Plasma Cutting Machine Market Size, Share & COVID-19 Impact Analysis, By Product Type (Manual/Handheld and CNC/Automated), By Application (Industrial Manufacturing, Automotive, Construction, Salvage and Scrapping Operations, and Others), and Regional Forecast, 2023 – 2030

The global plasma cutting machine market size was valued at USD 631.7 million in 2022. The market is projected to grow from USD 646.2 million in 2023 to USD 841.4 million by 2030, exhibiting a CAGR of 3.8% during the forecast period.

Plasma cutting technology is widely used in various industries for cutting materials such as metal, steel, and other conductive materials. With the increasing demand for intricate products and higher-quality cuts, the demand for plasma-operated cutting tools is also expected to witness a noteworthy surge. Moreover, substantial increments in the incorporation of automation and robotic technology will also favor growth prospects. Most of the manufacturers will introduce new and automated products in their product portfolio and will also try to offer cost-effective products to stay in the competition providing new growth horizons to the market. 

COVID-19 IMPACT

Stringent Regulations and Supply Chain Disruptions Created Critical Obstructions to Market Growth

Government-imposed restrictions and safety measures to curb the spread of the virus affected the operations in the plasma-cutting facilities. In addition, adherence to health and safety guidelines led to changes in production processes and increased operational costs. Economic uncertainties and lockdown measures in various regions have led to a decline in demand for industrial products and services, including plasma-cutting services. Many industries experienced slowdowns or temporary shutdowns, impacting the need for metal fabrication and cutting.

Moreover, the pandemic disrupted global supply chains, affecting the availability of raw materials and components necessary for the production of plasma cutting machines. This caused prolonged delays in manufacturing and delivery.

Plasma Cutting Machine Market Trends

Integration of CNC Technology and Multi-Process Capabilities to Fuel Market Growth

The integration of Computer Numerical Control (CNC) technology with plasma cutting machines allows for automated and precise control of the cutting process. CNC systems enable the machines to follow programmed instructions, resulting in accurate and repeatable cuts.

Some of these machines offer multi-process capabilities, allowing them to perform various functions beyond cutting. This may include tasks such as plasma gouging, marking, and even welding, providing versatility in fabrication processes. Pulse technology in plasma cutting allows for better control of heat input during the cutting process. This is particularly useful for cutting thin materials and intricate designs, minimizing distortion and delivering high-quality cuts.

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Plasma Cutting Machine Market Growth Factors

Proliferation of Customized Metal Fabrication and Elevated Level of Automation to Create an Optimistic Market Growth Scenario

Automated plasma cutting systems can consistently execute precise cuts, ensuring high-quality and accurate results. This level of precision is challenging to achieve consistently with manual cutting methods. Automation allows for continuous and uninterrupted operation, leading to higher productivity. In addition, automated systems can work around the clock, reducing downtime and increasing overall efficiency. Moreover, automation enables these cutting machines to operate at higher speeds than manual methods. This increased cutting speed contributes to faster production cycles and shorter lead times for projects.

All the aforementioned advantages of automation and its increasing incorporation in metal fabrication are poised to spur the market growth.

RESTRAINING FACTORS

Presence of Alternative Technologies and Stringent Regulatory Compliance to Hamper Market Growth

Other cutting technologies, such as laser cutting and waterjet cutting, compete with plasma cutting in the market. The choice between these technologies depends on the specific requirements of the application and advancements in competing technologies can impact the demand for these machines. Plasma cutting is most effective on conductive materials, and its performance may vary with different types of materials. Some industries may prefer alternative cutting methods based on the materials they commonly work with.

 Moreover, stringent safety and environmental regulations may affect the use of these cutting machines, especially in regions where emissions and waste disposal are closely regulated. Compliance with these regulations can add additional costs and complexities for businesses.

Plasma Cutting Machine Market Segmentation Analysis

By Product Type Analysis

Adaptability of the CNC Machines to Cater to the Needs to Drive the CNC/Automated Segment Growth

In terms of product type, the market is classified into manual/handheld and CNC/automated.

Amongst both types of products, the market estimation suggests that the CNC/automated segment is poised to have a dominant share in the global market throughout the forecasted period. Moreover, the same segment is also anticipated to perform better in terms of growth projections throughout the forecast period. CNC plasma machines can be easily scaled to accommodate varying production demands. Whether a small job or a large-scale production run, these machines can be adapted to meet the requirements. In addition, many modern Computer Numerical Control (CNC) machines come equipped with remote monitoring and control capabilities. This allows operators to monitor the cutting process, make adjustments, and troubleshoot issues from a remote location. Aforementioned factors are identified as crucial and expected to support optimistic growth projections of the CNC/automated segment.

Due to the increasing intricacy and demand for precise and accurate operations manual/handheld segment is set to decrease its market share over the forecast period. However, the minimal initial investment for the setup of manual machines and lesser maintenance involved in the handheld/manual segment sighted as crucial factors supporting the sales of manual segment in the market.

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By Application Analysis

Efficient Batch Production and Versatility in Materials to Drive the Automotive Segment Growth

By application, the market is categorized into industrial manufacturing, automotive, construction, salvage and scrapping operations, and others.

The automotive segment is expected to have the largest share and is set to outpace the growth rate of other segments through the forecast period. Increased focus of the automobile manufacturers on the precise and accurate components with tight tolerances for an optimum performing vehicle tends to increase the integration of plasma cutting operations in the automotive industry. Plasma cutting is employed in the manufacturing of heavy equipment to cut and shape metal components for construction machinery. Plasma cutting allows for the precise cutting of metal sheets, enabling manufactures to create intricate and detailed components with ease in their facilities. Moreover, plasma cutting is used for on-site cutting and repair of metal equipment and structures, providing a quick and efficient solution for maintenance tasks.

Moreover, these machines can cut through a variety of materials used in the automotive industry, including mild steel, stainless steel, aluminum, and alloys. This versatility makes them suitable for fabricating a wide range of automotive components. In addition, they are well-suited for batch production in the automotive industry. Their high cutting speeds and ability to handle multiple materials make them efficient for producing large quantities of components in a relatively short time.

REGIONAL INSIGHTS

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In the regional insights section, the plasma cutting machine market research report provides comprehensive information about the performance of North America, Latin America, Europe, the Asia Pacific, and the Middle East & Africa.

Amongst all the regions, the Asia Pacific market for plasma cutting machine is anticipated to hold the major share during the forecast period. The region is also expected to register noteworthy CAGR in the global market during the forecast period.

The automotive industry in the Asia Pacific is expanding, driven by both domestic consumption and exports. Plasma cutting machines are integral to the fabrication of automotive components, and their use has increased in tandem with the growth of the automotive sector. Similar to other regions, ongoing technological advancements in plasma-cutting technology have improved the capabilities of these machines. Enhanced precision, cutting speeds, and automation features make them more attractive to industries in the Asia Pacific.

India will spearhead the global growth projections owing to the extensive efforts of the government in improving indigenous manufacturing. A paradigm shift of investors and manufacturing outsourcing hubs towards India after the pandemic is also actuating the market growth. Initiatives such as "Make in India" and other government policies promoting manufacturing and technological advancements contribute to the adoption of advanced technologies such as plasma cutting machines. In addition, efforts to develop a skilled workforce capable of operating and programming CNC machines, including plasma cutters, contribute to the increased adoption of these technologies in India.

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The automotive industry in North America is a major consumer of plasma-cutting technology. As the automotive sector continues to evolve and adopt advanced manufacturing processes, the demand for plasma cutting technology, which is a precision cutting tool, has increased. North America has experienced a resurgence in manufacturing activities, driven in part by reshoring and a renewed focus on domestic production. The need for efficient cutting solutions, such as plasma cutting machines, has increased as manufacturers seek advanced technologies to enhance productivity.

Europe has a diverse and robust manufacturing sector that includes industries such as automotive, aerospace, machinery, and electronics. The demand for efficient and precise cutting solutions, such as plasma-driven cutting machines, has increased with the increase in manufacturing activities. Moreover, the automotive industry in Europe is a major consumer of plasma-cutting technology. As the automotive sector continues to advance and incorporate new materials, manufacturers are turning to these machines for their ability to handle a variety of materials with precision.

The Middle East & Africa is witnessing an extensive infrastructure projects and rapid urbanization. Plasma cutting machines are crucial for metal fabrication in construction, bridges, and other infrastructure developments.

SMEs in Latin America are adopting advanced manufacturing technologies to enhance productivity. Offering cost-effective solutions is becoming more prevalent in smaller businesses which aid the sales of products among SMEs. However, the limited domestic production of plasma cutting machines and heavy dependence on the import of plasma-based cutting machines is curtailing growth in Latin America and the Middle East & Africa regions.

List of Key Companies in Plasma Cutting Machine Market

Development of a Wide Array of Product Portfolio to Propel the Plasma Cutting Machine Market Share of Established Players

This market is fragmented with the presence of numerous global key market players and the emergence of regional or domestic market players across the globe. Most of the manufacturers are trying to develop a comprehensive range of cutting solutions. Moreover, global manufacturers are also keen on focusing on global reach and introducing a wide variety of cutting products. The efforts to have an effective global reach and swift growth across multiple geographies will certainly increase the target customer base for the companies and will result in strong growth in sales of the products.

Catering to diverse industrial needs and providing industry-specific solutions is driving sales for tier 2 and tier 3 manufacturers. To rival the established and tier 1 players in the global market, the regional players are also developing cost-effective and reliable solutions for consumers operating in different end-use industries. Their strategy involves a combination of quality manufacturing and continuous innovation. They often focus on providing high-performance systems for various industrial applications.

List of Key Companies Profiled:

• Stürmer Maschinen GmbH (Germany)


• DAIHEN Corporation (Japan)


• ESAB Corporation (U.S.)


• Miller Electric Mfg. LLC (U.S.)


• KERF DEVELOPMENTS LIMITED (U.K.)


• Lincoln Electric (U.S.)


• MicroStep Europa (Germany)


• Plazmamax (Israel)


• Dener Makina (Turkey)


• Voortman Steel Machinery (Netherlands)

KEY INDUSTRY DEVELOPMENTS:

• December 2023: Diahen Corporation, a leading cutting and welding product manufacturer, attended the International Robot Exhibition 2023 in Japan along with its business partner, Hypertherm Associates.


• October 2023: ESAB unveiled its new product combirex pro, which will be used for automated plasma and oxyfuel cutting and beveling.


• September 2023: ESAB announced the launch of Cutmaster, which is a 50+ total plasma cutting package. The product launch has helped to develop a wide range of product portfolios for the market.


• August 2023: ABB Ltd. launched its next-gen collaborative robot, which can be integrated with a cutting machine and provides simple and completely automated cutting operations for the users. The availability of robotic solutions from one of the established manufacturers will increase the attention of customers toward plasma-cutting technology.


• August 2023: Lorch Schweißtechnik announced its merger with DAIHEN Corporation. The merger made Lorch a subsidiary organization of the DAIHEN Group.

REPORT COVERAGE

The report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product/service types, and leading applications of the product. Besides this, it offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that have contributed to the growth of the market in recent years.

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