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Cutting Equipment Market By Technology (Plasma Cutting, Waterjet Cutting, Flame Cutting, Other Technologies); By End User (Automotive, Aerospace and Defense, Electrical and Electronics, Construction, Other End-Users); By Region – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

Name: Cutting Equipment Market - Demand, Size and Competitive Analysis
Creator: Credence Research Inc.
Published: 2024-07-25
License: https://www.credenceresearch.com/info/privacy-policy
Keywords: Cutting Equipment Market

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REPORT ATTRIBUTE	DETAILS
Historical Period	2019-2022
Base Year	2023
Forecast Period	2024-2032
Global Cutting Equipment Market Size 2023	USD 6,966.30 million
Global Cutting Equipment Market, CAGR	5.26%
Global Cutting Equipment Market Size 2032	USD 11,106.71 million

Market Overview

The global Cutting Equipment Market is projected to grow from USD 6,966.30 million in 2023 to an estimated USD 11,106.71 million by 2032, with a compound annual growth rate (CAGR) of 5.26% from 2024 to 2032. This significant growth is driven by increasing demand for precision in manufacturing processes, advancements in cutting technologies, and the rising adoption of automation in various industries.

Key market drivers include the rapid industrialization and the increasing focus on high-quality and efficient production techniques. Trends such as the integration of Internet of Things (IoT) in cutting equipment for real-time monitoring and predictive maintenance are gaining traction. Additionally, the shift towards environmentally friendly and energy-efficient cutting solutions is further propelling market growth.

Geographically, Asia-Pacific dominates the Cutting Equipment Market, accounting for the largest market share, driven by robust industrial growth and significant investments in manufacturing sectors in countries like China, India, and Japan. North America and Europe also hold substantial market shares due to technological advancements and high demand in automotive and aerospace industries. Key players in the market include Lincoln Electric Holdings, Inc., Colfax Corporation, Illinois Tool Works Inc., and Hypertherm Inc., which are continuously innovating to maintain their competitive edge and meet evolving customer demands.

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Market Drivers

Technological Advancements in Cutting Equipment

The cutting equipment market is significantly driven by continuous technological advancements. Innovations in cutting technologies, such as laser cutting, plasma cutting, and waterjet cutting, have enhanced precision, speed, and efficiency. For instance, laser cutting offers high precision and the ability to cut complex shapes with minimal material waste, making it highly desirable in industries requiring intricate designs. Plasma cutting provides a cost-effective solution for cutting thick materials quickly, while waterjet cutting is valued for its ability to cut a wide variety of materials without thermal distortion. These advancements not only improve operational efficiency but also reduce production costs, making advanced cutting technologies increasingly attractive to manufacturers across various industries. Moreover, the integration of automation and digital control systems in cutting equipment has revolutionized the market. Automated cutting systems equipped with CNC (Computer Numerical Control) and robotic arms enable high precision and repeatability, reducing human error and increasing production rates. The advent of Industry 4.0 and the incorporation of IoT (Internet of Things) in cutting equipment allow real-time monitoring and predictive maintenance, minimizing downtime and extending the lifespan of the equipment. These technological advancements ensure that manufacturers can meet the growing demand for high-quality products with shorter lead times, thereby driving the market growth.

Increasing Demand from Key End-Use Industries

The global cutting equipment market is experiencing robust growth due to increasing demand from key end-use industries such as automotive, aerospace, construction, and electronics. For instance, in the automotive industry, the need for lightweight and durable components necessitates precise cutting techniques to ensure high-quality parts. Laser and plasma cutting technologies are extensively used for cutting various automotive components, from body panels to intricate engine parts, to meet stringent quality standards and enhance vehicle performance. The aerospace industry also significantly contributes to the demand for cutting equipment. The production of aircraft involves cutting high-strength materials like titanium and aluminum alloys with exceptional precision. Waterjet and laser cutting technologies are preferred for their ability to cut complex geometries without affecting the material properties, ensuring the integrity and safety of critical aerospace components. As the aerospace industry continues to grow, driven by increasing air travel and defense investments, the demand for advanced cutting equipment is expected to rise. In the construction industry, cutting equipment is essential for processing materials like steel, concrete, and stone. Plasma cutting machines are widely used for cutting thick steel plates in construction projects, while diamond cutting tools are preferred for precise cutting of concrete and stone. The ongoing infrastructure development and urbanization projects worldwide are driving the demand for cutting equipment in the construction sector. Additionally, the electronics industry relies on cutting equipment for manufacturing precision components used in various electronic devices. Laser cutting technology is particularly valuable for producing small, intricate parts required in smartphones, laptops, and other electronic gadgets. The growing consumer electronics market, coupled with advancements in semiconductor manufacturing, is expected to fuel the demand for cutting equipment in the electronics industry.

Rising Adoption of Automation and Smart Manufacturing

The rising adoption of automation and smart manufacturing practices is a key driver of the global cutting equipment market. Manufacturers are increasingly embracing automation to enhance productivity, reduce labor costs, and improve product quality. For instance, automated cutting systems, equipped with advanced software and robotic arms, enable seamless integration into production lines, allowing for continuous and efficient operations. The ability to program cutting paths and parameters ensures consistent precision and repeatability, minimizing material waste and optimizing resource utilization. Smart manufacturing, driven by Industry 4.0 principles, is transforming the cutting equipment market. The integration of IoT and data analytics in cutting machines allows real-time monitoring of equipment performance, predictive maintenance, and process optimization. IoT-enabled sensors collect data on machine conditions, cutting parameters, and environmental factors, providing valuable insights for predictive maintenance and reducing unplanned downtime. This proactive approach to maintenance ensures that cutting equipment operates at peak efficiency, extending its lifespan and reducing operational costs. Moreover, the implementation of advanced software solutions, such as CAD (Computer-Aided Design) and CAM (Computer-Aided Manufacturing), enhances the capabilities of cutting equipment. These software tools enable precise design and programming of cutting operations, allowing manufacturers to create complex shapes and patterns with ease. The ability to simulate cutting processes before actual production reduces errors and improves overall efficiency. As manufacturers continue to invest in automation and smart manufacturing technologies, the demand for advanced cutting equipment is expected to increase.

Growing Emphasis on Sustainability and Energy Efficiency

The global cutting equipment market is witnessing a growing emphasis on sustainability and energy efficiency, driving the demand for eco-friendly cutting solutions. Manufacturers are increasingly focusing on reducing their carbon footprint and minimizing energy consumption to align with environmental regulations and meet consumer expectations for sustainable practices. Energy-efficient cutting technologies, such as fiber laser cutting, are gaining popularity due to their lower energy consumption and higher cutting speeds compared to traditional CO2 lasers. Fiber lasers use solid-state technology, which requires less power and generates less heat, resulting in reduced energy costs and environmental impact. The ability to cut a wide range of materials with minimal energy input makes fiber laser cutting an attractive option for manufacturers seeking sustainable solutions. Additionally, waterjet cutting is recognized for its eco-friendly attributes, as it does not produce harmful fumes or thermal distortion. The use of water and abrasive materials in the cutting process eliminates the need for harmful chemicals, making it a safer and more environmentally friendly option. Waterjet cutting also allows for recycling of water and abrasives, further reducing waste and environmental impact. Manufacturers are also adopting sustainable practices in the production and disposal of cutting equipment. The use of recyclable materials in the manufacturing process and the development of equipment with longer lifespans contribute to reducing waste and promoting a circular economy. As sustainability becomes a key priority for businesses and consumers, the demand for energy-efficient and eco-friendly cutting equipment is expected to rise, driving market growth.

Market Trends

Integration of Advanced Technologies

One of the most significant trends in the global cutting equipment market is the integration of advanced technologies such as automation, IoT (Internet of Things), and artificial intelligence (AI). The advent of Industry 4.0 has revolutionized manufacturing processes, and cutting equipment is no exception. For instance, automated cutting systems equipped with CNC (Computer Numerical Control) and robotic arms are becoming increasingly prevalent, allowing for higher precision, efficiency, and repeatability. These systems can operate continuously with minimal human intervention, reducing labor costs and increasing production rates. The incorporation of IoT in cutting equipment enables real-time monitoring and predictive maintenance, significantly reducing downtime and enhancing operational efficiency. Sensors embedded in the equipment collect data on performance, wear and tear, and environmental conditions, which are then analyzed to predict maintenance needs and prevent unexpected failures. This proactive approach to maintenance not only extends the lifespan of the equipment but also ensures consistent performance and quality. AI is also playing a crucial role in optimizing cutting processes. AI algorithms can analyze large datasets to determine the most efficient cutting paths, speeds, and parameters, reducing material waste and energy consumption. Machine learning models can continuously improve cutting precision and efficiency by learning from past operations, making AI-integrated cutting equipment increasingly valuable in high-demand industries.

Shift Towards Sustainability and Energy Efficiency

Sustainability and energy efficiency have become paramount concerns across various industries, and the cutting equipment market is no exception. Manufacturers are increasingly adopting cutting technologies that are environmentally friendly and energy-efficient to comply with stringent environmental regulations and meet the growing demand for sustainable practices. For instance, fiber laser cutting technology is gaining traction due to its high energy efficiency and lower environmental impact compared to traditional CO2 lasers. Fiber lasers use solid-state technology, which requires less power and produces less heat, resulting in reduced energy consumption and operational costs. This technology is particularly advantageous for cutting a wide range of materials with high precision and speed, making it a preferred choice for manufacturers aiming to enhance sustainability. Waterjet cutting is another technology that aligns with sustainable practices. Unlike traditional cutting methods that generate harmful fumes and thermal distortion, waterjet cutting uses a high-pressure stream of water mixed with abrasives to cut materials. This process does not produce toxic emissions and reduces the risk of material degradation due to heat, making it an environmentally friendly alternative. Additionally, water and abrasives used in the cutting process can be recycled, further minimizing waste and environmental impact. The trend towards sustainability is also evident in the production and disposal of cutting equipment. Manufacturers are focusing on using recyclable materials and designing equipment with longer lifespans to promote a circular economy. By reducing waste and optimizing resource use, these sustainable practices contribute to a more environmentally responsible cutting equipment market.

Market Restraints and Challenges

High Initial Investment and Maintenance Costs

One of the primary restraints in the global cutting equipment market is the high initial investment and ongoing maintenance costs associated with advanced cutting technologies. The acquisition of state-of-the-art cutting equipment, such as laser cutters, CNC machines, and robotic arms, requires substantial capital outlay. This financial barrier can be particularly challenging for small and medium-sized enterprises (SMEs) with limited budgets. The costs do not end with the purchase; regular maintenance, calibration, and upgrades to keep the equipment in optimal condition add to the overall expenditure. Moreover, the need for skilled operators and technicians to manage and maintain these sophisticated machines further escalates operational costs. Training personnel to effectively use and troubleshoot advanced cutting equipment can be time-consuming and expensive. For many businesses, the return on investment (ROI) may not be immediately apparent, making it difficult to justify the high upfront and ongoing costs. This financial challenge can slow down the adoption rate of cutting-edge technologies, thereby restraining market growth.

Technological Complexity and Integration Issues

Another significant challenge facing the global cutting equipment market is the technological complexity and integration issues associated with advanced cutting systems. As cutting equipment becomes more sophisticated, the integration of various technologies such as IoT, AI, and automation becomes increasingly complex. Ensuring seamless communication and interoperability between different systems and components can be a daunting task. For instance, integrating a new laser cutting system with existing manufacturing processes and IT infrastructure often requires substantial customization and fine-tuning. Additionally, the rapid pace of technological advancements can lead to compatibility issues. Newer cutting technologies may not always be compatible with legacy systems, necessitating costly upgrades or replacements. The continuous evolution of software and hardware also requires businesses to stay updated, which can be resource-intensive. These integration challenges can lead to operational disruptions, reduced productivity, and increased downtime, negatively impacting the overall efficiency of manufacturing processes. Furthermore, cybersecurity concerns are becoming more prominent as cutting equipment becomes more connected. Protecting sensitive data and ensuring the security of networked machines is critical, yet challenging, as cyber threats continue to evolve. These technological complexities and integration issues pose significant challenges to the widespread adoption and efficient utilization of advanced cutting equipment, thereby restraining market growth.

Market Segmentation Analysis

By Technology

Plasma cutting technology is widely used for its efficiency in cutting thick and conductive metals quickly and accurately, making it especially popular in the automotive and construction industries for cutting steel and aluminum. Its high cutting speed, precision, and lower operational costs compared to other methods make it a preferred choice for many manufacturers. Waterjet cutting technology, which uses a high-pressure stream of water mixed with abrasives to cut a wide variety of materials without causing thermal distortion, is highly valued in the aerospace and defense industries for its ability to cut intricate shapes and high-strength materials like titanium and composites without affecting their properties. Its eco-friendly nature and versatility contribute to its growing adoption. Flame cutting, also known as oxy-fuel cutting, remains a cost-effective solution for cutting thick steel plates in heavy industries such as shipbuilding and construction, despite being less precise than newer technologies. Additionally, other technologies like laser cutting, which offers high precision and speed, are extensively used in the electronics and automotive industries for producing intricate designs with minimal material waste. Emerging technologies such as ultrasonic cutting and electrical discharge machining (EDM) are also gaining traction for specialized applications.

By End User

The global cutting equipment market is essential across various industries, each with specific requirements driving the adoption of advanced technologies. In the automotive industry, the demand for lightweight, durable, and precisely cut components like body panels and engine parts promotes the use of laser and plasma cutting. Aerospace and defense sectors necessitate cutting equipment that can handle high-strength materials with exceptional precision, making waterjet and laser cutting indispensable for producing complex, safety-critical components. The electrical and electronics industry relies on laser cutting for manufacturing small, intricate parts with high accuracy for devices such as smartphones and circuit boards. In construction, plasma and flame cutting are used for processing large steel plates, while diamond tools are preferred for precise cutting of concrete and stone. Other end-users, including shipbuilding, textiles, and medical device manufacturing, adopt various cutting technologies tailored to their unique needs, further driving market growth and innovation.

Segments

Based on Technology

Plasma Cutting
Waterjet Cutting
Flame Cutting
Other Technologies

Based on End User

Automotive
Aerospace and Defense
Electrical and Electronics
Construction
Other End-Users

Based on Region

North America
- US
- Canada
- Mexico
Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- South-east Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa
- GCC Countries
- South Africa
- Rest of the Middle East and Africa

Regional Analysis

Asia-Pacific (40%):

The Asia-Pacific region dominates the global cutting equipment market, holding approximately 40% of the total market share. This dominance is attributed to rapid industrialization, significant investments in manufacturing, and the presence of major automotive, aerospace, and electronics industries. Countries like China, India, and Japan are key drivers of market growth in this region. China’s robust manufacturing sector and large-scale production capabilities make it a crucial player in the cutting equipment market. India is witnessing increased demand for cutting equipment due to its expanding automotive and construction sectors. Japan, known for its technological advancements and high-quality manufacturing processes, significantly contributes to the market with its demand for precision cutting technologies.

North America (25%):

North America holds a substantial market share of around 25% in the global cutting equipment market. The region’s strong industrial base, particularly in the automotive, aerospace, and defense sectors, drives the demand for advanced cutting technologies. The United States is the leading country in this region, supported by continuous technological advancements, high demand for precision manufacturing, and the presence of leading cutting equipment manufacturers. Canada also contributes to market growth, with increasing investments in infrastructure and the aerospace industry.

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Key players

The Lincoln Electric Company
Messer Cutting Systems
Genstar Technologies
Colfax Corporation
Linde Group
Struers
Ador Welding Ltd.
GCE Group
DAIHEN Corporation
Hypertherm
Amada Miyachi
Koike Aronson, Inc
Kennametal
TRUMPF GmbH + Co. KG
Bystronic Laser AG

Competitive Analysis

The global cutting equipment market is highly competitive, with several key players striving to maintain and enhance their market positions through innovation, strategic acquisitions, and geographical expansion. Companies like TRUMPF GmbH + Co. KG and Bystronic Laser AG lead the market with their advanced laser cutting technologies and strong focus on research and development. Hypertherm and The Lincoln Electric Company are known for their extensive product portfolios and robust global distribution networks. Messer Cutting Systems and Colfax Corporation leverage their technological expertise to offer a wide range of cutting solutions, catering to various industrial needs. Additionally, companies like Kennametal and Genstar Technologies emphasize high-quality cutting tools and precision equipment. The competitive landscape is characterized by continuous advancements in technology, increasing automation, and the integration of smart manufacturing solutions, which drive the market forward and meet evolving customer demands.

Recent Developments

In July 2022, Lincoln Electric introduced the POWER MIG 215 MPi multi-process welder. This lightweight machine features dual-input voltage capabilities and a new ergonomic design. It is designed to provide users with increased flexibility and ease of use, catering to a wide range of welding applications. The innovative design and functionality of the POWER MIG 215 MPi highlight Lincoln Electric’s commitment to advancing welding technology and meeting the evolving needs of professionals in the industry.

In February 2022, Messer Cutting Systems, through an affiliate company, acquired Flame Technologies, Inc. (Flame Tech), a US-based manufacturer specializing in oxyfuel products. This strategic acquisition strengthens Messer Cutting Systems’ position as an international solution provider in the oxyfuel, steel mill, and pre-heating sectors. By integrating Flame Tech’s product offerings and expertise, Messer Cutting Systems aims to enhance its market presence and deliver comprehensive solutions to its global customer base.

In July 2022, Lincoln Electric announced the availability of the POWER MIG 215 MPi multi-process welder. This lightweight, dual-input voltage machine boasts a new ergonomic design, enhancing user comfort and operational efficiency. The POWER MIG 215 MPi is designed to meet diverse welding needs, reflecting Lincoln Electric’s dedication to providing advanced, user-friendly welding solutions.

Market Concentration and Characteristics

The global cutting equipment market is characterized by moderate to high market concentration, with several dominant players such as TRUMPF GmbH + Co. KG, Lincoln Electric, and Hypertherm holding significant market shares. These companies drive innovation and set industry standards through continuous advancements in cutting technologies and strategic acquisitions. The market is highly competitive, with a focus on precision, efficiency, and automation. Key characteristics include the integration of advanced technologies like IoT and AI for real-time monitoring and predictive maintenance, and a growing emphasis on sustainability and energy efficiency. The market also exhibits a strong regional presence, with Asia-Pacific leading due to rapid industrialization and robust manufacturing activities.

Report Coverage

The research report offers an in-depth analysis based on Technology, End User and Region. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.

Future Outlook

The global cutting equipment market will continue integrating advanced technologies like AI, IoT, and robotics, enhancing precision and operational efficiency across various industries.

The adoption of automation and smart manufacturing practices will rise, driving demand for cutting equipment that supports real-time monitoring, predictive maintenance, and seamless production processes.

Increased emphasis on sustainability will lead to the development and adoption of energy-efficient and eco-friendly cutting technologies, aligning with global environmental goals and regulations.

Emerging markets, particularly in Asia-Pacific and Latin America, will see significant growth due to rapid industrialization, infrastructure development, and expanding manufacturing sectors.

Manufacturers will increasingly seek cutting equipment that offers customization and flexibility to meet specific industry requirements, leading to innovations in machine design and functionality.

The market is likely to experience consolidation through mergers and acquisitions, as leading players seek to expand their technological capabilities and global reach.

The development of advanced software solutions, including CAD/CAM integration and cloud-based platforms, will enhance the capabilities and user-friendliness of cutting equipment.

The demand for high-precision cutting equipment will grow, particularly in industries such as aerospace, automotive, and electronics, where accuracy and quality are paramount.

Digital transformation will play a critical role, with cutting equipment increasingly featuring digital interfaces and connectivity options for improved control and data analysis.

The need for a skilled workforce capable of operating and maintaining advanced cutting equipment will rise, prompting investments in training and education programs to bridge the skills gap.

CHAPTER NO. 1 : INTRODUCTION 19

1.1.1. Report Description 19

Purpose of the Report 19

USP & Key Offerings 19

1.1.2. Key Benefits for Stakeholders 19

1.1.3. Target Audience 20

1.1.4. Report Scope 20

CHAPTER NO. 2 : EXECUTIVE SUMMARY 21

2.1. Cutting Equipment Market Snapshot 21

2.1.1. Global Cutting Equipment Market, 2018 – 2032 (USD Million) 22

CHAPTER NO. 3 : GEOPOLITICAL CRISIS IMPACT ANALYSIS 23

3.1. Russia-Ukraine and Israel-Palestine War Impacts 23

CHAPTER NO. 4 : CUTTING EQUIPMENT MARKET – INDUSTRY ANALYSIS 24

4.1. Introduction 24

4.2. Market Drivers 25

4.2.1. Driving Factor 1 Analysis 25

4.2.2. Driving Factor 2 Analysis 26

4.3. Market Restraints 27

4.3.1. Restraining Factor Analysis 27

4.4. Market Opportunities 28

4.4.1. Market Opportunity Analysis 28

4.5. Porter’s Five Forces Analysis 29

CHAPTER NO. 5 : ANALYSIS COMPETITIVE LANDSCAPE 30

5.1. Company Market Share Analysis – 2023 30

5.1.1. Global Cutting Equipment Market: Company Market Share, by Volume, 2023 30

5.1.2. Global Cutting Equipment Market: Company Market Share, by Revenue, 2023 31

5.1.3. Global Cutting Equipment Market: Top 6 Company Market Share, by Revenue, 2023 31

5.1.4. Global Cutting Equipment Market: Top 3 Company Market Share, by Revenue, 2023 32

5.2. Global Cutting Equipment Market Company Revenue Market Share, 2023 33

5.3. Company Assessment Metrics, 2023 34

5.3.1. Stars 34

5.3.2. Emerging Leaders 34

5.3.3. Pervasive Players 34

5.3.4. Participants 34

5.4. Start-ups /SMEs Assessment Metrics, 2023 34

5.4.1. Progressive Companies 34

5.4.2. Responsive Companies 34

5.4.3. Dynamic Companies 34

5.4.4. Starting Blocks 34

5.5. Strategic Developments 35

5.5.1. Acquisitions & Mergers 35

New Product Launch 35

Global Expansion 35

5.6. Key Players Product Matrix 36

CHAPTER NO. 6 : PESTEL & ADJACENT MARKET ANALYSIS 37

6.1. PESTEL 37

6.1.1. Political Factors 37

6.1.2. Economic Factors 37

6.1.3. Social Factors 37

6.1.4. Technological Factors 37

6.1.5. Environmental Factors 37

6.1.6. Legal Factors 37

6.2. Adjacent Market Analysis 37

CHAPTER NO. 7 : CUTTING EQUIPMENT MARKET – BY TECHNOLOGY SEGMENT ANALYSIS 38

7.1. Cutting Equipment Market Overview, by Technology Segment 38

7.1.1. Cutting Equipment Market Revenue Share, By Technology, 2023 & 2032 39

7.1.2. Cutting Equipment Market Attractiveness Analysis, By Technology 40

7.1.3. Incremental Revenue Growth Opportunity, by Technology, 2024 – 2032 40

7.1.4. Cutting Equipment Market Revenue, By Technology, 2018, 2023, 2027 & 2032 41

7.2. Laser 42

7.3. Plasma 43

7.4. Waterjet 44

7.5. Flame 45

7.6. Other Technologies 46

CHAPTER NO. 8 : CUTTING EQUIPMENT MARKET – BY END-USER SEGMENT ANALYSIS 47

8.1. Cutting Equipment Market Overview, by End-user Segment 47

8.1.1. Cutting Equipment Market Revenue Share, By End-user, 2023 & 2032 48

8.1.2. Cutting Equipment Market Attractiveness Analysis, By End-user 49

8.1.3. Incremental Revenue Growth Opportunity, by End-user, 2024 – 2032 49

8.1.4. Cutting Equipment Market Revenue, By End-user, 2018, 2023, 2027 & 2032 50

8.2. Automotive 51

8.3. Aerospace and Defense 52

8.4. Electrical and Electronics 53

8.5. Construction 54

8.6. Other End-Users 55

CHAPTER NO. 9 : CUTTING EQUIPMENT MARKET – GLOBAL ANALYSIS 56

9.1. Technology 56

9.1.1. Global Cutting Equipment Market Revenue, By Technology, 2018 – 2023 (USD Million) 56

9.1.2. Global Cutting Equipment Market Revenue, By Technology, 2024 – 2032 (USD Million) 56

9.2. End-user 57

9.2.1. Global Cutting Equipment Market Revenue, By End-user, 2018 – 2023 (USD Million) 57

9.2.2. Global Cutting Equipment Market Revenue, By End-user, 2024 – 2032 (USD Million) 57

CHAPTER NO. 10 : CUTTING EQUIPMENT MARKET – NORTH AMERICA 58

10.1. North America 58

10.1.1. Key Highlights 58

10.1.2. North America Cutting Equipment Market Revenue, By Country, 2018 – 2023 (USD Million) 59

10.1.3. North America Cutting Equipment Market Revenue, By End-user, 2018 – 2023 (USD Million) 60

10.1.4. North America Cutting Equipment Market Revenue, By Technology, 2018 – 2023 (USD Million) 61

10.2. U.S. 62

10.3. Canada 62

10.4. Mexico 62

CHAPTER NO. 11 : CUTTING EQUIPMENT MARKET – EUROPE 63

11.1. Europe 63

11.1.1. Key Highlights 63

11.1.2. Europe Cutting Equipment Market Revenue, By Country, 2018 – 2023 (USD Million) 64

11.1.3. Europe Cutting Equipment Market Revenue, By End-user, 2018 – 2023 (USD Million) 65

11.1.4. Europe Cutting Equipment Market Revenue, By Technology, 2018 – 2023 (USD Million) 66

11.2. UK 67

11.3. France 67

11.4. Germany 67

11.5. Italy 67

11.6. Spain 67

11.7. Russia 67

11.8. Belgium 67

11.9. Netherland 67

11.10. Austria 67

11.11. Sweden 67

11.12. Poland 67

11.13. Denmark 67

11.14. Switzerland 67

11.15. Rest of Europe 67

CHAPTER NO. 12 : CUTTING EQUIPMENT MARKET – ASIA PACIFIC 68

12.1. Asia Pacific 68

12.1.1. Key Highlights 68

12.1.2. Asia Pacific Cutting Equipment Market Revenue, By Country, 2018 – 2023 (USD Million) 69

12.1.3. Asia Pacific Cutting Equipment Market Revenue, By End-user, 2018 – 2023 (USD Million) 70

12.1.4. Asia Pacific Cutting Equipment Market Revenue, By Technology, 2018 – 2023 (USD Million) 71

12.2. China 72

12.3. Japan 72

12.4. South Korea 72

12.5. India 72

12.6. Australia 72

12.7. Thailand 72

12.8. Indonesia 72

12.9. Vietnam 72

12.10. Malaysia 72

12.11. Philippines 72

12.12. Taiwan 72

12.13. Rest of Asia Pacific 72

CHAPTER NO. 13 : CUTTING EQUIPMENT MARKET – LATIN AMERICA 73

13.1. Latin America 73

13.1.1. Key Highlights 73

13.1.2. Latin America Cutting Equipment Market Revenue, By Country, 2018 – 2023 (USD Million) 74

13.1.3. Latin America Cutting Equipment Market Revenue, By End-user, 2018 – 2023 (USD Million) 75

13.1.4. Latin America Cutting Equipment Market Revenue, By Technology, 2018 – 2023 (USD Million) 76

13.2. Brazil 77

13.3. Argentina 77

13.4. Peru 77

13.5. Chile 77

13.6. Colombia 77

13.7. Rest of Latin America 77

CHAPTER NO. 14 : CUTTING EQUIPMENT MARKET – MIDDLE EAST 78

14.1. Middle East 78

14.1.1. Key Highlights 78

14.1.2. Middle East Cutting Equipment Market Revenue, By Country, 2018 – 2023 (USD Million) 79

14.1.3. Middle East Cutting Equipment Market Revenue, By End-user, 2018 – 2023 (USD Million) 80

14.1.4. Middle East Cutting Equipment Market Revenue, By Technology, 2018 – 2023 (USD Million) 81

14.2. UAE 82

14.3. KSA 82

14.4. Israel 82

14.5. Turkey 82

14.6. Iran 82

14.7. Rest of Middle East 82

CHAPTER NO. 15 : CUTTING EQUIPMENT MARKET – AFRICA 83

15.1. Africa 83

15.1.1. Key Highlights 83

15.1.2. Africa Cutting Equipment Market Revenue, By Country, 2018 – 2023 (USD Million) 84

15.1.3. Africa Cutting Equipment Market Revenue, By End-user, 2018 – 2023 (USD Million) 85

15.1.4. Africa Cutting Equipment Market Revenue, By Technology, 2018 – 2023 (USD Million) 86

15.2. Egypt 87

15.3. Nigeria 87

15.4. Algeria 87

15.5. Morocco 87

15.6. Rest of Africa 87

CHAPTER NO. 16 : COMPANY PROFILES 88

16.1. The Lincoln Electric Company 88

16.1.1. Company Overview 88

16.1.2. Product Portfolio 88

16.1.3. Swot Analysis 88

16.1.4. Business Strategy 89

16.1.5. Financial Overview 89

16.2. Messer Cutting Systems 90

16.3. Genstar Technologies 90

16.4. Colfax Corporation 90

16.5. Linde Group 90

16.6. Struers 90

16.7. Ador Welding Ltd. 90

16.8. GCE Group 90

16.9. DAIHEN Corporation 90

16.10. Hypertherm 90

16.11. Amada Miyachi 90

16.12. Koike Aronson, Inc 90

16.13. Kennametal 90

16.14. TRUMPF GmbH + Co. KG 90

16.15. Bystronic Laser AG 90

CHAPTER NO. 17 : RESEARCH METHODOLOGY 91

17.1. Research Methodology 91

17.1.1. Phase I – Secondary Research 92

17.1.2. Phase II – Data Modeling 92

Company Share Analysis Model 93

Revenue Based Modeling 93

17.1.3. Phase III – Primary Research 94

17.1.4. Research Limitations 95

Assumptions 95

List of Figures

FIG NO. 1. Global Cutting Equipment Market Revenue, 2018 – 2032 (USD Million) 21

FIG NO. 2. Porter’s Five Forces Analysis for Global Cutting Equipment Market 28

FIG NO. 3. Company Share Analysis, 2023 29

FIG NO. 4. Company Share Analysis, 2023 30

FIG NO. 5. Company Share Analysis, 2023 30

FIG NO. 6. Company Share Analysis, 2023 31

FIG NO. 7. Cutting Equipment Market – Company Revenue Market Share, 2023 32

FIG NO. 8. Cutting Equipment Market Revenue Share, By Technology, 2023 & 2032 38

FIG NO. 9. Market Attractiveness Analysis, By Technology 39

FIG NO. 10. Incremental Revenue Growth Opportunity by Technology, 2024 – 2032 39

FIG NO. 11. Cutting Equipment Market Revenue, By Technology, 2018, 2023, 2027 & 2032 40

FIG NO. 12. Global Cutting Equipment Market for Laser, Revenue (USD Million) 2018 – 2032 41

FIG NO. 13. Global Cutting Equipment Market for Plasma, Revenue (USD Million) 2018 – 2032 42

FIG NO. 14. Global Cutting Equipment Market for Waterjet, Revenue (USD Million) 2018 – 2032 43

FIG NO. 15. Global Cutting Equipment Market for Flame, Revenue (USD Million) 2018 – 2032 44

FIG NO. 16. Global Cutting Equipment Market for Other Technologies, Revenue (USD Million) 2018 – 2032 45

FIG NO. 17. Cutting Equipment Market Revenue Share, By End-user, 2023 & 2032 47

FIG NO. 18. Market Attractiveness Analysis, By End-user 48

FIG NO. 19. Incremental Revenue Growth Opportunity by End-user, 2024 – 2032 48

FIG NO. 20. Cutting Equipment Market Revenue, By End-user, 2018, 2023, 2027 & 2032 49

FIG NO. 21. Global Cutting Equipment Market for Automotive, Revenue (USD Million) 2018 – 2032 50

FIG NO. 22. Global Cutting Equipment Market for Aerospace and Defense, Revenue (USD Million) 2018 – 2032 51

FIG NO. 23. Global Cutting Equipment Market for Electrical and Electronics, Revenue (USD Million) 2018 – 2032 52

FIG NO. 24. Global Cutting Equipment Market for Construction, Revenue (USD Million) 2018 – 2032 53

FIG NO. 25. Global Cutting Equipment Market for Other End-Users , Revenue (USD Million) 2018 – 2032 54

FIG NO. 26. North America Cutting Equipment Market Revenue, 2018 – 2032 (USD Million) 57

FIG NO. 27. Europe Cutting Equipment Market Revenue, 2018 – 2032 (USD Million) 62

FIG NO. 28. Asia Pacific Cutting Equipment Market Revenue, 2018 – 2032 (USD Million) 67

FIG NO. 29. Latin America Cutting Equipment Market Revenue, 2018 – 2032 (USD Million) 72

FIG NO. 30. Middle East Cutting Equipment Market Revenue, 2018 – 2032 (USD Million) 77

FIG NO. 31. Africa Cutting Equipment Market Revenue, 2018 – 2032 (USD Million) 82

FIG NO. 32. Research Methodology – Detailed View 90

FIG NO. 33. Research Methodology 91

List of Tables

TABLE NO. 1. : Global Cutting Equipment Market: Snapshot 19

TABLE NO. 2. : Drivers for the Cutting Equipment Market: Impact Analysis 23

TABLE NO. 3. : Restraints for the Cutting Equipment Market: Impact Analysis 25

TABLE NO. 4. : Global Cutting Equipment Market Revenue, By Technology, 2018 – 2023 (USD Million) 54

TABLE NO. 5. : Global Cutting Equipment Market Revenue, By Technology, 2024 – 2032 (USD Million) 54

TABLE NO. 6. : Global Cutting Equipment Market Revenue, By End-user, 2018 – 2023 (USD Million) 55

TABLE NO. 7. : Global Cutting Equipment Market Revenue, By End-user, 2024 – 2032 (USD Million) 55

TABLE NO. 8. : North America Cutting Equipment Market Revenue, By Country, 2018 – 2023 (USD Million) 57

TABLE NO. 9. : North America Cutting Equipment Market Revenue, By Country, 2024 – 2032 (USD Million) 57

TABLE NO. 10. : North America Cutting Equipment Market Revenue, By End-user, 2018 – 2023 (USD Million) 58

TABLE NO. 11. : North America Cutting Equipment Market Revenue, By End-user, 2024 – 2032 (USD Million) 58

TABLE NO. 12. : North America Cutting Equipment Market Revenue, By Technology, 2018 – 2023 (USD Million) 59

TABLE NO. 13. : North America Cutting Equipment Market Revenue, By Technology, 2024 – 2032 (USD Million) 59

TABLE NO. 14. : Europe Cutting Equipment Market Revenue, By Country, 2018 – 2023 (USD Million) 62

TABLE NO. 15. : Europe Cutting Equipment Market Revenue, By Country, 2024 – 2032 (USD Million) 62

TABLE NO. 16. : Europe Cutting Equipment Market Revenue, By End-user, 2018 – 2023 (USD Million) 63

TABLE NO. 17. : Europe Cutting Equipment Market Revenue, By End-user, 2024 – 2032 (USD Million) 63

TABLE NO. 18. : Europe Cutting Equipment Market Revenue, By Technology, 2018 – 2023 (USD Million) 64

TABLE NO. 19. : Europe Cutting Equipment Market Revenue, By Technology, 2024 – 2032 (USD Million) 64

TABLE NO. 20. : Asia Pacific Cutting Equipment Market Revenue, By Country, 2018 – 2023 (USD Million) 67

TABLE NO. 21. : Asia Pacific Cutting Equipment Market Revenue, By Country, 2024 – 2032 (USD Million) 67

TABLE NO. 22. : Asia Pacific Cutting Equipment Market Revenue, By End-user, 2018 – 2023 (USD Million) 68

TABLE NO. 23. : Asia Pacific Cutting Equipment Market Revenue, By End-user, 2024 – 2032 (USD Million) 68

TABLE NO. 24. : Asia Pacific Cutting Equipment Market Revenue, By Technology, 2018 – 2023 (USD Million) 69

TABLE NO. 25. : Asia Pacific Cutting Equipment Market Revenue, By Technology, 2024 – 2032 (USD Million) 69

TABLE NO. 26. : Latin America Cutting Equipment Market Revenue, By Country, 2018 – 2023 (USD Million) 72

TABLE NO. 27. : Latin America Cutting Equipment Market Revenue, By Country, 2024 – 2032 (USD Million) 72

TABLE NO. 28. : Latin America Cutting Equipment Market Revenue, By End-user, 2018 – 2023 (USD Million) 73

TABLE NO. 29. : Latin America Cutting Equipment Market Revenue, By End-user, 2024 – 2032 (USD Million) 73

TABLE NO. 30. : Latin America Cutting Equipment Market Revenue, By Technology, 2018 – 2023 (USD Million) 74

TABLE NO. 31. : Latin America Cutting Equipment Market Revenue, By Technology, 2024 – 2032 (USD Million) 74

TABLE NO. 32. : Middle East Cutting Equipment Market Revenue, By Country, 2018 – 2023 (USD Million) 77

TABLE NO. 33. : Middle East Cutting Equipment Market Revenue, By Country, 2024 – 2032 (USD Million) 77

TABLE NO. 34. : Middle East Cutting Equipment Market Revenue, By End-user, 2018 – 2023 (USD Million) 78

TABLE NO. 35. : Middle East Cutting Equipment Market Revenue, By End-user, 2024 – 2032 (USD Million) 78

TABLE NO. 36. : Middle East Cutting Equipment Market Revenue, By Technology, 2018 – 2023 (USD Million) 79

TABLE NO. 37. : Middle East Cutting Equipment Market Revenue, By Technology, 2024 – 2032 (USD Million) 79

TABLE NO. 38. : Africa Cutting Equipment Market Revenue, By Country, 2018 – 2023 (USD Million) 82

TABLE NO. 39. : Africa Cutting Equipment Market Revenue, By Country, 2024 – 2032 (USD Million) 82

TABLE NO. 40. : Africa Cutting Equipment Market Revenue, By End-user, 2018 – 2023 (USD Million) 83

TABLE NO. 41. : Africa Cutting Equipment Market Revenue, By End-user, 2024 – 2032 (USD Million) 83

TABLE NO. 42. : Africa Cutting Equipment Market Revenue, By Technology, 2018 – 2023 (USD Million) 84

TABLE NO. 43. : Africa Cutting Equipment Market Revenue, By Technology, 2024 – 2032 (USD Million) 84

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Frequently Asked Questions:

What is the projected growth of the global cutting equipment market?

The global cutting equipment market is expected to grow from USD 6,966.30 million in 2023 to USD 11,106.71 million by 2032, with a CAGR of 5.26% from 2024 to 2032.

What are the key drivers of growth in the cutting equipment market?

Key drivers include rapid industrialization, advancements in cutting technologies, increased focus on precision manufacturing, and the adoption of automation and IoT for real-time monitoring and predictive maintenance.

Which regions dominate the global cutting equipment market?

Asia-Pacific leads the market with the largest share, driven by industrial growth in China, India, and Japan, followed by significant market shares in North America and Europe due to technological advancements and high demand in automotive and aerospace industries.

How are technological advancements impacting the cutting equipment market?

Technological advancements such as laser cutting, plasma cutting, and waterjet cutting enhance precision, speed, and efficiency, while automation and IoT integration enable real-time monitoring, predictive maintenance, and increased production rates.

Who are the major players in the global cutting equipment market?

Major players include The Lincoln Electric Company, Messer Cutting Systems, Genstar Technologies, Colfax Corporation, Linde Group, Struers, Ador Welding Ltd., GCE Group, DAIHEN Corporation, Hypertherm, Amada Miyachi, Koike Aronson, Inc, Kennametal, TRUMPF GmbH + Co. KG, and Bystronic Laser AG.

About Author

Sushant Phapale

ICT & Automation Expert

Sushant is an expert in ICT, automation, and electronics with a passion for innovation and market trends.

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