Persistence Market Research delivers key insights on the global cutting equipment and consumable/accessory market in its latest report titled ‘Cutting Equipment Market: Global Industry Analysis (2012-2016) and Forecast (2017 – 2025)’. In this report, Persistence Market Research throws light on drivers and restraints likely to impact the market during the forecast period.
In the latest report by PMR on global cutting equipment market, the forecast has been revised until 2025. In 2017 was estimated to be US$ 3.6 Bn and is estimated to reach a value of over US$ 5 Bn by 2025 end. Owing to macro-economic growth factors (GDP, inflation, employment, spending) growth in the target market the market size has been revised for the entire forecast period.
A major factor driving the growth of the global cutting equipment market, in the present scenario, is strong growth of the automotive sector. Furthermore, growing constructional industry supported by global megatrend of urbanization is expected to boost the growth of the global market. Moreover, promising demand from oil & gas industry, along with growing demand for cutting products from renewable energy industry are some of the factors which are estimated to drive the growth of global cutting equipment market during the forecast period.
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However, the global cutting equipment market is expected to face some challenges. Slow adoption of advanced cutting technologies and high operating cost to remain detaining factor may impact the bargaining power of consumers. These are the factors that may impact the demand for cutting equipment, thus in turn is restricting the revenue growth of the global cutting equipment market.
The cutting equipment market is segmented by cutting technology into plasma, oxy-fuel, laser, waterjet, and carbon-arc
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The report highlights some of the top companies operating in the global cutting equipment market such as The Lincoln Electric Company, Colfax Corporation, Illinois Tool Works, Daihen Corporation, Hypertherm Inc., GCE Holding AB, Amada Miyachi America Inc., Koike Aronson Inc., Genetec (Shanghai) Corporation, among others.