Technological Advancements and Government Initiatives are Driving the Plasma Cutting System Market

Global plasma cutting system market is anticipated to grow at a CAGR of 5.5% during the forecast period (2024-2031). The market growth is driven by the growing application of plasma-cutting machines in end-user industries such as construction, metal fabrication, and shipbuilding among others. Additionally, the advancements in plasma cutting technology with the introduction of high-definition plasma cutting, provide for squarer edge-cutting contributing to market growth.   

The global plasma cutting system market is segmented by type (portable, stationary), by end-user vertical (aerospace & defense, industrial construction, electrical equipment, automotive, other), and by geographies (North America, Europe, Asia-Pacific, and Rest of the World). 

North America is anticipated to exhibit considerable growth in the global plasma-cutting system market during the forecast period, owing to the huge investment by key market players in plasma-cutting technologies. In addition, Asia-Pacific is anticipated to hold a considerable market share, attributing to growing government support and initiatives in the region, such as, ‘Make in India’, ‘Made in China’, and ‘Aatmanirbhar Bharat’ among others. Further, the growing automotive industry in the region, driven by domestic consumption and exports, is significantly contributing to the regional market growth as plasma cutting is integral to the fabrication of automotive components. Additionally, technological advancements in plasma cutting, for enhanced precision, improved cutting speed and increased automation are contributing to market growth.

The major players in the plasma cutting system market include Hypertherm, Esab, Komatsu Ltd, Nissan Tanaka, and Messer Cutting systems among others. The market players are contributing significantly to the market growth, by the adoption of various business strategies, such as collaborations, mergers and acquisitions, product portfolio diversification, and more. 

Recent Developments 

• In October 2024, Messer Cutting Systems is organizing its annual Fabtech Expo 2024. The event is taking place at Booth S11085, Florida October 15-17, 2024. The company plans to launch its Element 400 cutting machine, and the novel  MetalMaster 3.0, a compact 5? x 10? unitized cutting machine equipped with a downdraft table, during the event.

• In September 2023, Kjellberg launched its new power source K 200, at the exhibition Schweißen & Schneiden. The power source cuts with oxygen, air, and nitrogen, with a maximum cutting current of 200 A. It is applicable for cutting material thickness ranges from 1 to 60 mm. The product additionally features a marking function, integrated automatic gas control, and a torch with a direct connection. The K 200 can be fully integrated into CNC guidance systems and, thus can be controlled, and monitored using a smartphone. 

• In October 2022, Hypertherm Associates, a US-based manufacturer of industrial cutting products and software, unveiled its  Hypertherm® technology brand, offerings at Booth E158, the Powermax SYNC®. The product features built-in intelligence and a single-piece consumable cartridge to automate plasma cutting. It additionally launched the X-Definition® plasma and a new HPR® cartridge for HPRXD® plasma systems. The product will will simplify plasma cutting helping customers reduce labor and training expenses. The event also introduced ProNest®. ProNest CAD/CAM nesting software enables integration with SureCut™, technology to simplify cutting and reduce the need for operator intervention.