Metal cutting machine produces parts by removing material from workpiece with the help of cutting tool and machine tools. Common cutting processes includes sawing, broaching, grinding, drilling, turning, and shaping. It provides various advantages to the finished products such as closer dimensional accuracy, surface texture or finish, complex shaping, and required size. The metal cutting machine used for manufacturing components in various industries including automotive, aerospace, defense, electronics, construction, electrical, shipbuilding and other heavy equipments.
The shipbuilding industry plays significant role for the regional industrial infrastructure. The cutting machines such as plasma and flame/oxy-fuel is extensively used by the most of the industry players for ship fabrication and ship repair equipment. The shipbuilding industry consists of patrol boats, aircraft carriers, tankers, luxury liners, tugs, barges, large seagoing vessels for containers and other cargo ships.
The metal cutting machines market has witnessed several global developments, that includes key innovations in the past few years. Nowadays, electromechanical machining process is carried out as a replacement for traditional metal cutting tools. The process was about aluminum cutting process employed in Tesla Motors, California. The key industry players are anticipated to emphasize on metal 3D printing over the forecast period.
In U.S., waterjet cutting machine segment was valued at USD 102.4 million in 2016 and is expected to be valued at USD 170.4 million by 2025, growing at an estimated CAGR of 5.9% from 2017 to 2025. Waterjet cutting machine is used in the manufacturing of various industry components. Robust growth in application industries is anticipated to fuel the demand for waterjet cutting machine in the U.S. over the years ahead.
In terms of revenue, Asia Pacific expected to witness fastest growth rate with a CAGR of 6.7% between 2017 and 2025. Asia Pacific presents significant opportunities for aerospace manufacturers, maintenance, repair & overhaul, general aviation, and military equipment manufacturers. In addition, rapid economic developments in India is expected to fuel the product demand in the coming years.
Bystronic Laser AG, TRUMPF GmbH + Co. KG, Koike Aronson, Inc., Colfax Corporation, Nissan Tanaka Corporation, DANOBATGROUP, Lincoln Electric Holdings, Inc., Dalian Machine Tool Group Corporation, Water Jet Sweden AB, and Messer Cutting Systems India Private Limited. are some of the key industry players that are engaged in the R&D and manufacturing of highly efficient metal cutting machines.
In-depth report on global metal cutting machine market by Grand View Research:
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