Global Cutting Equipment Expected to Reach Nearly US$ 5.5 Billion Valuation By 2025

Albany, USA, 2018-Feb-08 — /EPR Network/ —Market Research Reports Search Engine (MRRSE) analyzes the global cutting equipment market in a new publication titled “Cutting Equipment Market: Global Industry Analysis and Forecast, 2016–2024”. The main objective of the report is to identify dynamics in the market and provide recent updates and insights affecting various segments of the global cutting equipment market. To provide better understanding of the market, the report also includes an analysis of drivers, restraints, and trends in all five regions namely, Asia Pacific, North America, Europe, Latin America and the Middle East & Africa, which influence the current market scenario and future status of the global cutting equipment market over the forecast period.

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Increasing demand for mechanized cutting equipment in fabrication is expected to be one of the major trends fueling growth of the global cutting equipment market in the near future. In developed countries, due to the shortage of skilled labor, the demand for cutting automation technology for fabrication and manufacturing purposes is on a rise. Major companies in several developed countries in North America and Europe have started using cutting robots for their manufacturing processes in order to reduce dependency on manpower. Increasing labor costs in turn increase overall manufacturing cost of products, especially in developed countries. This trend is also gaining popularity in some developing countries.

Automotive, construction, manufacturing and shipbuilding industries to propel growth, especially in the APAC region

The global cutting equipment and consumables/accessories market was valued at above US$ 3.6 Bn in 2017 end and is expected to reach nearly US$ 5.5 Bn by the end of 2025, registering a CAGR of 5.2% over the forecast period. Rapid growth of end-use industries such as construction, automotive, shipbuilding & offshore, and manufacturing is expected to drive global growth of the cutting equipment market, especially in the APAC region over the assessment period.

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Global Cutting Equipment Market Forecast, by Cutting Technology

 

• Global sales revenue of the cutting equipment market is expected to register stable growth during the forecast period. Growing deployment in end-use industries such as shipbuilding & offshore and automotive is expected to augment market growth

 

• In terms of value, the plasma cutting segment is expected to exhibit a CAGR of 4.2% over the forecast period. In cost-sensitive regions such as APAC and MEA, the plasma cutting segment is estimated to grow at a good pace over the forecast period. In terms of value, the laser cutting segment is expected to dominate the market over the forecast period

 

• The carbon arc segment is expected to grow at a listless CAGR during the forecast period. This decline is primarily due to slow adoption of this technology in developing countries such as India, China, Brazil, and South Africa region

 

• The oxy fuel segment is expected to reach a valuation of about US$ 680 Mn by 2025 end growing at a 2.4% value CAGR during the period of assessment.

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