The cutting equipment, accessories & consumables market size has made substantial gains in recent years, growing from $9.19 billion in 2024 to an estimated $9.71 billion in 2025 at a compound annual growth rate (CAGR) of 5.7%. This growth during the historic period can be attributed to expansion in manufacturing and fabrication industries, increased activities in the automotive and aerospace sectors, infrastructure development, and a focus on automation and efficiency in metalworking processes.
The market size is projected to see robust growth in the coming years, forecasted to reach $12.38 billion in 2029 at a compound annual growth rate (CAGR) of 6.3%. The growth drivers for this period include advances in renewable energy and green technologies, expansion into emerging economies and developing regions, rising demand for customized cutting solutions, and increased adoption of advanced cutting technologies.
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What are the Core Drivers for the Cutting Equipment, Accessories & Consumables Market Growth?
One of the main drivers for market growth is the expansion of the steel and manufacturing industries globally. Cutting equipment, accessories, and consumables play a pivotal role in these industries, enabling them to cut complex shapes accurately and efficiently, which increases demand for these products. For instance, The Green Alliance, a UK-based charity, anticipates the UK steel market to expand by up to 26% by 2030.
What are the Main Segments in the Cutting Equipment, Accessories & Consumables Market?
The market report covers various segments:
1) By Type: Manual Cutting Equipment, Mechanized Cutting Equipment, Other Types
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-Users
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Which Major Players are Operating in the Cutting Equipment, Accessories & Consumables Market?
Major players in the 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., and Bug-O Systems Inc., among others.
What Trends are Emerging in the Cutting Equipment, Accessories & Consumables Market?
The integration of innovative technologies, such as plasma and laser cutting, is a key trend in the market. These technologies provide precise cutting for a variety of materials, including steel, iron, copper, and brass. In October 2022, Rollomatic launched a new laser model for larger-diameter PCD tools and other ultra-hard materials.
Which Region is Experiencing the Fastest Growth in the Cutting Equipment, Accessories & Consumables Market?
In 2024, Asia-Pacific dominated the market. However, North America is projected to be the fastest-growing region in the upcoming forecast period.
What Does The Cutting Equipment, Accessories & Consumables Market Report 2025 Offer?
Cutting equipment, accessories, and consumables comprise of tools used for shearing materials to precise measurements. They offer fast, efficient, and cost-effective cutting solutions for various industries. The Cutting Equipment, Accessories & Consumables Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
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