The global cutting equipment, accessories & consumables market is anticipated to grow at a CAGR of 6.2% during the forecast period. The increasing demand for various edge-cutting technologies from the manufacturing sector is the major factor driving the growth of the market. Among all machine cutting technologies, plasma cutting has gained immense popularity among end-user verticals. Plasma cutting is considered the best option for fabricating medium-thickness steel and aluminum in the manufacturing industry. Plasma cutting tools deliver products with higher accuracy, precision, and speed and have minimal machine footprint when compared with mechanical cutting machines, which in turn drives their adoption for Industrial cutting processes. The rise in demand for high-quality equipment in the diverse industry has surged the demand for plasma cutting machines for cutting metals.
Browse the full report description of “Cutting Equipment, Accessories & Consumables Market Size, Share, and Trends Analysis Report, By Equipment (Manual and Mechanized), By Type (Cutting Technology (Plasma Cutting, Oxy fuel Cutting, Laser Cutting, Waterjet Cutting, Carbon Arc Cutting)), accessories and consumables), By End-User Industry (Construction, Heavy Metal Fabrication, Shipbuilding & Offshore, Automotive, and Others), Forecast Period (2022-2028)” at https://www.omrglobal.com/industry-reports/Cutting-equipment-accessories-and-consumables-market
Apart from these, speedy industrialization and technical advancement in the aerospace and defense sector are expected to bring new growth opportunities for plasma cutting machines during the forecast period. Whereas industrial automation is further projected to provide an impetus to market growth. The government of various countries is investing huge amount to accelerate industrial automation along with investment in advanced cutting equipment and technologies. For instance, in February 2022, the Canadian government invested $240 million in the semiconductor and photonics industries. The investment by the government fueled equipment upgrades and plasma cutting technology to improve the center’s capacity and capability to address the ever-increasing complexity of leading-edge technology.
Market Coverage
• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Type
o By Process
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
Competitive Landscape- Colfax Corp, Illinois Tool Works Inc., Lincoln Electric Co., Air Liquide S.A., GCE holding AB, Koike Aronson, Inc., Fronius International GMBH, The Linde Group, among others.
• Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Cutting Equipment, Accessories & Consumables Market Report by Segment
• Global Cutting Equipment, Accessories & Consumables Market by Type
o Carbon
o Alloy
o Stainless
• Global Cutting Equipment, Accessories & Consumables Market by Process
o Quenching & Tempering
o Normalizing
o Case Hardening
o Annealing
• Global Cutting Equipment, Accessories & Consumables Market by Application
o Construction
o Energy
o Metalworking
o Industrial Machinery & Equipment
o Automotive & Transportation
o Others
Global Cutting Equipment, Accessories & Consumables Market Report by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
To learn more about this report request a free sample copy @ https://www.omrglobal.com/request-sample/Cutting-equipment-accessories-and-consumables-market