Press release
Comprehensive Cutting Equipment, Accessories & Consumables Market Forecast 2025-2034: Growth Trends and Strategic Shifts
Cutting Equipment, Accessories & Consumables
Cutting Equipment, Accessories & Consumables Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, the market size for cutting equipment, accessories & consumables has seen a consistent increase. The anticipated growth is expected to be from $9.19 billion in 2024 to $9.59 billion in 2025, with a compound annual growth rate (CAGR) of 4.3%. The historic development can be credited to factors such as the growth in the manufacturing and fabrication industries, the boom in automotive and aerospace manufacturing, rise in infrastructure and construction activities, emphasis on automation and efficient metalworking processes, and inclusion of cutting-edge materials in manufacturing.
Cutting Equipment, Accessories & Consumables Market Size Forecast: What's the Projected Valuation by 2029?
In the coming years, the market size for cutting equipment, accessories & consumables is anticipated to experience robust growth, expected to expand to $12 billion by 2029 with a compound annual growth rate (CAGR) of 5.8%. This predicted growth during the forecast period is attributed to the expansion of renewable energy and green technologies, market growth in developing economies and regions, the rising demand for bespoke and specialist cutting solutions, as well as the adoption of waterjet and abrasive waterjet cutting tech. Another contributing factor is the emphasis on recycling and environmental stability in cutting processes. Major trends to be watched in this timeframe are the progress in laser cutting tech, the integration of automation and robotics, plasma cutting techniques for thick materials, precision in micro-cutting and micromachining, and improved software and CAD/CAM synchronization.
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What Are the Drivers Transforming the Cutting Equipment, Accessories & Consumables Market?
The expansion of global steel and manufacturing sectors is propelling the advancement of the cutting equipment, accessories, and consumables market. The industries of steel and manufacturing involve transforming iron ore into steel, and the creation of varying steel grades through the removal of impurities like nitrogen, silicon, and phosphorus. Cutting equipment, accessories, and consumables assist these industries in accurately carving complex shapes swiftly, effectively, and economically, subsequently enhancing demand in the steel sector for these resources. For example, the UK steel market is projected by the Green Alliance, a UK charity organization, to grow up to 26% by 2030, as of August 2023. Additionally, as of September 2024, the Office for National Statistics, a UK government statistics department, reported that the total sales value of products by UK manufacturers hit £456.1 billion ($575.8 billion) in 2023, a rise 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 industries are the driving force behind the growth of the cutting equipment, accessories, and consumables market.
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What Are the Key Trends Driving Cutting Equipment, Accessories & Consumables Market Growth?
The cutting equipment, accessories, and consumables market is seeing a substantial rise in the uptake of innovative cutting technologies. Leading market participants are focusing on integrating groundbreaking technologies such as plasma and laser cutting into a variety of end-use sectors in order to achieve extremely precise dimensions and conserve energy. Plasma and laser cutting are adaptable and can be applied to a wide range of materials such as steel, iron, copper, brass, and other long-lasting materials. This not only assists in cutting curves and unusual shapes, but also in making multiple intersecting accurate cuts. For example, in October 2022, Rollomatic, a producer of high-precision CNC tool grinders and tool grinding centers/machines, unveiled a new laser model as part of its 3 laser cutting machine range. The LaserSmart 810XL model, equipped with an advanced and robust laser source, is specifically designed for larger-diameter PCD (polycrystalline diamond) tools and other incredibly hard materials.
Which Segments in the Cutting Equipment, Accessories & Consumables Market Offer the Most Profit Potential?
The cutting equipment, accessories & consumablesmarket 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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Which Firms Dominate the Cutting Equipment, Accessories & Consumables Market by Market Share and Revenue in 2025?
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 Regions Offer the Highest Growth Potential 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.
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