PUNE, India, August 25, 2016 /PRNewswire/ --
The report "Cutting Equipment, Accessories & Consumables Market by Equipment (Manual, Mechanized), Accessories (Gas regulators, Gas filters,), Consumables (Shielding, Oxy-fuel Gases), Technology (Plasma, Oxy-fuel, Laser), End-Use - Global Forecast to 2021", published by MarketsandMarkets The market size is estimated to grow from USD 6.67 Billion in 2016 to USD 8.27 Billion by 2021, at a CAGR of 4.40%.
Browse 342 market data Tables and 48 Figures spread through 295 Pages and in-depth TOC on "Cutting Equipment, Accessories & Consumables Market"
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Factors such as increase in demand in Asia-Pacific and grow in demand from the end-use industries such as residential, commercial, institutional, infrastructure, industrial, and marine are some of the drivers for the growth of the cutting equipment, accessories, and consumables market.
Consumables such as shielding gases and oxy-fuel gases to gain maximum traction during the forecast period
The shielding segment dominated the market in 2015 and is projected to be the fastest-growing segment in the next five years, as a result of the rising demand for argon gas by the industries to meet the demand. Furthermore, the oxy-fuel segment is projected to be the second fastest-growing industry.
Plasma cutting as a technology to witness the highest growth in the cutting equipment, accessories, and consumables market
The report defines and segments the Cutting Equipment, Accessories, and Consumables Market on the basis of technology offered into carbon arc cutting, plasma cutting, oxy-fuel cutting, laser cutting and water jet cutting. The plasma cutting technology is projected to grow at the fastest CAGR due to the growing demand from emerging countries such as China and India, which are ranked first and second respectively, in the cutting equipment, accessories, and consumables market. The second fastest growing sector is that of laser cutting.
"Asia-Pacific region to be the largest market for cutting equipment, accessories, and consumables during the forecast period."
The Asia-Pacific region leads the market due to its large population and its growing demands for better residential, commercial, institutional, and infrastructure spaces. As cutting equipment, accessories, and consumables have a widespread application in all these end-use industries, the Asia-Pacific region, which is witnessing major growth in these sectors as well, has become a large market for the cutting equipment, accessories, and consumables market. This is followed by North America, which is the next largest market for cutting equipment, accessories, and consumables.
The ecosystem of the global Cutting Equipment, Accessories, and Consumables Market comprises of distributors/suppliers such as Colfax Corporation. (U.S.), Lincoln Electric Company. (U.S.), Illinois Tool Works Inc. (U.S), Air Liquide (France), and the Linde group (Germany). Other players in this market include GCE holding AB (Sweden), Fronius international GMBH (Austria), Messer group (Germany), Matheson tri-gas Inc. (US), Bug-O (US), Gentec (Shanghai), and Muller (Germany) which help the manufacturers in the development and growth of cutting equipment, accessories, and consumables and markets.
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