Metal Cutting Machine Global Market Report 2024

The global metal cutting machine market has grown strongly in recent years. It will grow from $6.52 billion in 2023 to $6.93 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth witnessed in the historic period can be credited to various factors, including the increased demand for precision engineering, the effects of industrialization and urbanization, the rise of mass production methodologies, advancements in manufacturing techniques, the transformative impact of the industrial revolution, and the innovation in machine tools used within manufacturing processes.

The global metal cutting machine market is expected to see strong growth in the next few years. It will grow to $8.87 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The anticipated growth in the forecast period is linked to several factors, notably the global expansion of industrial activities, the emphasis on precision engineering and micromachining, the trend towards customization and flexible production methods, the adoption of sustainable manufacturing practices, and the increasing use of additive manufacturing techniques. Significant trends expected during this period encompass high-speed machining and efficiency, the integration of advanced CNC (Computer Numerical Control) technology, advancements in multi-axis machining capabilities, the incorporation of augmented reality (AR) and virtual reality (VR) in machining processes, as well as a strong focus on sustainability and the adoption of green technologies within the manufacturing sector.

The metal-cutting machine market is anticipated to experience significant growth due to the expanding automotive industry. These machines have proven indispensable in automotive manufacturing for their ability to execute repetitive tasks with precision. CNC machines, in particular, play a vital role in producing precise components like gasoline injectors and camshafts. Notably, in March 2022, The European Automobile Manufacturers Association reported a 2.7% increase in car production to 63.2 million, while the US saw a 5.5% rise in passenger car sales to 11.9 million units in 2021. Similarly, the EU witnessed a 9.6% increase in commercial car registrations to 1.8 million units. This growth underscores the crucial role of metal-cutting machines in the automotive sector.

The surge in construction activities is expected to be a driving force behind the growth of the metal cutting machine market. These machines play a pivotal role in fabricating essential metal components required for building structures such as buildings, bridges, and infrastructure. For example, data from the Census Bureau in September 2023 indicated a substantial increase in total construction spending, reaching an estimated annual rate of $1,996.5 billion, surpassing the previous month's figures. This surge in construction activities further fuels the demand for metal cutting machines.

Technological advancements stand as a prominent trend in the metal cutting machine market, with key industry players continually innovating to maintain their market position. Notably, in March 2022, Bodor Laser introduced a cutting-edge metal cutting machine equipped with laser scanning technology that significantly enhances cutting speed and precision, especially for highly reflective materials. This innovative machine features beam motion control technology, enabling faster cutting speeds by up to 50% to 18% compared to conventional methods, without compromising the laser source. Bodor's Laser Scanning Cutting Machine represents a pioneering advancement in the laser metal cutting sector.

Leading companies in the metal cutting machine market are heavily invested in product development to drive innovation. An example is Milwaukee Tools, which in June 2022 unveiled its advanced WRECKER integrated with the NITRUS CARBIDE SAWZALL Blade. This product is specifically designed for more effective multi-material cutting across a wide range of metals, ideal for remodeling and demolition tasks at construction sites. This emphasis on developing cutting-edge tools tailor.

In December 2021, CGI Automated Manufacturing, a US-based company under the portfolio of private equity firm CORE Industrial Partners, successfully acquired Precision Metal Fab (PMF) and Precision Tool & Die in a transaction of undisclosed value. This strategic acquisition aligns PMF's cutting-edge metal fabrication technology seamlessly within CGI's platform. Leveraging the expanded capabilities of CGI, PMF, and AL, the acquisition is poised to drive organic growth. Moreover, it positions PMF to explore strategic acquisition opportunities following this transaction. Precision Metal Fab specializes in CNC laser cutting, stamping, metal die creation, welding, and assembly, boasting a fleet of fiber-optic 10 and 15 kilowatt lasers capable of cutting metal materials up to 1.2 inches thick.

Major companies operating in the metal cutting machine market report are Trumpf Pvt. Ltd., Amada Co. Ltd., Colfax Corporation, Bystronic Laser AG, Nissan Tanaka Corporation, Lincoln Electric Holdings Inc., Coherent Inc., Komatsu Ltd., Koike Aronson Inc., Flow International Corporation, Omax Corporation, Okuma Corporation, Yamazaki Mazak Corporation, Doosan Machine Tools Co. Ltd., JTEKT Corporation, ESAB Corporation, WARDJet Inc., Prima Power AG, Mazak Optonics Corporation, Salvagnini America Inc., Cincinnati Incorporated, LVD Group NV, MC Machinery Systems Inc., Mitsubishi Electric Corporation, DMG MORI Corporation, Haas Automation Inc., Makino Milling Machine Co. Ltd., Hurco Companies Inc., Chmer EDM Co., Shigiya Machinery Works Ltd.

Asia-Pacific was the largest region in the metal cutting machine market share in 2023. The regions covered in the metal cutting machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the metal cutting machine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary offerings within the realm of metal cutting machines include laser, waterjet, plasma, and flame cutting machines. Laser cutting machines, in particular, serve as pivotal tools for production and prototyping, catering to engineers, designers, and artists. These machines excel in etching and cutting flat materials and find distribution both online and offline, targeting applications across automotive, aerospace and defense, electronics, power and energy, and various other industries.

This report provides metal cutting machine market statistics, including metal cutting machine industry global market size, regional shares, competitors with a metal cutting machine market share, detailed metal cutting machine market segments, market trends and opportunities, and any further data you may need to thrive in the metal cutting machine industry. This metal cutting machine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The metal cutting machine market consists of sales of lathe, drilling machine, milling gadget, boring machine, grinding gadget and machining middle. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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