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Growth In Steel And Manufacturing Industries Boosts Cutting Equipment Market: Strategic Insights Driving Cutting Equipment, Accessories & Consumables Market Momentum in 2025
Cutting Equipment, Accessories & Consumables
How Large Will the Cutting Equipment, Accessories & Consumables Market Size By 2025?
The market size of cutting equipment, accessories and consumables has seen a substantial growth over the past few years. Its value is projected to rise from $9.19 billion in 2024 to $9.71 billion in 2025, marking a compound annual growth rate (CAGR) of 5.7%. This steady growth over the historic period can be credited to the expansion of manufacturing and fabrication sectors, the broadening scope of automotive and aerospace manufacturing, the surge in infrastructure development and building projects, emphasis on automation and optimization in metalworking procedures, and incorporation of innovative materials in the manufacturing process.
How Big Is the Cutting Equipment, Accessories & Consumables Market Size Expected to Grow by 2029?
The market for cutting equipment, accessories and consumables is predicted to experience considerable growth in the coming years, escalating to a valuation of $12.38 billion in 2029 with a CAGR of 6.3%. This upswing during the forecast duration can be explained by the rise in renewable energy and green technologies, the enlargement of the market in emerging economies, the increased demand for customised and special cutting solutions, the adoption of waterjet and abrasive waterjet cutting technologies, and an emphasis on environmental sustainability and recycling. Noteworthy trends expected within the forecast period are the advancements in laser cutting techniques, the implementation of automation and robotics, plasma cutting for dense materials, precision micro-cutting and micro-machining, and improved software along with CAD/CAM integration.
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Which Key Market Drivers Powering Cutting Equipment, Accessories & Consumables Market Expansion and Growth?
The global expansion of the steel and manufacturing sectors is playing a significant role in stimulating the growth of the market for cutting equipment, accessories, and consumables. This refers to businesses that process iron ore into various grades of steel by removing elements like nitrogen, silicon, and phosphorus. With their ability to create complex shapes with high precision in a quick, effective, and cost-friendly manner, cutting equipment, accessories, and consumables are seeing an increased demand due to the growth in the steel industry. For instance, Green Alliance, a charity based in the UK, projected in August 2023 that the UK's steel market could grow as much as 26% by 2030. Additionally, in September 2024, according to data from the UK's Office for National Statistics, the total sales value of products by UK manufacturers in 2023 reached £456.1 billion ($575.8 billion), a dramatic rise of £17.2 billion ($21.5 billion), or 3.9%, from £438.9 billion ($554.3 billion) in 2022. Therefore, the development in the steel and manufacturing sectors is propelling the market for cutting equipment, accessories, and consumables.
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Which Fast-Growing Trends Are Poised to Disrupt the Cutting Equipment, Accessories & Consumables Market?
The cutting equipment, accessories, and consumables market is seeing an increasing trend towards the usage of sophisticated cutting technologies. Predominant market actors are intensifying their focus on employing new and inventive technologies like plasma and laser cutting across various end-user sectors to attain precise dimensions and conserve energy. Plasma and laser cutting are adaptable and can be used on a variety of materials such as steel, iron, copper, brass, and other robust materials. It also assists in cutting curves, unusual shapes, and intersecting exact cuts. For example, in October 2022, Rollomatic, a high-precision CNC tool grinders and tool grinding centers/machines manufacturer, introduced a new laser model within their range of 3 laser cutting machines. The new LaserSmart 810XL model, with its innovative and powerful laser source, is designed for larger-diameter PCD tools (polycrystalline diamond) and other ultra-hard materials.
What Are the Emerging Segments in 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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Who Are the Global Leaders 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
Which are the Top Profitable Regional Markets for the Cutting Equipment, Accessories & Consumables Industry?
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.
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