The global ultra-hard material cutting machines market was valued at $730 million in 2015, according to a research report released by Transparency Market Research, and is expected to reach $1.81 billion by 2024.

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

Transparency Market Research is a provider of syndicated research, customized research and consulting services.