The cutting equipment, accessories, and consumables market size is estimated to grow from USD 6.67 Billion in 2016 and is expected to reach USD 8.27 Billion by 2021, at a CAGR of 4.40%. The base year considered for the study is 2015 and the market size is projected from 2016 to 2021.
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Target Audience
- Raw material suppliers and producers
- Regulatory bodies
- Cutting equipment, accessories, and consumables distributors/suppliers
- End-users. (Oil and gas industry, automobile industry, construction, F&B).
By Technology:
- Carbon arc cutting
- Plasma cutting
- Oxy-fuel cutting
- Laser cutting
- Water jet cutting
Consumables such as shielding gases and oxy-fuel gases to gain maximum traction during the forecast period
The shielding segment dominated the market in 2015 and is projected to be the fastest-growing segment in the next five years, as a result of the rising demand for argon gas by the industries to meet the demand. Furthermore, the oxy-fuel segment is projected to be the second fastest-growing industry.
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Plasma cutting as a technology to witness the highest growth in the cutting equipment, accessories, and consumables market
The report defines and segments the cutting equipment, accessories, and consumables market on the basis of technology offered into carbon arc cutting, plasma cutting, oxy-fuel cutting, laser cutting and water jet cutting. The plasma cutting technology is projected to grow at the fastest CAGR due to the growing demand from emerging countries such as China and India, which are ranked first and second respectively, in the cutting equipment, accessories, and consumables market. The second fastest growing sector is that of laser cutting.
Key Market Players –
The ecosystem of the global cutting equipment, accessories, and consumables market comprises of distributors/suppliers such as Colfax Corporation. (U.S.), Lincoln Electric Company. (U.S.), Illinois Tool Works Inc. (U.S), Air Liquide (France), and the Linde group (Germany). Other players in this market include GCE holding AB (Sweden), Fronius international GMBH (Austria), Messer group (Germany), Matheson tri-gas Inc. (US), Bug-O (US), Gentec (Shanghai), and Muller (Germany) which help the manufacturers in the development and growth of cutting equipment, accessories, and consumables and markets.
