Industry Outlook and Trend Analysis
The Laser Cutting Machine Market was worth USD 2.78 billion in 2014 and is expected to reach approximately USD 6.25 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 9.43% during the forecast period. The developing pattern of robotization in the manufacturing segment and the expanding interest for the end-use industry is foreseen to enlarge the interest for these machines over the figure period. The expanding globalization has prompted an immense request among buyers for final products to the micron level. In addition, the end-use section is broadly receiving this machine to create high-quality products in less time. The expanding pattern of computerization is empowering makers to mechanize different procedures including laser cutting.
Technology Outlook and Trend Analysis
Gas portion is evaluated to be the quickest developing section of the market. Increased interest for enhanced machining apparatuses and hardware is driving the selection of these lasers. They are broadly used in dye laser pumping, laser printing, and barcode reading and for making holograms. The strong state is foreseen to command the technology section attributable to the interest for these in low-power applications. Besides, the wide implementation of this technology in medical applications, for example, skin rejuvenation, dentistry, and endoscopy is enlarging the interest for the strong state over the conjecture time frame.
Process Outlook and Trend Analysis
The flame fragment is evaluated to overwhelm the market throughout the estimate time frame. The flame based process offers an enhanced finish, high cutting speed compared to other procedures, and high quality. The expanded demand for trimming small alloys of steel and carbon is expected to boost the income for the fire based process. Fusion portion is anticipated to develop at a considerable CAGR in the following years. This procedure is appropriate for cutting basic steel and electrical sheets in the generation and prototyping of electric engines.
Application Outlook and Trend Analysis
The industrial segment is evaluated to command the market in the following years. The development can be ascribed to the extending modern area in the creating nations around the world. The developing usage of these machines to clean shape and parts amid the assembling procedure is adding to the industrial segment development. Customer electronics is anticipated to be the quickest developing portion over the figure time frame. These lasers are used for welding and cutting in customer electronics and other consumer products.
Regional Outlook and Trend Analysis
North America is foreseen to be a major district, inferable from the existence of hearty industrial part. The district represented more than 31% income share in 2015 and is evaluated to develop significantly in the upcoming years. Asia Pacific is anticipated to be the quickest developing district inferable from the existence of strong economies, for example, China, India, and Japan. The expanding adoption of laser systems in the manufacturing part is boosting the regional development.
The leading players in the market are Trumpf India Pvt Ltd, MIYACHI CORPORATION, Jenoptik Laser GmbH, IPG Photonics, Rofin-Sinar and Kern Laser Systems. These players are engaged in research and development exercises to create products compliant with the regulatory standards mandated by the government authorities.
The Laser Cutting Machine Market is segmented as follows-
Defense and Aerospace
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?