Cutting equipment is a category of tools used for various metal cutting processes. These include gas flame cutting, electric cutters, gas torch, electrical, angle grinder, and the diamond blade. The cutting blades are used to cut through metals of all kinds such as iron, aluminum, steel, bronze, titanium, copper, zinc, and nickel. The gas torch is one of the most important pieces of cutting equipment used in the welding process. In this process, an arc is created between an electrode and the workpiece. The workpiece and the electrode are placed in a chamber with a slight difference in pressure that causes the electrode to become an arc. A cutting tool is used to create the arc, which is a direct contact between the workpiece and the electrode. A welding helmet is worn by the welder during the welding process to protect the eyes from sparks that may fly out due to the arc's intensity.
End-use industries such as aerospace, automotive, and others across the have created the main demand for cutting equipment in the global cutting equipment market. Hence the expansion of these sectors is also expanding the demand across the global market. For instance, according to the Society of Indian Automobile Manufacturers (SIAM), as of May 2020, 13 out of 29 states of the region had automotive manufacturing plants. The technologies related to Oxy-fuel cutting are extensively used because of features such as precision cuts, relatively low cost, and high speed.
All this is fueling the demand in the global cutting equipment market. Moreover, owing to such increasing demand, advanced cutting technologies are also evolving and key companies are investing more in R&D activities to earn advantages in terms of product capabilities, product pricing, and manufacturing efficiency. These factors are in turn augmenting the demand in the global cutting equipment market. However, the cost of the equipment is the main factor that has proximity to hinder the growth of the global cutting equipment market.
Owing to the presence of large numbers of manufacturing plants, where usage of cutting machines is substantial, Asia Pacific is witnessing a constant growth in the global cutting equipment market. For instance, according to the China Association of Automobile Manufacturers (CAAM), in 2018, the total automotive production of the country reached around 27.8 million units, which was way far ahead of the other major markets such as the United States with 11.3 million units and Japan with 9.7 million units. Moreover, economies in the Asia Pacific region have low operating costs that attract various businesses from bigger manufacturing bases, which is also aiding the growth of the global cutting equipment market. North America is known for its rapid technological advancements in all sectors including equipment, devices, and services, which is benefiting the growth of the global cutting equipment market.
In-depth Report on Global Cutting Equipment Market by Coherent Market Insights:
https://www.coherentmarketinsights.com/market-insight/cutting-equipment-market-1037
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