Press release
Cutting Equipment Market is estimated to reach a value of over US$ 5 Bn by 2025 end
Cutting Equipment Market
In the latest report by PMR on global cutting equipment market, the forecast has been revised until 2025. In 2017 was estimated to be US$ 3.6 Bn and is estimated to reach a value of over US$ 5 Bn by 2025 end. Owing to macro-economic growth factors (GDP, inflation, employment, spending) growth in the target market the market size has been revised for the entire forecast period.
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A major factor driving the growth of the global cutting equipment market, in the present scenario, is strong growth of the automotive sector. Furthermore, growing constructional industry supported by global megatrend of urbanization is expected to boost the growth of the global market. Moreover, promising demand from oil & gas industry, along with growing demand for cutting products from renewable energy industry are some of the factors which are estimated to drive the growth of global cutting equipment market during the forecast period.
However, the global cutting equipment market is expected to face some challenges. Slow adoption of advanced cutting technologies and high operating cost to remain detaining factor may impact the bargaining power of consumers. These are the factors that may impact the demand for cutting equipment, thus in turn is restricting the revenue growth of the global cutting equipment market.
Segmentation Analysis
The cutting equipment market is segmented by cutting technology into plasma, oxy-fuel, laser, waterjet, and carbon-arc
By cutting technology, laser cutting technology segment is anticipated to continue to dominate the market in terms of value over the forecast period. The waterjet segment is expected to reflect high value and volume growth during the forecast period and is expected to register a value CAGR of 7.4% throughout the period of forecast
In terms of equipment type, mechanized is estimated to dominate the global cutting equipment market with a high market valuation
By end use, the others segment is the largest with high market value. The shipbuilding and offshore segment is expected to rise at a high CAGR of 6.3% during the period of forecast
By region, Asia Pacific is expected to reflect high lucrativeness in the coming years. In 2016, majority of the cutting equipment were sold in Asia Pacific, followed by North America andEurope. The sales of cutting equipment in North America and Europe is expected to be driven by strong adoption of highly precise and advanced cutting technology.
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Prominent players operating in the Cutting Equipment Market players consist of the following:
The Lincoln Electric Company
Colfax Corporation
Illinois Tool Works
Ador Welding Ltd.
Jet Edge, Inc.
DAIHEN Corporation
Hypertherm Inc.
GCE HOLDING AB
Amada Miyachi America, Inc.
KOIKE ARONSON INC
WB ALLOY WELDING PRODUCTS LTD.
Kennametal Inc.
CERATIZIT S.A.
OMAX Corporation
About Industrial Automation Domain of PMR@ https://www.persistencemarketresearch.com/category/industrial-automation.asp
The Industrial Automation team at Persistence Market Research provides expert opinions and incisive inputs about broad array of products used extensively in the manufacturing industry. The team has compiled comprehensive market research reports on gears, valves, bearings, special purpose machinery, and other key segments in this evolving landscape. In addition to offering syndicated market research studies, the team consults clients from all across the globe on their unique, strategic needs. Need help with your next project? Feel free to reach out.
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