Laser Cutting Machines Market Growth Analysis | 2023-2028

Market Insights

The laser cutting machines market is estimated to grow from USD 6.64 billion in 2022 to USD 10.42 billion by 2028 at a CAGR of 7.70% during the forecast period.

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What are laser cutting machines?

Laser cutting machines are precise equipment used in a variety of sectors to cut a variety of materials efficiently and accurately. They use laser technology to cut things including metal, wood, plastic, fabric, acrylic, and more precisely and cleanly.

The fundamental idea underlying laser cutting is to direct a strong laser beam onto the material's surface, melting, burning, or vaporizing it to produce a clean cut. A laser resonator, which produces the laser beam by stimulating a laser medium like carbon dioxide (CO2), neodymium-doped yttrium aluminum garnet (Nd: YAG), or fiber optics, produces a focused beam of light.

Compared to conventional cutting techniques, laser cutting machines have several benefits, including precision and accuracy, adaptability, speed and efficiency, non-contact process, complicated designs, customization, etc.

Market Dynamics

The laser cutting machines market is driven by a host of factors, some of which are noted below:

• Increasing automation in the manufacturing sector, as well as a surge in demand for laser cutting machines for high-quality production.
• Rapid industrialization and growing demand from emerging economies are expected to fuel market growth.
• As sales and production in the related markets for automotive, consumer electronics, and defense have expanded, so has the necessity for these machines to be used in manufacturing. 
• The shorter product lifespan also contributes to the phenomenon of rising sales. Machines are required to produce the goods that are in demand.
• In the upcoming years, there will likely be an increase in the demand for processing various materials, including wood, plastic, and metal. 
• The equipment manufacturers are seeking increased production, reduced downtime, and high operational cost-efficiency. 
• The increasing human-machine interaction offered by Industry 4.0 solutions is improving quality, production, and energy efficiency. 
• Also, the predictive analysis is luring the manufacturers to invest in industry 4.0 solutions as it significantly reduces the maintenance and replacement cost through early notification of the machine operation status.

Segment Analysis

By Technology Trends

The market is segmented into solid-state lasers, gas lasers, and semiconductor lasers. Solid-state laser technology occupied a market share of more than 40% in 2022 & is expected to be the dominant segment of the market during the forecast period.

Due to its increasing demand in medical applications such as endoscopy, dentistry, and skin rejuvenation. In addition, the quick cutting efficiency of solid-state laser cutting machines is expected to drive market growth over the forecast period.

By Process Trends

The market is segmented as fusion cutting, flame cutting, and sublimation cutting. Flame cutting process type held the largest market share of more than 40% in 2022 & is anticipated to account for the major market share during the forecast period owing to its huge demand in the metal-cutting industry.

In addition, the flame-cutting process provides high quality, improved finish, and excellent cutting speed. These features are expected to drive demand in the coming years.

By Application Type

The market is segmented as automotive, consumer electronics, defense and aerospace, industrial, and others. The industrial application segment accounted for the highest market share of more than 35% in 2022 & is estimated to account for the major share of the market during the forecast period on account of increasing industrialization in emerging economies.

Furthermore, the growing demand for laser-cutting machines in various manufacturing processes is expected to drive their demand during the forecasted period.

Region Analysis

Asia-Pacific region dominated the market with a share of more than 40% in 2022 & is expected to be the fastest-growing region in the market during the forecast period due to the presence of emerging economies such as China and India.

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Furthermore, rapid industrialization and the presence of key players are expected to drive market growth over the forecast period. North America and Europe are also expected to offer significant growth opportunities during the forecast period.

Segmentation

Laser cutting is a technology that uses a high-powered laser beam to either cleanly cut or etch a specific design on materials. It is a manufacturing process, which eliminates the need for manual machining and is used in a wide range of industries for precision cutting and designing projects.

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories.

By Technology Type:

• Solid State Lasers 
• Gas Lasers
• Semiconductor Lasers

By Process Type:

• Fusion Cutting 
• Flame Cutting
• Sublimation Cutting

By Application Type:

• Automotive
• Consumer Electronics
• Defense and Aerospace
• Industrial
• Others

Region Analysis:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Key Players

The following are some of the key players operating in the laser cutting machines market -

• Alpha Laser GmbH
• Amada Miyachi Co. Ltd
• Bystronic Inc.
• Coherent Inc.
• DPSS Laser Inc.
• Epilog Lasers Inc.
• Fanuc Corporation
• IPG Photonics Corporation
• Jenoptik Laser GmbH
• Rofin-Sinar Technologies Inc.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation by any one of the process types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.