The laser cutting machines market will acquire a CAGR of 8.40 % and a market valuation of USD 5.96 billion by 2030 during the forecast period.
Laser Cutting Machines Market Synopsis
Laser cutting machines have a laser beam that melts and evaporates the target area by heat. Laser cutting uses lasers like CO2 and fibre to cut materials. It has become an important manufacturing tool in industries like the automotive industry, machine tool industry, consumer electronics, and other manufacturing industries. The increased rate of production in industries and the growing demand for the reduction of human involvement in metal processing and operations are driving the automation sector, which is showing a direct impact on the laser cutting machines market growth. The manufacturing industries are highly demanding laser cutting machines.
The higher sales rate in the industrial sector such as consumer electronics, automotive, and the military boosts the laser cutting machines market demand. The life span limitation of products is also supporting the sales rate. These factors are contributing to the global laser cutting machines market growth.
The laser cutting machines market is noticing major growth due to the demand for laser cutting machines being diversely increasing in developed countries. The production rate thriving in the automobile sector is accelerating the global Laser Cutting Machines Market growth.
Global Laser Cutting Machines Market Segmentation
For the purpose of this study, the global laser cutting machines market has been divided into three segments such as by technology, process and by end user. On the basis of technology, the market has been segmented as solid-state lasers, gas lasers and semi-conductor lasers. Among the technology, solid state lasers account the largest market share. Solid state lasers used for medical applications. Diode-pumped solid-state lasers gives a better beam quality and an ever-increasing degree of processing flexibility. On the basis of process, the market has been segmented as Fusion Cutting, Flame cutting and Sublimation cutting.
On the basis of end user, the market has been segmented as automotive, consumer electronics, defence and aerospace, industrial and others. Automotive sector dominates the end user segment of the market and is expected to grow at a highest CAGR during the forecast period. Rise in demand for automobiles, attributed to changing consumer lifestyle and increased consumer income. Moreover, owing to growing demand across the electronics industry fuels the demand of the market in end user segment. Defence and aerospace are expected to contribute significantly during the forecast period mainly due to increase in space research projects. Laser cutting is used majorly at workshops and manufacturing plants for various industries for giving more output in less amount of time.
Laser Cutting Machines Market Key Players:
The key players of global laser cutting machines market are -
The prominent players in the laser cutting machines market include Coherent Inc.(US), Jenoptik Laser GmbH(Germany), Bystronic Incorporated(US),Epilog Laser Inc.(US),IPG Photonics Corporation(US), Trumpf GMBH (Germany),Amada Miyachi Inc (US), MKS Instruments(US), LancerFab Tech Pvt. Ltd(India).,Jiangsu Dajin Laser Science and Technology Co.,Ltd.(China),Alpha Laser (US), Xenetech(US), Universal Laser Systems(US),Trotec Lasers(US), Han's Laser Smart Equipment Group Co., Ltd(China).
April 2022 - Mazak Optonics Corp. has announced the next-gen laser-cutting machine known as Optiplex 3015 Neo 15kW.
The 2D fibre laser-cutting system is for controlling the beam shape and beam diameter. It will adjust the beam diameter to cut various materials and changes the body. The company proved to improve cut speed and quality for multiple materials.
April 2022 - Monport Tech Inc. has declared the opening of Monfort laser. It is good quality and affordable laser machine with first-class customer service. Earlier, a specialist laser engraving machine engraved thousands of expensive materials.
Laser Cutting Machines Market Regional Analysis
Geographically, the global laser cutting machines market has been divided into four major regions such as North America, Europe, Asia Pacific and Rest of the World. North America region has accounted for the largest market share, in 2016, followed by and Asia Pacific Europe. Increasing demand for automobiles is driving the growth of the market in North America region. U.S. is the largest contributor in global as well as North America laser cutting machines market. Strong development in the industrial sectors in the US, is anticipated to fuel the demand for market in the region. Additionally, consumer preference for better advanced vehicles and various metal cutting machines also have the positive influence on the growth of the market. Asia-Pacific is the second-largest market for laser cutting machine.
North America is expected to grow at a highest CAGR during the forecast period. Rapidly growing automations in manufacturing industries in the region driving the demand of the market. Growing sales of consumer electronics in the region driving the growth of the market. Additionally, growing aerospace manufacturing also using laser cutting machines is also expected to provide a lucrative opportunity for market growth. In rest of the world, Asia-Pacific is expected to contribute significantly during the forecast period mainly due to changing lifestyle and high growth in automobiles sales.
The report for global laser cutting machines market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.