According to the global metal cutting machine (MCM) market report by IMARC Group, the market reached a value of US$ 3.4 Billion in 2022, and it is projected to reach a value of US$ 4.6 Billion by 2028, exhibiting a CAGR of 5% during 2023-2028.
Metal cutting machines (MCM) represent power-driven equipment used for changing the workpiece to the needed size and shape by cutting or removing unwanted sections. Laser, waterjet, flame, plasma, etc., are some of the commonly available instruments. These machines are widely utilized for cutting several non-ferrous as well as ferrous metals to produce a finished product of desired geometry. They offer various advantages, including closer dimensional accuracy, complex shaping, enhanced surface texture or finish, etc. Consequently, MCMs find extensive applications in numerous sectors, such as construction, marine, aerospace, electronics, etc.
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Market Trends
The expanding automotive industry across countries is primarily stimulating the metal cutting machine (MCM) market. Moreover, the rising utilization of equipment for manufacturing high-precision, efficient, and effective defense and aerospace components and devices, including ignitors, rotary blades, composites, engine parts, turbines, etc., is acting as another significant growth-inducing factor.
Besides this, the widespread adoption of plasma cutting machines that uses an electrical arc in ionizing and heating the gas to form a plasma used to cut conductive metals, such as stainless steel, aluminum, titanium, copper, etc., is positively influencing the global market. Furthermore, the introduction of advanced metal cutting machines that offer high performance and throughput, thicker cutting ranges, high cutting speed, etc., is also propelling the market growth.
Apart from this, the emerging trend of automation in the manufacturing processes and extensive investments in R&D activities by key market players to increase productivity and meet quality standards are anticipated to fuel the metal cutting machine (MCM) market over the forecasted period.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market
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.
Breakup by Product:
- Laser Cutting Machine
- Waterjet Cutting Machine
- Plasma Cutting Machine
- Flame Cutting Machine
Breakup by Distribution Channel:
- Online
- Offline
Breakup by Application:
- Automobile
- Aerospace and Defense
- Construction
- Marine
- Electronics and Electrical
- Others
Regional Insights:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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