Plasma cutting machines are used for cutting steel and other metals according to the requirement. These consist of plasma arc and high speed stream. Through nozzle, a gas stream is passed at a very high speed on material, which compress the gas into plasma and raise the temperature and helps in cutting the metal. Single flow and dual flow are the types of plasma cutting machines which are available in market. Dual flow can be further sub segmented as shielded and unshielded. Plasma cutting machines can be controlled automatic or manually. Configurations of plasma cutting machines can be 2 dimensional, 3 dimensional and tube or sections. Manufacturing sector, automotive sector, industrial construction, electric equipment and aerospace and defense sector are the consumers of plasma cutting machines due to its ability to cut metals with efficiency and effectiveness in less time. Rise in manufacturing industries are expected to boost the demand for plasma cutting machines in the market.
COVID-19 Impact analysis
- COVID-19 pandemic has shut down the production of various products in the plasma cutting machine industry attributed to the lockdown in countries worldwide. This has hampered the growth of plasma cutting machine market in 2020 and, is likely to revive in 2021.
- COVID-19 has already affected the sales of plasma cutting machine in the second and third quarter of 2020 and is reviving in 2021.
- The major demand for plasma cutting machine was previously noticed from countries including the U.S., Germany, Italy, UK, and India, which are negatively affected by the spread of the corona virus, thereby declining the demand for plasma cutting machines.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Plasma cutting machine manufacturers can afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID-19 health crisis.
- Plasma cutting machine manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.
Top Impacting Factors
Rise in demand of high quality equipment in diverse industry has surged the demand for plasma cutting machines for cutting of metals. Use of alloys in various industries has observed an increase, and cutting is required according to use, which is boosting the growth of the plasma cutting machines market. Shortage of skilled labor is another factor which drives the market growth. Awareness about technological advancement such as integrated use of mechanical tools with biochemistry is a factor which promotes the use of plasma cutting machines. In addition, it reduces the operational time and cost of labor. This has surged the demand for plasma cutting machines in the market. Rapid industrialization and technical advancement in aerospace and defense sector is expected to create opportunities for plasma cutting machines. It requires periodic checks, which increases the cost of maintenance. This factor is projected to hinder the growth of the plasma cutting machine market.
Market Trends
- The growth of the plasma cutting market is expected to be prominent during the forecasted period due to surge in industrialization in Asia-Pacific.
- Automatic plasma cutting machine dominates the market, due to its high efficiency and accuracy.
- Underwater plasma cutting machines are a novel creation, which can be considered as a revolutionary product and is expected to dominate the market of marine industry due to its attributes.
- Air plasma cutting machine is a newly launched product by Electro Plasma Equipment Ltd. which minimizes the use of fuel for cutting the metals. Its operational cost is less as compared to conventional plasma cutting machines.
- Ercoline has recently launched latest Plasma Cutting EC220 in July 2020 which is efficient and is thus expected to gain traction among its users.
Key Benefits of the Report
- This study presents the analytical depiction of the plasma cutting machine market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the plasma cutting machine market share.
- The current market is quantitatively analyzed to highlight the plasma cutting machine market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides detailed plasma cutting machine market analysis based on competitive intensity and how the competition will take shape in coming years.
Key Market Segments
- By Product Type
- By Control
- By Configuration
- By End-User
- Manufacturing Sector
- Automotive Sectors
- Industrial Constructions
- Electric Equipment
- Aerospace and Defense
- By Region
- North America
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- GCC
- Argentina
- Rest of LAMEA
Key Market Players
- C&G Systems
- MultiCam
- Koike Aronson
- Voortman Steel Machinery
- Kjellberg Finsterwalde
- AJAN ELEKTRONIK
- Würth
- ERMAKSAN
- SICK
- HACO