Global Cutting Equipment Market 2024-2028
The cutting equipment market is forecasted to grow by USD 2693.9 mn during 2023-2028, accelerating at a CAGR of 5.58% during the forecast period. The report on the cutting equipment market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing focus on automating metal cutting process, rising demand for fiber laser cutting machines, and growing investment in aerospace and defense industry.
Technavio's cutting equipment market is segmented as below:
By End-user
- Automotive
- Aerospace and defense
- Metal fabrication
- Electrical and electronics
- Others
By Technology
- Laser cutting
- Plasma cutting
- Water jet cutting
- Others
By Geography
- APAC
- North America
- Europe
- South America
- Middle East and Africa
This study identifies the technological innovations in laser cutting machines as one of the prime reasons driving the cutting equipment market growth during the next few years. Also, rising digitalization in manufacturing processes and growing focus on additive manufacturing will lead to sizable demand in the market.
The report on the cutting equipment market covers the following areas:
- Cutting equipment market sizing
- Cutting equipment market forecast
- Cutting equipment market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading cutting equipment market vendors that include AMADA Co. Ltd., Amalgamations Group, Berkenhoff GmbH, DMG MORI Co. Ltd., ESAB Corp., FANUC Corp., Gedik Holding, Illinois Tool Works Inc., IPG Photonics Corp., Jenoptik AG, Jinan Senfeng Laser Technology Co. Ltd., Koike Aronson Inc., KYOCERA Corp., Laserline GmbH, Mitsubishi Electric Corp., Plansee SE, Sandvik AB, Schlatter Industries AG, The Lincoln Electric Co., and TRUMPF SE Co. KG. Also, the cutting equipment market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.