Global Laser Cutting Machine market to grow at a CAGR of 9.20% over the period 2014-2019
Deerfield Beach, FL -- (SBWIRE) -- 08/21/2015 -- Global Laser Cutting Machine market to grow at a CAGR of 9.20% over the period 2014-2019. Laser cutting machines provide an effective and efficient process to manufacture components with complex geometry. These machines help manufacturers to intricately cut materials ranging from steel to plastics with precision. This helps manufacturers develop products with unmatched versatility. Laser cutting machines are equipped with high-power lasers that can vaporize materials, thereby eliminating the need for tool-based machining. Because of such advantages, the adoption of laser cutting machines has increased among companies across industries such as Automotive, Aerospace and Defense, Electric and Electronic, Industrial Machinery, Healthcare, Plastics, Textiles, and Wood Working.
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Aggressive marketing in developing countries declaring the benefits of laser cutting machines in the manufacturing sector has created awareness and in turn increased demand for these machines. Several global laser cutting machine vendors are setting up demonstration centers and exhibitions in the region to increase their market reach.
Laser cutting machines are used by companies across industries such as automotive, aerospace and defense, electrical and electronics, industrial machinery, medical device, and energy to increase the ease and efficiency of high-precision product development. Moreover, because of globalization, there is increased demand among customers for products that are accurate to the micron level and companies worldwide are increasingly adopting laser cutting machines to develop high-quality products in minimal time. Rapid industrialization in developing nations such as Brazil, India, and China is boosting the demand for laser cutting machines.
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Covered in this Report
The Global Laser Cutting Machine market can be segmented into four segment: CO2, Fiber, Solid State, and Others Laser. These are different technology laser cutting machines used to cut work pieces of different specifications and materials.
Global Laser Cutting Machine market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, the APAC region and the EMEA region; it also covers the Global Laser Cutting Machine market landscape and its growth prospects in the coming years. The report also includes a discussion on the key vendors operating in this market.
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"Increased adoption of laser cutting machines worldwide has led to stiff competition among vendors in the Global Laser Cutting Machine market, which in turn has resulted in a reduction in the overall price of products,".
"The presence of a large number of vendors has also forced them to adopt the pricing strategy of reducing cost to gain market share."
To define the market conditions in the next 3-4 years, Our analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.