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Manual cutting equipment Market Trends

Report ID: GMI8525
Published Date: Mar 2024
Report Format: PDF

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Manual cutting equipment Market Trends

Recycled and sustainable materials are being used by manufacturers in their production processes more often. This trend reflects people's increasing knowledge of environmental issues and their desire to lessen the environmental impact of manufacturing. Manufacturers may reduce their carbon footprint and produce items that appeal to consumers who care about the environment by employing recycled and eco-friendly materials. This trend is probably going to continue as businesses work to satisfy customer demand for more environmentally friendly products and as more laws pertaining to environmental sustainability are implemented. The trend of shopping via e-commerce platforms continues to grow rapidly.

More consumers are opting to buy products online due to convenience, variety, competitive pricing, and flexible options. This trend has been accelerated by the COVID-19 pandemic, with safety concerns driving even more people to shop online. E-commerce is expected to remain a dominant force in retail as technology evolves and consumer preferences shift towards digital shopping experiences. Also DIY (Do-It-Yourself) culture is gaining momentum as people seek creative outlets, cost-saving solutions, and the satisfaction of making things themselves. From home improvement projects to arts and crafts, DIY activities are flourishing across various demographics. This trend is fueled by online tutorials, social media platforms, and a desire for personalization and self-expression.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of manual cutting equipment was reached around USD 16 billion in 2023 and is anticipated to grow at a 5.1% CAGR from 2024 to 2032, driven by the development of infrastructure sector and the rapid industrial expansion.

Automotive & transportation application segment held the dominant market share of around 31% in 2023 and is anticipated to grow through 2032, backed by the tools' ability to provide precise cuts for manufacturing customized automotive parts.

North America held around 19% share of the global manual cutting equipment market in 2023 and will record significant revenues by 2032, attributed to the robust and continuously growing construction sector in the region.

Ador Welding Ltd., Air Liquide, CERATIZIT S.A., Colfax Corporation, DAIHEN Corporation, Enovis, Fronius International GmbH, GCE Holding AB, GENSTAR TECHNOLOGIES, Hypertherm, Inc., ICS Cutting Tools, Inc., and Illinois Tool Works Inc.