The metal cutting machine global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Metal Cutting Machine Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The metal cutting machine market size has grown strongly in recent years. It will grow from $6.52 billion in 2023 to $6.93 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to demand for precision engineering, industrialization and urbanization, rise of mass production, advancements in manufacturing techniques, industrial revolution and machine tools.
The metal cutting machine market size is expected to see strong growth in the next few years. It will grow to $8.87 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to global industrial expansion, precision engineering and micromachining, customization and flexible production, sustainable manufacturing practices, adoption of additive manufacturing. Major trends in the forecast period include high-speed machining and efficiency, advanced cnc technology integration, multi-axis machining advancements, augmented reality (ar) and virtual reality (vr) in machining, focus on sustainability and green technologies.
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Scope Of Metal Cutting Machine Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Metal Cutting Machine Market Overview
Market Drivers –
A growing automotive industry is expected to propel the growth of the metal-cutting machine market going forward. The automotive industry refers to a broad spectrum of businesses engaged in producing, developing, developing, designing, marketing, and distributing motor vehicles, towing vehicles, and mopeds. One crucial aspect that has made machine tools the best for the automotive industry is their capacity to carry out repetitive tasks. The production of components like gasoline injectors calls for extremely high precision. The CNC machines’ primary use is the grinding of camshafts, which is accomplished with computer-aided design. Thus, metal-cutting machines have a huge role in the manufacturing of automobiles. For instance, in March 2022, according to an Economic and Market Report shared by The European Automobile Manufacturers Association, a Belgium-based lobbying and standards group for the automobile industry in the European Union, the total number of cars produced climbed by 2.7% to 63.2 million. Sales of passenger cars in the US increased by 5.5% from 2020 to 11.9 million units last year. In the EU, 1.8 million commercial cars were registered in 2021, an increase of 9.6% over the previous year. EU van sales grew by 8.5% to over 1.6 million units in the previous year. Therefore, the growing automotive industry is driving the growth of the metal cutting machine market.
Market Trends –
Technological advancement is a key trend in the metal cutting machine market. Major market participants for metal cutting machines are focusing their efforts on developing cutting-edge technology to maintain their market share. For instance, in March 2022, Bodor Laser, a US-based manufacturer of metal laser cutting machines, launched its next-generation metal cutting machine, a laser scanning cutting device that eliminates beam reflection while cutting significantly faster and thicker materials (also highly reflective materials). When compared to conventional cutting with the same power and sheet thickness, the scanning cutting speed is increased by 50% to 18% thanks to the cutting-edge beam locus motion control technology. With the use of its beam motion control technology, it can provide a variety of beam locus patterns to cut highly reflective materials without damaging the laser source. The world’s only laser scanning-type machine for the laser metal cutting sector, the Laser Scanning Cutting Machine, is the newest and most inventive product from Bodor.
The metal cutting machine market covered in this report is segmented –
1) By Product: Laser Cutting Machine, Waterjet Cutting Machine, Plasma Cutting Machine, Flame Cutting Machine
2) By Distribution: Online, Offline
3) By End-User: Automobile, Aerospace And Defense, Electronics, Power And Energy, Other End-Users
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Regional Insights –
Asia-Pacific was the largest region in the metal cutting machine market share in 2023. The regions covered in the metal cutting machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the metal cutting machine market report are Trumpf Pvt. Ltd., Amada Co. Ltd., Colfax Corporation, Bystronic Laser AG, Nissan Tanaka Corporation, Lincoln Electric Holdings Inc., Coherent Inc., Komatsu Ltd., Koike Aronson Inc., Flow International Corporation, Omax Corporation, Okuma Corporation, Yamazaki Mazak Corporation, Doosan Machine Tools Co. Ltd., JTEKT Corporation, ESAB Corporation, WARDJet Inc., Prima Power AG, Mazak Optonics Corporation, Salvagnini America Inc., Cincinnati Incorporated, LVD Group NV, MC Machinery Systems Inc., Mitsubishi Electric Corporation, DMG MORI Corporation, Haas Automation Inc., Makino Milling Machine Co. Ltd., Hurco Companies Inc., Chmer EDM Co., Shigiya Machinery Works Ltd.
1. Executive Summary
2. Metal Cutting Machine Market Report Structure
3. Metal Cutting Machine Market Trends And Strategies
4. Metal Cutting Machine Market – Macro Economic Scenario
5. Metal Cutting Machine Market Size And Growth
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27. Metal Cutting Machine Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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