According to a research report released by Transparency Market Research, the global ultra-hard cutting machine market was valued at US$730.0 mn in 2015 and is expected to reach US$1.81 bn by the end of 2024, with its revenue expected to expand at a CAGR of 10.8% within a forecast period from 2016 to 2024.

The three key players in the global ultra-hard material cutting machines market for 2015 were Machinery Systems, Inc., DMG Mori Co., Ltd., and GF Machining Solutions. Their collective share in the market at the time was 43.3% of the total market value. With a majority of the global ultra-hard material cutting machines market run by regional manufacturers, the market is known to be locked in mixed type of competitiveness.

Transparency Market Research said the global ultra-hard material cutting machines market is currently lacking in the overall competitiveness needed to cut down sales prices of these advanced cutting machines. Over time, the intensity of rivalry among all players is expected to heighten, allowing for a greater scope of competitive pricing that will favor a greater rate demand. The threat from new entrants, however, is expected to remain fairly low over the coming years, owing to the steep capital required to establish oneself in the global ultra-hard material cutting machines market.

Product superiority spurs demand for ultra-hard material cutting machines

"The global ultra-hard material cutting machines market is primarily driven by the growing demand for semiconductor substrates built from synthetic diamonds. The niche physical properties of synthetic diamonds are can impart better transform thermal management thereby allowing semiconductor design engineers to evolve from the conventional difficulties of power-density and reliability issues in the creation of smaller footprints," states a TMR analyst.

Furthermore, the applications of ultra-hard material cutting machines are growing across wider range of industries, such as mining, defense, and semiconductors and electronics. This has been possible due to the incorporation of the latest technologies such as fiber lasers into the ultra-hard cutting machine. Fiber laser technologies are known to be about 30 times quicker than electrical discharge machines and are expected to find exceptionally high preference once their price comes down through product development and added market competition.