As per the latest report by IMARC Group, titled "Metal Cutting Machine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global metal cutting machine market size reached US$ 3.4 Billion in 2022. Metal cutting machines (MCM) are power-driven equipment that shapes and resizes a workpiece by removing unwanted sections. They employ various methods, such as laser, waterjet, flame, and plasma cutting, to effectively process ferrous and non-ferrous metals into finished products of the desired shape and size. They offer umpteen advantages, including precise dimensional accuracy and the ability to create complex shapes and achieve the desired surface texture or finish. As a result, they are extensively used in several industries, including automotive, construction, marine, aerospace, and electronics, where the production of high-quality and accurately sized metal components is necessary.
Global Metal Cutting Machine Market Trends:
The rapidly expanding automotive industry is one of the primary factors creating a positive outlook for the market. This is further supported by the increasing awareness regarding the advantages of MCMs, such as manufacturing efficiency and high precision. Moreover, the rising utilization of plasma cutting machines and the introduction of advanced product variants that offer increased performance and throughput, thicker cutting ranges, and higher cutting speeds are providing an impetus to the market growth. In line with this, key market players are introducing automation into their manufacturing processes to increase productivity and meet quality standards, which, in turn, is boosting the market growth. Furthermore, extensive research and development (R&D) activities and the widespread product utilization in the electronics and electrical industry to cut springs, capacitors, motherboards, and circuit boards are anticipated to drive the market growth. Looking forward, the market value is projected to reach US$ 4.6 Billion by 2028, expanding at a CAGR of 5% during 2023-2028.
- By the product, the market is divided into laser cutting, waterjet cutting, plasma cutting, and flame cutting machines.
- On the basis of the distribution channel, the market is bifurcated into online and offline.
- Based on the application, the market is segregated into automobile, aerospace and defense, construction, marine, electronics and electrical, and others.
- By the region, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined with some of the key players being Amada Co. Ltd., Boye Laser Applied Technology Co. Ltd., Bystronic AG, Coherent Inc. (II-VI Incorporated), Eurolaser GmbH, Flow International Corporation, Han’s Laser Technology Industry Group Co. Ltd., Koike Aronson Inc. (Koike Sanso Kogyo Co. Ltd.), Komatsu America Industries LLC, Messer Cutting Systems Inc., Nissan Tanaka Corporation, TRUMPF Group and Water Jet Sweden AB.
|Base Year of the Analysis
||Product, Distribution Channel, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Amada Co. Ltd., Boye Laser Applied Technology Co. Ltd., Bystronic AG, Coherent Inc. (II-VI Incorporated), Eurolaser GmbH, Flow International Corporation, Han’s Laser Technology Industry Group Co. Ltd., Koike Aronson Inc. (Koike Sanso Kogyo Co. Ltd.), Komatsu America Industries LLC, Messer Cutting Systems Inc., Nissan Tanaka Corporation, TRUMPF Group and Water Jet Sweden AB.
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