San Francisco, California, July 10, 2017: A report by TMR Research, titled “Cutting Equipment, Accessories, and Consumables Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2025,” provides an in-depth analysis of trends and opportunities in the market. For a better understanding, it divides the market on the basis of equipment, technology, consumables, accessories, and geography. It also offers insights into the vendor landscape of the global cutting equipment, accessories, and consumables market.
Most of the global demand for cutting equipment, accessories, and consumables stem from end-use sectors such as residential, commercial, infrastructure, institutional, and marine. The increasing industrialization and urbanization, especially in developing countries, is playing an important role in the development of the market. Moreover, the rapid growth in the global population is not only compelling the manufacturing industry to boost its capacity but also promoting the set-up of new production facilities. This, in turn, is providing a fillip to the global cutting equipment, accessories, and consumables market.
On the basis of technology, the global cutting equipment, accessories, and consumables market can be classified into plasma cutting, carbon arc cutting, oxy-fuel cutting, laser cutting, and waterjet cutting. The plasma cutting segment will continue to rise at a significant CAGR during the forecast period, owing to the increasing demand from developing countries such as China and India. Based on equipment, the market can be categorized into mechanized cutting equipment and manual cutting equipment.
In terms of accessories, the market is segmented into flow controllers, gas filters, gas regulators, gas manifolds, gas flow meters, check valves, gas panels, and gas cabinets. By consumables, the market is bifurcated into shielding gases and oxyfuel gases. The shielding gases segment will account for a sizeable share in the global arena. The growth of the segment is propelled by the burgeoning demand for argon gas by various industries.
Geographically, the report divides the global cutting equipment, accessories, and consumables market into Asia Pacific, Europe, Latin America, North America, and the Middle East and Africa. Asia Pacific is a highly lucrative region, owing to rapid industrialization and urbanization. The increasing infrastructural, residential, and commercial developments and presence of vast population base are also contributing to the growth of the region.
Some of the prominent companies operating in the global cutting equipment, accessories, and consumables market are Illinois Tool Works Inc., Muller, Colfax Corporation., GCE Holding AB, Lincoln Electric Company, Messer group, Air Liquide, Matheson Tri-gas Inc., Gentec, Fronius International GMBH, and the Linde group. The majority of these players are paying high attention to the development of cost-effective and reliable technologies to stay ahead in the market. Market participants are also focusing towards mergers and acquisitions in order to expand their product portfolio.