Cutting Equipment, Accessories & Consumables Market, By Technology (Laser, Plasma, Waterjet, Flame, and Others), By Cutting Equipment (Manual Cutting Equipment and Mechanized Cutting Equipment), By Accessories (Gas regulators, Gas flow meters, Gas filters, Check valves, Gas manifolds, and Others), By Consumables (Shielding Gases and Oxy-fuel gases), By Application (Shipbuilding & Offshore, General metal fabrication, Automotive, Heavy Equipment Fabrication, Construction, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, And Middle East & Africa); Trend Analysis, Competitive Market Share & Forecast, 2020-2026

Published:
March 2020
Report Code:
BWC19416
Available Format:
PDF PDF Icon
Pages:
185

cutting equipment, accessories & consumables market bwc19416

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Global Cutting Equipment, Accessories & Consumables Market Forecast and Trends

The global Cutting Equipment, Accessories & Consumable’s market has reached USD 7.58 Billion in 2019 and is expected to reach USD 10.42 Billion by the year 2026, with a growing CAGR of 4.74% during the forecast period 2020- 2026. Market growth is primarily driven by the increasing demand from various end-user industries around the world, such as automotive, aerospace, and others.

The cutting technology for oxy-fuel is commonly used due to the quickness, comparatively low cost, and accurate cuts. As demand increases, advanced cutting technologies are evolving, and companies are investing more in R&D activities to gain a competitive gain in terms of manufacturing efficiency, product pricing, and product capabilities. The main driver of cutting equipment, accessories & consumables market from the manufacturing sector is due to the essentiality of an adequate supply serving the unparalleled demand across the global economies.

Besides, the market is also driven by growing demand for manufactured metal products, heavy industrial equipment development, advancement in manufacturing processes, and the adoption of the latest technologies. Furthermore, in some regions, demand for automated equipment is also growing due to a shortage of qualified staff. Major companies in numerous developed countries have started to use robotics (industrial cutting robots) to minimize workforce dependence for their production processes.

Global Cutting Equipment, Accessories & Consumables Market: Overview

Cutting Equipment, Accessories & Consumables, also recognized as the cutter, in technical terms is equipment employed to eliminate material from the workpiece through shear deformation. Industrialization and manufacturing are vital obligations for the sustainable development of any economy, and cutting equipment, accessories & consumables play a crucial role in it. Cutting equipment is at the heart of any manufacturing industry, and the related accessories and consumables are often needed for consistent production. Handheld and mechanized plasma cutters, high-definition plasma cutters, CNC plasma cutting tables, retrofit systems, pipe and tube cutting machines, structural steel manufacturing, shape cutting controls, and plasma torch consumables are some of the common cutting equipment. Replacing traditional production techniques with 3D printing significantly reduces capital costs, raw material costs, and scrap recovery costs, which is expected to have a positive impact on the global market for metal-cutting equipment, accessories & consumables in the coming years.

Growth drivers

Industrial Development and improved Cutting Equipment, Accessories & Consumables

Industrial cutting equipment, accessories & consumables have played an essential role in the overall production of the goods. The usefulness of cutting techniques was deployed through various industrial verticals, from metal foundries to automotive manufacturing. In the global industrial landscape, plasma cutting methods have acquired lucrative grounds. The advantage of using plasma cutting equipment, accessories & consumables to deliver high-quality cuts at a shorter preparation time has driven their demand as an indispensable industrial device.

CRPF (Carbon-fiber reinforced polymer) has a significant impact on the market of Cutting Equipment, Accessories & Consumables, sidelining expensive PCD (polycrystalline diamond) equipment. Its strength, robustness, and resistance to corrosion make it ideal for use in the automotive and aerospace industries. PVD coatings on various cutting equipment, accessories & consumables extend the lifespan of equipment that provides the industrialist with an economic perspective.

Time-efficiency and Flexibility

Increased demand to capitalize on the growing global requirements is pushing industrialists to use advance cutting equipment, accessories & consumables to save time to support production operations and have higher outputs. Cutting equipment, accessories & consumables offers various advantages, such as increased productivity, time-efficiency, and flexibility. Laser systems are thus widely on demand for processing of materials, particularly in multiple applications such as aerospace, building, industrial machinery, automotive, and others. This is a crucial factor in the development of the cutting equipment, accessories & consumables market.

Restraint

The high cost of Cutting Equipment, Accessories & Consumables

Due to the high cost of cutting equipment, accessories & consumables, as well as the difficulty of setting up cutting machines is the major restraint in the global cutting equipment, accessories & consumables market. Slow adoption of enhanced cutting equipment, accessories & consumables technologies in developing economies, environmental concern, slow growth of aerospace & defense and shipbuilding industries, and customer price sensitivity restrict the market growth.

Global Cutting Equipment, Accessories & Consumables Market: By Technology

Based on the Technology, the Cutting Equipment, Accessories & Consumables market segmented into Laser, Plasma, Waterjet, Flame, and Others. Plasma is a widely used technology and is expected to dominate the market during the forecast period of 2026 due to the benefit of using plasma to produce high-quality cuts at a shorter preparation time has propelled their demand as an indispensable industrial tool. Heavy equipment fabrication uses of plasma cutting is the main reason for its growth.

Global Cutting Equipment, Accessories & Consumables Market: By Cutting Equipment

Based on the Cutting Equipment, the cutting equipment, accessories & consumables market is segmented into Manual and Mechanized. Mechanized is expected to grow in the forecast period as it makes the work process easier as compared to the manual process, and is also time-efficient. Owing to increased demand by the manufacturing industry for mechanized cutting equipment.

Global Cutting Equipment, Accessories & Consumables Market: By Application

Based on the Application, the cutting equipment, accessories & consumables market is segmented into Shipbuilding & Offshore, General metal fabrication, Automotive, Heavy Equipment Fabrication, Construction, and Others. Cutting equipment, accessories & consumables has a major share in the automotive industry and is used in the manufacture of automotive parts, frames, etc. for several operations. Laser cutting is used at different automotive manufacturing levels. The ever-changing automotive industry landscape puts pressure on equipment manufacturers to meet the demands and requires unique cutting tools.


Global Cutting Equipment, Accessories & Consumables Market: Regional insights

By geography, the Global Cutting Equipment, Accessories & Consumables Market is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America, followed by Europe, is estimated to report significant revenue share over the forecast period, due to the lack of skilled labor and increased demand for Cutting Equipment, Accessories & Consumables in manufacturing and industrial automation across the various developed countries in these regions.

Additionally, due to the rapidly growing end-use industries such as automotive, construction, shipbuilding & offshore, and manufacturing, the Asia Pacific market is expected to account for the highest CAGR over the forecast period.


Cutting Equipment, Accessories & Consumables Market: Competitive Landscape

Notable players operating in the Cutting Equipment, Accessories & Consumables market are Jet Edge Inc., Ador Welding Ltd., Kennametal Inc., Koike Aronson Inc., Colfax Corporation, Koike Aronson, Hornet Cutting Systems, Dardi International Corporation, A Innovative International Ltd, Epilog Laser Inc., Amada Miyachi Company, Ltd., Flow International Corporation, WB Alloy Welding Products Ltd., Illinois Tool Works, OMAX Corporation, Hypertherm Inc., Amada Miyachi America Inc., DAIHEN Corporation, Wardjet Inc. and Other Prominent Players.

Recent Developments:

In January 2020, Jet Edge International Announces Acquisition Of Aircraft Management Company JetSelect Aviation.

In November 2020, Meritage Inc., North America's largest machine tool distribution company, announces a strategic partnership with Kennametal Inc. (Latrobe, Pa.), the leading global tooling solutions supplier.

The objective of the Study:

To analyze and forecast the global Cutting Equipment, Accessories & Consumables market size of the market, in terms of value.

To examine the careful market segmentation and forecast the market size, in terms value, based on the region by segmenting the Global Cutting Equipment, Accessories & Consumables market into five regions, namely, North America, Europe, Asia Pacific, Middle East & Africa, Latin America, and their leading countries.

To outline, categorized, and forecast the global Cutting Equipment, Accessories & Consumables market based on the Technology, Cutting Equipment, Accessories, Consumables, Application, and Region.

To examine competitive developments like technological advancement, services, and regulative framework within the global Cutting Equipment, Accessories & Consumables Market.

To highlight the impact analysis of the factors affecting the market dynamics such as drivers, restraints, opportunities, and challenges.

To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.

Scope of the Report

Attribute

Details

Years Considered

Historical data – 2016-2019

Base Year – 2019

Forecast – 2020 – 2026

Facts Covered

Revenue in USD Million/Billion

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Argentina, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia

Product/Service Segmentation

By Technology, Cutting Equipment, Accessories, Consumables, and Application

Key Players

Jet Edge Inc., Ador Welding Ltd., Kennametal Inc., Koike Aronson Inc., Colfax Corporation, Koike Aronson, Hornet Cutting Systems, Dardi International Corporation, A Innovative International Ltd, Epilog Laser Inc., Amada Miyachi Company, Ltd., Flow International Corporation, WB Alloy Welding Products Ltd., Illinois Tool Works, OMAX Corporation, Hypertherm Inc., Amada Miyachi America Inc., DAIHEN Corporation, Wardjet Inc. and Other Prominent Players.

By Technology

·         Laser

·         Plasma

·         Waterjet

·         Flame

·         Others

By Cutting Equipment

·         Manual Cutting Equipment

o    Oxy-fuel cutting equipment

o    Plasma cutting equipment

o    Gouging equipment

o    Others

·         Mechanized Cutting Equipment

o    Oxy-fuel equipment

o    Plasma cutting equipment

o    Cutting tables

o    Others

By Accessories

·         Gas regulators

·         Gas flowmeters

·         Gas filters

·         Check valves

·         Gas manifolds

·         Others

By Consumables

·         Shielding Gases

·         Oxy-fuel gases

By Application

·         Shipbuilding & Offshore

·         General metal fabrication

·         Automotive

·         Heavy Equipment Fabrication

·         Construction

·         Others

By Region

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East & Africa

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