iCrowd Newswire – Jul 13, 2020
The Global Wine Production Machinery Market is estimated to grow at a CAGR of 4.2% during the forecast period 2020-2027. As per the detailed market study, the global wine production machinery industry was valued $2.0 billion in the year 2019 and is anticipated to reach $2.8 billion by the end of the year 2027.
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Wine production process involve various equipment including filtration, crushing & pressing and tanks & fermenters.
The global wine production machinery market is driven by various growth factors such as surge in number of wineries, increase in spending on machinery R&D, technological advancements in machinery and surge in production of wine. However, high maintenance cost and high capital investment act as a barrier to the market growth over the future period. Selection of equipment based upon volume of processing for wine production. The production process includes black grapes, white grapes and such other sources.
Untapped regions also hold opportunities for domestic as well as global market players; such in case of India, where the wine consumption is at lowest amongst BRICS countries and the market is majorly dominated by some of a few players, in which Sula is a major key player along with other domestic companies struggling to gain a chunk of market share. Countries like India and other untapped regions would gain a strong base through FDIs for wine-making expertise, technology, capital and other many solutions. Also, government focus plays a crucial role in the form of excise duties, registration fees, inter-state fees, regulations and unrealistically low trade in the region.
Geographical Overview of the Global Wine Production Machinery Market
The North America wine production machinery market is estimated to grow at a CAGR of 5.2% during the forecast period. The regional market growth is attributed to growth in number of winery plants in the US and increase in wine consumption specially amongst millennial population. On the other hand, the Europe wine production machinery market dominated the global marketplace with more than 3/5th of the market share during the forecast period. The regional market dominance is attributed to rise in investments by wine manufacturers in machinery for improving production and increase in demand from export markets.
Segmentation Overview of the Global Wine Production Machinery Market
The global wine production machinery market is categorized on the basis of type segment. This major market segment is further categorized into:
- Filtration Equipment
- Temperature Control Equipment
- Crushing and Pressing Equipment
- Tanks & Fermenters
The temperature control equipment segment dominated the market in the year 2019 with ~2/5th of the market share in the global marketplace. The same segment is anticipated to dominate during the forecast period. The segment dominance is attributed to the key role of temperature control equipment in wine production coupled with increasing adoption of automated equipment to control and monitor the process. Whereas, the crushing and pressing equipment estimated to grow at the fastest growth rate with the highest CAGR of 4.5% during the forecast period 2020-2027.
Competitive Landscape of the Global Wine Production Machinery Market
Ve Criveller Group, Tanium Machinery, Vitikit Limited, Paul Mueller Company, Adamark Airknife, Northern Brewer, Love Brewing Ltd., Della Toffola Pacific, Agrovin and GW KENT are some major players included in the research study of the global wine production machinery market. Market players are planning to come up with innovative customized solutions to fulfil the demand of target consumers.
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Keywords: Wine Production Machinery Market