Laser cutting machine is a technology that
uses lasers such as solid state lasers, CO2 and fiber to cut materials. It is
capable to cut materials ranging from steel to plastic with absolute precision.
It is an essential machinery tool required by industries to manufacture the
components with composite geometry for instance automotive industry, machine
tool industry and other manufacturing industries.
According to study, “Global
Laser Cutting Machine Market 2019 by Manufacturers, Regions, Type and
Application, Forecast to 2024” the key companies operating in the global laser
cutting machine market are Trumpf GmbH Co., Bystronic, Han'S Laser, Mitsubishi
Electric, Mazak, Prima Power, Amada, DMG MORI, Coherent Inc., Unity Laser, HG
Laser, Universal Laser Systems, Koike, Cincinnati, Conzzeta Management AG, Tianqi Laser, IPG
Photonics Corp., LVD, Epilog Laser, Tanaka, CTR Lasers, Penta-Chutian,
Spartanics, Lead Laser, Microlution, Trotec, Kaitian Laser, GF, HE Laser, Boye
Laser, Golden Laser. Key vendors are progressively adopting digitalization in
their manufacturing processes to remain competitive. Digitalization will allow
end-users to enhance flexibility, increase return on investment (ROI), minimize
waste, and reduce inventories and time-to-market. It will also help in
confirming the effective maintenance & replacement of worn-out parts.
Hence, market vendors are concentrating on connecting laser cutting machines to
a communication network and using Internet of Things (IoT) to provide complete
integration across the production line. Moreover, the adoption of blockchain
will also help in forming a robust digital supply chain and minimize the
overall cost across the supply chain.
Based on technology, laser cutting machine
market is segmented into gas lasers, solid-state lasers, and semi-conductor
lasers. Solid state lasers are used for medical applications. Diode-pumped
solid-state lasers gives a superior beam quality and an ever-increasing degree
of processing flexibility. Based on process, market is segmented into flame
cutting, fusion cutting, and sublimation cutting. In addition, based on
end-user, market is segmented into automotive, defense & aerospace,
consumer electronics, industrial and others. Automotive sectors dominates the
market owing to change in consumer lifestyle, rise in demand for automobiles
and increase in consumer income. Additionally, defense & aerospace segment
is anticipated to exhibit higher growth rate due to increase in space research
project during the forecast period.
The laser cutting machine market is driven by
growth in developments & innovations in the field of technology, followed
by rise in digitalization in manufacturing processes, increase in consumer
preference for better advanced vehicles & several metal cutting machines,
rise in sales of consumer electronics and high demand from end-user industries.
However, availability of substitute machinery and large expenditure on research
& development (R&D) may impact the market. Moreover, growth in
aerospace manufacturing is a key opportunity for market.
Based on geography, the North-American region
holds major share in laser cutting machine market owing to rise in demand for
automobile and strong development in the industrial sectors in the region. The
Asian-Pacific region is expected to witness higher growth rate due to change in
lifestyle and rapid pace of industrialization in emerging economies over the
forecast period. In near future, it is expected that the market will be reached
at quick speed as a result of rise in focus on automating metal cutting
process, emergence of local players that provide low-cost laser cutting
machines, and presence of skilled labor during the forecast period.
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