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The plasma cutting machine market size is estimated to grow at a CAGR of 5.62% between 2023 and 2028. The market size is forecast to increase by USD 539.92 million. The growth of the market depends on several factors such as the enhanced accuracy of cutting machines in cutting operations, the high demand for plasma cutting machines from shipbuilding sector, and the high growth potential in emerging economies.
The report includes a comprehensive outlook on the Plasma Cutting Machine Market, offering forecasts for the industry segmented by End-user, which comprises automotive, aerospace and defense, industrial construction, electrical equipment, and others. Additionally, it categorizes Type into portable and stationary, and covers Regions, including APAC, Europe, North America, South America, and Middle East and Africa. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
Plasma Cutting Machine Market Forecast 2024-2028
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Special-purpose machines such as CNC cutting machines can cut a wide range of materials, such as plastic, foam products, wood, rubber, and stainless steel, and produce high-quality cuts. These factors make them the preferred profiling method in end-user industries such as automotive, aerospace, electronics, and others. The heat-cutting process in plasma-cutting machines is used for profiling metal parts. In order to achieve optimal cuts and accuracy, CNC cutting machines use a precision plasma system.
Moreover, such a system uses a variety of gases, such as nitrogen, oxygen, or a mix of hydrogen, nitrogen, and argon, to generate the most precise and accurate cuts. The plasma-cutting machine market players are launching high-precision plasma systems in order to cater to the needs of different end-users. Thus, such developments and benefits are expected to drive the growth of the global plasma cutting machine market during the forecast period.
Partnerships and strategic alliances help the players in the global plasma cutting machine market to gain higher market shares, achieve product feature enhancements, and expand their geographic reach and product portfolios. Additionally, market players are also acquiring other market players to widen their product offerings and increase the distribution of their product lines across the world.
Furthermore, the market is also witnessing acquisitions that allow vendors to enhance their product reach. For instance, on March 7, 2023, ESAB acquired Swift-Cut, a global provider of CNC plasma cutting systems. The increase in M&A activities and strategic alliances is resulting in a rise in investments and innovations in the global plasma cutting machine market, which is subsequently supporting the growth of the market during the forecast period.
Plasma cutting technology offers several advantages when compared with the gas cutting technique; however, the initial investment plays a key role in choosing the type of equipment that end-users need to purchase and install. For instance, the initial investment in installing a plasma cutting machine is approximately six times higher than that of a gas cutting machine.
In addition, retrofitting plasma cutting machines cost 1.5 times more than gas cutting machines. Hence, the high-cost factor discourages many manufacturing industries from opting for plasma cutting machines and choosing other alternatives for metal-cutting technologies. Thus, such factors may impede the growth of the market during the forecast period.
The?automotive segment?will contribute a major share of the market. The automotive industry is the primary user of plasma cutting machines, where these machines are used for cutting the metal parts needed in almost every system in automotive vehicles, ranging from fuel delivery systems to airbag components.
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The automotive segment? showed a gradual increase in market share with?USD 577.55 million?in 2018. Plasma cutting machines are more efficient in cutting lightweight metal parts. The passenger vehicle segment in the global automotive industry is growing owing to robust demand for both SUVs and cars. Therefore, the growing automotive industry worldwide is fueling the demand for plasma cutting machines, which, in turn, is driving the growth of the plasma cutting machine market during the forecast period.
Based on type, the market has been segmented into portable and stationary. The portable segment will account for the largest share of this segment.?Portable plasma cutting machines are primarily developed for high-quality and precision cutting applications. In addition to the high quality of the cut, these machines offer ease of operation and mobility. Furthermore, portable plasma cutting machines are mainly used in the construction, repair, and maintenance sectors. In addition, the growing construction activities in the industrial sector, the rapid expansion of the automotive industry, and the above-mentioned benefits are driving the growth of the portable segment, which is anticipated to propel the growth of the market during the forecast period.
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APAC is estimated to contribute 47% to the growth by 2028. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. The plasma cutting machine market in China and India is expected to grow at a significant rate due to the increase in automotive production in countries such as China, India, and Japan. In addition, strongly supported by increased government funding for end-user industries across countries in the region will drive market growth in the next five years.
Additionally, the growing demand for plasma cutting machines across industries, including automotive, has encouraged several players operating in the regional plasma cutting machine market to launch technologically advanced products, spurring the growth of the plasma cutting machine market in APAC during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
AJAN ELEKTRONIK, Automated Cutting Machinery Inc., C and G Systems Corp., ERMAKSAN MAKINA SANAYI VE TICARET AS, ESAB Corp., Haco NV, Hornet Cutting Systems, Hypertherm Inc., Illinois Tool Works Inc., JMT, Kjellberg Holding GmbH, Koike Aronson Inc., Komatsu Ltd., Kongsberg PCS, Messer Cutting Systems Inc., NISSAN TANAKA Corp., SICK AG, Spiro International SA, and The Lincoln Electric Co.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The plasma cutting machine market report forecasts market growth by revenue at global, regional & country levels and analyzes the latest trends and growth opportunities from 2018 to 2028.
Plasma Cutting Machine Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.62% |
Market Growth 2024-2028 |
USD 539.92 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.17 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 47% |
Key countries |
US, China, Japan, India, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AJAN ELEKTRONIK, Automated Cutting Machinery Inc., C and G Systems Corp., ERMAKSAN MAKINA SANAYI VE TICARET AS, ESAB Corp., Esprit Automation Ltd., Haco NV, Hornet Cutting Systems, Hypertherm Inc., Illinois Tool Works Inc., JMT, Kjellberg Holding GmbH, Koike Aronson Inc., Komatsu Ltd., Kongsberg PCS, Messer Cutting Systems Inc., NISSAN TANAKA Corp., SICK AG, Spiro International SA, and The Lincoln Electric Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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