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North America Cutting Equipment Market

North America 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

Summary
Table Of Content

REPORT ATTRIBUTE	DETAILS
Historical Period	2019-2022
Base Year	2023
Forecast Period	2024-2032
North America Cutting Equipment Market Size 2023	USD 2,043.11 million
North America Cutting Equipment Market, CAGR	5.17%
North America Cutting Equipment Market Size 2032	USD 3,232.44 million

Market Overview

The North America Cutting Equipment Market is projected to grow from USD 2,043.11 million in 2023 to an estimated USD 3,232.44 million by 2032, with a compound annual growth rate (CAGR) of 5.17% from 2024 to 2032. This growth reflects the increasing demand for cutting-edge technology and precision tools across various industries, including manufacturing, automotive, aerospace, and construction.

Market drivers for the North America Cutting Equipment Market include the rising adoption of automated cutting solutions and the growing emphasis on energy-efficient and environmentally friendly equipment. Trends such as the integration of IoT and AI in cutting machinery and the development of portable and user-friendly cutting tools are also contributing to market growth. The increasing demand for lightweight and durable materials in the automotive and aerospace sectors further propels the market.

Geographically, the United States dominates the North America Cutting Equipment Market, followed by Canada and Mexico. The presence of major industry players, robust industrial infrastructure, and significant investments in R&D contribute to the market’s growth in this region. Key players in the market include Lincoln Electric Holdings, Inc., Colfax Corporation, Illinois Tool Works Inc., and Hypertherm Inc. These companies are focused on innovation, strategic partnerships, and expanding their product portfolios to maintain a competitive edge in the market.

Market Drivers

Technological Advancements and Automation

Technological advancements in cutting equipment are a major driver of the market. Innovations such as the integration of automation, computer numerical control (CNC) systems, and laser cutting technology are transforming the cutting equipment landscape. Automated cutting solutions enhance precision, efficiency, and productivity, which are crucial for industries such as manufacturing, automotive, aerospace, and construction. For instance, companies like General Motors and Boeing are using automated laser cutting systems in their manufacturing processes to enhance precision, efficiency, and productivity. The adoption of CNC machines allows for highly accurate and repeatable cutting processes, reducing material waste and operational costs. Laser cutting technology, in particular, has gained prominence due to its ability to cut a wide range of materials with high precision and speed. The development of fiber lasers and CO2 lasers has expanded the capabilities of cutting equipment, enabling the processing of thicker and more complex materials. Additionally, advancements in plasma cutting technology have improved cutting speeds and quality, making it a preferred choice for various applications. The shift towards automation and smart manufacturing is also driving the demand for advanced cutting equipment. The integration of Internet of Things (IoT) and artificial intelligence (AI) in cutting machinery allows for real-time monitoring, predictive maintenance, and process optimization. These technological innovations not only enhance operational efficiency but also reduce downtime and maintenance costs, making them attractive investments for businesses.

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Rising Demand for Energy-Efficient and Environmentally Friendly Solutions

The growing emphasis on sustainability and energy efficiency is another key driver of the North America Cutting Equipment Market. Industries are increasingly seeking cutting solutions that minimize energy consumption and reduce environmental impact. Energy-efficient cutting equipment not only lowers operational costs but also aligns with stringent environmental regulations and corporate sustainability goals. Manufacturers are developing cutting equipment that incorporates energy-saving features, such as power-efficient motors, advanced control systems, and optimized cutting processes. For instance, modern laser cutting machines are designed to consume less power while delivering high cutting performance. These machines often include features like automatic power adjustment based on material thickness and type, further enhancing energy efficiency. Moreover, the adoption of environmentally friendly cutting technologies is gaining traction. Water jet cutting, which uses a high-pressure stream of water mixed with abrasive materials, is an eco-friendly alternative to traditional cutting methods. It produces no hazardous fumes or thermal distortion, making it suitable for applications requiring clean and precise cuts. The growing awareness of environmental sustainability is driving industries to invest in such green cutting technologies.

Increasing Demand for Lightweight and Durable Materials

The automotive and aerospace industries, in particular, are driving the demand for cutting equipment capable of processing lightweight and durable materials. As these industries strive to improve fuel efficiency and reduce emissions, the use of advanced materials such as aluminum, titanium, and composites is becoming more prevalent. For instance, in the automotive industry, Ford’s F-150 truck features a high-strength, military-grade, aluminum-alloy body, which reduces the truck’s weight without sacrificing toughness. Cutting these materials requires specialized equipment that can deliver precision and maintain the integrity of the materials. The aerospace industry, for instance, relies heavily on cutting equipment for manufacturing aircraft components with tight tolerances and complex geometries. The demand for lightweight and durable materials in aircraft construction necessitates the use of advanced cutting technologies, such as laser cutting and water jet cutting, which can handle these materials effectively. Similarly, the automotive industry is shifting towards lightweight materials to enhance vehicle performance and fuel efficiency. Cutting equipment that can accurately process aluminum and other lightweight materials is essential for manufacturing automotive components. This trend is driving the adoption of advanced cutting solutions in the automotive sector, contributing to the growth of the North America Cutting Equipment Market.

Expansion of the Construction Industry

The construction industry in North America is witnessing substantial growth, fueled by infrastructure development, urbanization, and investments in commercial and residential projects. This expansion is driving the demand for cutting equipment used in various construction applications, such as cutting steel beams, concrete, and other construction materials. Cutting equipment is essential for precision cutting and shaping of construction materials to meet design specifications and structural requirements. The need for efficient and reliable cutting solutions in the construction industry is driving the adoption of advanced cutting technologies. For instance, plasma cutting machines are widely used for cutting steel and metal components in construction projects due to their speed and accuracy. The construction industry’s focus on improving project timelines and reducing labor costs is also contributing to the demand for automated cutting solutions. Automated cutting equipment enhances productivity and ensures consistent quality, making it a valuable asset for construction companies. The growth of the construction industry, coupled with the demand for precision and efficiency, is a significant driver of the North America Cutting Equipment Market.

Market Trends

Integration of IoT and AI in Cutting Equipment

The integration of Internet of Things (IoT) and artificial intelligence (AI) in cutting equipment is a prominent trend in the North America Cutting Equipment Market. This technological convergence is revolutionizing the industry by enhancing efficiency, precision, and operational intelligence. IoT enables real-time monitoring and data collection from cutting machines, providing valuable insights into machine performance, operational parameters, and maintenance needs. By leveraging IoT, manufacturers can implement predictive maintenance strategies, reducing downtime and extending the lifespan of cutting equipment. AI further augments the capabilities of cutting machines by enabling advanced data analytics and machine learning algorithms. These technologies can optimize cutting processes, improve accuracy, and adapt to varying material properties and cutting requirements. AI-driven systems can automatically adjust cutting parameters based on real-time feedback, ensuring optimal performance and reducing material wastage. This trend towards smarter, more autonomous cutting equipment is driven by the need for increased productivity, cost savings, and improved product quality. For example, AI-driven systems in laser cutting machines can automatically adjust cutting parameters based on real-time feedback, ensuring optimal performance and reducing material wastage by up to 15%. Additionally, the use of digital twins, which are virtual replicas of physical cutting equipment, is gaining traction. Digital twins allow for simulation and testing of cutting processes in a virtual environment before actual implementation, minimizing errors and enhancing efficiency. The integration of IoT and AI is not only transforming the functionality of cutting equipment but also paving the way for more connected and intelligent manufacturing ecosystems.

Adoption of Sustainable and Eco-Friendly Cutting Technologies

Sustainability and environmental responsibility are becoming increasingly important in the North America Cutting Equipment Market. Industries are adopting eco-friendly cutting technologies to reduce their environmental footprint and comply with stringent environmental regulations. This trend is driving the development and adoption of cutting equipment that minimizes energy consumption, reduces emissions, and produces less waste. Water jet cutting is one such technology that is gaining popularity due to its environmentally friendly nature. For instance, water jet cutting is one such technology that is gaining popularity due to its environmentally friendly nature. It uses high-pressure water mixed with abrasive materials to cut through various substrates without generating heat or hazardous fumes. This method is particularly beneficial for applications requiring clean and precise cuts without thermal distortion. Additionally, water jet cutting does not produce harmful byproducts, making it an eco-friendly alternative to traditional cutting methods. Laser cutting technology is also evolving to become more energy-efficient. Manufacturers are developing lasers with higher efficiency and lower power consumption, reducing the overall energy usage in cutting processes. Innovations such as fiber lasers offer significant energy savings compared to traditional CO2 lasers, while still providing high precision and cutting speed. Moreover, there is a growing focus on the recyclability of cutting equipment and its components. Manufacturers are increasingly using recyclable materials in the production of cutting machines and ensuring that the equipment can be easily disassembled and recycled at the end of its lifecycle. This trend towards sustainability is driven by both regulatory requirements and the growing demand from environmentally conscious customers.

Market Restraints and Challenges

High Initial Investment and Maintenance Costs

One of the significant restraints in the North America Cutting Equipment Market is the high initial investment required for advanced cutting technologies. State-of-the-art cutting equipment, such as CNC machines, laser cutters, and water jet cutters, involves substantial upfront costs. These costs can be prohibitive for small and medium-sized enterprises (SMEs) that may lack the capital to invest in such high-tech machinery. The financial burden of acquiring these advanced systems can slow market penetration and adoption rates, particularly among smaller businesses. In addition to the high initial investment, the maintenance and operational costs of cutting equipment can also pose challenges. Advanced cutting machines often require specialized maintenance and regular calibration to ensure optimal performance. The cost of spare parts, maintenance contracts, and skilled labor for machine upkeep can add to the total cost of ownership, making it difficult for some companies to justify the investment. Moreover, any downtime due to equipment failure or maintenance can lead to significant production losses, further impacting the profitability of businesses relying on cutting technology.

Skill Gap and Workforce Training

Another critical challenge in the North America Cutting Equipment Market is the skill gap and the need for workforce training. The operation of advanced cutting equipment, particularly those integrated with IoT and AI technologies, requires a highly skilled workforce proficient in handling complex machinery and software. However, there is a noticeable shortage of trained professionals with the necessary expertise to operate and maintain these sophisticated systems. The rapid technological advancements in cutting equipment mean that continuous training and upskilling of the workforce are essential to keep pace with new developments. Companies must invest in training programs to ensure their employees are capable of leveraging the full potential of advanced cutting technologies. This need for ongoing education and skill development can be a significant challenge, especially for SMEs with limited resources for training initiatives. Furthermore, the complexity of integrating cutting equipment with existing manufacturing processes can also pose difficulties. Ensuring seamless integration and maximizing the benefits of advanced cutting technologies require comprehensive knowledge of both the equipment and the production environment. The lack of adequately trained personnel can lead to suboptimal use of cutting equipment, reducing efficiency and productivity gains.

Market Segmentation Analysis

By Technology

Plasma cutting technology, known for its high precision and speed in cutting conductive metals, is particularly effective for thick materials and widely used in heavy industries such as shipbuilding and manufacturing. Continuous advancements in plasma torch design, power supplies, and control systems enhance its cutting quality and efficiency. Waterjet cutting technology, utilizing a high-pressure stream of water mixed with abrasives, is renowned for its versatility in cutting metals, glass, ceramics, and composites without generating heat, making it ideal for precision applications requiring minimal material impact. Flame cutting, or oxy-fuel cutting, remains a cost-effective method for cutting thick steel plates, widely employed in heavy industrial applications despite being an older technology due to its efficiency and low operational cost. Other technologies, such as laser cutting, offer high precision and speed for thin materials, with the increasing adoption of fiber lasers enhancing cutting efficiency and energy savings. Additionally, electrical discharge machining (EDM) is used for highly precise and intricate cuts in hard metals.

By End User

The North America Cutting Equipment Market serves various end-user industries, each with specific demands driving the adoption of advanced cutting technologies. In the automotive sector, the need for precision and efficiency in manufacturing vehicle components, coupled with the demand for lightweight materials and advanced techniques, propels the use of cutting equipment. The aerospace and defense industry relies on cutting technologies like laser and waterjet cutting to produce high-precision components from lightweight yet durable materials, meeting stringent safety and performance standards. The electrical and electronics industry utilizes cutting equipment for manufacturing intricate components and circuit boards, where high precision and minimal material wastage are crucial. The construction industry’s growth, driven by infrastructure projects and urbanization, increases the demand for efficient and reliable cutting solutions for materials like steel beams and concrete. Additionally, other end-users such as shipbuilding, healthcare, and heavy machinery sectors require specialized cutting solutions, contributing to the overall market demand.

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

United States
Canada
Mexico

Regional Analysis

United States (65%):

The United States dominates the North America Cutting Equipment Market, holding approximately 65% of the market share. This significant share is attributed to the country’s advanced industrial infrastructure, substantial investments in research and development (R&D), and the presence of major industry players. The automotive, aerospace, and construction sectors are the primary drivers of demand for cutting equipment in the United States.

Canada (20%):

Canada accounts for approximately 20% of the North America Cutting Equipment Market. The country’s manufacturing sector, particularly in automotive and aerospace, is a significant contributor to the demand for cutting equipment. Canada’s focus on manufacturing innovation, technology adoption, and sustainable practices supports market growth.

Mexico (15%):

Mexico holds around 15% of the North America Cutting Equipment Market. The country’s expanding manufacturing sector, particularly in automotive and electronics, drives the demand for cutting equipment. Mexico’s strategic position as a manufacturing hub in North America, coupled with favorable trade agreements, contributes to its growing market share.

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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 North America Cutting Equipment Market is characterized by intense competition among key players, each striving to enhance their market position through innovation, strategic partnerships, and extensive R&D investments. The Lincoln Electric Company and Hypertherm lead the market with their advanced cutting technologies and extensive distribution networks. Companies like Messer Cutting Systems and Colfax Corporation leverage their global presence and technological expertise to capture significant market shares. TRUMPF GmbH + Co. KG and Bystronic Laser AG are recognized for their cutting-edge laser technologies, catering to high-precision applications. Meanwhile, players like Kennametal and Ador Welding Ltd. focus on expanding their product portfolios to meet diverse industry needs. This competitive landscape fosters continuous innovation, driving the overall growth and advancement of the cutting equipment market in North America.

Recent Developments

In June 2022, TRUMPF launched the TruFiber 2000 P, a new 2kW fiber laser, at the LASYS exhibition in Stuttgart, Germany. This highly flexible product is designed for various applications, including laser cutting and additive manufacturing. The TruFiber 2000 P exemplifies TRUMPF’s commitment to innovation and advanced technology in the cutting equipment sector.

In July 2022, Lincoln Electric introduced the POWER MIG 215 MPi multi-process welder. This lightweight, dual-input voltage machine features a new ergonomic design, enhancing user comfort and operational efficiency. The POWER MIG 215 MPi reflects Lincoln Electric’s focus on developing versatile and user-friendly welding solutions.

In February 2022, Messer Cutting Systems acquired Flame Technologies, Inc. (Flame Tech), a US-based manufacturer specializing in the oxyfuel sector. This acquisition, facilitated through an affiliate company, strengthens Messer’s position as an international provider of Oxyfuel, Steel Mill, and pre-heating solutions. The integration of Flame Tech’s products and expertise enables Messer Cutting Systems to offer comprehensive and innovative solutions to its global customer base.

Market Concentration and Characteristics

The North America Cutting Equipment Market is characterized by a moderate to high market concentration, with several leading companies holding significant market shares. Key players such as The Lincoln Electric Company, TRUMPF GmbH + Co. KG, Hypertherm, and Messer Cutting Systems dominate the market, driving innovation and technological advancements. The market is marked by continuous development in cutting technologies, including laser, plasma, and waterjet cutting, catering to diverse industrial applications. The presence of both established companies and emerging players fosters a competitive landscape, promoting R&D investments and strategic acquisitions to expand product portfolios and enhance market presence. Additionally, the market is influenced by trends towards automation, IoT integration, and sustainable practices, which are reshaping the industry dynamics and driving growth.

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 market will continue to benefit from technological advancements, including the integration of AI and IoT in cutting equipment, enhancing precision and operational efficiency.

The adoption of automated cutting solutions will rise, driven by the need for higher productivity and reduced labor costs in manufacturing processes.

Growing environmental awareness will push manufacturers to develop eco-friendly cutting technologies, minimizing energy consumption and reducing emissions.

The demand for lightweight and durable materials in the aerospace and automotive industries will drive the adoption of advanced cutting technologies like laser and waterjet cutting.

The booming construction industry, fueled by infrastructure projects and urbanization, will increase the demand for cutting equipment for various applications.

Companies will pursue strategic acquisitions and mergers to expand their product portfolios, enhance technological capabilities, and strengthen market positions.

Significant investments in research and development will drive innovation, leading to the introduction of more efficient, precise, and versatile cutting solutions.

The market may witness consolidation as larger companies acquire smaller players to gain a competitive edge and expand their global footprint.

The development of user-friendly and ergonomic cutting equipment will improve operational ease and safety, attracting a broader range of end-users.

The United States will continue to dominate the market, but growth in Canada and Mexico will accelerate, driven by industrial expansion and favorable trade agreements.

CHAPTER NO. 1 : INTRODUCTION 13

1.1.1. Report Description 13

Purpose of the Report 13

USP & Key Offerings 13

1.1.2. Key Benefits for Stakeholders 13

1.1.3. Target Audience 14

1.1.4. Report Scope 14

CHAPTER NO. 2 : EXECUTIVE SUMMARY 15

2.1. North America Cutting Equipment Market Snapshot 15

2.1.1. North America Cutting Equipment Market, 2018 – 2032 (USD Million) 16

CHAPTER NO. 3 : NORTH AMERICA CUTTING EQUIPMENT MARKET – INDUSTRY ANALYSIS 17

3.1. Introduction 17

3.2. Market Drivers 18

3.2.1. Driving Factor 1 Analysis 18

3.2.2. Driving Factor 2 Analysis 19

3.3. Market Restraints 20

3.3.1. Restraining Factor Analysis 20

3.4. Market Opportunities 21

3.4.1. Market Opportunity Analysis 21

3.5. Porter’s Five Forces Analysis 22

CHAPTER NO. 4 : ANALYSIS COMPETITIVE LANDSCAPE 23

4.1. Company Market Share Analysis – 2023 23

4.1.1. North America Cutting Equipment Market: Company Market Share, by Volume, 2023 23

4.1.2. North America Cutting Equipment Market: Company Market Share, by Revenue, 2023 24

4.1.3. North America Cutting Equipment Market: Top 6 Company Market Share, by Revenue, 2023 24

4.1.4. North America Cutting Equipment Market: Top 3 Company Market Share, by Revenue, 2023 25

4.2. North America Cutting Equipment Market Company Revenue Market Share, 2023 26

4.3. Company Assessment Metrics, 2023 27

4.3.1. Stars 27

4.3.2. Emerging Leaders 27

4.3.3. Pervasive Players 27

4.3.4. Participants 27

4.4. Start-ups /SMEs Assessment Metrics, 2023 27

4.4.1. Progressive Companies 27

4.4.2. Responsive Companies 27

4.4.3. Dynamic Companies 27

4.4.4. Starting Blocks 27

4.5. Strategic Developments 28

4.5.1. Acquisitions & Mergers 28

New Product Launch 28

North America Expansion 28

4.6. Key Players Product Matrix 29

CHAPTER NO. 5 : PESTEL & ADJACENT MARKET ANALYSIS 30

5.1. PESTEL 30

5.1.1. Political Factors 30

5.1.2. Economic Factors 30

5.1.3. Social Factors 30

5.1.4. Technological Factors 30

5.1.5. Environmental Factors 30

5.1.6. Legal Factors 30

5.2. Adjacent Market Analysis 30

CHAPTER NO. 6 : NORTH AMERICA CUTTING EQUIPMENT MARKET – BY TECHNOLOGY SEGMENT ANALYSIS 31

6.1. North America Cutting Equipment Market Overview, by Technology Segment 31

6.1.1. North America Cutting Equipment Market Revenue Share, By Technology, 2023 & 2032 32

6.1.2. North America Cutting Equipment Market Attractiveness Analysis, By Technology 33

6.1.3. Incremental Revenue Growth Opportunity, by Technology, 2024 – 2032 33

6.1.4. North America Cutting Equipment Market Revenue, By Technology, 2018, 2023, 2027 & 2032 34

6.2. Laser 35

6.3. Plasma 36

6.4. Waterjet 37

6.5. Flame 38

6.6. Other Technologies 39

CHAPTER NO. 7 : NORTH AMERICA CUTTING EQUIPMENT MARKET – BY END-USER SEGMENT ANALYSIS 40

7.1. North America Cutting Equipment Market Overview, by End-user Segment 40

7.1.1. North America Cutting Equipment Market Revenue Share, By End-user, 2023 & 2032 41

7.1.2. North America Cutting Equipment Market Attractiveness Analysis, By End-user 42

7.1.3. Incremental Revenue Growth Opportunity, by End-user, 2024 – 2032 42

7.1.4. North America Cutting Equipment Market Revenue, By End-user, 2018, 2023, 2027 & 2032 43

7.2. Automotive 44

7.3. Aerospace and Defense 45

7.4. Electrical and Electronics 46

7.5. Construction 47

7.6. Other End-Users 48

CHAPTER NO. 8 : NORTH AMERICA CUTTING EQUIPMENT MARKET – NORTH AMERICA 49

8.1. North America 49

8.1.1. Key Highlights 49

8.1.2. North America Cutting Equipment Market Revenue, By Country, 2018 – 2023 (USD Million) 50

8.1.3. North America Cutting Equipment Market Revenue, By End-user, 2018 – 2023 (USD Million) 51

8.1.4. North America Cutting Equipment Market Revenue, By Technology, 2018 – 2023 (USD Million) 52

8.2. U.S. 53

8.3. Canada 53

8.4. Mexico 53

CHAPTER NO. 9 : COMPANY PROFILES 54

9.1. The Lincoln Electric Company 54

9.1.1. Company Overview 54

9.1.2. Product Portfolio 54

9.1.3. Swot Analysis 54

9.1.4. Business Strategy 55

9.1.5. Financial Overview 55

9.2. Messer Cutting Systems 56

9.3. Genstar Technologies 56

9.4. Colfax Corporation 56

9.5. Linde Group 56

9.6. Struers 56

9.7. Ador Welding Ltd. 56

9.8. GCE Group 56

9.9. DAIHEN Corporation 56

9.10. Hypertherm 56

9.11. Amada Miyachi 56

9.12. Koike Aronson, Inc 56

9.13. Kennametal 56

9.14. TRUMPF GmbH + Co. KG 56

9.15. Bystronic Laser AG 56

CHAPTER NO. 10 : RESEARCH METHODOLOGY 57

10.1. Research Methodology 57

10.1.1. Phase I – Secondary Research 58

10.1.2. Phase II – Data Modeling 58

Company Share Analysis Model 59

Revenue Based Modeling 59

10.1.3. Phase III – Primary Research 60

10.1.4. Research Limitations 61

Assumptions 61

List of Figures

FIG NO. 1. North America Cutting Equipment Market Revenue, 2018 – 2032 (USD Million) 19

FIG NO. 2. Porter’s Five Forces Analysis for North America Cutting Equipment Market 25

FIG NO. 3. Company Share Analysis, 2023 26

FIG NO. 4. Company Share Analysis, 2023 27

FIG NO. 5. Company Share Analysis, 2023 27

FIG NO. 6. Company Share Analysis, 2023 28

FIG NO. 7. North America Cutting Equipment Market – Company Revenue Market Share, 2023 29

FIG NO. 8. North America Cutting Equipment Market Revenue Share, By Technology, 2023 & 2032 35

FIG NO. 9. Market Attractiveness Analysis, By Technology 36

FIG NO. 10. Incremental Revenue Growth Opportunity by Technology, 2024 – 2032 36

FIG NO. 11. North America Cutting Equipment Market Revenue, By Technology, 2018, 2023, 2027 & 2032 37

FIG NO. 12. North America Cutting Equipment Market for Laser, Revenue (USD Million) 2018 – 2032 38

FIG NO. 13. North America Cutting Equipment Market for Plasma, Revenue (USD Million) 2018 – 2032 39

FIG NO. 14. North America Cutting Equipment Market for Waterjet, Revenue (USD Million) 2018 – 2032 40

FIG NO. 15. North America Cutting Equipment Market for Flame, Revenue (USD Million) 2018 – 2032 41

FIG NO. 16. North America Cutting Equipment Market for Other Technologies, Revenue (USD Million) 2018 – 2032 42

FIG NO. 17. North America Cutting Equipment Market Revenue Share, By End-user, 2023 & 2032 44

FIG NO. 18. Market Attractiveness Analysis, By End-user 45

FIG NO. 19. Incremental Revenue Growth Opportunity by End-user, 2024 – 2032 45

FIG NO. 20. North America Cutting Equipment Market Revenue, By End-user, 2018, 2023, 2027 & 2032 46

FIG NO. 21. North America Cutting Equipment Market for Automotive, Revenue (USD Million) 2018 – 2032 47

FIG NO. 22. North America Cutting Equipment Market for Aerospace and Defense, Revenue (USD Million) 2018 – 2032 48

FIG NO. 23. North America Cutting Equipment Market for Electrical and Electronics, Revenue (USD Million) 2018 – 2032 49

FIG NO. 24. North America Cutting Equipment Market for Construction, Revenue (USD Million) 2018 – 2032 50

FIG NO. 25. North America Cutting Equipment Market for Other End-Users , Revenue (USD Million) 2018 – 2032 51

FIG NO. 26. North America Cutting Equipment Market Revenue, 2018 – 2032 (USD Million) 52

FIG NO. 27. Research Methodology – Detailed View 60

FIG NO. 28. Research Methodology 61

List of Tables

TABLE NO. 1. : North America Cutting Equipment Market: Snapshot 19

TABLE NO. 2. : Drivers for the North America Cutting Equipment Market: Impact Analysis 22

TABLE NO. 3. : Restraints for the North America Cutting Equipment Market: Impact Analysis 24

TABLE NO. 4. : North America Cutting Equipment Market Revenue, By Country, 2018 – 2023 (USD Million) 54

TABLE NO. 5. : North America Cutting Equipment Market Revenue, By Country, 2024 – 2032 (USD Million) 54

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

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

TABLE NO. 8. : North America Cutting Equipment Market Revenue, By Technology, 2018 – 2023 (USD Million) 56

TABLE NO. 9. : North America Cutting Equipment Market Revenue, By Technology, 2024 – 2032 (USD Million) 56

Frequently Asked Questions:

What is the projected growth of the North America Cutting Equipment Market?

The North America Cutting Equipment Market is projected to grow from USD 2,043.11 million in 2023 to USD 3,232.44 million by 2032, with a CAGR of 5.17% from 2024 to 2032.

What are the main drivers of the market’s growth?

Key drivers include the rising adoption of automated cutting solutions, the emphasis on energy-efficient and environmentally friendly equipment, and the integration of IoT and AI in cutting machinery.

Which industries primarily use cutting equipment?

The automotive, aerospace, defense, electrical and electronics, and construction industries are major end-users of cutting equipment, driven by the need for precision and efficiency.

Who are the leading players in the North America Cutting Equipment Market?

Key players include The Lincoln Electric Company, TRUMPF GmbH + Co. KG, Hypertherm, Messer Cutting Systems, and Colfax Corporation, known for their innovation and extensive product portfolios.

What recent technological advancements are impacting the market?

Recent advancements include the development of AI and IoT-integrated cutting equipment, energy-efficient laser and plasma cutting technologies, and eco-friendly solutions like water jet cutting.

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