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Global Cutting Equipment, Accessories & Consumables Market Analysis 2025-2030: Growth Drivers, Challenges, And Opportunities
Cutting Equipment, Accessories & Consumables
How Big Is the Cutting Equipment, Accessories & Consumables Market Size Expected to Be by 2034?
The market size for cutting equipment, accessories and consumables has seen significant growth in the past few years. Predictions indicate a rise from $9.19 billion in 2024 to $9.71 billion in 2025, showcasing a compound annual growth rate (CAGR) of 5.7%. This is largely due to the expansion in manufacturing and fabrication industries, automotive and aerospace manufacturing, as well as the surge in infrastructure development and construction activities. Other contributing factors include the emphasis on automation and efficiency in metalworking processes and the adoption of cutting-edge materials in the manufacturing industry.
Expectations are high for the market size of cutting equipment, accessories and consumables, with robust growth anticipated in the coming years. By 2029, the market is projected to be valued at $12.38 billion, progressing at a compound annual growth rate (CAGR) of 6.3%. Factors contributing to this growth during the forecast period include the rise in renewable energy and green technologies, the expansion of the market into developing regions and emerging economies, an increased demand for specialized and customized cutting solutions, the use of waterjet and abrasive waterjet cutting technologies, and an emphasis on recycling and environmental sustainability in cutting processes. The forecast period is also set to see major trends such as improvements in laser cutting technology, the incorporation of automation and robotics, the utilization of plasma cutting for thick materials, the advent of precision micro-cutting and micromachining, and improved software and CAD/CAM integration.
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What Are the Emerging Segments Within the Cutting Equipment, Accessories & Consumables Market?
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 Long-Term Drivers Are Shaping Cutting Equipment, Accessories & Consumables Market Trends?
The global expansion of steel and manufacturing sectors is fueling the growth of the market for cutting equipment, accessories, and consumables. The steel and manufacturing sectors involve iron ore conversion into steel of varying grades by filtering out contaminants such as nitrogen, silicon, and phosphorus. Cutting tools, accessories, and consumables provide these industries with the capability to accurately create intricate shapes in a speedy, efficient, and economical manner. This way, the expansion in the steel sector elevates the demand for these cutting equipment, accessories, and consumables. For example, the UK steel market is projected to grow by up to 26% by 2030, as reported by the Green Alliance, a UK charity, in August 2023. Moreover, in September 2024, according to the Office for National Statistics, a UK government statistics department, the total sales value of products produced by UK manufacturers amounted to £456.1 billion ($575.8 billion) in 2023, a year-on-year increase of £17.2 billion ($21.5 billion), or 3.9%, from £438.9 billion ($554.3 billion). Consequently, escalating steel and manufacturing sectors are propelling the market for cutting equipment, accessories, and consumables forward.
Who Are the Top Competitors in Key Cutting Equipment, Accessories & Consumables Market Segments?
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
What Cutting Equipment, Accessories & Consumables Market Trends Are Gaining Traction Across Different Segments?
The cutting equipment, accessories, and consumables market is experiencing a growing interest in the use of advanced cutting technologies. Key players in the market are focusing on the incorporation of innovative techniques such as plasma and laser cutting across varied end-use sectors to attain specific sizes with extreme accuracy and energy conservation. These adaptable cutting methods can be applied to numerous materials such as steel, iron, copper, brass, and other resilient materials. They also assist in cutting curves, complex shapes, and multiple intersecting precise cuts. For example, in October 2022, Rollomatic, a manufacturer of high-precision CNC tool grinders and tool grinding machines, unveiled a new laser model in its range of three laser cutting machines. The LaserSmart 810XL, with its novel and potent laser source, is purposely designed for larger PCD tools (polycrystalline diamond) and other ultra-hard materials.
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Which Regions Are Becoming Hubs for Cutting Equipment, Accessories & Consumables Market Innovation?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Cutting Equipment, Accessories & Consumables Market?
2. What is the CAGR expected in the Cutting Equipment, Accessories & Consumables Market?
3. What Are the Key Innovations Transforming the Cutting Equipment, Accessories & Consumables Industry?
4. Which Region Is Leading the Cutting Equipment, Accessories & Consumables Market?
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