New York, United States , July 18, 2024 (GLOBE NEWSWIRE) -- The Global Laser Cutting Machines Market Size is to Grow from USD 5.89 Billion in 2023 to USD 14.21 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 9.21% during the projected period.
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Laser-cutting machines are advanced devices that use a centered beam of light (laser) to cut, mark, or brand various materials with high precision. These machines send a powerful laser beam onto the material's surface. The laser's high intensity melts, burns, or vaporizes the material in a predetermined path set by the machine's software. Growing industrialization and government restrictions encourage and extend the usage of cutting machines in the automotive manufacturing sector. Laser cutting is a thermal separation method that allows for the efficient, fast, and precise cutting of a variety of materials without the need for reworking. One of the factors driving the market's growth is the current need for many sectors to reduce human participation and the role of machine tools, in addition to automating the metal cutting process for enhanced cutting precision and accuracy and minimized material waste. The evolution of fiber laser technology represents a significant advancement in the laser cutting machine industry. The rapid development of infrastructure, urbanization, and industrial automation are the key motives driving the rapid growth of the laser cutting machine market in developing countries. The market's growth is being driven by rising urbanization and infrastructure development, and also the desire to maintain cutting precision and prevent material waste. Furthermore, the availability of a large number of complicated components necessitates frequent maintenance, which could hamper the laser-cutting machines market growth in the short term.
Browse key industry insights spread across 200 pages with 90 Market data tables and figures & charts from the "Global Laser Cutting Machines Market Size, Share, and COVID-19 Impact Analysis, By Technology (Fiber Lasers, CO2, Solid State, and Others), By Function (Semi-Automatic and Robotic), By End-User (Automotive, Metal & Fabrication, Electronics, Energy & Power, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The fiber lasers segment is expected to hold the largest share of the laser cutting machines market during the projected timeframe.
Based on the technology, the laser cutting machines market is divided into fiber lasers, CO2, solid state, and others. Among these, the fiber lasers segment is expected to hold the largest share of the laser cutting machines market during the projected timeframe. Fiber lasers have become prevalent because of their outstanding effectiveness, precision, and versatility in cutting a variety of materials, including metals and nonmetals. Their appeal is further enhanced by the benefits of decreased maintenance costs and extended operational durations.
The robotic segment is predicted to grow at the fastest CAGR of the laser cutting machines market during the projected timeframe.
Based on the function, the laser cutting machines market is categorized into semi-automatic and robotic. Among these, the robotic segment is predicted to grow at the fastest CAGR of the laser cutting machines market during the projected timeframe. Because it works entirely on its own and produces the most output. Furthermore, robotic laser cutting machines are an integral part of manufacturing lines and bring in income for cutting machine producers.
The automotive segment dominated the market with the largest revenue share of the laser cutting machines market during the projected timeframe.
Based on the end-user, the laser cutting machines market is categorized into automotive, metal & fabrication, electronics, energy & power, and others. Among these, the automotive segment dominated the market with the largest revenue share of the laser cutting machines market during the projected timeframe. Laser-cutting machines are widely used in automotive and continuous manufacturing production lines because of their precision cuts, reduced production delays, and great productivity. The growing popularity of electric vehicles, and also the incorporation of innovative technologies into autos, are driving up demand for laser-cutting equipment in the automotive industry.
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Asia Pacific is expected to hold the largest share of the laser cutting machines market over the forecast period.
Asia Pacific is expected to hold the largest share of the laser cutting machines market over the forecast period. China, Japan, India, Vietnam, and South Korea, among others, have a significant manufacturing presence, which helps to drive the growth of the region. Consumer electronics and automotive manufacturers are going to increase their presence in the region, driving market growth. The laser-cutting industry is expanding due to a large customer base and significant automation, such as the integration of robotic lasers into automobiles. Furthermore, supporting government attempts to increase vehicle sales is expected to boost the region's laser-cutting machine market share in the future.
North America is predicted to grow at the fastest pace in the laser cutting machines market during the projected timeframe. North America is steadily developing due to rising demand for technologically advanced cutting machines that may increase production while lowering operating costs. Thus, innovations in full-axis control and computer numerically controlled machine integration are boosting up consumer demand for robotic lasers. Thus, innovations in full-axis control and computer numerically controlled machine integration are boosting up consumer demand for robotic lasers.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the laser cutting machines market include Coherent Inc., Messer, Amada, Epilog Lasers Inc., Mazak, DPSS Laser Inc., Mitsubishi, Universal Laser Systems, Inc., Gravotech Group, Kern Lasers System, LVD Company nv, Fanuc Corporation, IPG Photonics Corporation, Prima Power, and Others.
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Recent Developments
- In November 2023, Bystronic Laser AG announced the ByCut Star 3015, an efficient laser cutting machine with cutting heads in the "S" format.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the laser cutting machines market based on the below-mentioned segments:
Global Laser Cutting Machines Market, By Technology
- Fiber Lasers
- CO2
- Solid State
- Others
Global Laser Cutting Machines Market, By Function
- Semi-Automatic
- Robotic
Global Laser Cutting Machines Market, By End User
- Automotive
- Metal & Fabrication
- Electronics
- Energy & Power
- Others
Global Laser Cutting Machines Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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