The global laser
cutting machines market is expected to reach USD 6.72 billion by
2024, according to a new report by Grand View Research, Inc. Increasing use of
fiber, CO2 and Yttrium Aluminum Garnet (YAG) lasers in the cutting applications
such as consumer electronics and industrial sectors is expected to augment the
demand for the laser cutting machines market.
Consumer electronics is anticipated to be the
fastest-growing sector owing to the rising implementation of lasers in material
processing applications such as cutting, welding, and engraving. Moreover, the
need for high power input and efficiency-based cutters are driving the demand
for laser cutting machines over the forecast period.
Developments of novel process lasers to optimize the
production of customized three-dimensional glass components and a shift from
conventional semiconductor lasers to quantum cascade lasers are expected to
increase the demand for these machines. Continuous technological advancements
in the laser technology are enabling manufacturers to invest in research and
development to gain a competitive advantage. Moreover, the end-use industry is
replacing the conventional cutting technology with laser cutting owing to the
demand for high-speed cutting and drilling.
Browse full research report on Laser Cutting Machine Market: https://www.grandviewresearch.com/industry-analysis/laser-cutting-machine-market
Further
key findings from the study suggest:
- Gas lasers are estimated to grow at a CAGR of over 9.4% from 2016
to 2024. These lasers have an increasing demand for improved machine tools
and equipment in making holograms, dye laser pumping, barcode reading, and
laser printing.
- The fusion cutting process is estimated to be the fastest-growing
segment at a CAGR of over 9.4% from 2016 to 2024. Fusion cutting offers
the benefit of producing a virtually oxide-free cutting edge suitable for
thin sheets cutting.
- The industrial sector is expected to dominate the market over the
forecast period. The growing trend of automation in the manufacturing
process is increasing the demand for laser cutting machines. These
machines precisely cut parts and patterns at high speeds with consistent
results.
- The Asia Pacific laser cutting machines industry is expected to
remain the largest market owing to the rising GDP and rapid expansion of
the regional manufacturing sector. Moreover, the regional growth is strong
in industries that use laser cutting to produce semiconductors, consumer
electronics, and automotive components. As these sectors are expanding,
the need for laser cutting machines in this region is also increasing.
- Key players in the laser cutting machines market include Trumpf
Laser GmbH + Co. KG, IPG Photonics Corporation, Coherent Inc., and
Rofin-Sinar Technologies Inc. The market is highly competitive owing to
the presence of numerous manufacturers' incorporating innovative
technologies to offer product differentiation.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/semiconductors
Grand
View Research has segmented the laser cutting machines market on the basis of
technology, process, application, and region:
Laser
Cutting Machines Technology Outlook (Revenue, USD Billion; 2015 - 2024)
- Solid State
Lasers
- Gas Lasers
- Semiconductor
Lasers
Laser
Cutting Machines Process Outlook (Revenue, USD Billion; 2015 - 2024)
- Fusion
Cutting
- Flame Cutting
- Sublimation
Cutting
Laser
Cutting Machines Application Outlook (Revenue, USD Billion; 2015 - 2024)
- Automotive
- Consumer
Electronics
- Defense and
Aerospace
- Industrial
- Others
Laser
Cutting Machines Regional Outlook (Revenue, USD Billion; 2015 - 2024)
- North America
- Europe
- Asia Pacific
- RoW
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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