With the emergence and long-term Impact of COVID-19, Global Plasma Cutting Machine Market to reach USD 851 Million by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Plasma Cutting Machine Market is poised to raise up to USD 851.31 Million by 2030. Plasma-cutting machines are utilized for precise cutting of steel and other metals as per specific requirements. These machines employ a plasma arc and high-speed stream mechanism. A gas stream is directed through a nozzle onto the material at high velocity, compressing the gas into plasma and elevating the temperature to facilitate metal cutting. In the market, plasma cutting machines are available in single-flow and dual-flow types, with the latter further categorized into shielded and unshielded variants. These machines are operated either automatically or manually.
Plasma cutting machines come in various configurations including 2-dimensional, 3-dimensional, and tube or section cutting capabilities. Industries such as manufacturing, automotive, industrial construction, electric equipment, aerospace, and defense sectors extensively utilize plasma cutting machines due to their efficiency and effectiveness in metal cutting within shorter timeframes. The Plasma Cutting Machine Market is expanding because of factors such as the supportive government initiatives and policies, as well as rise in integration of automation in plasma cutting machines.
Geographically, the global Plasma Cutting Machine market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). Asia Pacific dominated the market in 2022 with largest market share owing to the rise in technological advancements, growing investments in infrastructure development projects, and growth in industrial sectors. Whereas, North America is expected to grow with the fastest CAGR over the forecast years. The rising initiatives and a growing emphasis on domestic production are significantly propelling the market demand across the region. Consequently, there is a growing demand for efficient cutting solutions, such as plasma cutting machines, as manufacturers strive to leverage advanced technologies to bolster productivity.
The global Plasma Cutting Machine market is highly competitive owing to the presence of several key market players such as Stürmer Maschinen GmbH, DAIHEN Corporation, ESAB Corporation, Miller Electric Mfg. LLC, kerf developments limited, Lincoln Electric, MicroStep Europa, Plazmamax and others.
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Key findings of the study suggest:
- Global Plasma Cutting Machine Market is anticipated to grow with a healthy growth rate of more than 3.8% over the forecast period 2023-2030.
- In the Product Type, CNC/Automated emerged out as the leading market segment in 2022.
- Asia Pacific is anticipated to drive regional growth owing to the rise in technological advancements, growing investments in infrastructure development projects, and growth in industrial sectors.
- North America is expected to grow at higher rate followed by Asia Pacific during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
Product Type:
- Manual/Handheld
- CNC/Automated
Application:
- Industrial Manufacturing
- Automotive
- Construction
- Salvage and Scrapping Operations
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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