Global Cutting Equipment Market Revenue Grows at a Steady CAGR of 5.43%

Introduction

Straits Research today released its highly anticipated report, “Cutting Equipment Market Size & Outlook, 2026-2034”. According to the study, the market size is valued at USD 36.01 billion in 2025 and is projected to expand to USD 57.75 billion by 2034 registering a compound annual growth rate (CAGR) of 5.43%.

Market Dynamics

The market growth is primarily attributed to rapid advancements in laser, plasma, and waterjet technologies, along with the integration of automation and digital control systems that are transforming industrial cutting operations. These technological innovations enable higher precision, faster processing, and reduced material wastage, driving adoption across industries such as automotive, construction, shipbuilding, and aerospace. For instance, in March 2025, TRUMPF introduced its next-generation TruFiber laser systems with enhanced beam quality and energy efficiency, enabling high-speed cutting of complex geometries while lowering operational costs. This reflects how innovation in laser control and power optimization is shaping the market toward intelligent, energy-efficient manufacturing.

However, the high initial cost of advanced cutting machinery, coupled with the shortage of skilled operators and maintenance specialists, continues to hinder market growth. Small and medium enterprises (SMEs), particularly in developing economies, face challenges in adopting fully automated cutting systems due to financial constraints and limited access to digital infrastructure.

Despite these challenges, the market offers several growth opportunities through the adoption of Industry 4.0 and smart manufacturing ecosystems. The increasing use of AI-based process monitoring, IoT-integrated cutting cells, and robotic automation is enabling predictive maintenance, consistent product quality, and operational flexibility. For instance, in June 2025, Bystronic unveiled its new ByTube Star 130 system with AI-driven automation modules that allow real-time process optimization and remote production control. Such developments indicate how digital transformation and connected manufacturing are redefining productivity and competitiveness in the global cutting equipment market.

Key Highlights

• By Technology: According to Straits Research, the laser cutting segmentdominated the market in 2025, with a revenue share of 54%.
• By Automation: The semi-automated cutting systems segment is estimated to register the fastest CAGR growth at 6.0%.
• Based on Material Type: The Ferrous metals category dominated the market in 2025 with a revenue share of 48%.
• By End-Use Industry: The Automotive segment is projected to register the fastest CAGR of 6.4% during the forecast period.
• Regional Insights: North America dominates with over 43.45% share, driven by dense concentration of end-users, deep penetration of advanced technologies, and a mature aftermarket ecosystem.

Competitive Players

1. TRUMPF (Trumpf Inc. and Farmington operations)
2. AMADA
3. Bystronic
4. Mazak (Yamazaki Mazak)
5. Prima Power
6. Flow International
7. Hypertherm
8. ESAB
9. Mitsubishi Heavy Industries
10. Haas Automation
11. Koike
12. Piranha (Piranha/Voortman-type integrators)
13. Salvagnini
14. Prima Industries
15. BLM Group
16. Messer Cutting Systems
17. Lincoln Electric
18. Cytro
19. Cloos
20. LVD
21. KMT Waterjet
22. PELI/Peli BioThermal

Recent Developments

• May 2025 - Connecticut awarded TRUMPF a $2.5 million grant under a Strategic Supply Chain Initiative to expand its North American production and training capacity in Farmington, supporting a press-brake and tube-laser production line and apprenticeship growth.

Segmentation

1. By Cutting Technology (2026-2034)
   1. Laser (fiber, CO₂, solid-state)
   2. Plasma (high definition, conventional)
   3. Waterjet (abrasive, pure)
   4. Oxy-fuel / flame cutting
   5. Ultrasonic (e.g. laser + ultrasonic, hybrid)
2. By Automation (2026-2034)
   1. Manual/standalone
   2. Semi-automated
   3. Fully automated / robotic cell integration
3. By Material Type (2026-2034)
   1. Ferrous metals (steel, iron)
   2. Non-ferrous metals (aluminum, copper, brass)
   3. Composites/plastics/carbon fiber
   4. Stone/glass/ceramics
4. By End-Use Industry (2026-2034)
   1. Automotive
   2. Aerospace & Defense
   3. Metal Fabrication / Job Shops
   4. Construction & Infrastructure
   5. Energy / Power / Oil & Gas
   6. Shipbuilding / Marine
   7. Electronics / Medical Devices
   8. Others
5. By Region (2026-2034)
   1. North America
   2. Europe
   3. Asia-Pacific
   4. Latin America
   5. Middle East and Africa