Global Faceting Machine Market – Industry Trends and Forecast to 2031

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Global Faceting Machine Market – Industry Trends and Forecast to 2031

  • Semiconductors and Electronics
  • Upcoming Report
  • May 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Faceting Machine Market

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period
2024 –2031
Diagram Market Size (Base Year)
USD 840.00 Million
Diagram Market Size (Forecast Year)
USD 1,230.00 Million
Diagram CAGR
%
Diagram Major Markets Players
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Global Faceting Machine Market, Type (Single Axis and Dual Axis), Machine Type (Manual, Semi-Automatic, and Automatic) - Industry Trends and Forecast to 2031.

Faceting Machine Market

Faceting Machine Market Analysis and Size

Principles of the circular economy are increasingly taking place in the gem faceting industry; today, attention is more drawn towards the recycling and upcycling of gemstones; hence, the demand for faceting machines is rising across the globe. Furthermore, the demand for customized gemstones has been facilitated by peoples’ desire for personalized and bespoke jewelry, attracting more customers to this market.

The global faceting machine market was valued at USD 840 million in 2023 and is expected to reach USD 1,230 million by 2031, registering a CAGR of 4.3% during the forecast period of 2024-2031. Semi-automatic machines significantly sway the gem faceting machine market, with an estimated share of 40.50%. The fact that tips the balance in their favor is their combination of automation and manual control, which proves to be rather handy for manufacturers who look for precision with flexibility. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2024-2031

Base Year

2023

Historic Years

2022 (Customizable 2016-2021)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Type (Single Axis and Dual Axis), Machine Type (Manual, Semi-Automatic, and Automatic)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, and Rest of the Middle East and Africa

Market Players Covered

             

Ultra Tec (U.S.), R.L. Hall & W.P. Hall (U.S.), Jarvi Tool (U.S.)

Graves Gem Machinery (U.S.), Polymetric Incorporated (U.S.), and Facette GemMaster (U.K.)

Market Opportunities

  • Growing demand for precision-cut gemstones
  • Expansion of the jewelry industry

Market Definition

A faceting machine is defined as any device allowing the user to place and polish facets onto a mineral specimen. Machines can range in sophistication from primitive jamb-peg machines to highly refined and expensive, commercially available machines. A major division among machines is found between those that facet diamonds and those that do not. Specialized equipment is required for diamond faceting, and filling the gap between diamond and non-diamond workmanship. A second division can be made between industrial faceting and custom/hobby faceting.

Faceting Machine Market Dynamics

Driver

  • Technological Advancement in Faceting Machine for Cutting Gemstones

Gemstones now incorporate nano-coating technology to make them more durable, scratch-resistant, and shiny. For instance, a layer of the thinnest layer of protective coating at a nanoscale thickness will enable gem cutters to improve the look and life of their gemstone-based jewelry products as demanded by consumers for a long-lasting, low-maintenance product. This is further attracting the customers across the market.

Opportunity

  • Increasing Fashion Trends and Affordability

Imitation jewelry often follows the latest fashion trends & many people look for affordable options to accessorize their outfits, which is further driving demand for imitation jewellery. Imitation jewellery is significantly more affordable than genuine precious metals and gemstones. This affordability makes it accessible to a wide range of consumers, including those on a budget which is further driving the market growth.

Restraint/Challenge

  • Quality Concerns and Counterfeiting

Imitation jewellery often faces criticism for its quality and many consumers may hesitate to purchase imitation jewellery due to concerns about durability and the potential for skin allergies or discoloration. Counterfeit imitation jewellery products flood the market, undermining the reputation of genuine imitation jewellery brands and reducing consumer trust. This can also lead to legal challenges for legitimate manufacturers, which creates challenges for market growth.

 The market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the business intelligence market contact Data Bridge Market Research for an analyst brief, our team will help you take an informed market decision to achieve market growth.

Faceting Machine Market Scope

The market is segmented on the basis of type and machine type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

  • Single Axis
  •  Dual Axis

Machine Type

  • Manual
  • Semi-Automatic
  • Automatic

Faceting Machine Market Region Analysis/Insights

The market is analyzed and market size insights and trends are provided by country, type, and machine type as referenced above.

The countries covered in the report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, and Rest of the Middle East and Africa.

North America is expected to dominate the market due to the growing levels of investment in advanced technologies such as genstones cutting. Moreover, the rising number of e-commerce platforms and the prevalence of improved distribution channels will likely boost the market growth in this region.

Asia-Pacific is anticipated to be the fastest developing region during the forecast period of due to the growing levels of disposable income of the person along with the prevalence of large consumer base in the region

Hybrid Gem Cutting Machines Combine Traditional Craftsmanship with Modern Technology

The market also provides you with a detailed market analysis for every region’s growth for capital equipment, installed base of different kinds of products for the market, the impact of technology using lifeline curves, and changes in battery regulatory scenarios and their impact on the variable frequency drive market. The data is available for the historic period 2015-2021

Competitive Landscape and Faceting Machine Market Share Analysis

The market is analyzed, and market size information is provided by country, type & machine type. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the market

Some of the major players operating in the market are:

  • Ultra Tec (U.S.)
  • R.L. Hall & W.P. Hall (U.S.)
  • Jarvi Tool (U.S.)
  • Graves Gem Machinery (U.S.)
  • Polymetric Incorporated (U.S.)
  • Facette GemMaster (U.K.)


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Research Methodology

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Customization Available

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

Frequently Asked Questions

The faceting machine market size will be worth USD 1,230 million by 2031.
The growth rate of the faceting machine market is 4.3%.
Technological Advancement in Faceting Machine for Cutting Gemstones are the growth drivers of the faceting machine market.
Type and machine type are the factors on which the faceting machine market research is based.
Major companies in the automated fingerprint identification system (AFIS) market are Ultra Tec (U.S.), R.L. Hall & W.P. Hall (U.S.), Jarvi Tool (U.S.), Graves Gem Machinery (U.S.), Polymetric Incorporated (U.S.), and Facette GemMaster (U.K.).