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Market Research Report
Product code
959632
Metal Cutting Machine Market Size, Share & Trends Analysis Report By Product (Laser, Waterjet, Plasma, Flame), By Application (Automotive, Aerospace & Defense, Marine), By Region, And Segment Forecasts, 2020 - 2027 |
Metal Cutting Machine Market Size, Share & Trends Analysis Report By Product (Laser, Waterjet, Plasma, Flame), By Application (Automotive, Aerospace & Defense, Marine), By Region, And Segment Forecasts, 2020 - 2027 |
Published: August 20, 2020
Grand View Research, Inc.
Content info: 100 Pages
Delivery time: 2-10 business days
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Market Growth & Trends
The global metal cutting machine market size is expected to reach USD 9.74 billion by 2027, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 5.9% during the forecast period. Rising demand from various application industries for cutting components with high precision and edge quality are expected to drive the market growth.
Advancements in manufacturing processes and growing demand for the latest technologies are likely to drive the market growth. Moreover, rising demand for advanced metal cutting machines that offer increased performance and throughput coupled with the ability to cut thicker cutting ranges improved parts edge quality, and high cutting speeds are likely to drive the market growth.
Factors including widening skills gap coupled with limited skilled workers and increasing focus of application industries on automation to improve the production performance and efficiencies are likely to drive the demand for NC and CNC metal cutting machines that offer flexibility, thereby driving the overall market growth.
The outbreak of the COVID-19 pandemic, is, however, expected to have a negative impact on the manufacturing sector in several countries owing to the lockdown restrictions. This, in turn, is likely to hinder the growth of the market for metal cutting machines in 2020, which is anticipated to have a cascading effect on overall growth during the forecast period.
Report Highlights: