Handheld Plasma Cutters Market Size, Share, Growth, and Industry Analysis, By Type (1-phase Power and 3-phase Power), By Application (Automotive, Industrial and General Fabrication, HVAC and Others) and Regional Forecast to 2032

Updated On: 12 August 2024

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HANDHELD PLASMA CUTTERS MARKET REPORT OVERVIEW

The global Handheld Plasma Cutters Market size was USD 883.6 million in 2023 and the market is projected to touch 2036.8 million by 2032, exhibiting a CAGR of 8.8% during the forecast period.

The Handheld Plasma Cutters Market has continued to grow in the recent past due to factors such as; Automotive, construction, Metal fabrication among others. These portable cutting tools have the ability to perform fine cuts and are flexible to use Hence they are used in small businesses, home based or even offices by different people.

Some of factors that have fuelled this market include increased usage of higher plasma cutting technology that increases cutting speed and accuracy and decreases operating expenses. Also, cuts have shifted towards lighter and easier to handle handheld plasma cutters to drive their demand in applications where flexibility is key. There are also various improvements concerning the power source, consumables, and automation that helps boost productivity and efficiency of the market’s end-users.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering; with the Handheld Plasma Cutters Market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Ongoing restrictions and lockdowns resulted in numerous disruptions within the delivery chains of handheld plasma cutters by preventing the availability of raw substances and components important for production. Some of the elements that rocked the market in the quick run were production and distribution hitches. Reduced production capabilities of manufacturing plants or businesses during the pandemic as well as reduced overall production activities led to lower demand of handheld plasma cutters especially for automotive and construction businesses.

Due to uncertain economic environment and financial challenges that businesses experienced under the pandemic, most businesses have been reluctant on their spending and have not made any improvements on their technologies such as plasma cutting equipment. Several productions were delayed or even abandoned completely, which ultimately affected the overall turnover and income. The market is anticipated to boost the Handheld Plasma Cutters Market growth following the pandemic.

LATEST TRENDS

"Integration of Advanced Technologies to Drive Market Growth"

Companies are incorporating different innovations in device handheld plasma cutters including; Artificial intelligence (AI) and Internet of Things (IoT). This integration enables the measurement, in real time, of cutting parameters, the observation of the conditions in which the equipment is being used, the estimation of maintenance needs and the degree of automation, thus contributing to a higher level of performance. There is a trend towards developing highly portable and easy to manoeuvre handheld plasma cutters. These designs increase comfort to the user, decrease fatigue to the operator when the equipment is used for lengthy periods and increase manoeuvrability in close quartered areas, thus proving useful in numerous markets. These latest developments are anticipated to boost the Handheld Plasma Cutters Market share.

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Handheld Plasma Cutters Market SEGMENTATION

By Type

Based on type the global market can be categorized into 1-phase Power and 3-phase Power.

• 1-Phase Power Handheld Plasma Cutters: These plasma cutters are run-on single-phase power source which may entail 120V or 240V AC. They are appropriate for cutting jobs that do not require high-intensity cutting, such as home-based, small scale, and non-commercial projects, workshops, and intermittent cutting working on repair and maintenance. 1-phase power handheld plasma cutters are usually small-sized, light weighed and can be easily handled and relocated from one site to another or run in places where other tools have to be moved frequently.
• 3-Phase Power Handheld Plasma Cutters: These plasma cutters also need Three phase power supply usually in AC 208V, 220V, 380V or 480 V. They are meant for powerfully severing cuts, for commercial uses, metal constructions, and for using in intensive performing circumstances. 3-phase power handheld plasma cutters provide more power compared to 1-phase ones, which means that it’ll be able to cut more quickly, penetrate more deeply, and can now cut through thicker materials.

By Application

Based on application the global market can be categorized into Automotive, Industrial and General Fabrication, HVAC and Others.

• Automotive: Handheld plasma cutters are typically used in the automotive work because they are easy to move and cut car bodies, chassis parts or even brackets, exhaust systems and structural elements. Which can then be applied to provide automotive manufacturers and garages with precise cutting that allows them to generate smooth, burr-free cuts on steel, aluminium, and stainless steel.
• Industrial and General Fabrication Handheld plasma cutter is an important equipment in construction industry, machinery manufacturing industry, metal cutting industry, used for cutting metal sheets, metal plates, pipes and structure. They are each likely versatile and hard tools that cut steel, aluminum, copper, brass, alloys, and additional and so will be previous useful for the majority of applications.
• HVAC (Heating, Ventilation, and Air Conditioning): handheld plasma cutters can cut metal ductwork components -such as ducts, fittings, flanges, and vents--providing the needed challenging cuts necessary to keep air flowing freely in an HVAC system. These are good for slicing thinner to medium gauge sheet metals typically found in HVAC installations: most of the time galvanized metal, aluminum, and stainless-steel sheets. Handheld plasma cutters have become increasingly popular among HVAC contractors and fabricators who use these portable machines to customize ductwork, cut access panels and make repairs to HVAC

DRIVING FACTORS

"Industrial Growth and Infrastructure Development to Boost the Market"

The market for hand held plasma cutters is carefully connected to business boom and infrastructure development sports. Increased investments in sectors inclusive of construction, automobile, shipbuilding, and steel fabrication force the demand for slicing gear, which include hand-held plasma cutters, to meet the requirements of cutting and shaping steel additives. Handheld plasma cutters provide tremendous advantages over conventional reducing strategies which include oxygen-gas cutting or mechanical reducing. These advantages include quicker slicing speeds, superior precision, minimum heat-affected zones, and the potential to reduce a wide range of metals and thicknesses. As a result, industries prefer hand-held plasma cutters for his or her efficiency and versatility.

"Growing DIY and Small-Scale Fabrication Activities to Expand the Market"

The rise in do-it-yourself (DIY) projects, hobbies, and small-scale fabrication workshops fuels the call for handheld plasma cutters amongst personal customers and small companies. Affordable handheld fashions, coupled with their ease of use and portability, led them to famous pick of small-scale fabricators. Manufacturers are prioritizing protection capabilities and ergonomic designs in handheld plasma cutters, addressing concerns associated with operator protection and comfort during use. Safety mechanisms together with thermal overload protection, voltage regulation, and ergonomic handle designs enhance user experience and drive marketplace adoption. These factors are anticipated to drive the Handheld Plasma Cutters Market share.

RESTRAINING FACTOR

"Consumable Costs and Maintenance to Potentially Impede Market Growth"

The preliminary fee of buying handheld plasma cutters, in particular superior fashions with present-day generation and capabilities, can be distinctly excessive. This component can act as a barrier to access for small-scale fabricators, DIY fanatics, and groups with limited budgets, restraining marketplace increase amongst sure purchaser segments. Handheld plasma cutters require normal protection, consisting of the alternative of consumables which include electrodes, nozzles, and shields. The ongoing prices associated with consumables and renovation can add up over the years, impacting the general fee of possession and probably discouraging a few users from making an investment in this equipment. These factors are anticipated to hinder the Handheld Plasma Cutters Market growth.

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Handheld Plasma Cutters Market REGIONAL INSIGHTS

"North America is Dominating the Market with Advanced Industrial Infrastructure and Demand from End-User Industries"

The market is primarily segmented into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

North America has a well-established business infrastructure, that incorporates sectors that include automobiles, aerospace, production, metallic fabrication, and manufacturing. These industries have an excessive demand for lowering tools, which incorporate handheld plasma cutters, to satisfy their production and fabrication necessities. The area's various commercial bases, together with car production, aerospace engineering, shipbuilding, metal fabrication, and infrastructure development, generate a big demand for reducing equipment like hand-held plasma cutters. These gears are crucial for slicing and shaping steel additives in diverse programs. The region is known for its cognizance of technological advancements and innovation in production approaches. This includes the improvement of superior plasma cutting technologies, CNC structures, automation solutions, and virtual integration, which contribute to the increase in the hand-held plasma cutter market.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

The Handheld Plasma Cutters Market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, materials, and smart features in handheld plasma cutters, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market

List of Market Players Profiled

• Hypertherm [U.S.]
• Lincoln Electric [U.S.]
• ESAB [U.S.]
• ITW (Illinois Tool Works) [U.S.]
• GYS [France]

INDUSTRIAL DEVELOPMENT

March 2021: The market for manual plasma cutters comprises manual plasma cutters that are operated manually by the workers at workplaces. The market for manual plasma cutter is projected to register a relatively high growth rate due to the demand for advanced plasma cutting systems. In the market for manual plasma cutter, the manufacturers are concentrating on the technological innovations for providing customers advanced plasma cutting systems with accessories and consumables. The plasma cutting systems are getting integrated with IoT (Internet of Things) technology in order to provide advanced remote monitoring, data analysis, predictive repair and automation in the plasma cutting operations. Hypertherm, Hanover, New Hampshire, USA, is a player in this process. Hypertherm’s portfolio of handheld plasma cutters now have IoT-enabled capabilities that allow customers to view the cut, monitor machine status and be alerted when consumables require maintenance. Customers can also create optimized cutting patterns that are efficient, effective and fast.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.