Market Overview
- The Global Laser Cutting Machine Market is expected to grow at a CAGR of 9.5% during the forecasting period (2020-2027).
- The rise in automation in manufacturing industries owing to the demand for high-quality products all around the world is anticipated to drive the market for Laser cutting machine in the forecast period.
Download free sample: https://www.datamintelligence.com/download-sample/laser-cutting-machine-market
Market Dynamics
- The global Laser Cutting Machine Market is primarily driven by the high rise in automation owing to the demand for standard quality products all around the world. The increasing production activities all around owing to the rising demand is enabling the production facilities for installation of laser cutting machine which work with high precision with very low wastage. The firm is installing a new laser cutter machine to increase production too.
- For instance, WEC Group Invests in state-of-the-art Laser Cutting Machine for MTL Advanced. The brand new 6m x 2.5m Trumpf CO2 TruLaser 8000 has been commissioned in December as part of an ongoing investment plan to modernize MTL’s machinery line-up and boost productivity. With high-speed cutting and reduced energy consumption of up to 40 percent compared to the machine it replaced, the “new generation” large bed laser provides superior contour precision and higher part quality than most other laser cutting machines on the market. The new investment will enable MTL to retain a competitive advantage on large volume production contracts as well as wear-resistant, high strength, and stainless-steel components.
- However, the high installation cost and the availability of substitutes will be hampering the growth of the Laser Cutting Machine.
Market Segmentation Analysis
- By Product, the global Laser Cutting Machine Market is segmented into Fiber, Solid-state, Diode, and Others. Fiber has the dominant position in the Laser Cutting Machine market due to technological advances, growing industrial applications, and eco-friendly nature. Fiber laser cutting machines can work upon both metals and non-metals. Solid-state laser cutting machine demand is increasing owing to its quick cutting efficiency and is expected to grow with a higher CAGR in the forecast period. It is expected that Fiber laser cutting will grow at a CAGR of ~XX% during the forecast period.
- By Process, the global Laser Cutting Machine Market is segmented Fusion Cutting, Flame Cutting, and Sublimation Cutting. Flame cutting has a higher dominance in the Process segment of Laser Cutting Machine as they have a huge demand in metal cutting industries. However, the Fusion cutting Process segment will be growing with a higher CAGR for the forecast period.
Market Geographical Analysis
- By geography, the global Laser Cutting Machine Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
- APAC holds the largest market share for Laser Cutting Machine Market due to economy rise and growing manufacturing industries like consumer electronics and automotive in the region. China and India have high demands for Laser Cutting machines owing to the rise in the production of mobile phones and automotive. For instance, according to the Indian Cellular Association (ICA), the annual production of mobile phones within the country has increased from 3 million devices in 2014 to 11 million devices in 2017. India now accounts for 11 percent of global mobile production, which was only 3 percent in 2014.
- However, North America is after APAC in terms of the market share of Laser Cutting Machine Market due to an increase in due to high technological advancement and the higher adoption of technologies such as laser cutting. The other major reason is the presence of leading automotive manufacturers. The rise in the production and the investments for new production facilities of automotive in the region is expected to grow the laser cutting market in the forecast period. Honda completed more than $174 million in expansion and innovation activities at its U.S. plants in 2018, totaling $5.9 billion new capital investments in Honda's U.S. production operations undertaken over the past five years.
Competitive Analysis
- Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. Global Laser Cutting Machine Market is a fragmented market with the presence of various global and regional players in the market. The major players include Coherent Incorporation, Jenoptik Laser GmbH, ALPHA Laser GmbH, Bystronic Incorporated, and Epilog Laser Inc. Other key players in the market include IPG Photonics Corporation, Trumpf GMBH Co. KG, Amada Miyachi Company Ltd., Conzzeta Management AG, and Han’s Laser Technology Industry Group Co. Ltd.
View full report: https://www.datamintelligence.com/research-report/laser-cutting-machine-market
Enquiry before buying: https://www.datamintelligence.com/enquiry/laser-cutting-machine-market
About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year, we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at DataM Intelligence
Email: [email protected]
Tel: +1 877 441 4866
Website: www.datamintelligence.com
Global Laser Cutting Machine Market by Manufacturers, Countries, Type and Application, Forecast to 2023 Report “ Provides In-Depth Analysis Of Parent Market Trends, Macro-Economic Indicators And Governing Factors Along With Market Attractiveness As Per Segments.Introduction:Laser cutting machine is a machine which uses laser beam to cut materials such as acrylic, plastic, wood, fabric, and many other non-metallic materials.
The laser cutting machines initially casts laser beam on the surface of work piece, melts it and finally evaporates the particular area of work piece using the energy released by laser.Scope of the Global Laser Cutting Machine Market ReportThis report focuses on the Laser Cutting Machine in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa.
This report categorizes the market based on manufacturers, regions, type and application.Request a Sample of this Report @ http://www.orbisresearch.com/contacts/request-sample/2193736 The worldwide market for Laser Cutting Machine is expected to grow at a CAGR of roughly 9.7% over the next five years, will reach 5880 million US$ in 2023, from 3360 million US$ in 2017, according to a new GIR (Global Info Research) study.Europe was the largest production market with a market share of 29.42% in 2012 and 26.78% in 2017 with a decrease of 2.64%.
Along with the development of Chinese domestic Laser Cutting Machines, Chinese domestic Laser Cutting Machines has been very mature and advanced, and the performance distance has been shortening compared with the imported Laser Cutting Machines.
Despite the presence of competition problems, due to the global recovery trend is clear, investors are still optimistic about this area; the future will still have more new investment enter the field.
Although sales of Laser Cutting Machines brought a lot of opportunities, the study group recommends the new entrants just having money but without technical advantage and downstream support do not to enter into the Laser Cutting Machines field.
