Market Research Report
Metal Cutting Machine (MCM) Market Analysis, By Product (Laser, Waterjet, Plasma, Flame), By Application (Automotive, Aerospace & Defense, Construction, Marine, Electronics), And Segment Forecasts, 2014 - 2025
|Published by||Grand View Research, Inc.||Product code||557196|
|Published||Content info||90 Pages
Delivery time: 2-3 business days
|Metal Cutting Machine (MCM) Market Analysis, By Product (Laser, Waterjet, Plasma, Flame), By Application (Automotive, Aerospace & Defense, Construction, Marine, Electronics), And Segment Forecasts, 2014 - 2025|
|Published: August 10, 2017||Content info: 90 Pages||
The global metal cutting machine market is expected to reach USD 9.79 billion by 2025, according to a new report by Grand View Research, Inc. Increasing demand from automotive industry has been a key factor driving market growth, globally. In addition, robust growth in various application industries such as electronics, defense, marine, construction and aerospace is also fueling the demand.
Automotive segment held the largest market share in 2016 owing to a wide-scale usage of the product in wide range of exterior and interior components of automotive such as passenger cars, SUV's, and HUV's. The robust growth in automotive industry across the world is further driving the segment growth. MCMs are witnessing an increasing demand, which is anticipated to spur at a faster pace on account of the rising need for advanced automatic machines to increase production efficiency and avoid operator's hazardous issues.
Laser machine accounted as the largest product segment in 2016 and is anticipated to grow significantly over the upcoming years. Laser machines are extensively used for industrial manufacturing applications to produce high-quality surface finish objects. It is widely used in the shipbuilding and aerospace manufacturing process.
In marine industry, these machines are extensively used by the industry players for ship repair and fabrication of equipment. It consists of patrol boats, aircraft carriers, tankers, luxury liners, tugs, barges, large seagoing vessels for containers, and other cargo ships. Cutting machines are used to cut parts for hatches, skin of the vessel, block parts, stiffener plates, drains, the skeleton, and pipes.
Key players including Lincoln Electric Holdings, Inc., TRUMPF GmbH + Co. KG, Nissan Tanaka Corporation, Bystronic Laser AG, and Koike Aronson, Inc., dominated the global market.