Global Cutting Equipment, Accessories & Consumables Market Sees Steady Growth

The Business Research Company’s Cutting Equipment, Accessories & Consumables Global Market Report 2023 – Market Size, Trends, And Market Forecast 2023-2032

LONDON, GREATER LONDON, UK, November 23, 2023 /EINPresswire.com/ — The cutting equipment, accessories & consumables market demonstrated robust growth, expanding from $8.21 billion in 2022 to $8.63 billion in 2023, marking a commendable Compound Annual Growth Rate (CAGR) of 5.2%. Projections suggest continued expansion, with the cutting equipment, accessories & consumables market size anticipated to reach $10.44 billion by 2027, maintaining a steady CAGR of 4.9%.

Key Driver: Growth in Steel and Manufacturing Industries
The pivotal factor driving the surge in the cutting equipment, accessories, and consumables market is the growth in the global steel and manufacturing industries. These industries involve the transformation of iron ore into steel, creating different grades by eliminating impurities. Cutting equipment, accessories, and consumables play a crucial role in enabling these industries to achieve precise and efficient cutting of complex shapes, contributing to increased demand.

For detailed insights into the global cutting equipment, accessories, and consumables market, refer to our comprehensive sample report:
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Major Players Shaping the Market Landscape
Key players influencing the cutting equipment, accessories, and 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, and Bystronic.

Technological Advancements Fuel Market Trends
The adoption of advanced cutting technologies is a prominent trend in the market, with a focus on implementing innovative solutions such as plasma and laser cutting. These technologies offer versatility, enabling precision cutting of various materials like steel, iron, copper, and brass. They are particularly effective in cutting curves, odd shapes, and achieving multiple intersecting precise cuts. Notably, in April 2020, Komatsu Industries Corp. launched a plasma cutting machine, TWISTER TFP510-3, emphasizing high productivity, easy setup operation, and user-friendliness, based on ICT technology.

Regional Dynamics and Market Segmentation
Asia-Pacific emerged as the largest region in the cutting equipment, accessories, and consumables market in 2022, with North America expected to be the fastest-growing region in the forecast period. The comprehensive market segmentation covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The global cutting equipment accessories and consumables market 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

To access the complete report with in-depth analysis and strategic insights, click here:
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Cutting Equipment, Accessories & Consumables Global Market Report 2023 from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Cutting Equipment, Accessories & Consumables Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on cutting equipment, accessories & consumables market size, cutting equipment, accessories & consumables market drivers and trends, cutting equipment, accessories & consumables market major players, cutting equipment, accessories & consumables market competitors’ revenues, cutting equipment, accessories & consumables market positioning, and cutting equipment, accessories & consumables market growth across geographies. The cutting equipment, accessories & consumables market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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