Global Pipe Cutting Machines Market is expected to grow at a CAGR of 4.5 % and is anticipated to reach around USD 460 Million by 2026.
NEW YORK, UNITED STATES, June 10, 2020 /EINPresswire.com/ — Findings from Facts and Factors report “Pipe Cutting Machines Market By Product Type (Cold Cutting and Flame/Plasma Cutting), By Cold Cutting (Slit Frame and Chain Type-Excalibur/CGM Type) and By Flame/Plasma Cutting (Saddle Type, Band Type, MXI/Maxi Jolli and Chain Dragon/Mini Jolli): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Pipe Cutting Machines Market in 2019 is approximately USD 338.0Million. The market is expected to grow at a CAGR of 4.5 % and is anticipated to reach around USD 460 Million by 2026.
Pipe cutting is an industrial process that includes cutting, aligning, beveling, and reforming pipe to create the desired profile. General pipe profiles include straight cuts, midsection holes, and saddles. Pipe cutting machines are used to create cuts required for a close-fitting between two sections that are joined via welding. Pipe cutting machine comprises of a grasping device and sharp-edged wheels which are pressurized through screw for inward cutting of pipe as the tool is rotated. The pipe cutting can be performed using cold cutting and hot cutting method. The pipe cutting machines are available in different configurations for performing cold as well as hot cutting methods.
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Major players operating in the pipe cutting machines market mentioned in the report include MatheyDearman, Inc., B&B Pipe and Industrial Tools LLC, H&M Pipe Beveling machine Company, Inc. and TAG Pipe Equipment Specialists Ltd.
The growing government spending in the construction and pipeline projects combined with the favoring policies beneficial for the steel pipe producing companies are expected to drive the growth of the global pipe cutting market over the forecast period. For instance, in 2016, the introduction of minimum import prices by the Indian government benefitted the domestic steel pipe producers which led to an increase of the production of steel pipes in the country. These industry favoring initiatives are expected to increase the demand for pipe cutting machines.
The growth of the pipe cutting machines market is further propelled by the expanding oil & gas industry which have augmented the demand for steel pipes. With major industry players investing in the industry to cater the burgeoning demand the oil and gas sector is further expected to expand. Such factors are expected to further boost the global pipe cutting machines market growth over the forecast period.
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The flame/plasma cutting machines are expected to continue the trend of dominance while occupying an estimated 73.54 % of global pipe cutting machine market share by 2026. The larger market share is owing to advantages of plasma cutting such as faster cutting, precision cutting and low consumable cost.
The chain type-excalibur / CGM type machines are expected to dominate the cold cutting market with an expected market share of above 75 % by 2026.The chain driven pipe cutting market is expected to grow at a CAGR of 3.7 % during the forecast period. The saddle type plasma cutting machines are projected to dominate the plasma cutting market with expected market share to surpass 68 % of the total plasma cutting machine market while exhibit highest CAGR of 4.9 % among the plasma cutting product types.
Asia Pacific and Europe region are projected to remain key market for the global pipe cutting machines market. The Asia Pacific market is expected to continue to remain largest market. Asia Pacific region is also expected to be the fastest growing market while registering a CAGR of 5.1 % during the forecast period till 2026.
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This report segments the pipe cutting machines market as follows:
Global Pipe Cutting Machines Market: By Product Segmentation Analysis
Global Pipe Cutting Machines Market: By Cold CuttingSegmentation Analysis
Chain Type-Excalibur/CGM type
Global Pipe Cutting Machines Market: By Flame/Plasma Cutting Segmentation Analysis
Chain Dragon/Mini Jolli
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Source: EIN Presswire