Metal Cutting Machine Market To Reach $8.80 Billion By 2030

Metal Cutting Machine Market Growth & Trends

The global metal cutting machine market size is anticipated to reach USD 8.80 billion by 2030, growing at CAGR of 5.2% over the forecast period, according to a new report by Grand View Research, Inc. The ongoing developments in digital technology, especially in embedded systems, have translated into lower operational costs for machines and less labor interference in metalworking for real-time applications. Sheet metal cutting is essential in many industries such as construction, automotive, electronics, shipbuilding, and aerospace. The growth of the above-mentioned industries is expected to drive the demand for metal cutting machines over the forecast period.

The increasing implementation of industry 4.0 technologies such as the Internet of Things (IoT), data analytics, and automation, is maximizing the productivity of laser-cutting machines through real-time data exchange, which enables optimum production. Manufacturers aim to improve production, decrease downtime, and operate cost-efficiency, which is likely to positively influence the metal-cutting machine industry's growth. For instance, in September 2021, TRUMPF launched a 2D laser cutting machine for beginners. The new product, TruLaser Series 1000, comes with process stability, more productivity, and cost-effectiveness.

Metal cutting machines are widely used in various sectors to cut various types of ferrous and nonferrous metals to produce final products with the desired geometry. By eliminating material from the workpiece with the aid of cutting instruments and machine tools, it creates desired pieces. Sawing, broaching, grinding, drilling, turning, and shaping are examples of common cutting techniques. It offers the finished goods a number of benefits, including greater dimensional accuracy, surface texture or finish, complex shape, and needed size. Over the forecast period, rising demand for sophisticated mechanized metal-cutting machines is anticipated to drive market expansion.

The increasing number of services provided by firms in North America, Europe is expected to fuel the demand for office spaces, thereby driving commercial construction. In addition, the improved condition of domestic manufacturing activities in Canada is expected to augment the development of industrial buildings. Growing construction activities are anticipated to increase the demand for metal-cutting cutting machines in the construction industry over the forecast period.

Metal-cutting machine manufacturers are seeking collaborations, mergers, and acquisitions to develop advanced and innovative solutions. In addition, manufacturers are also adopting several strategies like new product development, and geographical expansion, to enhance their market penetration and cater to end-use industries. For instance, in March 2023, TRUMPF launched a new laser-blanking solution for metal cutting. The new TruLaser 8000 Coil Edition can process around 25 tons of wound sheets without human input. The machine can save nearly 1,700 metric tons of metal waste annually compared to conventional laser-cutting machines.

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Metal Cutting Machine Market Report Highlights

• The laser cutting machine product segment dominated with the largest market share of over 62.2% in 2022. The growth of this segment can be attributed to the benefits of the product such as excellent power efficiency and higher precision than mechanical cutting

• The automotive application segment dominated and accounted for a 26.5% share of the global revenue in 2022. The automotive industry uses metal cutting machines extensively to cut various interior and exterior components of SUVs, and passenger cars

• Asia Pacific accounted for 45.6% of the global revenue share in 2022. The region presents significant opportunities for aerospace manufacturers, maintenance, repair & overhaul, general aviation, and military equipment manufacturers. In addition, rapid economic developments in countries such as China, and India are expected to fuel the product demand in the coming years

• In March 2023, ESAB Corporation acquired Swift-Cut, an England-based manufacturer of light industrial CNC plasma and waterjet cutting machines

Metal Cutting Machine Market Segmentation

Grand View Research has segmented the global metal cutting machine market based on product, application, and region:

Metal Cutting Machine Product Outlook (Revenue, USD Million, 2018 - 2030)

• Laser Cutting Machine

• Waterjet Cutting Machine

• Plasma Cutting Machine

• Flame Cutting Machine

Metal Cutting Machine Application Outlook (Revenue, USD Million, 2018 - 2030)

• Automotive

• Defense & Aerospace

• Construction

• Marine

• Electrical & Electronics

• Others

Metal Cutting Machine Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • France

  • Italy

  • UK

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • Israel

  • South Africa

List of Key Players in the Metal Cutting Machine Market

• TRUMPF

• AMADA Co. Ltd.

• ESAB Corporation

• Bystronic Laser AG

• WARDJet

• Koike Aronson, Inc.

• Nissan Tanaka Corporation

• Lincoln Electric Company

• Water Jet Sweden AB

• Flow International Corporation

• Coherent Corp.

• Messer Cutting Systems GmbH

• Omax Corporation

• Boye Laser ApplieTechnologygy Co., Ltd.

• Han's Laser Technology Industry Group Co., Ltd.