Laser Cutting Machine Market is Expected to Experience Immense Growth
Laser cutting is a technology that uses lasers such as CO2, solid-state, and fiber to cut materials. Laser cutting machines are capable to cut materials ranging from steel to plastic with absolute precision. It is an important manufacturing tool required by industries to manufacture components with complex geometry, such as the machine tool industry, automotive industry, consumer electronics, and other manufacturing industries.
Over the past decades, the laser cutting industry has gone through different phases of improvements in quality and thickness of cutting material, power, and efficiency which bring today’s laser cutting machines with the higher cutting speed and quality level, the ability to cut thin and thick metals, and the user’s need to process both steel and aluminum on the same equipment.
The drastic advancement in technology and the arrival of sophisticated equipment made laser cutting machines find their application in the healthcare sector too. The areas of the sector which required micro-cutting equipment are incorporated with laser-cutting machines now. Apart from these, another prominent niches where laser cutting machines are used are metal fabricators, in which laser cutting machines play a prominent role to produce superior quality metal parts with minute finishing works.
With the arrival of laser cutting machines, even complicated spatial components such as hot-shaped sheets, vehicle bodies, and tubes can be cut with precision and accuracy. The fitness equipment manufacturers use this technology for producing the desired complex shapes within a short time and also with the perfect finish.
With these advancements, conventional cutting machines are getting replaced with laser cutting machines with high beam quality systems that can operate automatically across various commercial and industrial sectors.
A key growth driver of the market is expected to be the rapid industrialization and increasing demand for laser cutting machines from developing economies such as India, South Korea, China, South Africa, and Brazil, which will further fuel the demand for laser cutting machines over the forecast period. Demand for laser cutting machines is rapidly increasing, owing to the increasing number and scope of its usage across a number of end-use applications, in which different types of laser cutting processes can be used.
The stable growth of the automobile industry is one of the primary factors which is driving the global laser cutting machine market. Production capabilities of automobiles have witnessed a substantial increase in the past decade in Asian countries such as China and India.
Increasing requirements of precise and accurate shapes in the Aerospace and defense sector, the Electrical and electronics sector, and Industrial machinery is further expected to drive demand for laser cutting machines in near future. Availability of such machines at a premium price acts as a minor restraint towards its rapid adoption in small and medium scale enterprises across the globe.
The recent introduction of industrialized fiber and disc lasers represents a major technology shift in solid-state laser processing, which is expected to be the emerging trend in the global laser cutting machines market over the forecast period.
Global Laser Cutting Machine Market Segmentation
Global laser cutting machine market can be segmented on the basis of laser types, applications, and processes.
On the basis of laser types, the global laser cutting machine market is segmented as:
- CO2 lasers
- Solid-state lasers
- Others (fiber lasers and disc lasers)
On the basis of application, the laser cutting machine market can be segmented as:
- Automotive and Transportation
- Consumer Electronics & Appliances
- Other Manufacturing
On the basis of process, the laser cutting machine market can be segmented as:
- Flame cutting
- Fusion cutting
- Sublimation cutting
The Original Posted by Persistence Market Research