Cutting Equipment, Accessories & Consumables Market Growth Projections, Size And Industry Analysis 2024-2033

The cutting equipment, accessories & consumables global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Cutting Equipment, Accessories & Consumables Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –
The cutting equipment, accessories & consumables market size has grown strongly in recent years. It will grow from $8.74  billion in 2023 to $9.26  billion in 2024 at a compound annual growth rate (CAGR) of 6.0%.  The  growth in the historic period can be attributed to growth in manufacturing and fabrication industries, expansion of automotive and aerospace manufacturing, increased infrastructure development and construction activities, focus on automation and efficiency in metalworking processes, adoption of advanced materials in manufacturing.

The cutting equipment, accessories & consumables market size is expected to see strong growth in the next few years. It will grow to $11.67  billion in 2028 at a compound annual growth rate (CAGR) of 5.9%.  The growth in the forecast period can be attributed to growth in renewable energy and green technologies, market expansion in emerging economies and developing regions, demand for customization and specialty cutting solutions, adoption of waterjet and abrasive waterjet cutting technology, focus on environmental sustainability and recycling in cutting processes. Major trends in the forecast period include advancements in laser cutting technology integration of automation and robotics, plasma cutting for thick materials, precision micro-cutting and micromachining, enhanced software and cad/cam integration.

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Scope Of Cutting Equipment, Accessories & Consumables Market
The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Cutting Equipment, Accessories & Consumables Market Overview

Market Drivers –
Growth in the steel and manufacturing industries across the globe is contributing to the growth of the cutting equipment, accessories, and consumables market going forward. Steel and manufacturing industries refer to the business of converting iron ore into steel, to manufacture different grades of steel by removing impurities such as nitrogen, silicon, and phosphorus from the supplied iron. Cutting equipment, accessories, and consumables enable the steel and manufacturing industries to cut complex shapes with incredible accuracy while remaining fast, efficient, and cost-effective; thus, growth in the steel industry increases demand for cutting equipment, accessories, and consumables. For instance, in June 2021, according to the American Iron and Steel Institute, a US-based trade association of North American steel producers, raw steel production was 1.84 million net tonnes while the capability utilisation rate was 83%. Therefore, the growing steel and manufacturing industries are driving the cutting equipment, accessories, and consumables market growth.

The cutting equipment, accessories & consumables market covered in this report is segmented –
1) By Type: Manual Cutting Equipment, Mechanized Cutting Equipment, Other Type
2) By Technology: Carbon Arc Cutting, Plasma Cutting, Oxy-Fuel Cutting, Laser Cutting, Water Jet Cutting
3) By End-User: Construction, Heavy Metal Fabrication, Shipbuilding And Offshore, Automotive, Other End-User

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Regional Insights –
Asia-Pacific was the largest region in the cutting equipment, accessories, and consumables market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the cutting equipment, accessories & consumables market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Key Companies –
Major companies operating in the cutting equipment, accessories & consumables market include  Colfax Corporation, GCE Group AB, Gentec Corp., Hypertherm Inc., Illinois Tool Works Inc., Messer Group GmbH, Müller Opladen GmbH, African Oxygen Ltd., BOC Ltd., Bug-O Systems Inc., GasIQ AB, Koike Aronson Inc., Linde AG, DMG Mori Seiki Co., ABB Group, American Welding And Gas., ANCA Pty Ltd., Baker Hughes Company, Bystronic AG, Lincoln Electric Holdings Inc., Elektriska Svetsnings-Aktiebolaget, Fronius International GmbH, BURNY Kaliburn Lincoln Electric Co., C&G Systems, CNC Clear Cut, Daito Seiki Co. Ltd., HG Farley LaserLab Co, Flow International Corporation, HACO-FAT, Hornet Cutting Systems, Jet Edge Inc., KMT Waterjet Systems, Komatsu NTC Ltd., KUKA AG, LVD Company nv, Mazak Corporation, OMAX Corporation, Prima Power, Salvagnini America Inc., SigmaTEK Systems LLC, Tanaka Holdings Co. Ltd., Techni Waterjet

Table of Contents

1. Executive Summary
2. Cutting Equipment, Accessories & Consumables Market Characteristics
3. Cutting Equipment, Accessories & Consumables Market Trends And Strategies
4. Cutting Equipment, Accessories & Consumables Market – Macro Economic Scenario
5. Global Cutting Equipment, Accessories & Consumables Market Size and Growth

…

31. Global Cutting Equipment, Accessories & Consumables Market Competitive Benchmarking
32. Global Cutting Equipment, Accessories & Consumables Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Cutting Equipment, Accessories & Consumables Market
34. Cutting Equipment, Accessories & Consumables Market Future Outlook and Potential Analysis
35. Appendix

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