Cutting equipment is generally used in cutting metals as well as thermoplastics. Cutting can be carried out using multi point or single point tools. There are various types of cutting technologies employed, for instance, oxy fuel cutting technology, laser cutting technology and plasma cutting technology.
Transparency Market Research, in its new research study on global manual cutting equipment market, has covered various regional and segmental insights associated with the market. Moreover, the scope of research also covers trends, developments, drivers, challenges and restraints that have an influence on the growth of the global market. The research also covers analysis of historical data along with current market position and gives a brief scrutiny on future market scenario for manual cutting equipment. The global market for manual cutting machines is expected to grow at a slow rate throughout the period of assessment. The factors that are hindering the growth of the global manual cutting equipment market include slow adoption of advanced cutting technologies, high operating costs and lack of skilled personnel and labor to operate cutting machines coupled with high training costs.
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According to Transparency Market Research, the global market for manual cutting equipment is estimated to reach a market valuation of about US$ 2200 Mn by the end of the year of assessment, from a value of around US$ 1700 Mn 2017 and expected to grow at a listless CAGR throughout the period of forecast, 2017-2026.
Automotive and Transportation Sector to Reflect Increased Use of Manual Cutting Equipment in the Years to Follow
The use of manual cutting equipment in automotive sector is expected to increase in the future. In automotive industry, manufacturers are adopting various cutting technologies to get high quality edges and cuts and other related assemblies. The scope for manual cutting equipment in this industry is growing as more number of manufacturers are adopting manual cutting equipment, consequently making this sector a highly lucrative one from a growth perspective. The automotive and transportation application segment is estimated to touch a large market valuation and exhibit huge market share in the coming years, thus leading the global market. Moreover, this segment is projected to grow at a significant CAGR throughout the period of assessment. In addition, another application segment that is contributing to the growth of the overall market for manual cutting equipment is the heavy equipment fabrication segment, which is expected to be the second largest. In heavy equipment fabrication, cutting equipment is typically used in mining, farming, rails and cargo transport. The use of manual cutting equipment in the construction has also been rising. However, with respect to growth rate, the shipbuilding and off shore segment is projected to rise at a relatively high value CAGR of 3.9% during the forecast period.
North America and Asia Pacific Excluding Japan to Spearhead the Growth of the Global Market
In the region category, North America is expected to be the largest region with a high market value and share and is anticipated to lead the global market. However, Asia Pacific excluding Japan (APEJ) region has also shown increasing adoption of manual cutting equipment in various applications across various industries and is projected to be the fastest growing region in this market. The manual cutting equipment market in APEJ is projected to register a value CAGR of 3.5% throughout the period of assessment.
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The analytical research report on global manual cutting equipment market includes analysis on key players operating in the global market. Facets such as key financials, product synopsis, developments, innovations, and strategies of players like Colfax Corporation, Gentec, Messer group, Matheson tri-gas Inc., Lincoln Electric Company, Illinois Tool Works Inc., Air Liquide, Linde group, GCE holding AB and Fronius international GMBH have been covered in the competitive analysis section in the research report.
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