The rise in disposable income increases the demand for power cutters in the residential segment.
According to the latest Arizton's market research report, the power cutter market size to cross USD 7 billion by 2025, growing at a CAGR of 5% during the forecast period.
Global Power Cutter Market Growth
The increasing labor costs in developing countries are projected to fuel the demand for power cutter tools in the market. The use of power cutters ensures high productivity across various industries. The rise in disposable income increases the demand for power cutters in the residential segment. The global power cutter market is expected to witness steady growth during the forecast period. The growth in Li-ion battery with the rise in infrastructural developments has paved way for the growth in demand for cutting tools.
Increased Manufacturing in Developing Countries
The demand for cutting equipment is predicted to see a steady development in the global power cutter market by next five years. The rising pressure on the global manufacturing industry is to raise the level of production and retain quality levels which drives the needs efficient cutting tools. The global demand for metal cutting tools is forecast to increase because of the growth that is driven by the recovery in key manufacturing industries in developed countries. Moreover, many companies are opening their manufacturing bases in India and it is expected that the demand for cutting is expected to rise, which in turn, will boost the demand in the global power cutter market during the forecast period.
- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by end-users, fuel type, ring cutter, and geography
- Competitive Landscape –7 Key Company Profiles and 22 Other Prominent Vendors
Global Power Cutter Market – Geographic Analysis
North America was the largest power cutter market across the globe and is predicted to continue to dominate during the forecast period. The income comes mainly from the US as it is the biggest economy in the region. North America is home for many major industries which includes automobile, manufacturing, aerospace, communications, and packaging sectors. Economic development in the region also resulted in rapid urbanization in countries where people opt for more individual and smart homes to improve their lifestyle. Furthermore, the growth of the industrial sector has led to rising demand for power cutters. The involvement of significant global players in the market and the rising influence of demand across different end-user segments in the world is creating opportunities for growth of local and domestic vendors in the global power cutter market.
The global power cutter market is characterized by low market concentration and high competition among players. The present scenario is driving vendors to alter and refine their unique value proposition to achieve strong market presence. The global power cutter market confronts the threat of infiltration with low-quality products from Chinese vendors. The competition will be based on solely in terms of features such as durability, technology, services, prices, and customization. Vendors must develop new technologies and need to remain in-touch with the upcoming innovations to gain competitive advantage over other players. Many international players are expected to expand their reach worldwide during the forecast period.
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