Worldwide Market Opportunities for Laser Cutting Machines will Show High Growth | North America Accounts for Lion's Share

The global laser cutting machines market is expected to witness significant growth during the forecast period, with North America being the major market, followed by Asia-Pacific.

Increase in technological improvement in the machining technology forces the market to evolve. The difference in features of the laser cutting machines and its substitute affects the market growth. The number of players in the market is limited but the competition is high for the market share. Product launches with improving technologies and the geographical expansion are expected to increase the market competition.

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Key players profiled in the report include Coherent Incorporation, Jenoptik Laser GmbH, ALPHA Laser GmbH, Bystronic Incorporated, Epilog Laser Inc., IPG Photonics Corporation, Trumpf GMBH + Co. Kg, and Amada Miyachi Company, Ltd.

According to a new report published by Allied Market Research, the global laser cutting machines market is expected to reach $5.7 billion by 2022, growing at a CAGR of 9.3% from 2016 to 2022. In 2019, North America contributed a major market share, in terms of revenue.

MARKET OVERVIEW in the Report Include...

Market definition and scope
Key Findings

Top impacting factor
Top winning strategies
Top investment pockets

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Porters Five Forces analysis

1. Moderate bargaining power of suppliers due to large vertical integration among companies and high switching cost

2. High bargaining power of buyer due to availability of substitutes, and low switching costs

3. Availability of substitutes increases threat of substitutes

4. Low threat of new entrants due to presence of dominant players and high barriers to entry

5. Low brand loyalty, high switching costs and high degree of vertical integration increase the competition among rivalries

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Growth Drivers

1. High demand from the end-user industries
2. Increasing need of automation in the manufacturing industry

Restraints

1. Large expenditure on Research & Development
2. Availability of substitute machinery
3. Introduction of new technologies for improving machines

Based on technology, laser cutting machines market is segmented into...

solid state laser, gas laser, and semiconductor laser. Solid state laser was the highest revenue contributor and accounted for around 40% share of the overall market in 2019. However, gas laser is expected to witness rapid growth during the forecast period.

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Key Findings of the Laser Cutting Machines Market:

1. Solid state laser generated the highest revenue and accounted for around 40% share of the overall market in 2019.

2. Flame cutting segment contributed largest market share in 2019

3. In 2019, North America was the highest revenue contributor, with over 30% of the global market share.

4. Asia-Pacific is expected to be the fastest growing region owing to the increase in number of manufacturing facilities and increase in purchasing power of people in the developing nations.

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Mid Infrared Laser Market: https://www.alliedmarketresearch.com/mid-infrared-laser-market

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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