The global Gas Cutting Machine Market is estimated to be valued at US$750 Mn in 2023 and is expected to exhibit a CAGR of 2.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Gas cutting machines use a oxygen-fuel process to cut and heat metals through combustion. These machines provide clean and precise cuts and can cut thick plates and metal sheets up to 300 mm thickness. Their portability and versatility makes them suitable for on-site metal fabrication and manufacturing applications.
Market key trends:
The increasing adoption of portable and multi-process gas cutting machines is expected to drive the growth of the gas cutting machine market. Earlier, gas cutting machines allowed only gas cutting but the new generation multi-process models allow plasma cutting, oxy-fuel cutting and carbon arc gouging using the same power source which has increased their usage in metal fabrication. They provide versatility and convenience to fabricators to perform different cutting and gouging operations using a single machine.
Segment Analysis
The global gas cutting machine market is segmented by technology, gas type, automation level, end-use industry and region. Based on technology, the thermal cutting segment dominated the market in 2023 and is expected to continue its dominance over the forecast period. Thermal cutting provides precision cutting along straight or curved lines as per requirement and is cost effective for cutting a wide range of materials, thereby making it a preferred technology for gas cutting processes.
Key Takeaways
The global gas cutting machine market is expected to witness high growth, exhibiting CAGR of 2.9% over the forecast period, due to increasing industrial automation and focus on workflow optimization.
The Asia Pacific region dominated the global market in 2023 and is expected to exhibit the fastest growth over the forecast period. Growing manufacturing sector and rapidly expanding construction and automotive industries in China, Japan and India are driving the demand for gas cutting machines in the region.
Key players operating in the gas cutting machine market are Kaltenbach Group, ESAB, Koike Aronson, Hornet Cutting Systems, Messer Cutting Systems, Ador Welding, Haco, Harris Products Group, Shangai Welding & Cutting Tool Works, SteelTailor, and Voortman Steel Machinery. The market players are focusing on developing advanced gas cutting solutions with Industry 4.0 integration and enhanced operational efficiency to strengthen their market position.
The global gas cutting machine market size was valued at US$ 750 Mn in 2023 and is expected to reach over US$ 850 Mn by 2030, expanding at a CAGR of 2.9% during the forecast period.
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