi-Automatic, and Fully Automatic) and Regional Forecast, 2020-2027.” The report further mentions that the paper slitting machine market size was USD 417.4 million in 2019 and is projected to reach USD 548.6 million by 2027, exhibiting a CAGR of 3.5% during the forecast period.
This Report Answers the Following Questions:
- What are the growth drivers and trends of the market?
- How will the companies boost sales of paper slitting machine in the near future?
- Which region would lead the market by generating the highest revenue?
- What is the competitive scenario of the market?
Drivers & Restraints-
Rising Digitization of Production Process to Drive Growth
Several prominent paper slitting machines manufacturers are gradually inclining towards automated solutions to achieve high efficiency and increase productivity. They are conductive extensive research and development activities to refine the entire production process of paper slitting machines. This would help them in reducing the waste generated by these machines, as well as in boosting the output. Therefore, it would lower the expenditure of such manufacturers. Also, the productivity of several manufacturers has surged owing to the digitization of their production process. However, the emergence of the covid-19 pandemic is likely to hamper the paper slitting machine market growth as the governments of many countries have decreased the trade of non-essential products globally.
Segment-
Shear Blade Segment to Gain Maximum Share Owing to Their High Accuracy
In terms of blade type, the market is segregated into air score blade, shear blade, and razor blade. Out of these, the razor blade segment held 31.9% paper slitting machine market share in 2019. The shear blade segment is anticipated to generate the highest share during the forthcoming years backed by its ability to provide high accuracy during the cutting process.
| Source: Fortune Business Insights – Click Here for article
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