Future Market Insights (FMI) predicts that the global market for laser cutting machines will increase between 2022 and 2032 at a compound annual growth rate of 5.8%, reaching a value of US$ 5,974.1 Million.
Laser cutting has emerged as a versatile, cost-effective method that delivers exceptionally high precision as compared to conventional cutting methods for many applications. Laser-cutting machines have applications in many industries, such as automotive, aerospace, ceramics, metal cutting, defense, semiconductors, glass, ceramics, paper, etc. This product helps to cut material without creating heat or any mechanical stress.
The accuracy, productivity, and efficiency of laser cutting machines are preferable to other cutting machines. Because they are so well suited to mass production processes, highly complex and specialized components are typically preferred for many industries. As it can cut items more quickly than a waterjet cutting machine, laser cutting is a more cost-effective choice. These are the driving forces behind the market’s expansion, making it more stable in the years to come.
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Key Takeaways of Laser Cutting Machine Market Study
- The value of mechanized Laser Cutting Machines is projected to increase at a value CAGR of 5.8% to reach around US$ 5,974.1 Mn by the end of 2032.
- In terms of End Use, Automotive and Transportation are anticipated to create an absolute dollar opportunity worth US$ 805.6 Mn.
- In the Global Laser Cutting Machine market, fibre-based technology in Laser Cutting Machines is projected to account for more than 60% share by the end of the forecast period owing to its demand which is increasing in day-to-day applications
- By Region, East Asia is anticipated to account for more than 25% of the market share in terms of volume by the end of 2032 and is expected to remain dominant throughout the forecast period.
“Adoption of technologies for improving machines and customer-centric product offerings are the key trends paving the way for futuristic growth for the Laser Cutting Machine market,” says Future Market insights analyst
Competitive Landscape
The market is fragmented among the market participants, accounting for market share ranging from 30% to 40% of market revenue in 2021. Prominent players in the market aim to concentrate on diversifying their product lines with technologically advanced products to gain a prominent share in the market and offer significant efficiency and better output to their customers.
The TRUMPF, Bystronic DNE, Hans Laser, HSG Laser, Amada Co. Ltd., and Coherent, Inc. are a few of the market’s major participants.
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More Insights into the Laser Cutting Machine Market Report
In its latest report, Future Market Insights offers an unbiased analysis of the Global Laser Cutting Machine market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented based on Technology, mode of operation, end-use and by region.
Key Segments Covered in Laser Cutting Machine Industry Analysis
Laser Cutting Machine Market by Technology:
- Gas Based
- Solid State
- Fiber-Based
Laser Cutting Machine Market by Mode of Operation:
- Mechanized
- Manual
Laser Cutting Machine Market by End Use:
- Automotive and Transportation
- Consumer Electronics and Appliances
- Electrical and Heavy Machinery
- Metal Fabrication
- Other Industrial
Laser Cutting Machine Market by Country:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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