Industrial, Manufacturing & Heavy Industry Market News

Cutting equipment market to hit US$ 5 bn by 2025

Industrial Market Research

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.

Persistence Market Research delivers key insights on the global cutting equipment and consumable/accessory market in its latest report titled ‘Cutting Equipment Market: Global Industry Analysis (2012-2016) and Forecast (2017 – 2025)’. In this report, Persistence Market Research throws light on drivers and restraints likely to impact the market during the forecast period.

In the latest report by PMR on global cutting equipment market, the forecast has been revised until 2025. In 2017 was estimated to be US$ 3.6 Bn and is estimated to reach a value of over US$ 5 Bn Mn by 2025 end.

Owing to macro-economic growth factors (GDP, inflation, employment, spending) growth in the target market the market size has been revised for the entire forecast period.

A major factor driving the growth of the global cutting equipment market, in the present scenario, is strong growth of the automotive sector. Furthermore, growing constructional industry supported by global megatrend of urbanization is expected to boost the growth of the global market.

Moreover, promising demand from oil & gas industry, along with growing demand for cutting products from renewable energy industry are some of the factors which are estimated to drive the growth of global cutting equipment market during the forecast period.

However, the global cutting equipment market is expected to face some challenges. Slow adoption of advanced cutting technologies and high operating cost to remain detaining factor may impact the bargaining power of consumers.

These are the factors that may impact the demand for cutting equipment, thus in turn is restricting the revenue growth of the global cutting equipment market.

By cutting technology, laser cutting technology segment is anticipated to continue to dominate the market in terms of value over the forecast period. The waterjet segment is expected to reflect high value and volume growth during the forecast period and is expected to register a value CAGR of 7.4% throughout the period of forecast.

In terms of equipment type, mechanized is estimated to dominate the global cutting equipment market with a high market valuation.By end use, the others segment is the largest with high market value. The shipbuilding and offshore segment is expected to rise at a high CAGR of 6.3% during the period of forecast.

By region, Asia Pacific is expected to reflect high lucrativeness in the coming years. In 2016, majority of the cutting equipment were sold in Asia Pacific, followed by North America andEurope.

The sales of cutting equipment in North America and Europe is expected to be driven by strong adoption of highly precise and advanced cutting technology.

Access Sample of Research Report @ www.persistencemarketresearch.com/samples/13255

The report highlights some of the top companies operating in the global cutting equipment market such as The Lincoln Electric Company, Colfax Corporation, Illinois Tool Works, Daihen Corporation, Hypertherm Inc., GCE Holding AB, Amada Miyachi America Inc., Koike Aronson Inc., Genetec (Shanghai) Corporation, among others.

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Category: Market Research Publishers and RetailersCompany about: Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance. To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intel ...