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Metal Cutting Machine Market Analysis, Share, Industry Trends, Key Insights And Forecast To 2032
Metal Cutting Machine Market Analysis
The Business Research Company's Metal Cutting Machine Global Market Report 2023 identifies growing automotive industry as the major driver for the metal cutting machine market's growth in the forecast period. The automotive industry refers to a broad spectrum of businesses engaged in producing, developing, developing, designing, marketing, and distributing motor vehicles, towing vehicles, and mopeds. One crucial aspect that has made machine tools the best for the automotive industry is their capacity to carry out repetitive tasks. The production of components like gasoline injectors calls for extremely high precision. The CNC machines' primary use is the grinding of camshafts, which is accomplished with computer-aided design. Thus, metal-cutting machines have a huge role in the manufacturing of automobiles.
The global metal cutting machine market is expected to grow from $6.18 billion in 2022 to $6.56 billion in 2023 at a compound annual growth rate (CAGR) of 6.21%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The metal cutting machine market is expected to reach $8.21 billion in 2027 at a CAGR of 5.78%.
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Major competitors in the metal cutting machine market are TRUMPF Pvt. Ltd., Amada Co. Ltd., Colfax Corporation, Bystronic Laser AG, Nissan Tanaka Corporation, Lincoln Electric Holdings, Inc.
A key trend in the metal cutting machine market includes technological advancement. Major market participants for metal cutting machines are focusing their efforts on developing cutting-edge technology to maintain their market share. For instance, in March 2022, Bodor Laser, a US-based manufacturer of metal laser cutting machines, launched its next-generation metal cutting machine, a laser scanning cutting device that eliminates beam reflection while cutting significantly faster and thicker materials (also highly reflective materials). When compared to conventional cutting with the same power and sheet thickness, the scanning cutting speed is increased by 50% to 18% thanks to the cutting-edge beam locus motion control technology. With the use of its beam motion control technology, it can provide a variety of beam locus patterns to cut highly reflective materials without damaging the laser source. The world's only laser scanning-type machine for the laser metal cutting sector, the Laser Scanning Cutting Machine, is the newest and most inventive product from Bodor.
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The metal cutting machine market is segmented -
1) By Product: Laser Cutting Machine, Waterjet Cutting Machine, Plasma Cutting Machine, Flame Cutting Machine
2) By Distribution: Online, Offline
3) By End-User: Automobile, Aerospace And Defense, Electronics, Power And Energy, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the metal cutting machine market.
The Business Research Company's "Global Metal Cutting Machine Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Metal Cutting Machine Market Include:
1. Executive Summary
2. Metal Cutting Machine Market Characteristics
3. Metal Cutting Machine Market Trends And Strategies
4. Metal Cutting Machine Market - Macro Economic Scenario
5. Metal Cutting Machine Market Size And Growth
…….
26. Africa Metal Cutting Machine Market
27. Metal Cutting Machine Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Metal Cutting Machine Market
29. Metal Cutting Machine Market Future Outlook and Potential Analysis
30. Appendix
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