The global metal cutting machine market is valued at US$ 7.7 billion in 2023 and is predicted to expand at a CAGR of 6% from 2023 to 2033.
Metal cutting machines are in great demand, due to factors such as the rising adoption of Industry 4.0 systems, the growing need for automatic metal cutting technologies, and the rapidly developing worldwide building and construction industry. Another important factor driving the sales of metal cutting machines is the rising growth of metal additive manufacturing.
As the same setup may be used to cut a variety of shapes and material thicknesses, laser cutting machines do not require tool changes for each cutting task. Moreover, these metal cutting machines make intricate cuts with ease. Precision is a key benefit of laser cutting machines over other cutting technologies. Thus, all such factors are boosting the demand for laser cutting machines across the world.
Key Takeaways from Market Study
- Worldwide sales of metal cutting machines are expected to reach US$ 13.7 billion by 2033.
- Metal cutting machines are widely used in the production of aerospace & defense products in the United States.
- The presence of key market players in Germany is aiding market growth.
- Demand for waterjet cutting machines is expected to increase at a healthy pace during the forecast period due to their high productivity rates.
“Use of metal cutting machines increasing rapidly in construction industry due to high need for perfect metal fabrication and cutting,” says a Fact.MR analyst.
Recent Market Developments
- Star Micronics Co., Ltd. introduced the SX-38, a highly functional big diameter (38 mm) model, in September 2019. It is an automatic Swiss-style lathe made specifically for industrial operations in the automobile, aerospace, and healthcare industries.
- In June 2022, Milwaukee Tools launched its cutting-edge wrecker with a NITRUS CARBIDE SAWZALL Blade. The tool is made to work more efficiently on various metals and is perfect for use on construction sites during demolition and remodelling projects.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global metal cutting machine market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on product (laser cutting machines, waterjet cutting machines, plasma cutting machines, flame cutting machines), application (automotive, fabrication & industrial machinery manufacturing, marine, aerospace & defense, construction), and distribution channel (online, offline), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
These insights are based on a report on Metal Cutting Machine Market by Fact.MR.
