Pune, Jan. 27, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research is a leading engineering equipment market research firm has published report on “Metal-Cutting Machine Market”. The report includes key business insights, demand analysis, pricing analysis, and competitive landscape along with market drivers and challenges for the growth of the market. Metal-Cutting Machine Market size was valued at USD 6.95 Billion in 2021 and is expected to grow by 5.03 percent from 2022 to 2029, reaching nearly USD 10.29 Billion.
Metal-Cutting Machine Market Scope and Research Methodology
The market intelligence report on Metal-Cutting Machine Market covers key drivers, challenges, lucrative opportunities and recent development in the market. Key offerings include market size, growth rate, demand and pricing analysis of the Metal-Cutting Machine Market. Thus the report acts as a toolkit for clients to grasp the growth prospects and formulate business strategies.
For regional analysis, manufacturers are presented with insights such as regional market size, market penetration and regional dominance. Segment-wise analysis of the market by Application, Product Type is conducted to understand the market structure and provides valuable information on the fastest growing segments with probable reasons for growth. A competitive landscape of the Metal-Cutting Machine Market is drawn by listing key manufacturers along with new entrants in the industry. This is carried out based on indicators that include the revenue generated by the manufacturers, financial status, marketing tactics, advertising, adoption of technical advancements, mergers and acquisitions and joint alliances.
A mix of qualitative and quantitative analysis to gain a clear understanding of the market dynamics was conducted. The market size was estimated using a bottom-up approach in the report. Primary and secondary data collection methods were used to collect data for the analysis of the Metal-Cutting Machine Market. To estimate the Metal-Cutting Machine Market size, a bottom-up approach was used, the inferences of which were validated using primary research. The tool employed for analysing the market includes SWOT, PESTLE and Porter’s Five Force analysis. The analysis helps manufacturers understand the pattern of demand for the product, market gaps and new opportunities for the growth of the market.
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Metal-Cutting Machine Market Overview
Metal cutting machines are used to cut metals to achieve the desired shape from chips or blocks of metal. These machines include lathes, drilling machines, milling machines, grinding machines and machining centres. Common metal-cutting processes include drilling, turning, boring and milling. Factors that are considered during the metal-cutting process include the type of metal, temperature, force, power and finish to name a few. Over the forecast period, digitization and growing use by developing countries due to the rapid growth of various end-use industries is expected to fuel the growth of the Metal-Cutting Machine industry. However, the high cost of advanced machines is expected to retrain the market growth.
Metal-Cutting Machine Market Dynamics
The incorporation of digitization in the industry is expected to be the primary driver of the Metal-Cutting Machine Market over the forecast period. Digitization in the industry would not only reduce work time but also improve accuracy, increase productivity and significantly increase cash flows in the Metal-Cutting Machine Market. Examples of the same would be digital tool organisation, machine-readable tool setup data and many more. Digitization in the industry is also expected to result in a smoother implementation of automation and tackle the problem of an ageing labour base by easing new engineers in the Metal-Cutting Machine Market.
Developmental activities in countries like India, China, Brazil and Mexico are also driving the Metal-Cutting Machine Market growth. Increasing urbanisation and industrialisation in these economies have opened up new opportunities for the growth of the Metal-Cutting Machine industry. This is especially true for the construction industry where metal needs to be cut precisely in terms of measurement, thickness and form. End-use industries such as manufacturing, aerospace and defence and automotive are expected to fuel the industry growth. Governments across the world are increasing their expenditure on defence which is expected to increase demand for Metal-Cutting Machine Market. However, the high cost of advanced metal-cutting machines is expected to restrain the Metal-Cutting Machine Market growth over the forecast period.
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Metal-Cutting Machine Market Regional Insights
The Asia-Pacific region held the largest share in 2021, accounting for 45 percent of the global Metal-Cutting Machine Market. The region is populated by developing countries like India, China and South Korea which are witnessing improvements in economic conditions and rapid industrialization is expected to drive the growth of the Metal-Cutting Machine Market. End-use industries hic include aerospace, defence, automotive and electrics industries are expected to fuel demand for the metal-cutting machine with the region becoming a high-tech manufacturing hub. Increasing competition in the market is resulting in research and development that is further boosting the regional Metal-Cutting Machine Market growth. In the region, India and China are expected to hold the largest share of the Metal-Cutting Machine Market over the forecast period.
| Market Size in 2021 | USD 6.95 Bn. |
| Market Size in 2029 | USD 10.29 Bn. |
| CAGR | 5.03 % (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 201 |
| No. of Tables | 103 |
| No. of Charts and Figures | 105 |
| Segment Covered | Application, Product Type |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
Metal-Cutting Machine Market Segmentation
By Product Type:
- Laser Cutting Machine
- Waterjet Cutting Machine
- Plasma Cutting Machine
- Flame Cutting Machine
By Application:
- Automobile
- Aerospace & Defense
- Construction
- Marine
- Electronics & Electrical
- Others
Metal-Cutting Machine Market Key Players include:
- Sandvik
- Kennametal
- Iscar
- OSG
- Mitsubishi
- Kyocera
- Sumitomo
- Mapal
- Nachi-Fujikoshi
- LMT
- ZCCCT
- YG-1
- Shanghai Tool
- Korloy
- Union Tool
- Tiangong
- Guhring
- Harbin No.1 Tool
- Tivoly
- Ceratizit
- Hitachi
- Feidadrills
- Chengdu Chengliang
- BIG Kaiser
- Addison
- Hanjiang
- EST Tools
- Xiamen Golden Erge
- AHNO
- Sandhog
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Key questions answered in the Metal-Cutting Machine Market are:
- What is Metal-Cutting Machine?
- What is the current growth rate of the Metal-Cutting Machine Market?
- Who are the key players in the Metal-Cutting Machine Market?
- What are the factors affecting growth in the Metal-Cutting Machine Market?
- Who held the largest market share in Metal-Cutting Machine Market?
- What is the demand pattern for the Metal-Cutting Machine Market?
- What are the opportunities for the Metal-Cutting Machine Market?
- What are the strategies used by competitors in the Metal-Cutting Machine Market?
- What are the growth prospects in developing countries for the Metal-Cutting Machine Market?
- Which segment is expected to witness the fastest growth and why in the Metal-Cutting Machine Market?
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Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Application, Product Type and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Maximize Market Research is leading engineering equipment research firm, has also published the following reports:
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Additive Manufacturing Market-The market size is expected to reach USD 84.87 billion by 2029 at a CAGR of 21.1 percent during the forecast period. It is expected to be driven by advancements in machines, adoption of cutting edge technology and increasing end-use industries such as healthcare, automotive, aerospace and military.
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