Press release
Global Manual Cutting Equipment Market Precision Cuts Toward USD 2.8 Billion by 2032 - Exclusive report by TMR
The global manual cutting equipment market was valued at US$ 1.8 Bn in 2022 and is estimated to grow at a CAGR of 5.1% from 2023 to 2032, reaching US$ 2.8 Bn by the end of the forecast period. The rising demand for DIY projects, increasing focus on home improvement, and growing adoption of sustainable practices are some of the key factors driving the growth of the manual cutting equipment market.Manual cutting equipment encompasses a range of hand-operated tools and devices used for cutting various materials such as metal, wood, plastic, and fabric in industrial, construction, automotive, and DIY applications. These tools provide versatility, precision, and portability for cutting tasks where power tools may not be suitable or available.
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Key Players
The key players in the manual cutting equipment market include:
• Enovis
• GENSTAR TECHNOLOGIES
• Messer Group
• Matheson Tri-gas Inc.
• Lincoln Electric Company
• Illinois Tool Works Inc.
• Air Liquide
• Linde Group
• GCE Holding AB
• Fronius International GmbH
Recent Developments:
• There is a growing trend towards cordless and rechargeable manual cutting equipment, as these tools offer greater convenience and portability.
• Manufacturers are also focusing on developing lighter and more ergonomic tools to reduce worker fatigue.
• There is an increasing focus on safety features, such as blade guards and dust collection systems.
Strategies for Companies
• Product Innovation: Investing in research and development to innovate new manual cutting tool designs, materials, and features that offer improved performance, ergonomics, and user experience, addressing specific market needs and application requirements.
• Market Expansion: Expanding market presence in key geographic regions and vertical industries, diversifying product portfolios to address niche markets and specialized applications, and targeting growth opportunities in sectors such as construction, manufacturing, and DIY.
• Brand Differentiation: Differentiating brands through product quality, reliability, and customer service, building brand loyalty and trust among end-users seeking durable and dependable manual cutting equipment for their cutting tasks.
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Market Segmentation
The manual cutting equipment market is segmented by product type, application, and distribution channel.
• Product type: The market is segmented into saws, knives, shears, and other equipment. Saws are the most popular type of manual cutting equipment, accounting for around 50% of the market.
• Application: The market is segmented into construction, woodworking, metalworking, gardening, and other applications. Construction is the largest application segment, accounting for around 30% of the market.
• Distribution channel: The market is segmented into direct sales, retail stores, and online sales. Direct sales are the most popular distribution channel, accounting for around 60% of the market.
Opportunities
There are a number of opportunities in the manual cutting equipment market, including:
• The growing demand for high-performance products: Consumers are increasingly demanding manual cutting equipment that is durable and easy to use.
• The expansion into new markets: The manual cutting equipment market is growing in emerging markets, such as Asia Pacific and Latin America.
• The development of new technologies: Manufacturers are developing new technologies, such as 3D printing, which could be used to create more customized and ergonomic manual cutting equipment.
Challenges
• Competition from Power Tools: Addressing competition from power tools such as electric saws, rotary cutters, and pneumatic shears, which offer higher speed, precision, and automation, challenging the market share of manual cutting equipment in certain applications.
• Price Sensitivity: Managing price sensitivity among end-users, particularly in cost-conscious industries such as construction and DIY, balancing product quality, features, and pricing to remain competitive and meet customer budget constraints.
• Safety Concerns: Ensuring user safety and compliance with occupational health and safety regulations, providing proper training, instruction manuals, and personal protective equipment (PPE) for users of manual cutting tools to minimize the risk of accidents and injuries.
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About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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