What Factors Propelled The Growth Of The Laser Cutting Machine Market In The Past?
The laser cutting machine market has seen considerable growth due to a variety of factors.
• The market size of laser cutting machines has notably expanded over the past few years. The market is projected to escalate from $5.57 billion in 2024 to $6.16 billion in 2025, experiencing a compound annual growth rate (CAGR) of 10.5%.
This market surge in the historic period is due to the rise in demand for precision engineering solutions, advancements in the manufacturing of smaller machines, a transition to high-power lasers, an increasing role in electronics production, and the growing utilization within the aerospace and defense industries.
What Is the Forecasted Market Size and Growth Rate for The Laser Cutting Machine Market?
The laser cutting machine market is expected to maintain its strong growth trajectory in upcoming years.
• It is anticipated that the laser cutting machine market will undergo substantial growth in the upcoming years, expanding to $9.01 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 10.0%.
This predicted growth during the forecast period can be credited to the gravitation towards compact and multifunctional systems, precise engineering needs, market penetration in burgeoning economies, progress in material handling, and environmental sustainability. Key trends anticipated during this forecast period are the adoption of fiber laser technology, intensifying automation and integration, advancements in power and speed, broadening in industrial applications, and enhancements in customization and personalization.
What Are the Critical Driver Fuelling the Laser Cutting Machine Market's Growth?
The laser cutting machine marketplace is expected to see a surge due to the rising needs for vehicles. Factors like the growing demand for transport, a steady increase in income levels, and swift urbanization, among others, contributed to the escalating requirement for cars. Therefore, the growing demand for cars can correspondingly amplify the need for laser cutting machines, which are crucial in crafting precise designs and expediting the manufacturing of auto parts connected to cars. Laser cutting machines provide an efficient method for precision cutting and design work in automobile-related projects to create current designs. For example, in May 2023, the European Automobile Manufacturers Association (ACEA), a firm from Italy, representing major European car makers, announced that global motor vehicle production had hit 85.4 million units in 2022, increasing by 5.7% compared to 2021. This points to the surging demand for cars. As such, the increased demand in the automobile sector is enhancing the laser cutting machine market.
What Are The Main Segments Of The Global Laser Cutting Machine Market?
The laser cutting machine market covered in this report is segmented –
1) By Technology: Solid State, Gas, Semiconductor
2) By Process: Fusion Cutting, Flame Cutting, Sublimation Cutting
3) By End User Industry: Automotive, Consumer Electronics, Defense And Aerospace, Industrial, Other End User Industries
Subsegments:
1) By Solid State: Fiber Lasers, Disk Lasers, YAG Lasers (Yttrium Aluminum Garnet)
2) By Gas: CO2 Lasers, Excimer Lasers, Nitrogen Lasers
3) By Semiconductor: Diode Lasers, Quantum Dot Lasers, Vertical Cavity Surface-Emitting Lasers (VCSELs)
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What Emerging Trends Are Influencing The Growth Of The Laser Cutting Machine Market?
Top players in the laser cutting machine market are striving to innovate with superior machines, such as 3D fiber laser cutting machines, targeting steel processing to achieve a competitive market standing. A 3D fiber laser cutting machine employs a fiber laser oscillator, a feature that enhances accuracy while cutting diverse materials. As an example, in May 2022, Yamazaki Mazak, a renowned machine tool manufacturer from Japan, introduced the FG-400 NEO, a specialized 3D fiber laser cutting machine for steel items. Equipped with an energy-conscious fiber laser oscillator, it assures optimised productivity and precision in cutting materials, including steel, aluminum, brass, and copper. Moreover, the machine enables users to manage the diameter and shape of the laser beam, making it possible to cut a variety of thicknesses using a single device.
Who Are the Key Players in the Laser Cutting Machine Market?
Major companies operating in the laser cutting machine market include:
• Trumpf Laser GmbH + Co KG
• Coherent Inc.
• Amada Co Ltd.
• Jinan Golden Laser Co Ltd.
• Han's Laser Smart Equipment Group Co Ltd.
• IPG Photonics Corporation
• Prima North America Inc.
• Bystronic AG
• Jenoptik Laser GmbH
• Mazak Corporation
• Wuhan Raycus Fiber Laser Technology Co Ltd.
• Shenzhen Raycus Fiber Laser Technology Co Ltd.
• LVD Company NV
• Glorystar Laser Co Ltd.
• Maxphotonics Technology Co Ltd.
• Universal Laser Systems Inc.
• HG Laser Co Ltd.
• Epilog Laser
• MORN Laser
• Mitsubishi Laser Machinery Co Ltd.
• Trotec Laser GmbH
• GCC Laser
• Golden Laser Group Co Ltd.
• Dongguan Aowei Laser Technology Co Ltd.
• Reci Laser Technology Co Ltd.
• Raytech Laser Co Ltd.
• ACCURL Laser Technology Co Ltd.
• Sino-Stargle Laser Technology Co Ltd.
• Bodor Laser
What Is The Most Dominant Region In The Laser Cutting Machine Market?
North America was the largest region in the laser cutting machine market in 2024. Asia-Pacific is expected to be the fastest-growing region in the laser cutting machine market share during the forecast period. The regions covered in the laser cutting machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
