Global Laser Cutting Machine Market is estimated to grow considerably in the forecast period owing to the flourishing automotive industry. Laser cutting is a technology that cuts steel and alloy materials used for industrial applications. It is majorly used in applications, such as internal and external body fabrication for aircraft, ships, robots, automobiles, art and sculpture. Laser cutting machines enable metal fabricators to manufacture high-quality components that need minimum, if any, finishing work. In the laser cutting process, laser never damages the metal, leading to less or no wearing out on the machine.
Laser cutting machine market is majorly driven by growing industrialization, increase in urbanization, high adoption of laser cutting machines by end users, and rise in investments by manufacturers. However, significant cost associated with the installation of these machines, low technical expertise and high consumption of power are predicted to restrain the laser cutting machine industry.
Increasing automation in laser cutting machines is an emerging trend in the market. Moreover, manufacturers are increasingly focusing on reducing prices of laser cutting machines due to high adoption by end users and intense competition among the market players.
Laser cutting machines market is categorized on the basis of process, technology, end user, and geography. On the basis of process, laser cutting machine industry is divided into flame cutting, fusion cutting, and sublimation cutting.
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Based on technology, laser cutting machine market is split into gas lasers, semiconductor lasers, and solid state conductors. Gas segment is anticipated to lead the market in future due to rise in demand for better-quality equipment and machining tools. Moreover, semiconductor lasers segment is expected to lead the market due to its wide applications. Semiconductors are comparatively cheaper than other types of lasers, consumer less power, and are compact in size.
In terms of end user, laser cutting machine industry is bifurcated into consumer electronics, industrial use, automotive applications, defence and aerospace, and others. Consumer electronics segment is predicted to contribute significantly to the market due to growing urbanisation and high demand from consumer electronics from both developing and developed economies. Furthermore, defence and aerospace and automotive segments lead the market due to increase in applications and rise in demand for automobiles.
Geographically, laser cutting machines market is segmented as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is predicted to dominate the market owing to the mature industrial market. Asia Pacific also leads the market due to developments in the automotive sector, increase in demand for consumer electronics and growing industrialisation.
The leading players in laser cutting machines industry include ALPHA Laser GmbH, IPG Photonics Corporation, Jenoptik Laser GmbH, Trumpf GMBH + Co. KG, Amada Miyachi Company, Ltd., Epilog Laser Inc., Coherent Incorporation, Bystronic Incorporated, Cincinnati, Cutlite Penta, CY LASER, DANOBATGROUP, DPSS Laser, Hypertherm, Jenoptik, Laser Photonics, Prima Industries, Trotec Laser, Universal Laser Systems, Vytek Laser Systems, and Xenetech Global.
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