Nov 11, 2017 Off Comments in Business News, Laser Cutting by
Cleveland Ohio Laser Cutting: Global Metal Cutting Machine (Laser, Waterjet, Plasma, Flame) Market Analysis 2014-2017 & 2025

The global metal cutting machine demand was USD 5.99 billion in 2016 and is expected to grow at a CAGR of 5.7% from 2017 to 2025. Automotive emerged as the largest application segment in 2016 and is expected to grow at a predicted CAGR of 6.5% between 2017 and 2025

Increasing demand from automotive industry has been a key factor driving market growth, globally. In addition, robust growth in various application industries such as electronics, defense, marine, construction and aerospace is also fueling the demand.

Automotive segment held the largest market share in 2016 owing to a wide-scale usage of the product in wide range of exterior and interior components of automotive such as passenger cars, SUV’s, and HUV’s. The robust growth in automotive industry across the world is further driving the segment growth. MCMs are witnessing an increasing demand, which is anticipated to spur at a faster pace on account of the rising need for advanced automatic machines to increase production efficiency and avoid operator’s hazardous issues.

Laser machine accounted as the largest product segment in 2016 and is anticipated to grow significantly over the upcoming years. Laser machines are extensively used for industrial manufacturing applications to produce high-quality surface finish objects. It is widely used in the shipbuilding and aerospace manufacturing process.

In marine industry, these machines are extensively used by the industry players for ship repair and fabrication of equipment. It consists of patrol boats, aircraft carriers, tankers, luxury liners, tugs, barges, large seagoing vessels for containers, and other cargo ships. Cutting machines are used to cut parts for hatches, skin of the vessel, block parts, stiffener plates, drains, the skeleton, and pipes.

Read more: Cleveland Ohio Laser Cutting: Global Metal Cutting Machine (Laser, Waterjet, Plasma, Flame) Market Analysis 2014-2017 & 2025