In manual cutting process, all parameters and equipment such as portable cutting equipment, gouging equipment etc., are controlled manually. The global manual cutting equipment market has been analyzed by Transparency Market Research (TMR) to offer a complete intelligence package to the reader of the report. The research study includes analysis on various applications of manual cutting equipment across various sectors, along with regional market analysis and forecasts for a period of nine years. It also covers various technologies that are used in this market and their respective value shares across the globe during the assessment period. The research report includes profiles of key players competing in the global market for manual cutting equipment. Key companies that have been profiled in the report include Fronius international GMBH, GCE holding AB, Linde group, Air Liquide, Illinois Tool Works Inc., Lincoln Electric Company, Matheson Tri-Gas Inc., Messer group, Gentec and Colfax Corporation.
As per this analytical research report, the global manual cutting equipment market is projected to expand at a value CAGR of 3.0% during the period of forecast to reach a significant market estimation of more than US$ 2 Bn by the end of the year of assessment. There are several factors that have contributed to the growth of the global market. To name a few, aspects such as growth in construction sector, growing automotive industry, increasing demand for manual cutting equipment from oil and gas and renewable energy sectors and high demand for repair and maintenance activities from various end use industries have pushed the use of cutting equipment.
Segmental Highlights on Global Manual Cutting Equipment Market
The global market for manual cutting equipment is segmented on the basis of application, technology type and region.
By region, North America is expected to lead the global market with a high market valuation, closely followed by Asia Pacific excluding Japan (APEJ). Both, North America ad APEJ manual cutting equipment markets are estimated to reach a market value of over US$ 600 Mn by the end of the year of assessment, however, North America being a shade better than APEJ. But APEJ market is expected to grow at the fastest rate during the period of forecast. Europe is the third largest region in the global manual cutting equipment market.
In the application category, others segment is estimated to be the largest with a high market valuation. However, automotive and transportation segment is expected to significantly contribute to the growth of the global market. This segment is projected to grow at a value CAGR of 3.8% throughout the period of forecast. On the contrary, the shipbuilding and off shore application segment is expected to grow at the highest rate to register a significant value CAGR during the forecast period.
In the technology category, laser cutting segment is poised to showcase high adoption of manual cutting equipment. Laser cutting is a high speed cutting procedure which delivers high quality cutting. The laser cutting process is stable, provides smooth surface and is highly accurate. In this process, the laser beam is focused on the material that either vaporizes, melts or burns. Laser cutting technology is usually applied in industrial manufacturing. The laser cutting segment is expected to lead the global market in the coming years. Also, waterjet cutting technology is expected to grow at a comparatively high rate during the period of assessment.