Press release
Primary Catalyst Driving Cutting Equipment, Accessories & Consumables Market Evolution in 2025: Growth In Steel And Manufacturing Industries Boosts Cutting Equipment Market Driver
Cutting Equipment, Accessories & Consumables Market
The global expansion of the steel and manufacturing sectors is fueling the growth of the market for cutting equipment, accessories, and consumables. The steel and manufacturing industries involve the transformation of iron ore into steel, as well as the refinement of various steel grades by removing impurities such as nitrogen, silicon, and phosphorus from the iron provided. This process uses cutting equipment, accessories, and consumables to carve intricate shapes accurately while being speedy, efficient, and economical; hence, growth in the steel sector results in a greater demand for these tools. For instance, Green Alliance, a charity organization based in the UK, projected that the UK steel sector will grow up to 26% by 2030 in August 2023. Likewise, in September 2024, the Office for National Statistics, a UK government department for statistics, stated that the total sales value of products by UK manufacturers escalated to £456.1 billion ($575.8 billion) in 2023, signifying an increment of £17.2 billion ($21.5 billion), or 3.9%, from £438.9 billion ($554.3 billion) in 2022. Consequently, the burgeoning steel and manufacturing sectors are propelling the growth of the market for cutting equipment, accessories, and consumables.
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What growth opportunities are expected to drive the cutting equipment, accessories & consumables market's CAGR through 2034?
In the past few years, the market size for cutting equipment, accessories & consumables has experienced significant growth. There will be an increase from $9.19 billion in 2024 to $9.71 billion in 2025, indicating a compound annual growth rate (CAGR) of 5.7%. The historical growth can be credited to the expansion in manufacturing and fabrication industries, scaling up of automotive and aerospace manufacturing, surge in infrastructure development and construction activities, emphasis on automation and efficiency in metalworking procedures, and the incorporation of innovative materials in manufacturing.
Expectations for the cutting equipment, accessories & consumables market point towards a significant expansion in the forthcoming years. The market is projected to reach $12.38 billion by 2029, reflecting a compound annual growth rate (CAGR) of 6.3%. Factors such as the growth in renewable energy and green technologies, market diffusion in emerging economies and developing regions, the need for customized and special cutting solutions, the utilization of waterjet and abrasive waterjet cutting technology, and a concentration on environmental sustainability and recycling in cutting procedures are driving this growth. The forecast period is set to witness trends like progress in laser cutting technology, incorporation of automation and robotics, use of plasma cutting for the processing of thick materials, precision in micro-cutting and micromachining and, improved software and cad/cam integration.
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What are the emerging trends shaping the future of the cutting equipment, accessories & consumables market?
The cutting equipment, accessories, and consumables market is experiencing an increasing trend of adopting advanced cutting technologies. Key players in the market are focusing on utilizing groundbreaking technologies such as plasma and laser cutting in diverse end-user sectors. This application aims to achieve precise dimensions, conserve energy, and work on a range of materials including steel, iron, copper, brass, among other resilient materials. Plasma and laser cutting techniques also assist with cutting complex shapes, curves, and intersecting cuts with precision. To illustrate, in October 2022, high precision CNC tool grinders and tool grinding centers/machine manufacturer, Rollomatic, unveiled a new laser model in its 3 laser cutting machine range. The LaserSmart 810XL model, with its advanced and potent laser source, is specifically designed for larger-diameter PCD tools (polycrystalline diamond) and other ultra-hard materials.
Which growth-oriented segments of the cutting equipment, accessories & consumables market are leading the industry's development?
The cutting equipment, accessories & consumables market covered in this report is segmented -
1) By Type: Manual Cutting Equipment, Mechanized Cutting Equipment, Other Type
2) By Technology: Carbon Arc Cutting, Plasma Cutting, Oxy-Fuel Cutting, Laser Cutting, Water Jet Cutting
3) By End-User: Construction, Heavy Metal Fabrication, Shipbuilding And Offshore, Automotive, Other End-User
Subsegments:
1) By Manual Cutting Equipment: Handheld Cutting Tools (e.g., scissors, knives), Manual Shears, Utility Cutters
2) By Mechanized Cutting Equipment: CNC Cutting Machines, Laser Cutting Machines, Plasma Cutting Machines, Water Jet Cutting Machines
3) By Other Type: Abrasive Cutting Equipment, Electric Cutting Tools, Specialty Cutting Equipment
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What regions are leading the charge in the cutting equipment, accessories & consumables market?
Asia-Pacific was the largest region in the cutting equipment, accessories, and consumables market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the cutting equipment, accessories & consumables market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What companies are at the forefront of innovation in the cutting equipment, accessories & consumables market?
Major companies operating in the cutting equipment, accessories & consumables market include Colfax Corporation, GCE Group AB, Gentec Corp., Hypertherm Inc., Illinois Tool Works Inc., Messer Group GmbH, Müller Opladen GmbH, African Oxygen Ltd., BOC Ltd., Bug-O Systems Inc., GasIQ AB, Koike Aronson Inc., Linde AG, DMG Mori Seiki Co., ABB Group, American Welding And Gas., ANCA Pty Ltd., Baker Hughes Company, Bystronic AG, Lincoln Electric Holdings Inc., Elektriska Svetsnings-Aktiebolaget, Fronius International GmbH, BURNY Kaliburn Lincoln Electric Co., C&G Systems, CNC Clear Cut, Daito Seiki Co. Ltd., HG Farley LaserLab Co, Flow International Corporation, HACO-FAT, Hornet Cutting Systems, Jet Edge Inc., KMT Waterjet Systems, Komatsu NTC Ltd., KUKA AG, LVD Company nv, Mazak Corporation, OMAX Corporation, Prima Power, Salvagnini America Inc., SigmaTEK Systems LLC, Tanaka Holdings Co. Ltd., Techni Waterjet
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What Is Covered In The Cutting Equipment, Accessories & Consumables Global Market Report?
•Market Size Forecast: Examine the cutting equipment, accessories & consumables market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the cutting equipment, accessories & consumables market for a structured understanding.
•Key Players Overview: Analyze major players in the cutting equipment, accessories & consumables market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the cutting equipment, accessories & consumables market.
•Segment Contributions: Evaluate how different segments drive overall growth in the cutting equipment, accessories & consumables market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the cutting equipment, accessories & consumables market.
•Industry Challenges: Identify potential risks and obstacles affecting the cutting equipment, accessories & consumables market.
•Competitive Landscape: Review strategic developments in the cutting equipment, accessories & consumables market, including expansions, agreements, and new product launches.
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