Laser Cutting Machines Market –Market Demand, Growth, Opportunities, Analysis of Top Key Players and Forecast to 2025
New Study Reports “Laser Cutting Machines Market 2019 Global Market Opportunities, Challenges, Strategies and Forecasts 2025”.
Global Laser Cutting Machines Market to See Potential in APAC
Laser cutting machines are used to melt and cut a targeted area of a sheet of metal or any other hard material by using a laser beam. Laser cutting machines are generally used in manufacturing processes, especially in metal cutting.
This report analyses the current status of the global laser cutting machines market, outlines the key market drivers and the bases for market segmentation, and studies the trends of this market till 2028.
The global laser cutting machines market is expected to reach USD 5.7 billion by 2022, growing at a CAGR of 9.3% between 2016 and 2022. This growth could be attributed to the increase in production on a global scale and the minimization of human involvement by introducing automation in manufacturing processes. With a boost in production in markets such as automotives, electronics and defense, the demand for laser cutting machines is set to grow further.
Important Key player analysis: Trumpf, Han’S Laser, Bystronic, Mazak, Amada, Coherent, Prima Power, Mitsubishi Electric, HG Laser, Koike, DMG MORI, Tianqi Laser, Unity Laser, LVD, Cincinnati and more.
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The global laser cutting machines market is segmented on the basis of technology, process, end user and geographical region.
According to technology, the laser cutting machine market can be divided into:
Of these, the fiber segment is estimated to account for the highest market share in the laser cutting machine market. The growing preference for fiber lasers over other types could be due to the eco-friendly nature of fiber lasers.
Based on process, the market is split into:
Depending on end user, this market can be split into:
Defense and Aerospace
North America, Europe, Asia-Pacific, South America, and Middle East and Africa are the major regions for the laser cutting machines market across the world.
North America has a booming industrial sector which already makes it one of the prominent regions in the laser cutting machine market. However, based on historical market research trends, industry experts predict that in terms of revenue, the Asia Pacific region, especially in India and China will account for the highest share of the laser cutting machines market during the forecast period. This growth could be due to a number of factors such as favourable government initiatives encouraging production, an overall rise in consumer spending, a boost in industry, an increased demand for automobiles, as well as competition in the form of local vendors providing low-cost laser cutting machines.
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In the latest industry updates as of August 2019, Belgium-based LVD Company has acquired Italy-based industrial automation solutions provider COMPAC. These two companies have been in partnership since 2016 to produce automatic warehouse systems for several LVD laser cutting equipment facilities in Italy. This acquisition will help to expand LVD’s portfolio of automation systems for flat sheet and tube laser cutting machines in order to improve overall production efficiency and output.
In September 2019, Prima Power, a leading manufacturer of laser and sheet metal machines, announced an expansion of its line of software products for the offline programming of its 3D laser machines.
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