Plasma cutting machine market size to grow by USD 1,119.84 million from 2022 to 2027; Growth driven by enhanced accuracy in cutting operations

Apr 29, 2023

NEW YORK, April 13, 2023 /PRNewswire/ -- The global plasma cutting machine market size is estimated to increase by USD 1,119.84 million between 2022 and 2027. The market's growth momentum will be progressing at a CAGR of 11.23%. The market is driven by an enhanced accuracy of plasma cutting machines in cutting operations. Plasma cutting machines use a variety of gases such as nitrogen, oxygen, or a mix of hydrogen, nitrogen, and argon to ensure precise and accurate cuts. Hence, the use of plasma cutting machines is increasing in end-user industries such as automotive, aerospace, electronics, and others. In addition, vendors in the market are launching high-precision plasma systems to cater to the needs of different end-users. For instance, ESAB Corp. offers enhanced versions of its 200-, 300- and 400-amp versions of its iSeries high-precision plasma systems. These machines provide the required accuracy and precision during cutting operations. All these factors are driving the growth of the market. Discover some insights on the market size and other key parameters for historic period (2017 to 2021) and Forecast 2023-2027 before buying the full report - Request a sample report

Global Plasma cutting machine market – Vendor Analysis

The global plasma cutting machine market is fragmented and the market presents a highly competitive landscape for all the vendors. Vendors compete to acquire a significant share of the market, with the aim of expanding and growing in terms of their product portfolios. Vendors operating in the market witness the maximum demand from the automotive, aerospace and defense, electrical and electronics, and industrial machinery industries. Several regional and local vendors have started manufacturing customized and energy-efficient plasma cutting machines, which is leading to strong competition with their international counterparts. Hence, international players in the global plasma cutting machine market are focusing on expanding their footprint in developing countries and adopting automation and robotics to differentiate their products and increase their product portfolios. Such developments are intensifying the competition in the market. Some of the key vendors covered in the market include:

AJAN ELEKTRONIK - The company offers plasma cutting machines such as standard CNC plasma cutting machines and pipe CNC plasma cutting machines.

Automated Cutting Machinery Inc. - The company offers plasma cutting machines such as Bevel cutting plasma and Straight cutting plasma.

C and G Systems Corp. - The company offers plasma cutting machines such as Taurus and Challenger precision CNC plasma cutting systems.

ERMAKSAN MAKINA SANAYI VE TICARET AS - The company offers plasma cutting machines such as EPL plasma cutting machine.

ESAB Corp.

Hornet Cutting Systems

Hypertherm Inc.

Illinois Tool Works Inc.

Jorgenson Machine Tools Inc.

Kjellberg Holding GmbH

Koike Aronson Inc.

Komatsu Ltd.

Kongsberg PCS

Messer Cutting Systems Inc.

NISSAN TANAKA Corp.

SICK AG

Spiro International SA

The Lincoln Electric Co.

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Global competitiveness and key competitor positions

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Global Plasma Cutting Machine Market - Segmentation Assessment

Segment OverviewTechnavio has segmented the market based on type (portable and stationary), end-user (automotive, aerospace and defense, industrial construction, electrical equipment, and others), and geography (APAC, Europe, North America, South America, and the Middle East and Africa).

The market growth in the portable segment will be significant over the forecast period. Portable plasma cutting machines offer ease of operation and mobility. They are capable of performing high-quality cuts at high cutting speeds. These machines are mainly used in the construction, repair, and maintenance sectors. Thus, the growth of the construction sector and the rapid expansion of the automobile industry will fuel the growth of the portable segment over the forecast period.

Geography OverviewThe report provides actionable insights and estimates the contribution of all regions to the growth of the global plasma cutting machine market.

APAC will account for 45% of the market growth during the forecast period. The increased government funding for end-user industries has been crucial in driving the growth of the regional market. For instance, in May 2020, India announced an economic stimulus package of about USD 260 billion to help enterprises recover from the negative effects of the COVID-19 pandemic. Also, the newly launched vehicle scrappage policy in India to phase out and recycle old vehicles is expected to drive the demand for plasma cutting machines in the country. In addition, the increasing demand for plasma cutting machines across industries, such as automotive, has encouraged several vendors operating in the regional market to launch technologically advanced products. Such factors are driving the growth of the plasma cutting machines market in APAC.

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Global Plasma Cutting Machine Market – Market Dynamics

Key Trends –

The increase in M&A activities and strategic alliances is identified as the key trend in the market. Vendors in the market are focused on partnerships and strategic alliances to gain higher market shares, gain access to new products, and expand their geographic reach. Some vendors are acquiring smaller players to widen their product offerings and gain access to new technologies. For instance, in March 7, 2023, ESAB Corp. acquired Swift-Cut, a global provider of CNC plasma cutting systems. Such activities among vendors will drive the growth of the market during the forecast period.

Major challenges –

The high installation cost of plasma cutting machines will challenge the growth of the market. Initial investments required to install a plasma cutting machine are about six times larger than a gas cutting machine. Also, retrofitting these machines cost considerably more than gas cutting machines. The high cost associated with the installation discourages many manufacturers to opt for plasma cutting machines. These factors hinder the growth of the global plasma cutting machines market.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this plasma cutting machine market report?

CAGR of the market during the forecast period

Detailed information on factors that will drive the growth of the plasma cutting machine market between 2023 and 2027

Precise estimation of the size of the plasma cutting machine market and its contribution to the parent market

Accurate predictions about upcoming trends and changes in consumer behavior

Growth of the plasma cutting machine market industry across APAC, Europe, North America, South America, and Middle East and Africa

A thorough analysis of the market's competitive landscape and detailed information about vendors

Comprehensive analysis of factors that will challenge the growth of plasma cutting machine market vendors

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Plasma Cutting Machine Market Scope

Report Coverage

Details

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 11.23%

Market growth 2023-2027

USD 1,119.84 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

9.09

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 45%

Key countries

US, China, Japan, India, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

AJAN ELEKTRONIK, C and G Systems Corp., ESAB Corp., Esprit Automation Ltd., Haco NV, Hornet Cutting Systems, Hypertherm Inc., Illinois Tool Works Inc., Jorgenson Machine Tools Inc., Kjellberg Holding GmbH, Koike Aronson Inc., Komatsu Ltd., Kongsberg PCS, Messer Cutting Systems Inc., NISSAN TANAKA Corp., SICK AG, Spiro International SA, The Lincoln Electric Co., Automated Cutting Machinery Inc., and ERMAKSAN MAKINA SANAYI VE TICARET AS

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of contents:

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global plasma cutting machine market 2017 - 2021

4.2 Type Segment Analysis 2017 - 2021

4.3 End-user Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by Type

6.1 Market segments

6.2 Comparison by Type

6.3 Portable - Market size and forecast 2022-2027

6.4 Stationary - Market size and forecast 2022-2027

6.5 Market opportunity by Type

7 Market Segmentation by End-user

7.1 Market segments

7.2 Comparison by End-user

7.3 Automotive - Market size and forecast 2022-2027

7.4 Aerospace and defense - Market size and forecast 2022-2027

7.5 Industrial construction - Market size and forecast 2022-2027

7.6 Electrical equipment - Market size and forecast 2022-2027

7.7 Others - Market size and forecast 2022-2027

7.8 Market opportunity by End-user

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 APAC - Market size and forecast 2022-2027

9.4 Europe - Market size and forecast 2022-2027

9.5 North America - Market size and forecast 2022-2027

9.6 South America - Market size and forecast 2022-2027

9.7 Middle East and Africa - Market size and forecast 2022-2027

9.8 China - Market size and forecast 2022-2027

9.9 US - Market size and forecast 2022-2027

9.10 Germany - Market size and forecast 2022-2027

9.11 Japan - Market size and forecast 2022-2027

9.12 India - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 AJAN ELEKTRONIK

12.4 Automated Cutting Machinery Inc.

12.5 C and G Systems Corp.

12.6 ERMAKSAN MAKINA SANAYI VE TICARET AS

12.7 ESAB Corp.

12.8 Esprit Automation Ltd.

12.9 Haco NV

12.10 Hornet Cutting Systems

12.11 Hypertherm Inc.

12.12 Illinois Tool Works Inc.

12.13 Jorgenson Machine Tools Inc.

12.14 Kjellberg Holding GmbH

12.15 Koike Aronson Inc.

12.16 Komatsu Ltd.

12.17 Messer Cutting Systems Inc.

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

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