Global metal cutting machine market size to display 5.9% CAGR over 2020-2027
Market Study Report, LLC.
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The business intelligence report on ‘Global Metal Cutting Machine Market’ entails a detailed assessment of the top growth catalysts, lucrative prospects, restraints, and opportunities that are estimated to influence the business dynamics over 2020-2027.
Selbyville, Delaware, May 05, 2021 (GLOBE NEWSWIRE) -- As cited by credible industry analysts, global metal cutting machine market size was worth USD 6.17 billion in 2019 and is calculated to grow at a compound annual growth rate of 5.9% over 2020-2027, accounting for around USD 9.76 billion by the end of the stipulated period.
The unexpected advent of the Coronavirus pandemic has curtailed the global economy, barricading business development as well as revenue generation by disrupting the supply chain. Our thorough analysis aims to address all possible contingencies while ideating strategic business plans for stakeholders to maintain their foothold in this space. Moving onward, the research literature incorporates a detailed assessment of the top-tier companies along with their product & service offerings, production capabilities, remuneration, and profit stake.
Escalating investments towards the defense & aerospace sectors, ongoing technological advancements, and introduction of innovative products as well as services are fostering global metal cutting machine market growth.
For the record, metal cutting machines are mainly utilized for cutting various types of metals by leveraging lasers, flames, and high-pressure water. These machines are commercialized in various types, namely laser machines, flame cutting machines, and waterjet cutting machines among others.
Advantageous attributes such as flexibility, great quality, and high precision are impelling product demand, which in turn is stimulating global metal cutting machine market outlook. Additionally, strategic alliances among market leaders coupled with surging demand for flame cutting as well as plasma cutting tools are contributing towards the business development.
On the contrary, increasing preferences towards traditional metal cutting machines over waterjet metal cutting machines for better time efficiency is expected to hamper industry growth throughout the analysis period.
Market segmentations
Based on product landscape, the business domain is fragmented into waterjet cutting machine, flame cutting machine, plasma cutting machine, and laser cutting machine. With regards to application spectrum, the business space is bifurcated into electronics & electrical, marine, construction, aerospace & defense, and automotive among others.
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From a geographical viewpoint, Europe, North America, Asia-Pacific, and Latin America are the key contributors of global metal cutting machine market value.
Among these, Europe currently holds the largest market share in terms of revenue, on account of rising adoption of automated solutions in the industrial sector. Additional factors such as ongoing technological advancements and surging demand for energy-efficient technologies are also favoring the regional market scenario
On the other hand, Asia-Pacific marketplace is also estimated to grow tremendously, displaying the highest CAGR over the study period. Rapid infrastructural development across various industries, including consumer electronics, defense, automotive, and aerospace is adding traction to Asia-Pacific metal cutting machine industry size.
Global Metal Cutting Machine Market Product Type Sub-segments (Revenue, USD Billion, 2017-2027)
Laser Cutting Machine
Plasma Cutting Machine
Waterjet Cutting Machine
Flame Cutting Machine
Global Metal Cutting Machine Market Application Spectrum (Revenue, USD Billion, 2017-2027)
Automotive
Aerospace & Defense
Construction
Marine
Electronics & Electrical
Others
Global Metal Cutting Machine Market Regional Outlook (Revenue, USD Billion, 2017-2027)
Europe
Italy
Spain
France
Germany
Rest of Europe
North America
Canada
United States
Asia-Pacific
South Korea
Australia
Japan
China
India
Rest of Asia-Pacific
Latin America
Mexico
Brazil
Global Metal Cutting Machine Market Competitive Landscape (Revenue, USD Billion, 2017-2027)
1.2.1. Metal Cutting Machine Market, by Region, 2018-2027 (USD Billion)
1.2.2. Metal Cutting Machine Market, by Product, 2018-2027 (USD Billion)
1.2.3. Metal Cutting Machine Market, by Application, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Metal Cutting Machine Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Metal Cutting Machine Market Dynamics
3.1. Metal Cutting Machine Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Metal Cutting Machine Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2017-2027)
4.2. PEST Analysis
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Metal Cutting Machine Market, by Product
5.1. Market Snapshot
5.2. Global Metal Cutting Machine Market by Product, Performance - Potential Analysis
5.3. Global Metal Cutting Machine Market Estimates & Forecasts by Product 2017-2027 (USD Billion)
5.4. Metal Cutting Machine Market, Sub Segment Analysis
5.4.1. Laser Cutting Machine
5.4.2. Waterjet Cutting Machine
5.4.3. Plasma Cutting Machine
5.4.4. Flame Cutting Machine
Chapter 6. Global Metal Cutting Machine Market, by Application
6.1. Market Snapshot
6.2. Global Metal Cutting Machine Market by Application, Performance - Potential Analysis
6.3. Global Metal Cutting Machine Market Estimates & Forecasts by Application 2017-2027 (USD Billion)
6.4. Metal Cutting Machine Market, Sub Segment Analysis
6.4.1. Automotive
6.4.2. Aerospace & Defense
6.4.3. Construction
6.4.4. Marine
6.4.5. Electronics & Electrical
6.4.6. Others
Chapter 7. Global Metal Cutting Machine Market, Regional Analysis
Related Report:
Global Metal Fabrication Equipment Market Size and Regional Forecasts 2020-2027
Global Metal Fabrication Equipment Market to reach USD 100.2 billion by 2027. Global Metal Fabrication Equipment Market is valued approximately at USD 73.8 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 3.90% over the forecast period 2020-2027. Metal fabrication is a process that includes structuring of metals by cutting, bending, milling, forming, welding, machining, stamping, assembling processes and finishing via metal fabrication equipment. It involves building metal components for various applications such as automotive, job shops, mechanical application, aerospace & defense and others.
The rising technological advancements such as IoT and automation as well as increasing Focus on the Implementation of Industry 4.0 has led to positive changes in metal fabrication industry which in result has driven the demand of the market. Further the increasing demand for machining and metal processing with the growing number of smart factories in industrial sector will drive the market. For instance, according to Capgemini Digital Transformation Institute, 43% of the world, has operational smart factories, while 33% have formulated the smart factory initiative. The remaining 8% are to adopt smart factories in the next 3-5 years. The increasing dependency on machines and metal processing along with change in lifestyle is promoting the adoption of Metal Fabrication Equipment over the forecast period.
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