Laser Cutting Machine Market Was Predicted 3751 million in 2019 and is expected to grow at a CAGR of 7.5% | Size, Growth & Industry Forecast

Laser Cutting Machine Market

The Laser Cutting Machine Market was estimated around 3751 million in 2019 and is expected to grow at a CAGR of 7.5% over the forecast period (2020-2027).

For More Info, Click to Access Complete Report - https://www.gmiresearch.com/report/laser-cutting-machine-market/

The factors driving the growth of Laser Cutting Machine Market includes increasing application of laser cutting machines across end-use industries such as automotive, consumer electronics, and aerospace & defense, Government initiatives promoting digitalization, growing demand for industry 4.0 solutions and improvements in the living standards. According to the report published by Statista, the production volume of consumer electronic products in India has increased from INR 770 billion during fiscal year 2019, to INR 810 billion in FY 2020, which is expected to boost the Laser Cutting Machine Market size in the approaching years. Moreover, technological advancements in laser cutting machines, rise in the launch of innovative products, introduction of new technologies, expansion of the manufacturing sector, growing awareness about the benefits of laser cutting machines and rapid industrialization, are some of the additional factors supplementing the Laser Cutting Machine Market share. In addition, the increasing investments by leading players on research and development, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.

However, growth of the Laser Cutting Machine Market is hindered because laser cutting machines consumes high power.

The prominent players operating in the market are Fanuc Corporation, IPG Photonics Corporation, Jenoptik Laser GmbH, Alpha Laser GmbH, Amada Miyachi Co. Ltd, Bystronic Inc., Kern Lasers System, Coherent Inc., DPSS Laser Inc. and Epilog Laser, among others.

Based on Technology, the Gas Lasers segment is predicted to grow at a significant CAGR during the forecast period

Increasing use of gas laser technology in barcode reaching, laser printing, and dye laser pumping, are propelling segment's growth.

Based on Application, the Industrial segment is projected to expand at a robust CAGR over the forecast period

Increasing use of laser cutting machines to clean molds and parts during the manufacturing process, is pushing segment's growth.

Based on Region, the Asia-Pacific region is anticipated to grow at a remarkable CAGR during the forecast period

Increasing Foreign Direct Investments (FDI) inflows across manufacturing industries, growing demand for technologically advanced laser cutting machines, rapid urbanization, rising per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.

Market Segmentation

Segmentation by Technology

Solid-State Lasers
Gas Lasers
Semiconductor Lasers

Segmentation by Process

Fusion Cutting
Flame Cutting
Sublimation Cutting

Segmentation by Application

Automotive
Consumer electronics
Defense and aerospace
Industrial
Others

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe - +353 1 442 8820; US - +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/

Level 1, The Chase Carmanhall Road, Sandyford Industrial Estate, Dublin D18 Y3X2, Ireland

GMI Research's leadership team with extensive experience in research and consulting together with our research and domain expertise creates a strong value proposition to create solutions that addresses our clients business problems and add significant value to long lasting relationship.

This release was published on openPR.