Global Cutting Equipment Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

"Global Cutting Equipment Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz, which offers in-depth insights, revenue details, and other vital information regarding the global cutting equipment market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global cutting equipment market report has been segmented on the basis of equipment type, technology type, end-use, and region.

Introduction  

Cutting tool or equipment is a pointed tool mounted in a machine tool and used for cutting materials. Cutting equipment may be accomplished by single-point or multipoint tools.

Market Dynamics

Increasing demand for automation in production or manufacturing industry is a key factor expected to drive growth of the global cutting equipment market over the forecast period. In addition, increasing adoption of cutting equipment’s across various applications industries such as electronics, defense, marine, construction, and aerospace is another factor expected to further fuel growth of the target market over the forecast period. Furthermore, rising demand for facilities such as repair and maintenance coupled with continuous power and energy supply is another factor expected to boost growth of the global market over the forecast period. Moreover, growing demand from oil & gas and renewable energy industry is another factor expected to propel growth of the target market in the near future.

However, slower adoption rate of advanced cutting technologies and higher operating cost of cutting equipment are major factors expected to restrain growth of the global cutting equipment market over the forecast period.

Ongoing trend observed in the target market is increasing demand for mechanized cutting equipment in fabrication industry, this trend is currently supporting and expected to continue growth of global cutting equipment market in the near future.

Technological advancements and new product launches in cutting equipment are expected to create potential revenue opportunities for players operating in the global cutting equipment market over the forecast period.

Analysis by Equipment Type

On the basis of equipment type, the mechanized cutting equipment type segment is expected to register highest share in terms of revenue over the forecast period, owing to increasing demand for mechanized cutting equipment by manufacturing industry. The steel industry plays an important role as it is important for construction, production, and manufacturing industry.

Analysis by Region

The market in North America followed by Europe is expected to register significant share in terms of revenue over the forecast period, owing to lack of skilled labors and increasing demand for cutting automation technology for fabrication and manufacturing purposes across various developed countries in these regions. In addition, the market in Asia Pacific is expected to account for highest CAGR over the forecast period, owing to rapidly growing end-use industries such as automotive, construction, shipbuilding & offshore, and manufacturing across various countries in this region.

Global cutting equipment market segmentation:

Segmentation by equipment type:

• Manual
• Mechanized

Segmentation by technology type:

• Carbon arc cutting
• Laser Cutting
• Oxy-fuel cutting
• Plasma cutting
• Waterjet cutting

Segmentation by end-use:

• Automotive
• Construction
• General metal fabrication
• Heavy Equipment Fabrication
• Shipbuilding & Offshore
• Others

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa