Metal cutting machines are used to cut metal frames in various sizes and shape. These machines use various compounds, such as CO2 and fibers to cut the tough metals. Various types of metal cutting machines available in the market include laser cutting machine, waterjet cutting machine, plasma cutting machine, and flame cutting machine. Laser cutting machines are extensively used for industrial manufacturing applications to produce high-quality surface finish objects. Laser cutting machines are widely used in shipbuilding and aerospace manufacturing processes. Apart from the automotive industry, these machines are extensively used in the marine industry for ship repairing and fabrication of equipment. It consist of cargo ships, large vessels, air craft carriers, patrol boats, luxury liners, oil tankers etc.
The metal cutting machine market is expected to expand at a considerable pace in the near future. Growth in various industries, such as automotive industry is anticipated to drive the metal cutting machine market. Increase in demand for passenger vehicles due to the rise in income in the middle-class society in emerging economies is anticipated to increase sales of metal cutting machines. Additionally, surge in technological advancement is also expected to propel the demand for high-quality metal cutting devices across a number of industries.
Increase in global production of consumer electronics, rise in investments in the aerospace and defense sectors, and surge in launch of new products in the global market are also expected to drive the global metal cutting machine market in the near future. However, restraints, such as high power consumption, material cost of the products are likely to inhibit the metal cutting machine market. Additionally, waterjet metal cutting machines take longer time to cut the metals as compared to traditional metal cutting machines, which is likely to hamper the market. However, increase in advancement in metal cutting technologies in developed and emerging regions is anticipated to boost the metal cutting machine market.
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One of the key trends in the metal cutting machine market is increase demand for additive manufacturing. Additive manufacturing helps create three-dimensional objects using a digital file. Additive manufacturing usually involves manufacturing of a product layer by layer. 3D printing in aerospace and automotive industries helps in production of difficult geometries that are either hard or impossible with traditional manufacturing techniques. Replacement of traditional manufacturing techniques with 3D printing is projected to significantly reduce capital and raw material costs, and costs to reclaim scrap in the next few years. Additionally, growth of several industries, such as auto and auto component worldwide is anticipated to propel the metal cutting machine during the forecast period.
The global metal cutting machine market can be segmented based on product type, application, and region. In terms of product type, the market can be divided into laser cutting machines, waterjet cutting machines, plasma cutting machines, and flame cutting machines. Based on application, the metal cutting machine market can be segregated into automobile, aerospace & defense, construction, marine, electronics & electrical, and others. In terms of region, the global metal cutting machine market can be categorized into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
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Major players operating in the metal cutting machine market include Bystronic Laser AG (Switzerland), Colfax Corporation (the U.S.), Nissan Tanaka Corporation (Japan), TRUMPF GmbH + Co. KG (Germany), Danobat Group (India), Lincoln Electric Holdings, Inc. (the U.S.), Koike Aronson, Inc. (the U.S.), Dalian Machine Tool Group Corporation (China), Water Jet Sweden AB (Sweden), and Mass Cutting Systems (India). These players competes with each other with respect to their product portfolio in order to strive in the market.