LONDON--(BUSINESS WIRE)--The global gas cutting machine market is projected to grow to USD 766 million by 2021, at a CAGR of nearly 1% over the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global gas cutting machine market for 2017-2021. Based on the product type, the market is divided into stationery gas cutting machine and portable gas cutting machine segments.
|The gas cutting process is widely used in many industrial applications such as thermal cutting process, due to its ability to cut metals that range from 0.5 mm to 255 mm in thickness. The technique is also cost-effective and provides the flexibility of both manual and mechanical operation, making it popular among end-user industries including automotive, aerospace and defense, and shipbuilding.|
Technavio’s research study segments the global gas cutting machine market into the following regions:
Gas cutting machine market in APAC
“APAC occupied over 45% of the gas cutting machine market in 2016 and is expected to grow quickly over the forecast period, driven by the vast number of emerging industries including the automotive, aerospace and defense, and shipbuilding industries,” says Gaurav Mohindru, a lead analyst at Technavio for tools and components research.
The impressive performance of light commercial vehicles in APAC is one of the key factors for the dominance of the market segment in the gas cutting market segment. The commercial aviation sector is also performing very well, and Asia is likely to witness double-digit growth in air passenger traffic during the 2015-2023 period, with carrier demand increasing significantly.
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Gas cutting machine market in EMEA
The automotive and aerospace and defense industries are the key end-user of cutting machines in EMEA. Despite the economic crisis in Europe, the gas cutting market in the region is likely to showcase significant growth due to the benefits that these cutting machines offer. The use of all cutting machines allows the automation of manufacturing processes, thus leading to higher efficiency and lower energy consumption. Therefore, these benefits allow products to be manufactured at lower costs, which enables companies to compete better at the global level. The growing air traffic will also create additional revenue streams for the gas cutting machines market.
Gas cutting machine market in the Americas
“The major end-user industries of the gas cutting machines in the Americas are the automotive, aerospace and defense, electrical equipment, and robotics industries. The stronghold of the automotive industry in the region is a key revenue generator for the market,” says Gaurav.
The use of gas cutting machines is very minimal in this region as manufacturing industries have shifted to alternative technologies to increase the quality of products and to reduce the operational cost in the manufacturing process; thus, the market in this region is expected to grow at a slower rate when compared with the other two regions.
The top vendors in the global gas cutting machine market highlighted in the report are:
- Hornet Cutting Systems
- Koike Aronson
- Messer Cutting Systems
- NISSAN TANAKA
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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