Laser Cutting Machines Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Albany, NY -- (SBWIRE) -- 06/12/2017 -- The laser cutting machines market features a fairly competitive landscape with the presence of several regional and global players, observes Transparency Market Research (TMR). Some of the major companies operating in the market are DPSS Lasers Inc., IPG Photonics, Trumpf Laser GMBH + Co. Kg, Coherent, Inc., ALPHA Laser GmbH, Bystronic Incorporation, and Amada Miyachi America, Inc. Several manufacturers are actively investing in machine innovations and advanced production technologies, especially for fiber lasers. Leading players are making substantial research spending in developing machines with enhanced cutting precision and at lower cost, in order to gain a competitive edge over others.
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The market for laser cutting machines is projected to rise at a CAGR of 10.3% during 2014–2020. Expanding at this rate, the opportunities in the market is anticipated to reach US$4.37 bn in 2020.
Asia Pacific to Provide Lucrative Growth Avenues
The major end-use industries of laser cutting machines are consumer electronics, defense and aerospace, automotive, and industrial. Of these, the industrial end-use segment held the major share in the market. Meanwhile, the consumer electronics segment is projected to witness impressive growth over the forecast period. The stellar growth in the segment is attributed to the growing adoption of high-precision and economically-viable manufacturing processes in making a variety of electronic goods.
Geographically, currently North America is a dominant market and is expected to maintain its lead throughout the forecast period. The substantial growth of the regional market is attributed to the growing prominence of laser cutting machines in cutting industrial metals. Meanwhile, Asia Pacific is expected to be the fastest growing regional market over the forecast period.
Growing Prominence of Solid State Lasers Create Exciting Opportunities
The laser cutting machines market is primarily driven by the growing demand for high-precision cutting macines in the automotive sector and the consumer electronics industry. A burgeoning automotive sector in various regions is expected to catalyze the market growth. The growing demand for aesthetic designs in a variety of consumer products is a key factor boosting the market. In addition, constant advances in laser technology, such as in beam delivery techniques, have significantly expanded the application of laser cutting machines in making smartphones, microprocessors, and display panels. Furthermore, the emerging demand for ultra-fast laser cutting machines in making miniaturized electronic components, such as memory chips, is expected to fuel the market in the coming years.
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The growing application of advanced laser cutting machines in manufacturing personal computers and home entertainment systems is expected to accentuate the market. However, the high cost of sophisticated laser cutting machines used in electronics manufacturing is likely to hinder the market to an extent. Nevertheless, the growing prominence of solid state lasers is mainly attributed to the demand for high-quality laser processing in various industrial applications, which is expected to create abundant opportunities for market players. Sometimes, solid state lasers in laser cutting machines enable users to make a flexible beam guidance. Furthermore, recent innovations in fiber laser cutting machines have opened up lucrative avenues for market layers to capitalize on.
The study presented here is based on a report by Transparency Market Research (TMR) titled, "Laser Cutting Machines Market (Technology - Solid State Lasers, Gas Lasers, and Semiconductor Lasers; Process - Fusion Cutting, Flame Cutting, and Sublimation Cutting; End-Use Industry - Automotive, Consumer Electronics, Defense and Aerospace, and Industrial) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020."