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Cutting Equipment Market Anticipated To Be Valued At Over US$ 5 Bn By 2025
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Artificial Intelligence would be the torchbearer of industrial automation in the next decade. The AI-related techniques are bound to lead not just the wave of technological advancements, but also prove to be economically relevant. This could be credited to powerful and flexible machine software. Also, in future, functional tests concerned with manufacturing equipment are likely to be performed by making use of comprehensive modes regarding virtual and simulation commissioning.
Production machines would thus be digitally fed, that too, with the “live” data all through the equipment’s lifecycle. Wireless protocols such as 5G would be the buzzword going forward. Persistence Market Research is there with the automation-oriented mindsets of its analysts and consultants followed by insights regarding the same.
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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Vendor Insights
The report highlights some of the top companies operating in the global cutting equipment market such as The Lincoln Electric Company, Colfax Corporation, Illinois Tool Works, Daihen Corporation, Hypertherm Inc., GCE Holding AB, Amada Miyachi America Inc., Koike Aronson Inc., Genetec (Shanghai) Corporation, among others.
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