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Laser Cutting Machine Market Size, Growth 2024 | Industry Report

Laser Cutting Machine Market Analysis Report By Technology, By Process, By Application And Segment Forecasts From 2016 To 2024

Report ID: MN17618862  |  Published: July 2020  |  No of Pages: 137
Format: Electronic (PDF)  |  Industry: Machinery and Machine Parts  |  Publisher: Grand View Research

Industry Insights

The laser cutting machine market size across the globe was valued USD 3.02 billion in the year 2015. This can be associated with the rising automation technologies across the manufacturing sector coupled with the surging demand for such machines across the end-use industry.

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.

Europe laser cutting machine market

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 Insights

The gas technology segment is anticipated to register highest CAGR of 9.4% in the upcoming years. The rising demand for enhanced machining equipment and tools is anticipated to drive the demand for this technology. Moreover, their usage in dye laser pumping, hologram making, laser printing and barcode reading is projected to drive the demand for laser cutting machines over the next few years.

The segment of solid-state is projected to hold the largest share across the global market on account of rising usage of such technologies in applications requiring low power. Also, usage of this technology across several medical applications like dentistry, skin rejuvenation, and endoscopy is projected to generate demand in the upcoming years.

Process Insights

In 2015, the flame cutting segment held the largest share across the global laser cutting machines market. This can be associated with its feature of providing high quality, improved finish, and more cutting speed as compared to the rest of the processes. Also, the rapidly increasing demand to trim small alloys of carbon and steel is projected to increase its demand in the upcoming years.

Asia Pacific laser cutting machine market

The process segment of fusion is anticipated to register 9.4% CAGR during the forecasted period. It is largely being used for cutting electrical sheets, structural steel, and for electric motor prototyping. Also, salient features like higher cutting speed and more flexibility are projected to drive the demand for such processes across the manufacturing industry.

Application Insights

The industrial application segment held the largest share across the global market. It is projected to generate revenue of USD 1.78 billion until 2024. This growth can be attributed to the rapidly developing industrial sector across the globe. Further, rising usage of such machines for cleaning parts and molds in the manufacturing process is projected to drive their demand during the forecasted period.

The segment of consumer electronics is projected to register the highest growth during the forecasted period, 2016 to 2024. This can be attributed to the rising usage of such machines for cutting and welding of consumer electronics and products. They are widely being used for cutting mobile phone display cases and printed circuit boards. As the life of such devices is short, the demand for such machines is expected to surge up in the upcoming years.

Regional Insights

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.

Laser Cutting Machine Market Share Insights

The key players in the market are Coherent Inc, Alpha Laser GmbH, Bystronic Inc., DPSS Laser Inc., Fanuc Corporation, Jenoptik Laser GmbH, and Kern Lasers System. They are constantly engaged in product development and innovation to gain a competitive advantage over other players.

They are also investing hugely in R&Ds to widen their product portfolio and product reach across the globe. Also, several strategies like partnerships and investments are being conducted out by these players to develop technologically advanced and easy to use products.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2015 - 2016

Forecast period

2016 - 2024

Market representation

Revenue in USD Billion and CAGR from 2016 to 2024

Regional scope

North America, Europe, Asia Pacific, and RoW

Report coverage

Revenue forecast, company share, competitive landscape, and growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends from 2015 to 2024 in each of the sub segments. For the purpose of this study, Million Insights has segmented the global laser cutting machine market report based on technology, process, application, and region:

• Technology Outlook (Revenue, USD Billion; 2015 - 2024)
    • Solid State
    • Gas
    • Semiconductor

• Process Outlook (Revenue, USD Billion; 2015 - 2024)
    • Fusion
    • Flame
    • Sublimation

• Application Outlook (Revenue, USD Billion; 2015 - 2024)
    • Automotive
    • Consumer Electronics
    • Defense and Aerospace
    • Industrial
    • Others

• Regional Outlook (Revenue, USD Billion; 2015 - 2024)
    • North America
    • Europe
    • Asia Pacific
    • RoW

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