NEW YORK , July 15, 2022 /PRNewswire/ -- The laser cutting machine market size is expected to grow by USD 1.25 billion from 2021 to 2026. However, the growth momentum is likely to decelerate at a CAGR of 4.91% as per the latest market report by Technavio. The increasing focus on automating the metal cutting process is one of the key drivers fueling the laser cutting machine market growth. Robots are used to enhance the laser cutting process. The application of robotics in the metalworking industry ranges from applications such as cutting, cleaning of various materials, marking, and drilling. An automated system enables the operation to be performed without the guidance of an operator and takes much less time compared with a manual cutter, besides the minimization of raw material wastage. The critical processes that require an expert operator are controlled and managed by computer numeric control (CNC) controls, eliminating possible errors and improving the overall consistency and efficiency. Advanced versions of CAM software can detect complex profiles of parts and materials to be cut and insert the required machine codes automatically. This helps modify the lead-out, lead-in, cutting speed, and gas mixture to increase the cut quality. The flexibility in the usage of automated solutions and the standardization of laser cutting machines have increased the demand for automated laser cutting machines among end-user industries. This, in turn, will drive the market growth during the forecast period.
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Laser Cutting Machine Market: Segmentation Assessment
The laser cutting machine market is segmented by end-user (automotive, aerospace and defense, electrical and electronics, industrial machinery, and others), product (fiber, solid-state, diode, and others), and geography (APAC, Europe , North America , South America , and the Middle East and Africa ).
The laser cutting machine market share growth in the automotive segment will be significant for revenue generation.
The automotive industry is the primary user of laser cutting machines, which are used to cut metal parts deployed in almost every system of automotive vehicles, ranging from fuel delivery systems to airbag components.
Technological advances, fueled by the implementation of stringent emission norms and the increasing demand for fuel efficiency, have boosted the demand for lightweight metal parts, such as aluminum and titanium, in passenger vehicles. Laser cutting machines are more efficient in cutting these lightweight metal parts than plasma metal cutting machines. Such factors will drive the market growth during the forecast period.
58% of the market's growth will originate from APAC during the forecast period.
China , South Korea , and Japan are the key markets for the laser cutting machine market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The presence of skilled labor will facilitate the laser cutting machine market growth in APAC over the forecast period.
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Laser Cutting Machine Market: Vendor Assessment
The laser cutting machine market is fragmented and the vendors are deploying growth strategies such as quality, price, service, brand image, distribution, and marketing to compete in the market.
Cangzhou Lead Laser Technology Co. Ltd.
Hans Laser Technology Industry Group Co. Ltd.
LZK CNC Machine Tool Anhui Manufacturing Co. Ltd.
Shenzhen Hymson Laser Intelligent Equipments Co. Ltd.
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Market share assessments for the regional and country-level segments
Strategic recommendations for the new entrants
Covers market data for 2020, 2021, until 2025
Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
Strategic recommendations in key business segments based on the market estimations
Competitive landscaping mapping the key common trends
Company profiling with detailed strategies, financials, and recent developments
Supply chain trends mapping the latest technological advancements
The elevator and escalator market share is expected to increase to 275.28 thousand units from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.37%.
The welding power supply market share is expected to increase to USD 2.47 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.12%.
Laser Cutting Machine Market Scope
Decelerate at a CAGR of 4.91%
APAC, Europe, North America, South America, and Middle East and Africa
US, China, South Korea, Japan, and Germany
Leading companies, competitive strategies, consumer engagement scope
ALPHA LASER GmbH, AMADA Co. Ltd., Bystronic Laser AG, Cangzhou Lead Laser Technology Co. Ltd., Chutian Laser, Coherent Inc., El.En. Spa, Hans Laser Technology Industry Group Co. Ltd., HGLaser Engineering Co. Ltd., IPG Photonics Corp., Jenoptik AG, Jinan Bond Laser Co., Koike Aronson Inc., LZK CNC Machine Tool Anhui Manufacturing Co. Ltd., Manz AG, Messer Cutting Systems GmbH, Mitsubishi Electric Corp., MKS Instruments Inc., PRIMA INDUSTRIE Spa, Salvagnini Italia Spa, Shenzhen Hymson Laser Intelligent Equipments Co. Ltd., Trotec Laser GmbH, TRUMPF GmbH Co. KG, Universal Laser Systems Inc., and Yamazaki Mazak Corp.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
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3.4 Market outlook: Forecast for 2021-2026
5.3 Automotive - Market size and forecast 2021-2026
5.4 Aerospace and defense - Market size and forecast 2021-2026
5.5 Electrical and electronics - Market size and forecast 2021-2026
5.6 Industrial machinery - Market size and forecast 2021-2026
5.7 Others - Market size and forecast 2021-2026
6.3 Fiber - Market size and forecast 2021-2026
6.4 Solid-state - Market size and forecast 2021-2026
6.5 Diode - Market size and forecast 2021-2026
6.6 Others - Market size and forecast 2021-2026
8.3 APAC - Market size and forecast 2021-2026
8.4 Europe - Market size and forecast 2021-2026
8.5 North America - Market size and forecast 2021-2026
8.6 South America - Market size and forecast 2021-2026
8.7 Middle East and Africa - Market size and forecast 2021-2026
8.8 China - Market size and forecast 2021-2026
8.9 US - Market size and forecast 2021-2026
8.10 South Korea - Market size and forecast 2021-2026
8.11 Germany - Market size and forecast 2021-2026
8.12 Japan - Market size and forecast 2021-2026
9.3 Impact of drivers and challenges
11.8 Hans Laser Technology Industry Group Co. Ltd.
12.3 Currency conversion rates for US$
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