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Laser Cutting Machine Market: Comprehensive Market Research, Industry Insights, Growth Drivers, and Future Potential
Laser Cutting Machine Market
As per the report, 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 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%.
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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.
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.
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
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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
Contents of the report:
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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