Global Cutting Equipment, Accessories, and Consumables Market: Snapshot
The global cutting equipment, accessories, and consumables market is being majorly boosted by demand in Asia Pacific and from end-use sectors such as residential, commercial, institutional, infrastructure, industrial, and marine.
Among the different types of consumables, the shielding gases and oxy-fuel gases currently dominate the market and are forecasted to gain maximum market share in the near future owing to increasing demand for argon gas by the industries to meet the demand.
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The various types of technologies leveraged in the market are carbon arc cutting, oxy-fuel cutting, plasma cutting, laser cutting, and water jet cutting. Powered by robust demand from developing economies such as India and China, the plasma cutting technology is anticipated to record maximum growth rate. It will likely be trailed by the laser cutting segment.
From a geographical perspective, Asia Pacific spearheads the global market for cutting equipment, accessories, and consumables and is projected to witness healthy growth in the near future as well. This is mainly on account of its large population base and growing demands for better residential, commercial, institutional, and infrastructure spaces.
Illinois Tool Works Inc., Colfax Corporation., Lincoln Electric Company, Air Liquide, and the Linde group are to name a few key players in the global market for cutting equipment, accessories, and consumables. Other prominent companies operating in the market are Muller, GCE holding AB, Messer group, Matheson tri-gas Inc., Fronius international GMBH, and Bug-O, Gentec. Currently astute companies are trying to come with cost-effective technologies to outsmart one another and capture greater market share.
Global Cutting Equipment, Accessories, and Consumables Market: General Outline
Cutting equipment are at the backbone of any manufacturing industry, and the related accessories and consumables are frequently required in order to maintain consistent production. Some of the common cutting equipment are handheld and mechanized plasma cutters, high definition plasma cutters, CNC plasma cutting tables, retrofit solutions, pipe and tube cutting machines, structural steel fabrication, shape cutting controllers, and plasma torch consumables. Due to the rising population across the world, which is not only escalating the demand from manufacturing industry but also encouraging the set-up of new production outlets and in turn fueling the demand for cutting equipment, accessories, and consumables.
This report on global cutting equipment, accessories, and consumables market is a comprehensive analysis of all the factors that are expected to influence the growth rate during the forecast period of 2017 to 2025. The report segments this market by technology, equipment, accessories and consumables, and geography. By technology, the market can be divided into carbon arc cutting, plasma cutting, laser cutting, oxy-fuel cutting, and water jet cutting. Bu equipment, the market is segmented into manual cutting equipment and mechanized cutting equipment.
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The segment of manual cutting equipment is further sub-segmented into oxy-fuel cutting, plasma cutting, gouging, portable cutting and, air or fuel torches. The segment of mechanized cutting equipment can be sub-segmented into oxy-fuel, plasma cutting, cutting tables, and cutting machines. By accessories, the market is divided into gas regulators, gas filters, gas flow meters, gas manifolds, gas panels, check valves, flow controllers, and gas cabinets. By consumables, the market is segmented into shielding gases and oxy-fuel gases.
Global Cutting Equipment, Accessories, and Consumables Market: Trends and Prospects
The credits the growing demand from the end-use industries such as commercial, residential, institutional, infrastructure, and marine are the prominent factor fueling the demand in global cutting equipment, accessories, and consumables market. Moreover, rapid industrialization, especially in the emerging economies in Asia Pacific such as India and China, is enticing players in this market to stretch their production capacity and meet the demand. The report anticipates consumables such as shielding gases and oxy-fuel gases to gain maximum traction over the period of next few years, due to the rising demand for argon gas by the industries. Also, plasma cutting as a technology is projected for robust growth rate, particularly from China and India, which are ranked as the first and second most lucrative country-wise market in the global cutting equipment, accessories, and consumables market.
Global Cutting Equipment, Accessories, and Consumables Market: Key Regions
Geographically, the report studies the regional markets of North America, Europe, Asia Pacific, and rest of the world, and rates Asia Pacific as the most lucrative market due to its vast population. The developed region of North America is rated as the second most prominent region.
Colfax Corporation., Lincoln Electric Company, Illinois Tool Works Inc., Air Liquide, and the Linde group are identified as the key players in the global cutting equipment, accessories, and consumables market. Other prominent players in this market identified by the report include GCE holding AB, Messer group, Fronius international GMBH, Matheson tri-gas Inc., Bug-O, Gentec, and Muller.
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