NEW JERSEY, UNITED STATES, December 13, 2021 /EINPresswire.com/ — Description
New Research Study “”Cutting Equipment Market 2021 analysis by Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges and Investment Opportunities), Size, Share and Outlook”” has been added to Coherent Market insight
The global cutting equipment market was valued at US$ 3162.6 million in 2018, and is expected to reach US$ 6793.8 million by 2027, exhibiting a CAGR of 8.91% over the forecast period 2019-2027
The growing construction industry across the globe, increasing consumer spending, full capacity utilization by manufacturers, and increasing automobile sales have played a huge role in providing the necessary momentum to the of global cutting equipment market. Rising need for automation in end-use industries, and demand for superior-quality products are also the key drivers for growth of the global cutting equipment market.
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This report includes information on the industry’s market growth as well as key segmentation variables that help the global Cutting Equipment Market prosper in today’s environment. The report also emphasises the importance of regional classification in the global Cutting Equipment Market. Due to growing demand, the worldwide Cutting Equipment Market will eventually create more revenue and have a higher market size than the previous projected period.
Major Key players in this Market:
· Robert Bosch GmbH
· Stanley Black & Decker Inc.
· Makita Power Tools India Pvt. Ltd.
· ICS Cutting Tools Inc.
· Hitachi Koki Co. Ltd.
· J.C. Bamford Excavators Limited
· Klein Tools Inc.
· Snap on
· Otto Baier GmbH
· Hilti Corporation.
Drivers & Trends
The market forecasts in the Cutting Equipment industry are based on established research and assumptions based on current drivers and trends. As a result, the research report serves as a repository of analysis and data for every aspect of the market, including applications, SWOT analysis, future potential, new developments, and more. To acquire a firm grasp on the total market, several possible growth factors and hazards are assessed.
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The Cutting Equipment market is divided into five areas, each with its own development possibilities and current trends: Latin America, North America, Asia Pacific (APAC), Europe, and the Middle East and Africa. The report was created through extensive research and analysis, as well as examination of numerous elements that may influence regional growth, such as each region’s economic, political, environmental, technical, and social condition. It also includes a complete analysis of each region’s recognised manufacturers, production, and revenue, as well as the top influencing elements, critical data, and data segmented both regionally and globally.
Method of Research
The purpose of this section’s research is to examine the Cutting Equipment market over the course of the review period using several validated metrics based on Porter’s Five Force Model. As a result, a thorough examination of the market aids in identifying and emphasising the market’s primary strengths and weaknesses as it progresses. Furthermore, the study was created using a combination of primary and secondary research, including interviews, surveys, and observations from seasoned analysts, as well as reliable paid sources, trade magazines, and industry body databases. Beyond important points in the industry’s value chain, the study includes a complete qualitative and quantitative assessment based on data gathered from industry analysts and market players.
Key Trends and Analysis of the Global Cutting Equipment Market:
· In the automotive sector, key manufacturers are focusing on adopting several cutting technologies to achieve high quality edges and cuts. As the global automotive industry is witnessing a positive trend, the scope for cutting equipment in this industry is also growing. Cutting equipment are used for several operations in the automotive industry, such as fabricating automotive car parts, frames, etc. Furthermore, laser cutting is used at various stages of automotive manufacturing. Therefore, the ever changing landscape of the automotive industry is driving cutting equipment manufacturers to develop special cutting tools. For instance, in January 2019, Hoffmann Group, a Germany-based machine tools provider, launched three new innovative cutting tools at the 19th Indian Metal-cutting Machine Tool Exhibition (Imtex). The three tools launched at Imtex were cutters for titanium processing and carbide barrel milling cutters.
· Among equipment type, mechanized cutting equipment segment accounted for the highest market share in the global cutting equipment market in 2018. Increasing demand for automation and rapid industrialization in emerging economies such as China and India are expected to drive growth of the mechanized cutting equipment segment.
· Among technology type, the plasma cutting segment is expected to witness significant growth over the forecast period, owing to increasing demand for plasma cutting equipment in automation to deliver superior quality, consistency in product line, and less production time.
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