Laser Cutting Machine Market Size — Manufacture Size & Future Scope To 2027
The laser cutting machine market size is anticipated to develop at a 9% CAGR between 2018- 2023, as per the current Market Research Future (MRFR) analysis. Laser cutting, simply put, is a technology that uses lasers like fiber, solid-state, and carbon dioxide to cut materials. It can cut materials from plastic to steel with absolute precision. This is a vital manufacturing tool that is needed by industries for manufacturing components having complex geometry. Laser cutting machines have wide applications in defense and aerospace, consumer electronics, industrial, automotive, and others.
Various factors are propelling the global laser cutting machines market share. According to the recent MRFR report, such factors include growing automobile production, increasing use of consumer electronics, especially in developed countries, demand for new and advanced products in the defense industry, the trend of automation in the manufacturing sector, growing demand from end use industries, and rapid industrialization.
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On the contrary, the availability of substitutes like gas cutting, high cost, and the ongoing COVID-19 impact may limit the laser cutting machines market growth over the forecast period.
The MRFR report highlights an inclusive segmental analysis of the global laser cutting machines market based on technology, process, and end user.
The laser cutting machines market based on technology is segmented into semi-conductor lasers, gas lasers, and solid-state lasers. Of these, the solid-state lasers technology segment will lead the market over the forecast period for its surging use in medical applications.
By process, the global laser cutting machines market is segmented into sublimation cutting, flame cutting, and fusion cutting. Of these, the flame cutting process segment will dominate the market over the forecast period.
By end user, the global laser cutting machines market is segmented into defense and aerospace, consumer electronics, industrial, automotive, and others. Of these, the consumer electronics end user segment will have a major share in the market during the forecast period. Its burgeoning demand is adding to the growth of the segment.
Based on the region, the global laser cutting machines market report covers the recent trends and growth opportunities across the Asia Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Of these, North America will lead the market over the forecast period. Strong development in industrial sectors in the United States, preference of consumers for better-advanced vehicles & different metal cutting machines, developing automation in the manufacturing industries, increasing sales of consumer electronics, and booming aerospace manufacturing using laser cutting machines are adding to the global laser cutting machines market growth in the region.
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The laser cutter market in the APAC region is predicted to grow at a fast pace over the forecast period. High growth in automobiles sales, changing lifestyle, presence of robust economies like Japan, India, and China, growing adoption of laser systems in the manufacturing sector, and strong growth in industries which use laser cutting to make automotive components, consumer electronics , and semiconductors are adding to the global laser cutting machines market growth in the region.
The global laser cutting machines market in Europe is predicted to have sound growth over the forecast period and in the Rest of the World is predicted to have steady growth over the forecast period.
Top laser cutting machines manufacturers profiled in the global laser cutting machines market report include Han's Laser Smart Equipment Group Co., Ltd (China), Trotec Lasers (US), Universal Laser Systems (US), Xenetech (US), Alpha Laser (US), Jiangsu Dajin Laser Science and Technology Co.,Ltd.(China), LancerFab Tech Pvt. Ltd (India), MKS Instruments(US), Amada Miyachi Inc (US), Trumpf GMBH (Germany), IPG Photonics Corporation(US), Epilog Laser Inc.(US), Bystronic Incorporated(US), Jenoptik Laser GmbH(Germany), and Coherent Inc.(US).
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