MRC Announces the Publication of its Research Report – Global Stone Processing Machines Market 2017-2021
MRC recognizes the following companies as the key players in the global stone processing machines market: Biesse Group, Breton, DONATONI MACCHINE, SCM Group.
Other Prominent Vendors in the market are: Gaspari Menotti, Prussiani Engineering, Thibaut, and Yonani Industries.
Commenting on the report, an analyst from MRC’s team said: “One trend in the market is innovation in stone processing machines. Technological advances help create better stone processing machines as they are manufactured with more precision, quality, and speed. Various stone processing machine manufacturers are investing in R&D to offer innovative products to various end-users, thereby spurring the demand for stone processing machines globally.”
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According to the report, one driver in the market is growing preference for natural stone. Most residential and commercial building owners have shied away from using synthetic building materials to reduce carbon footprint. This has led to the growth in demand for natural stones, such as marble and granite, in commercial and residential construction projects. It is expected that the number of commercial buildings, such as office space, hotels, hospitals, and recreation centers, is likely to grow significantly during the forecast period. Similarly, the rise in new residential construction projects, driven by eco-conscious millennials that prefer natural stones to synthetic stones, is expected to drive the demand for stone processing machines.
Further, the report states that one challenge in the market is shortage of skilled labor and increasing labor cost. Granite processing or marble processing requires skilled manpower as understanding the patterns and joints present in stones is of crucial importance. Developing countries, such as India, are witnessing the shortage of skilled labor. As per the Government of India's survey, in 2017, the present skilled workforce constituted only 2% of the overall workforce in the country. The lack of skilled manpower will eventually lead to increased labor costs, thereby increasing the cost of production in the stone processing sector. In addition, the shortage of skilled labor will result in low manpower productivity.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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