New York, United States, Oct. 10, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “laser cutting machine market Information Report, By Technology, Process, End User & Region – Global Forecast To 2030, the market is expected to acquire a valuation of approximately USD 5.96 billion by the end of 2030. The reports further forecast that the market will thrive at a robust CAGR of over 8.40% during the assessment period.
Laser Cutting Machine Market Overview:
The laser cutting machine market is expected to witness considerable gains, driven by growing customer demand for increased efficiency. Laser technology allows a significant increase in cutting speed and production while avoiding the oxidation of materials. These machines combine high power and productivity to allow large format cuts, including flat cut (2D) and bevel cut options. Laser cutting machines can be integrated with automation solutions to optimize loading-unloading, storage and smart part sorting performance.
Major Players involved in Laser Cutting Machine market are-
- Jenoptik Laser GmbH (Germany)
- Coherent Inc. (USA)
- Bystronic Incorporated (USA)
- IPG Photonics Corporation (USA)
- Epilog Laser Inc. (USA)
- Trumpf GMBH (Germany)
- MKS Instruments (USA)
- Amada Miyachi Inc. (USA)
- Launch Fab Tech Pvt. ltd. (India)
- Alpha Laser (USA)
- Jiangsu Dajin Laser Science and Technology Co., Ltd. (China)
- Xenetech (USA)
- Trotec Lasers (USA)
- Universal Laser Systems (US)
- Han’s Laser Smart Equipment Group Co., Ltd (China)
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The market is experiencing high demand for custom-made laser and waterjet cutting machines that can be integrated with smart and scalable automation systems as well as production management solutions for autonomous and strategic decision-making. Moreover, digital transformation, optimization of manufacturing process and increasing adoption of Smart Factory are driving the demand for cutting machines.
In addition, growing issues of skilled labor shortage, limited working hours and labor costs are driving the adoption of these machines. Moreover, the stringent quality control and tolerance requirements prompt manufacturing companies to add these machines to their factories. The rapidly growing Industry 4.0 in heavy industries around the world is driving market demand. Manufacturing sectors around the world are embracing automation and advanced technology to meet the machining needs of customers.
laser cutting machine market Report Scope:
|Revenue forecasts in 2030||$5.96 billion|
|Rate of growth||CAGR of 8.40% from 2022 to 2030|
|Key market opportunities||New Product Launches and R&D Among Major Key Players|
|Key Market Drivers||Increase in demand for automobiles|
Browse In-Depth Market Research Report (100 Pages) on Laser Cutting Machine Market:
Large manufacturing facilities are increasingly implementing laser machines for their cutting, engraving and marking needs. Laser cutting systems have been a game changer for the metal forming industry, with the laser revolution across the world. These machines emerged as a solution to simplify the metal forming process. Growing demand for advanced commercial products in compact size is increasing the market revenue.
Additionally, significant advancements in production technologies and emergence of smarter factory concept are driving the growth of the market. The demand for cutting machines with a high degree of automated functionality to deliver faster setup times is increasing. Moreover, the growing pressure to reduce time, manual labor and operational costs while increasing production justifies the market value.
On the other hand, the growth of the market is hindered by several challenges, such as difficulties in data processing and programming errors due to complex structure, high purchase and repair costs, complexity in selection of materials, overheating and improper settings of machinery, and communication failure.
Almost every industry requires custom laser cutting machining for precise laser parts that are sometimes complex to produce using traditional methods. Growing demand for laser cutting machining in industries such as aerospace and automotive, building and construction is driving the growth of the market.
Laser cutting machine market segments
The Laser Cutting Machines market report is segmented into technologies, processes, end users and regions. The technology segment includes semiconductor lasers, gas lasers and semiconductor lasers. The process segment includes fusion die-cutting, flame die-cutting, and sublimation die-cutting. The end-user segment includes automotive, consumer electronics, defense and aerospace, industrial and others. The regional segment includes Americas, Asia-Pacific, MEA, Europe and Rest of the World.
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Regional Analysis of the Laser Cutting Machines Market
North America dominates the global laser cutting machine market. The meteoric rise in automotive production in this region is driving the demand for laser cutting machines. Additionally, consumer preference for various vehicles and advanced metal cutting machines influences the market revenue. With strong developments in the industrial sector, the United States is the largest contributor to the global and North American laser cutting machine market.
The Asia-Pacific region holds the second best position in the global laser cutting machine market. Increasing technological upgrades and automation in manufacturing sectors increase market value. Furthermore, ample availability of key raw materials and competitive labor force in the region is positively impacting the growth of the laser cutting machine market.
The increasing adoption of these machines and rapid industrialization are driving the market demand. Additionally, the growing application areas of laser cutting machines in today’s manufacturing environment are justifying the market revenue. Strong demand for products from booming manufacturing sectors is also propelling the region’s market shares.
Laser Cutting Machine Market Competitive Analysis
The highly competitive laser cutting machine market appears fragmented owing to several well-established players forming a competitive landscape. These industry players initiate strategic approaches such as mergers and acquisitions, collaboration, expansion, and product/technology launches to gain greater competitive share. They make substantial investments in R&D to develop technology that is completely different from that of their competitors. Another strategy of these companies is to work closely with car manufacturers and aircraft manufacturers to provide customized solutions.
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For example, on September 21, 2022, Precitec (Germany), one of the world’s leading providers of laser cutting and welding solutions, announced a partnership with TCI Cutting (Spain), a manufacturer of laser cutting and waterjet and production automation and management solutions. . This technology collaboration aims to help their customers achieve optimum results by combining maximum cutting performance, power, productivity, efficiency and profitability.
TCI Cutting has developed fiber laser cutting machines like the Dynamicline Fiber 20kW with a maximum acceleration of 4G and a carbon fiber bridge and linear motors, with the high power laser cutting head ProCutter 2.0 manufactured by Precitec. These highly productive machines can meet the most demanding cutting needs of the market. With real-time communication between the cutting machine and the head, these machines offer high kinematic performance and excellent cutting quality.
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