Laser Cutting Machine Global Market Report 2024 - By Growth, Size, Share, Report, Forecast To 2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Laser Cutting Machine Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $8.23 billion In 2028 At A CAGR Of 10.0% :
The laser cutting machine market size has grown rapidly in recent years. It will grow from $5.06 billion in 2023 to $5.61 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to demand for precision engineering solutions, development of compact machines, shift towards high-power lasers, growing role in electronics manufacturing, adoption in aerospace and defense.

The laser cutting machine market size is expected to see rapid growth in the next few years. It will grow to $8.23 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The growth in the forecast period can be attributed to shift towards compact and versatile systems, precision engineering requirements, market expansion in emerging economies, advancements in material processing, environmental sustainability. Major trends in the forecast period include adoption of fiber laser technology, increased automation and integration, advancements in power and speed, expansion in industrial applications, customization and personalization.

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Laser Cutting Machine Market Major Segments
The laser cutting machine market covered in this report is segmented -
1) By Technology: Solid State, Gas, Semiconductor
2) By Process: Fusion Cutting, Flame Cutting, Sublimation Cutting 
3) By End User Industry: Automotive, Consumer Electronics, Defense And Aerospace, Industrial, Other End User Industries

Key Driver - Surging Automobile Demand Propels Growth In Laser Cutting Machine Market
The increasing demand for automobiles is expected to drive the laser cutting machine market. The demand for automobiles is increasing due to growing need for transportation, increasing income levels, rapid urbanization, and others. This increasing demand for automobiles will elevate the demand for laser cutting machines as these machines help in creating precisive designs and fastening the process of manufacturing auto parts relating to automobiles. Laser cutting machines are effective and efficient tools for precision cutting and designing projects related to automobiles to achieve modern designs. For instance, according to the India Brand Equity Foundation (IBEF), in India, all automotive segment sales increased from 17.47 million units in January-December 2020 to 18.49 million units in the calendar year 2021, showing an increase of 5.8%. In addition, The Indian automotive industry (including component manufacturing) is predicted to reach $251.4-282.8 billion by 2026. It indicates the demand is growing for automobiles. Therefore, the growing demand for automobiles is driving the laser cutting machine market.

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Prominent Trend - Cutting-Edge 3D Fiber Laser Machine For Steel Processing
Major companies in the laser cutting machine market are focused on developing advanced machines, such as 3D fiber laser cutting machines, for steel processing, and to gain a competitive edge in the market. A 3D fiber laser cutting machine is a precision tool that utilizes a fiber laser oscillator to cut various materials. For instance, in May 2022, Yamazaki Mazak, a Japan-based machine tool builder, launched the FG-400 NEO, a 3D fiber laser cutting machine for steel products. Featuring an energy-efficient fiber laser oscillator, it enables high productivity and precision when cutting materials, including steel, aluminum, brass, and copper. The machine allows users to control laser beam diameter and shape, facilitating the cutting of various thicknesses with a single unit.

Laser Cutting Machine Market Players
Major companies operating in the laser cutting machine market report are Trumpf Laser GmbH + Co KG, Coherent Inc., Amada Co Ltd., Jinan Golden Laser Co Ltd., Han's Laser Smart Equipment Group Co Ltd., IPG Photonics Corporation, Prima North America Inc., Bystronic AG, Jenoptik Laser GmbH, Mazak Corporation, Wuhan Raycus Fiber Laser Technology Co Ltd., Shenzhen Raycus Fiber Laser Technology Co Ltd., LVD Company NV, Glorystar Laser Co Ltd., Maxphotonics Technology Co Ltd., Universal Laser Systems Inc., HG Laser Co Ltd., Epilog Laser, MORN Laser, Mitsubishi Laser Machinery Co Ltd., Rofin-Sinar Technologies Inc., Trotec Laser GmbH, GCC Laser, Golden Laser Group Co Ltd., Dongguan Aowei Laser Technology Co Ltd., Reci Laser Technology Co Ltd., Raytech Laser Co Ltd., ACCURL Laser Technology Co Ltd., Sino-Stargle Laser Technology Co Ltd., Bodor Laser

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Largest And Fastest Growing Region In The Market
North America was the largest region in the laser cutting machine market in 2023. Asia-Pacific is expected to be the fastest-growing region in the laser cutting machine market share during the forecast period. The regions covered in the laser cutting machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Laser Cutting Machine Market Report Structure
3. Laser Cutting Machine Market Trends And Strategies
4. Laser Cutting Machine Market - Macro Economic Scenario
5. Laser Cutting Machine Market Size And Growth
…..
27. Laser Cutting Machine Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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