Laser Cutting Machine Market Product Estimates, Revenue Driver and Restraint Analysis Till 2024

Felton, Calif., USA, May. 24, 2021 — /EPR Network/ —

The global Laser Cutting Machine Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The global laser cutting machine market size is anticipated to reach USD 6.72 billion until 2024. This growth can be attributed to the rising usage of these technologies for automating the industrial processes. Moreover, the rising usage of YAG (Yttrium Aluminum Garnet), CO2, and fiber lasers for cutting applications is projected to drive the demand for such machines.

Key Players:

• Alpha Laser GmbH
• Amada Miyachi Co. Ltd
• Bystronic
• Coherent
• DPSS Laser Inc.
• Epilog Lasers Inc.
• Fanuc Corporation
• IPG Photonics Corporation
• Jenoptik Laser GmbH
• Kern Lasers System
• Rofin-Sinar Technologies Inc.

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Growth Drivers:

Rapid globalization coupled with rising consumer demand at the micron level is projected to create demand for such machines in the upcoming years. Further, the end-use industry has started adopting such machines to manufacture enhanced quality products within less time. Moreover, rising automation trend is driving the players to develop such laser cutting machines.

Such laser cutting machines can cut patterns and parts precisely at faster speeds with enhanced results. Thus, many manufacturers have started investing in laser cutting automation on account of the rising need for energy conservation coupled with the low downtime required for carrying out this procedure.

The manufacturers of such machines are constantly engaged in lowering the cost of their machines on account of rising competition among them across the globe. But, other factors like lack of skilled workforce, more power consumption, and higher costs are anticipated to hinder the market growth in the upcoming years.

Technology Outlook:

• Solid State Lasers
• Gas Lasers
• Semiconductor Lasers

Application Outlook:

• Automotive
• Consumer Electronics
• Defense and Aerospace
• Industrial

Process Outlook:

• Fusion Cutting
• Flame Cutting
• Sublimation Cutting

Regional Outlook:

In 2015, North America dominated the global laser cutting machines market. In 2015, this segment held a share of around 31.0% across the global market. It is expected to value USD 1.97 Billion until 2024.  This can be attributed to the rapidly growing industrial sector across this region.

The Asia Pacific is projected to register the highest growth during the forecasted years, 2016 to 2024. This can be associated with the increasing number of developing economies like India, China, and Japan. Further, surging usage of laser technologies across the manufacturing sector for the production of consumer electronics, automotive components, and semiconductors is driving the market demand in the upcoming years.

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