Metal Cutting Machine Market Size, Share, Growth Analysis, By Product(Laser Cutting Machine, Water jet Cutting Machine, Plasma Cutting Machine, and Flame Cutting Machine), By Application(Automobile, Aerospace & Defense, Construction, Marine), By Region - Industry Forecast 2024-2031

Report ID: SQMIG20I2161 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 67 | Figures: 75

Metal Cutting Machine Market News

In January 2023, Trumpf GmbH + Co. KG, a high-tech company that provides manufacturing solutions in the fields of machine tools, laser technology, electronics, and Industry 4.0, announced its development of an automated, high-speed laser cutting machine that not only improves productivity but also reduces lead times. The machine is specifically designed to be used in the aerospace and automotive industries, among others.

In February 2023, Amada Co. Ltd.,a large Japanese manufacturer of metal processing equipment & machinery, announced a strategic merger with Hitachi High-Tech Corporation, manufactures and markets electronic and electrical equipment and systems, to develop a next-generation laser processing technology specifically designed for the manufacturing industry.

In March 2023, Mazak Corporation, a leading global manufacturer of machine tools, laser machines and automation solutions, reported about the launch of a new line of multi-tasking machines that combine turning operations and high-speed milling.

Metal Cutting Machine Market Report Snapshots

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Metal Cutting Machine Market size was valued at USD 5.86 billion in 2022 and is poised to grow from USD 6.18 billion in 2023 to USD 9.48 billion by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).

The competitive landscape of the metal cutting machine market is characterized by intense competition among a diverse range of and regional players. Established manufacturers with a strong history of engineering excellence and technological innovation hold significant market share. These companies leverage their experience to offer a comprehensive portfolio of metal cutting machines catering to various industries and applications. Their focus on research and development aims to introduce cutting-edge technologies, enhance precision, and improve overall operational efficiency. 'AMADA CO., LTD.', 'Haas Automation, Inc.', 'DMG Mori Co., Ltd.', 'Mitsubishi Electric Corporation', 'Trumpf Group', 'Chiron Group', 'Bystronic Laser AG', 'Hurco Companies, Inc.', 'OMAX Corporation', 'Okuma Corporation', 'Yamazaki Mazak Corporation', 'JTEKT Corporation', 'Makino Milling Machine Co., Ltd.', 'Doosan Machine Tools Co., Ltd.', 'Gleason Corporation', 'TRUMPF Laser- und Systemtechnik GmbH', 'FANUC Corporation', 'Mazak Corporation', 'Flow International Corporation', 'Komatsu Ltd.'

The demand for advanced metal cutting machines was boosted due to the improved manufacturing efficiency across industries thanks to the incorporation of Industry 4.0 concepts and automation. As a result of these advancements, producers could maintain real-time monitoring of operations, improve precision, and reduce downtime.

Industry 4.0 Integration: The metal cutting machine market was being transformed on a large scale as a result of the adoption of Industry 4.0 principles. Real-time data collection and analysis and monitoring were made possible with connected machines integrated with IoT sensors. Industries achieved optimized production schedules, improved overall efficiency and, improved predictive maintenance thanks to this data-driven approach.

As of 2022, the APAC region was the largest region of the metal cutting machine market, especially owing this position to China's powerful manufacturing industry. The region's thriving industrial sector, which includes construction plants, automotive industries, and electronics, can be credited for the substantial demand for metal cutting machines. China has made its mark on the market and cemented its large market share due to serving as a manufacturing hub and its constant targeting of furthering technological advancements and exports.

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Metal Cutting Machine Market Size, Share, Growth Analysis, By Product(Laser Cutting Machine, Water jet Cutting Machine, Plasma Cutting Machine, and Flame Cutting Machine), By Application(Automobile, Aerospace & Defense, Construction, Marine), By Region - Industry Forecast 2024-2031

Metal Cutting Machine Market News

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