The market for cutting equipment, accessories, and consumables will grow from 6.67 USD Billion in 2016 to 8.27 USD Billion by 2021, at a CAGR of 4.40%.

This market is growing due to increasing infrastructure and construction activities, manufacturing of automobiles, public expenditure from governments and production of crude steel.

Rising per capita income of the middle class has increased the purchasing power of the consumers, which has resulted in an increase in the number of new constructions and manufacturing, which resulted in higher usage of cutting equipment, accessories, and consumables.

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Market Drivers:

· Promising Growth in the Global Steel Industry

· Growing Automobile Industry

· Industrial Development in the Middle East and Africa

· Growth of the Construction Industry

Target Audience

Raw material suppliers and producers
Regulatory bodies
Cutting equipment, accessories, and consumables distributors/suppliers
End-users. (Oil and gas industry, automobile industry, construction, F&B).
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Opportunities:

· Increasing Demand for Mechanized Cutting in Developing Economies

· Growing Demand for Cutting Equipment, Accessories, and Consumables From the Wind Energy Sector

Key Players:

The Leading Players of the Market are Colfax Corporation. (U.S.), Lincoln Electric Company (U.S.), Illinois Tool Works Inc. (U.S), Air Liquide (France), and the Linde Group (Germany).


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