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", The cutting equipment, accessories, and consumables 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%. 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.
Browse 342 market data Tables and 48 Figures spread through 295 Pages and in-depth TOC on "Cutting Equipment, Accessories & Consumables Market - Global Forecast to 2021"
MarketsandMarkets projects that 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.
The cutting equipment, accessories, and consumables market has been segmented on the basis of by technology, equipment, accessories and consumables, end-use industry and region. On the basis of technology, plasma cutting was the most widely used technology for cutting equipment, accessories, and consumables; it is a low-cost technology and is readily available, owing to which, it accounted for the largest market share in 2015.
On the basis of key regions, the market for cutting equipment, accessories, and consumables has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Asia-Pacific is estimated to have the highest share and projected to grow at the highest rate from 2016 to 2021, as the countries in this region are expected to achieve high growth in the construction and automobile sector, thus triggering a huge demand for this market.
Mergers & acquisitions were the key strategies adopted by most players in the market. Companies 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) were the key players that adopted these strategies to increase their geographical reach, product offerings, customer base, and to stay ahead of their competitors
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