Cutting Equipment Market Size (2024 - 2029)

The cutting equipment market is experiencing growth driven by increasing demand from various end-user industries such as automotive and aerospace. Despite challenges posed by the COVID-19 pandemic, which disrupted supply chains and reduced orders, the market is expanding due to advancements in cutting technologies and the rising need for automated equipment. The market's expansion is supported by the development of heavy industrial equipment and the growing demand for fabricated metal products. Additionally, the integration of robotics in manufacturing processes is reducing reliance on manual labor, further contributing to the market's growth.

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Market Size of Cutting Equipment Industry

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Cutting Equipment Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
CAGR 5.00 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Medium

Major Players

Cutting Equipment Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Cutting Equipment Market Analysis

The cutting equipment market is currently pegged at a value of around USD 7 billion and is expected to register a CAGR of greater than 5% during the forecast period.

  • The COVID-19 outbreak had a significant negative impact on the cutting equipment business. The absence of capital equipment investment, worker migration, interrupted supply chains, and other issues affect the automotive, construction, manufacturing, and other industries, which results in inconsistent orders from original equipment manufacturers. It has slowed down factory operations in the United States, Germany, China, India, and other nations. Negative demand has resulted in the construction, automotive, and other industries.
  • The growth of the market is primarily driven by the increasing demand from several end-user industries, such as automotive, aerospace, and others, across the world. Oxy-fuel cutting technology is widely used due to its high speed, relatively low cost, and precision cuts. Owing to the growing demand, advanced cutting technologies are evolving, and companies are investing more in research and development (R&D) activities to gain a competitive advantage in terms of manufacturing efficiency, product pricing, and product capabilities.
  • Furthermore, the market is also driven by the growing demand for fabricated metal products, the development of heavy industrial equipment, advancements in manufacturing processes, and the adoption of the latest technologies. Additionally, the demand for automated equipment is also increasing due to the shortage of skilled personnel in some of the regions studied.
  • Major companies in several developed countries have started using robotics (industrial cutting robots) for their manufacturing processes to reduce their dependency on manpower. The metal fabrication market may be less prone to wild fluctuations than other industries, which will allow these conventional cutting processes to grow moderately. Since cutting machines are a sub-segment of the machine tool market, the growth of the machine tool market is a positive sign for the current market studied.
  • China is the global leader in the machine tool market. Worldwide, the machine tooling sector represented a major share in terms of production volume when compared to forming technology. Nowadays, laser cutting is commonly used to cut ceramics. Ceramics play an important role in many industries owing to their thermal conductivity and electrical insulation. This kind of property has made ceramics useful for different applications.

Cutting Equipment Industry Segmentation

Cutting equipment is the part of machine tools that are utilized to remove excess material from a workpiece with a cutting medium. These machines are specifically utilized across boring, slotting, and lathe machines. The cutting equipment market is segmented by technology (laser, plasma, waterjet, flame, and others), by end-user (automotive, aerospace and defense, electrical and electronics, construction, and other end users), and by geography (North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America). The report offers market size and forecasts for Cutting Equipment Market (in USD Billion) for all the above segments.

By Technology
Laser
Plasma
Waterjet
Flame
Other Technologies
By End-user
Automotive
Aerospace and Defense
Electrical and Electronics
Construction
Other End-Users
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Russia
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
UAE
Saudi Arabia
Egypt
South Africa
Rest of Middle East and Africa
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Cutting Equipment Market Size Summary

The cutting equipment market is experiencing a resurgence following the challenges posed by the COVID-19 pandemic, which had a detrimental impact on various industries such as automotive, construction, and manufacturing. The market is driven by increasing demand from end-user sectors like automotive and aerospace, with advancements in cutting technologies such as oxy-fuel and laser cutting playing a significant role. These technologies are favored for their speed, cost-effectiveness, and precision, prompting companies to invest in research and development to enhance manufacturing efficiency and product capabilities. The market's growth is further supported by the rising demand for fabricated metal products, the development of heavy industrial equipment, and the adoption of automated equipment to address skilled labor shortages.

Regionally, Asia-Pacific is anticipated to lead in growth, with China at the forefront due to its expansive manufacturing sector and robust automotive industry. The ASEAN region is also emerging as a key player, attracting businesses with its low operating costs and integration into global manufacturing value chains. The market is characterized by a fragmented landscape with both large global players and smaller local entities. Major companies like The Lincoln Electric Company, Messer Cutting Systems, Colfax Corporation, Ador Welding Ltd., and Amada are prominent in the market, with recent strategic moves such as acquisitions and product introductions enhancing their market positions. As the automotive industry recovers and manufacturing activities expand, the demand for cutting equipment is expected to rise, offering significant opportunities for market players.

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Cutting Equipment Market Size - Table of Contents

  1. 1. MARKET OVERVIEW AND DYNAMICS

    1. 1.1 Current Market Scenario

    2. 1.2 Market Dynamics

      1. 1.2.1 Drivers

      2. 1.2.2 Restraints

      3. 1.2.3 Opportunities

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Consumers / Buyers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

    4. 1.4 Global Manufacturing Sector (Overview, Trends, R&D, Key Statistics, etc.)

    5. 1.5 Key Government Regulations and Initiatives for Manufacturing Sector

    6. 1.6 Metal Working Industry Snapshot (Overview, Key Metrics, Developments, etc.)

    7. 1.7 Technology Snapshot

    8. 1.8 Insights on Cutting Tools and Tool Holders

    9. 1.9 Impact of COVID - 19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Technology

      1. 2.1.1 Laser

      2. 2.1.2 Plasma

      3. 2.1.3 Waterjet

      4. 2.1.4 Flame

      5. 2.1.5 Other Technologies

    2. 2.2 By End-user

      1. 2.2.1 Automotive

      2. 2.2.2 Aerospace and Defense

      3. 2.2.3 Electrical and Electronics

      4. 2.2.4 Construction

      5. 2.2.5 Other End-Users

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Russia

        5. 2.3.2.5 Spain

        6. 2.3.2.6 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 India

        3. 2.3.3.3 Japan

        4. 2.3.3.4 South Korea

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 UAE

        2. 2.3.5.2 Saudi Arabia

        3. 2.3.5.3 Egypt

        4. 2.3.5.4 South Africa

        5. 2.3.5.5 Rest of Middle East and Africa

Cutting Equipment Market Size FAQs

The Cutting Equipment Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

The Lincoln Electric Company, Messer Cutting Systems, Colfax Corporation, Ador Welding Ltd and Amada are the major companies operating in the Cutting Equipment Market.

Cutting Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)