Stringent Government Regulations and Uncertainty in the Global Trade to Hinder Growth
The recent outbreak of COVID-19 pandemic is anticipated to hamper the market growth over the coming years. The governments have reduced the global trade of non-essential products, thus limiting the sale of these machines across the regions or countries. Owing to the increasing spread of COVID-19, the governments are imposing stringent lockdowns in countries, which is slowing the overall economic conditions. This has impacted the new purchase decisions of organizations, thus hampering the paper slitting machine market growth.
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.
Fortune Business Insights™ provides a list of all the paper slitting machine manufacturers operating in the market. They are as follows:
• Parkland Machines Ltd (England)
• ASHE Converting Equipment (England)
• SOMA (Czech Republic)
• ATLAS CONVERTING EQUIPMENT LT (United Kingdom)
• GOEBEL Schneid und Wickelsysteme GmbH (Germany)
• Kampf Schneid- und Wickeltechnik GmbH & Co. KG (Germany)
• Euromac S.r.l. (Italy)
• Parkinson Technologies, Inc (United States)
• Pasquato cutting machines (ITALY)
• Universal Converting Equipment (United Kingdom)
Key Companies Aim to Increase Sales by Providing Innovative Technologies
Reputed companies present in the market are enhancing their research and development activities by investing huge sums. They are striving to equip the paper slitting machines with unique technologies. Below are two of the latest industry developments:
• October 2019: Atlas Converting Equipment Ltd. unveiled ER610-DT, its next generation compact turret slitter rewinder. It is capable of processing web widths up to 1650mm. It has a speed of 600m/min.
• April 2018: GOEBEL IMS announced the expansion of its service portfolio by opening MyLab. It is the company’s latest 800sqm customer innovation and application centre to serve their clients efficiently.
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