(EMAILWIRE.COM, December 11, 2018 ) The global metalworking machinery manufacturing market, a part of the machinery manufacturing industry, grew at a compound annual growth rate (CAGR) of around 10% during the historic period. The growth is mainly due to rising global economic activity, public and private investments in end user industries and increasing need of efficient machines in the manufacturing industry.
In the forecast period, the global metalworking machinery manufacturing market size is expected to be over $390 billion by 2021, growing at a CAGR of nearly 6%. The growth in the forecast period is expected to decline when compared in the historic period. This is mainly due to high costs incurred by machinery manufacturers and stringent government regulations for carbon emissions.
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Companies in the metalworking manufacturing market are producing 3D laser processing machines to reduce processing time for laser cutting and welding applications. 3D laser is a 5-axle laser machine that cuts sheet-metal components in three dimensions. Several metals including mild steel, stainless less and aluminum can be cut using lasers. Laser cutting technique significantly reduces the processing time and costs incurred during the cutting process of metals. Other benefits include localized laser energy input, high feed rate and minimal heat input. 3D lasers are generally used in automotive and aerospace industry for cutting or welding of aluminum parts, drilling of engine parts, and laser surfacing of used parts. For instance, the global 3D laser cutting market is expected to grow at a CAGR of 9% until 2020, thus indicating a significant rise in the use of this technology. Major companies producing 3D laser cutting machines are Mitsubishi electric, Trumpf, LST GmbH, Mazak.
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