Laser Cutting Machines Market is Forecasted to Reach US$ 10.42 Billion in 2028, Says Stratview Research

The global laser cutting machines market is projected to witness a growth rate of 7.70% annually from 2023 to 2028, with an anticipated size of US$ 10.42 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global laser cutting machines market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2028: US$ 10.42 billion
Growth (CAGR): 7.70% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 4
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Laser Cutting Machines Market:

The global laser cutting machines market is segmented based on technology type, process type, application type, and region.

Based on technology type - The market is segmented into solid-state lasers, gas lasers, and semiconductor lasers. Solid-state laser technology occupied a market share of more than 40% in 2022 and is expected to be the dominant segment of the market during the forecast period. Due to its increasing demand in medical applications such as endoscopy, dentistry, and skin rejuvenation. In addition, the quick cutting efficiency of solid-state laser cutting machines is expected to drive market growth over the forecast period.

Based on process type - The market is segmented as fusion cutting, flame cutting, and sublimation cutting. Flame cutting process type held the largest market share of more than 40% in 2022 and is anticipated to account for the major market share during the forecast period owing to its huge demand in the metal-cutting industry. In addition, the flame-cutting process provides high quality, improved finish, and excellent cutting speed. These features are expected to drive demand in the coming years.

Based on application type - The market is segmented as automotive, consumer electronics, defense and aerospace, industrial, and others. The industrial application segment accounted for the highest market share of more than 35% in 2022 and is estimated to account for the major share of the market during the forecast period on account of increasing industrialization in emerging economies. Furthermore, the growing demand for laser-cutting machines in various manufacturing processes is expected to drive their demand during the forecasted period.

To know the most attractive segments, click here:
https://www.stratviewresearch.com/2806/laser-cutting-machines-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific region dominated the market with a share of more than 40% in 2022. This growth outlook is majorly attributed to the following-

• Presence of emerging economies such as China and India.
• Furthermore, rapid industrialization and the presence of key players are expected to drive market growth over the forecast period.
• North America and Europe are also expected to offer significant growth opportunities during the forecast period.

Laser Cutting Machines Market Drivers:

Some of the key drivers listed in the report are given below.
• Increasing automation in the manufacturing sector, as well as a surge in demand for laser cutting machines for high-quality production.
• Rapid industrialization and growing demand from emerging economies are expected to fuel market growth.

Top Companies in the Laser Cutting Machines Market:

Stratview Research has identified the following companies as the top market players.
• Alpha Laser GmbH
• Amada Miyachi Co. Ltd
• Bystronic Inc.
• Coherent Inc.
• DPSS Laser Inc.
• Epilog Lasers Inc.
• Fanuc Corporation
• IPG Photonics Corporation
• Jenoptik Laser GmbH
• Rofin-Sinar Technologies Inc.

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Laser Cutting Machines Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

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This release was published on openPR.