Press release
Laser Cutting Machines Market to Expand at 10.30% CAGR, Fueled by Rising Demand for Consumer Electronics
The global laser cutting machines market is driven by the growing demand for aesthetics, large-scale vehicle production, and rising demand for consumer electronics. While high adoption of disk lasers in a number of industries is likely to boost demand for laser cutting machines in the coming years, safety concerns and high initial as well as maintenance costs threaten to impede the growth of the global market.
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The research report studies the laser cutting market by segmenting it on the basis of four parameters: Process, technology, end use, and geography.Based on process, the laser cutting machines market is categorized into flame cutting, sublimation cutting, and fusion cutting. Owing to the improved cutting finish, speed, and overall quality, flame cutting is the most common process used by laser cutting machines and this segment is followed by fusion cutting.
On the basis of technology, the laser cutting machines market is fragmented into gas lasers, semiconductor lasers, and solid state lasers. Solid state lasers represented the largest share in the market in 2014and are likely to retain its lead through 2020. This technology segment is boosted by wide-scale utilization in industries such as automotive, consumer electronics, and defense and aerospace.
By end use, the laser cutting machines market is segmented into consumer electronics, industrial, automotive, defense and aerospace, and others. The industrial sector holds the largest share in the laser cutting machines market owing to rapid industrialization in developing countries around the world. Consumer electronics, on the other hand, are anticipated to form the most rapidly growing end-use segment thanks to steady growth in sales.
The global laser cutting machines market is geographically divided into Europe, Asia Pacific, North America, and Rest of the World. Driven by its thriving industrial sector, North America is the largest laser cutting market in the world. Asia Pacific, coming in second, is fueled by rising sales of consumer electronics. This region is anticipated to expand at the highest CAGR during the forecast period.
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The key players operating in the global laser cutting machines market include DPSS Lasers Incorporation, Bystronic, Incorporation, Epilog Laser Inc., IPG Photonics Corporation, Trumpf Laser GMBH + Co. Kg, Coherent, Incorporation, Jenoptik Laser GMBH, ALPHA Laser GmbH, and Amada Miyachi Company Limited. These players are profiled in the research report based on aspects such as business and financial overview, recent developments, SWOT analysis, and business strategy.
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