The global metal cutting machine market is expected to reach $9.79 billion by 2025, according to a new report by Grand View Research Inc. Increasing demand from automotive industry has been a key factor driving market growth, globally. In addition, robust growth in various application industries such as electronics, defense, marine, construction and aerospace is also fueling the demand.
The automotive segment held the largest market share in 2016 owing to a wide-scale usage of metalcutting machinery in a wide range of exterior and interior automotive components. The robust growth in the automotive industry across the world is further driving the segment growth. Demand is also spurred by the rising need for advanced CNC machines to increase production efficiency and avoid operator hazards.
Laser cutters were accounted to be the largest product segment in 2016; that segment is anticipated to grow significantly over the coming years. Laser cutting machines are extensively used in industrial manufacturing applications to produce high-quality surface finish objects. They are is widely used in the shipbuilding and aerospace manufacturing process.
Key findings from the report include:
- Global metal cutting machine demand was $5.99 billion in 2016 and is expected to grow at a CAGR of 5.7% from 2017 to 2025. Automotive emerged as the largest application segment in 2016 and is expected to grow at a predicted CAGR of 6.5% between 2017 and 2025.
- Global demand for flame cutting machines was $333.7 million in 2016 and is anticipated to witness staggered growth over the next eight years. The U.S. market in the aerospace & defense segment was $511.1 million in 2016 and is projected to grow at rate of 4.2% from 2017 to 2025
- The market in Asia Pacific is projected to experience substantial growth over the next eight years owing to robust growth in various application industries, especially in the automotive and A&D markets. In terms of revenue, the APAC market is expected to grow at a CAGR of 6.7% between 2017 and 2025
- Key players—including Lincoln Electric Holdings, Inc., TRUMPF GmbH + Co. KG, Nissan Tanaka Corporation, Bystronic Laser AG, and Koike Aronson, Inc.—dominated the global market.
Information provided by Grand View Research Inc.
Related Glossary Terms
- computer numerical control ( CNC)
computer numerical control ( CNC)
Microprocessor-based controller dedicated to a machine tool that permits the creation or modification of parts. Programmed numerical control activates the machine’s servos and spindle drives and controls the various machining operations. See DNC, direct numerical control; NC, numerical control.
- metalcutting ( material cutting)
metalcutting ( material cutting)
Any machining process used to part metal or other material or give a workpiece a new configuration. Conventionally applies to machining operations in which a cutting tool mechanically removes material in the form of chips; applies to any process in which metal or material is removed to create new shapes. See metalforming.
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