Metal cutting machine market size worth $9.79 billion by 2025

The global metal cutting machine market is expected to reach $9.79 billion by 2025, according to a new report by Grand View Research Inc., San Francisco.

The global metal cutting machine demand was $5.99 billion in 2016 and is expected to grow at a CAGR of 5.7 percent 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 percent between 2017 and 2025.

In addition, robust growth in various industries such as electronics, defense, marine, construction and aerospace is fueling demand. The U.S. market in the defense and aerospace segment was $511.1 million in 2016 and is projected to grow at rate of 4.2 percent from 2017 to 2025.

Laser machines accounted for the largest product segment in 2016, and this segment is expected to grow significantly in the upcoming years. Laser machines are used extensively for industrial manufacturing applications to produce high-quality surface finish objects for such industries as shipbuilding and aerospace.

Global demand for flame cutting machines was $333.7 million in 2016 and is anticipated to have staggered growth over the next eight years.

The market in Asia Pacific is projected to experience substantial growth over the next eight years owing to robust growth in various application industries, especially in the automotive, defense, and aerospace markets. In terms of revenue, the APAC market is expected to grow at a CAGR of 6.7 percent between 2017 and 2025.

To browse the full research report, "Metal Cutting Machine (MCM) Market Analysis, By Product (Laser, Waterjet, Plasma, Flame), By Application (Automotive, Aerospace & Defense, Construction, Marine, Electronics), And Segment Forecasts, 2014 – 2025," visit www.grandviewresearch.com/industry-analysis/metal-cutting-machine-market.