The Global Laser Cutting Machine Market will reach US$ 3,386.4 Million in 2022, growing at a 5.8% CAGR from 2022 to 2032, according to Future Market Insights.
Laser cutting has emerged as a versatile, cost-effective method for many applications that delivers extremely high precision when compared to traditional cutting methods. Laser cutting machines are used in a variety of industries, including automotive, aerospace, ceramics, metal cutting, defence, semiconductors, glass, ceramics, paper, and so on. This product facilitates material cutting without the generation of heat or mechanical stress.
In terms of accuracy, productivity, and efficiency, laser cutting machines outperform other cutting machines. Because they are well suited to mass production processes, highly complex and specialised components are typically preferred for many industries. Because it can cut items faster than a waterjet cutting machine, laser cutting is a more cost-effective option. These are the forces propelling the market’s expansion, which will make it more stable in the coming years.
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Key Takeaways of Laser Cutting Machine Market Study
- The value of mechanized Laser Cutting Machine 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, fiber based technology in Laser Cutting Machine is projected account for more than 60% share by the end of 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 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 are aim to concentrate on diversifying their product lines with technologically advanced products in order 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., Coherent, Inc. are a few of the market’s major participants.
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 by Technology, by mode of operation, by end use and by region.
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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)
