REPORT HIGHLIGHT
The Laser Cutting Machines Market size was valued at USD 6,041.3 Million in 2022, expanding at a CAGR of 10.1% from 2023 to 2030.
Laser-cutting machines are a tool used in a variety of sectors for precise cutting and project design. It is pleasant an increasingly popular method for cutting materials such as metal, plastic, wood, and glass. Laser cutting is used in a wide range of industries, including automotive and medical device manufacturing since it provides a high level of accuracy and precision. Each of these industries has various needs and uses laser cutting in different ways. The automobile industry, for example, uses laser cutting to make car parts and components. The medical device business uses laser cutting to manufacture medical devices and implants. Furthermore, Laser cutting uses a high-power laser that is directed through optics and computer numerical control (CNC) to direct the beam or material. Typically, the process uses a motion control system to follow a CNC or G-code of the pattern that is to be cut onto the material.
Laser Cutting Machines Market- Market Dynamics:
- The rising demand for the end-use industry expected to propel Laser Cutting Machines Market demand.
- The expansion and innovation in various end-use industries, driven by trends such as digitization, sustainability, urbanization, and others, are projected to fuel demand for laser cutting machines in the upcoming period. Laser-cutting machines are extensively utilized in the manufacturing sector for precise, efficient, and fast material cutting, whether for machine components, electronics, or consumer items. As the global industry expands, so does the demand for laser-cutting devices. In 2021, Manufacturing contributed USD 2.3 trillion to U.S. GDP amounting to 12.0 % of total U.S. GDP. Including direct and indirect value-added, manufacturing contributed an estimated 24 % of GDP, according to Manufacturing Industry Statistics. The incorporation of automation and AI in laser cutting equipment can boost productivity, precision, and convenience of use, presenting considerable growth opportunities. However, High Maintenance and Operational Costs may hamper the growth of the market.
Laser Cutting Machines Market- Key Insights:
- As per the analysis shared by our research analyst, the global Laser Cutting Machines market is estimated to grow annually at a CAGR of around 10.1% over the forecast period (2023-2030)
- The Laser Cutting Machines industry is projected to grow at a significant rate due to the growing awareness of sustainable growth
- Based on Process segmentation, Flame Cutting was predicted to show maximum market share in the year 2022
- Based on Technology segmentation, Solid State Lasers were the leading type in 2022
- Based on Application segmentation, industrial was the leading type in 2022
- On the basis of region, Asia Pacific was the leading revenue generator in 2022
Laser Cutting Machines Market- Segmentation Analysis:
- The Global Laser Cutting Machines Market is segmented on the basis of Process, Application, Technology, and Region.
- The market is divided into three categories based on the process: Fusion Cutting, Flame Cutting, and Sublimation Cutting. The Flame Cutting dominates the market. Flame cutting, also known as oxy-fuel cutting, is a typical cutting technology that uses a mixture of oxygen and fuel gases to heat and melt the material's surface. A stream of high-temperature oxygen is then blown into the heated spot, causing the metal to oxidize quickly and form a cut.
- The market is divided into three categories based on technology: Solid State Lasers, Gas Lasers, and Semiconductor Lasers. The Solid State Lasers dominate the market and are likely to maintain their dominance during the forecast period. solid-state lasers, particularly fiber lasers, can cut at high speeds while maintaining precision, making them excellent for industries requiring high throughput and accuracy, such as automotive, aerospace, and electronics.
- The market is divided into three categories based on application: Automotive, Consumer Electronics, Defense and Aerospace, Industrial, and Others. The industrial segment dominates the market. Due to the machine's precision, efficiency, and versatility in handling diverse materials, the laser cutting machines market is essential in a variety of industrial sectors.
Laser Cutting Machines Market- Geographical Insights:
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. Asia Pacific is expected to dominate the market growth, owing to the growing presence of consumer electronics and automotive manufacturers. The ongoing demand for consumer electronics is expected to fuel the growth of the laser-cutting machine market in this region. Major car manufacturers, including both traditional and electric vehicles, are also located in the region. Laser cutting is essential in vehicle production, from engine parts to bodywork, which drives demand for these devices. Automotive industry portals predicted that China vehicle production and sales volumes increases by 2.5% and 4.8% y/y in June. rising demand for the end-use industry will increase demand for laser cutting to support the laser cutting machine industry's growth in Europe.
Laser Cutting Machines Market- Competitive Landscape:
The laser cutting machines market is predicted to expand significantly due to increased demand from various sectors such as manufacturing, automotive, aerospace, electronics, and many others. Laser technological improvements, such as the introduction of solid-state lasers such as fiber lasers, have boosted competitiveness. Manufacturers are always updating their offerings in order to produce more efficient, dependable, and user-friendly machinery. Laser-cutting machines are utilized in a variety of industries, each with its own set of needs. As a result, manufacturers are competing to design equipment that can meet the specialized needs of various industries. For example, On June 22, 2023, Coherent Corp. a global leader in laser systems, subsystems, and components, nowadays announced that it will exhibit industry-leading products and capabilities at Laser World of Photonics, June 27-30 at the Trade Fair Center Messe Munchen in Munich, Germany, stand B3.321.
Recent Developments:
On Jan. 31, 2023, IPG Photonics Corporation, the world leader in fiber laser technology, nowadays announced the launch of six high-efficiency diode laser solutions providing numerous advantages over thermal ovens in industrial heating and drying applications.
Key features of the study:
- This proposed research study on Laser Cutting Machines market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
- The report provides the client the latest up-to-date and trending insights about the Laser Cutting Machines market.
- The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Laser Cutting Machines market
- The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Laser Cutting Machines market
- Impact of COVID-19 on Laser Cutting Machines market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Laser Cutting Machines market post-COVID will also be covered.
- In order to give the users of this report a comprehensive view on the Laser Cutting Machines market, we have also included competitive landscape and key innovator analysis for the Laser Cutting Machines market.
- The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
- The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Laser Cutting Machines market.
- In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
- The global Laser Cutting Machines market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL LASER CUTTING MACHINES MARKET KEY PLAYERS
- Coherent Inc.
- DPSS Laser Inc.
- Epilog Lasers Inc.
- Fanuc Corporation
- IPG Photonics Corporation
- Jenoptik Laser GmbH
- Kern Lasers System
- Rofin-Sinar Technologies Inc.
- Trumpf Laser GmbH + Co. Kg
- Avid Identification Systems, Inc.
- Alpha Laser GmbH
- Amada Miyachi Co. Ltd
- Bystronic Inc.
GLOBAL LASER CUTTING MACHINES MARKET, BY PROCESS
- Fusion Cutting
- Flame Cutting
- Sublimation Cutting
GLOBAL LASER CUTTING MACHINES MARKET, BY TECHNOLOGY
- Solid State Lasers
- Gas Lasers
- Semiconductor Lasers
GLOBAL LASER CUTTING MACHINES MARKET, BY APPLICATION
- Automotive
- Consumer Electronics
- Defense and Aerospace
- Industrial
- Others
GLOBAL LASER CUTTING MACHINES MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA