Global Plasma Cutting System Market 2023-2030

Global Plasma Cutting System Market 2023-2030

Global Plasma Cutting System Market Size, Share & Trends Analysis Report by Type (Portable, Stationary), by End-User Vertical (Aerospace & Defense, Industrial Construction, Electrical Equipment, Automotive, Other) Forecast Period (2022-2030)

The global plasma cutting system market is anticipated to grow at a CAGR of 5.5% during the forecast period. The growing application of plasma cutting machines in end-user industries is a key factor driving the growth of the global plasma cutting system market. Advancements in the plasma cutting technology has forced metal fabricators to rethink its usage. High-definition plasma cutting provides a squarer edge-cut than previous generations of the technology. On 0.25-in. mild steel, plasma torches can reach cutting speeds of more than 100 IPM. Plasma systems also can deliver bolt-ready holes that minimize secondary machining activities once the plate parts leave the table. Continuous invest in R&D further contributing to the market development.

In April 2021, Hornet Cutting Systems launched the Mini Hornet CNC plasma cutter. Designed for educational settings and small shops, the low-maintenance machine maximizes floor space. The system features FlashCut CAD, CAM, and CNC all-in-one software; a fully welded frame; linear guideways; power track cable management; a welded water pan with removal slats; integrated torch-height control; and a ball screw-driven Z-axis lifter. It also features a magnetic breakaway torch collision sensor, a laser pointer, and fast-change oxyfuel capabilities with preheat functionality. New product launches is further contributing to the market growth. However, high cost of installation and maintenance are the barriers to the high growth of the global market.

Segmental Outlook

The global plasma cutting system market is segmented based on type and end-user vertical. Based on type, the market is segmented into portable & stationary. Based on end-user vertical, the market is segmented into aerospace & defense, industrial construction, electrical equipment, automotive, and other.

Regional Outlooks

The global plasma cutting system market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). North America is anticipated to exhibit considerable growth in the global plasma cutting system market. Huge investment by key market players in plasma cutting technologies is a key factor driving the growth of the global plasma cutting system market. For instance, in November 2020, Halter Marine unveiled the PythonX, a plasma cutter machine. The PythonX is poised to replace the traditional hand-cut method of cutting steel. Now, those parts will be cut via computerized numeric control; the CNC process is driven by 3D production design models. Bringing in high-tech tools such as these ensures that Halter Marine will be ready when construction on the PSC begins next year.

Global Plasma Cutting System Market Growth, by Region 2023-2030

Source: OMR Analysis

Asia-Pacific held Considerable Share in the Global Plasma cutting system Market

Initiatives such as “Make in India”, “Made in China”, and ‘Aatmanirbhar Bharat” among others has driven the regional market. For instance, in October 2020, Garden Reach Shipbuilders and Engineers (GRSE) Ltd., a Miniratna Category 1 Defense PSU and premier warship builder of the nation, launched two new facilities in India. As part of the Atmanirbhar Bharat Week Celebration, a state-of-the-art indigenous underwater CNC Plasma Cutting Machine and a Modern Hull Block Fabrication Complex, were virtually inaugurated by Hon’ble Raksha Mantri, Shri Rajnath Singh at GRSE’s Rajabagan Dockyard Unit, Kolkata. This marks the achievement of a major milestone by the Shipyard in their ongoing modernization plan. The CNC Plasma Cutting facility set up at a cost of Rs.4.14 Crores will enhance the plate cutting capacity by 30.0% and the Complex constructed at a cost of Rs.19 Crores for Hull block Fabrication will enable concurrent construction of large sized (40 Ton) hull blocks in a covered environment, which will facilitate modular Integrated Construction of warships with an enhancement in production capacity of hull blocks by 25.0%.

Market Players Outlook

The major companies serving the global plasma cutting system market include Hypertherm, Esab, Komatsu Ltd, Nissan Tanaka, and Messer Cutting systems among others. The market players are considerably contributing to the market growth by the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in April 2021, Salasar Techno Engineering had launched its new manufacturing plant for structural steel fabrication in Hapur, Uttar Pradesh. The newly launched plant is one of the largest installed capacities plants in North India with a total production capacity of 15,000 tpa. The manufacturing unit is equipped with an automated multi torch CNC plasma cutting machine for extreme precision. The manufacturing unit is spread over 60,000 sqm to provide heavy structural steel fabrication for bridges, power plants, process plants, high-rise buildings, PEB buildings, warehouses, airport hangers and also Metro stations.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global plasma cutting system market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.