Laser Cutting Machines Market Size, Share, Growth Analysis, By Type(Solid - State Lasers, Gas Lasers and Semiconductor Lasers.), By Application(Automotive, Aerospace and Defense, Electronics and Electrical, Industrial Machinery), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20D2155 |
Region:
Global |
Published Date: March, 2024
Pages:
202
|Tables:
65
|Figures:
75
Laser Cutting Machines Market Insights
Global Laser Cutting Machines Market size was valued at USD 6.83 billion in 2022 and is poised to grow from USD 7.21 billion in 2023 to USD 11.06 billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).
Over the foreseeable future, the laser-cutting machine industry is poised to experience substantial growth, primarily driven by the increasing trend of automation in the manufacturing sector and the surging demand from various end-use industries. Sectors like automotive, electronics, packaging, pharmaceuticals, HVAC, and more are progressively integrating automated laser cutting machines into their operations to produce high-quality products efficiently. With the growing emphasis on automation, manufacturers are automating various processes, including laser cutting, to achieve precision and uniformity in production while reducing downtime and energy consumption. This automation trend is a significant catalyst for expanding the laser-cutting machine market.
The adoption of Industry 4.0 technologies, including automation, data analytics, and the Internet of Things (IoT), is another driving force behind the growth of the laser-cutting machine market. These technologies enable real-time data exchange, allowing operators to monitor and optimize production processes, thus maximizing the efficiency of laser-cutting machinery. Manufacturers are keen on enhancing cost-efficiency, minimizing downtime, and boosting production, and Industry 4.0 solutions are instrumental in achieving these goals.
Furthermore, the increased human-machine interaction facilitated by Industry 4.0 solutions elevates quality, productivity, and energy efficiency. Predictive analysis offers early notifications about machine operation status, prompting manufacturers to invest in Industry 4.0 solutions to reduce maintenance and replacement costs significantly. This, in turn, is expected to propel market growth.
Introducing fiber laser cutting technology is another contributing factor to expanding the laser cutting machine market. Fiber laser cutting devices are widely employed in macro-processing applications, providing millimeter-level precision in cutting and welding industrial metals. Given the strong demand for laser equipment, particularly in macro processing, fiber lasers are preferred due to their precise, high-quality cuts and suitability for shaping structural steel. Additionally, they are characterized by their ergonomic design, quick operation, and high-power safety features. Many of these machines utilize pre-focused optical systems with suitable deflection lenses, enhancing focus accuracy, laser light transmission, and overall machine performance. Consequently, the emergence of these new cutting technologies is driving market growth.
However, it's important to note that the high cost associated with laser-cutting machinery and its substantial power consumption presents a significant challenge to market growth. Components like water tubes, laser generators, and laser lenses contribute to the machinery's high cost, and ongoing maintenance expenses further add to the overall cost burden. Additionally, cutting certain materials, such as Polytetrafluoroethylene and certain metals, at high temperatures can release harmful gases like phosgene gas, posing another constraint to the industry's growth.
US Laser Cutting Machines Market is poised to grow at a sustainable CAGR for the next forecast year
Market snapshot
Global Market Size
Largest Segment
Solid - state Lasers
Fastest Growth
Solid - state Lasers
Growth Rate
ong>US Laser Cutting Machines Market is poised to CAGR
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Laser Cutting Machines Market Segmental Analysis
The global laser cutting machines market is segmented by type, biomaterial, and region. Based on type, the market is segmented into fiber lasers, CO2 lasers, and others. Based on biomaterial, the market is segmented into automotive, aerospace, electronics, and others. Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis By type
The largest segment, reigning with distinction, is the fiber lasers category. Renowned for their superior performance, fiber lasers have swiftly become the technology of choice for precision cutting biomaterials. With their remarkable ability to deliver high power output, exceptional beam quality, and efficient energy utilization, fiber lasers captivate manufacturers seeking high precision and productivity.
Meanwhile, the fastest-growing segment emerges as the CO2 lasers category, ushering in a new era of innovation and potential. As manufacturers increasingly recognize the advantages of CO2 lasers, such as ease of use, lower maintenance costs, and compatibility with diverse materials, this segment accelerates with unstoppable momentum, promising a radiant future of growth and expansion.
Analysis By Biomaterial
The largest segment, reigning supreme, is the automotive sector. This segment has witnessed a soaring demand for laser cutting machines, owing to the automotive industry's insatiable appetite for precision and efficiency. As the automotive industry continues to push the boundaries of innovation and performance, the demand for laser cutting machines in this segment shows no signs of slowing down.
Meanwhile, the fastest-growing segment captures the essence of the electronics industry, where laser cutting machines have sparked a revolution in precision manufacturing. With the relentless pace of technological advancements in consumer electronics, such as smartphones, tablets, and wearables, the need for intricate and miniaturized components is at an all-time high. As consumers worldwide embrace the latest gadgets, the demand for laser cutting machines in the electronics segment continues to surge, signifying a radiant future of growth and innovation.
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Laser Cutting Machines Market Regional Insights
In the ever-evolving landscape of the global laser cutting machines market , two regions stand tall, each carving a unique path to success. North America emerges as the dominating force, casting its influence far and wide with its advanced technology, robust industrial infrastructure, and high demand for precision manufacturing. The United States, in particular, commands a lion's share of the market, bolstered by its automotive, aerospace, and electronics industries that drive the need for cutting-edge laser cutting machines. As businesses in North America continually seek efficiency and innovation, the region's dominance in the global laser cutting machines market remains unyielding.
Meanwhile, the fastest-growing region comes from the vibrant continent of Asia-Pacific, where a radiant wave of progress propels the market to new heights. Countries like China, India, Japan, and South Korea are spearheading this growth, driven by their burgeoning automotive, electronics, and aerospace sectors. The relentless pursuit of technological advancements, coupled with a rising demand for high-precision manufacturing, has fueled the adoption of laser cutting machines in the region. As Asia-Pacific emerges as a global manufacturing hub, the demand for these machines shows no signs of slowing down, making it the fastest-growing region in the global laser cutting machines market .
- Largest
- Fastest
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Laser Cutting Machines Market Dynamics
Drivers
Increasing Demand for High Precision and Efficiency
- The growing need for precision cutting in various industries, such as automotive, aerospace, and electronics, is driving the adoption of laser cutting machines. These machines offer high accuracy, speed, and efficiency, enabling manufacturers to achieve intricate designs and complex shapes.
Growing Demand for Customization
- The rise in consumer demand for customized products has led manufacturers to seek versatile cutting solutions. Laser cutting machines provide flexibility in cutting various materials, allowing businesses to cater to individual customer preferences, thereby driving market growth.
Restraints
High Initial Investment
- Laser cutting machines come with a significant upfront cost, which can be a deterrent for small and medium-sized businesses. The initial investment in these machines may limit their adoption, particularly in price-sensitive markets.
Environmental Regulations
- The laser cutting process can produce hazardous fumes and emissions, leading to environmental concerns. Compliance with strict environmental regulations may pose challenges for manufacturers, affecting the adoption of laser cutting machines in some regions.
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Laser Cutting Machines Market Competitive Landscape
Technological advancements play a crucial role in shaping the competitive landscape of the laser cutting machines market. Market players focus on developing advanced laser cutting machines that offer higher precision, faster cutting speeds, improved energy efficiency, and enhanced automation capabilities. These technological advancements help companies meet the evolving demands of various end-user industries and gain a competitive advantage. Product innovation is another key factor driving competition in the laser cutting machines market. Companies invest in research and development activities to introduce innovative features and functionalities in their machines. This includes the integration of advanced control systems, software solutions, and compatibility with different materials and thicknesses. Product differentiation through innovation allows companies to cater to diverse customer requirements and gain a competitive edge in the market.
Top Player’s Company Profiles
- Mazak Optonics Corporation (US)
- Prima Power (Italy)
- Coherent, Inc. (US)
- Han's Laser Technology Industry Group Co., Ltd. (China)
- IPG Photonics Corporation (US)
- Jenoptik AG (Germany)
- LVD Company nv (Belgium)
- CTR Lasers (UK)
- Trotec Laser GmbH (Austria)
- Mitsubishi Electric Corporation (Japan)
- Universal Laser Systems, Inc. (US)
- Epilog Laser (US)
- Gravotech Group (France)
- Kern Laser Systems (US)
- Eurolaser GmbH (Germany)
- Laserstar Technologies Corporation (US)
- Coherent-ROFIN (US)
Recent Developments
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TRUMPF intended to introduce a punch-laser machine for linked production that is completely automated in October 2023.
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A strategic collaboration agreement was signed in October 2023 between Shanghai Zhenhua Heavy Industries Group Co., Ltd. and HGTECH.
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Two tube laser cutting machines with a single focus were installed to the metal fabrication shop on July 18, 2023.
- In March 2023, Trumpf announced the launch of its new TruLaser Cell 7030 fibre laser cutting machine. The machine is designed for high-precision cutting of sheet metal up to 3 metres in length.
- In February 2023, Mazak introduced its new Mazak Optonics 5-axis Fiber Laser Cutting Center. The machine is designed for high-speed cutting of a wide variety of materials, including metal, plastic, and wood.
Laser Cutting Machines Key Market Trends
- Efficiency and Preciseness: The increasing demand for fibre laser cutting machines is a key market trend in the global laser cutting machines market. Fibre laser cutting machines are more efficient and precise than CO2 laser cutting machines, and they are also more cost-effective. This is driving the demand for fibre laser cutting machines in a variety of industries, including the automotive, aerospace, and electronics industries. In addition to the increasing demand for fibre laser cutting machines, other key market trends in the global laser cutting machines market include the growing demand for customised products, the increasing adoption of automation, and the growing importance of sustainability. These trends are all expected to contribute to the growth of the global laser cutting machines market in the coming years.
Laser Cutting Machines Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global laser cutting machines market analysis, it is experiencing significant growth due to various factors. One of the primary drivers is the increasing demand for precision cutting and high-quality finished products across industries such as automotive, aerospace, electronics, and metal fabrication. Laser cutting machines provide unparalleled accuracy, speed, and versatility, making them indispensable in these sectors. Fibre lasers offer higher cutting speeds, greater energy efficiency, and low maintenance requirements, making them a preferred choice for manufacturers. The report also identifies some challenges that the laser cutting machines market faces. These challenges include the high initial cost of laser cutting machines, especially for small and medium-sized enterprises. Additionally, the market is affected by the availability of skilled technicians who can operate and maintain these sophisticated machines.
| Report Metric | Details |
|---|---|
| Growth Rate | ong>US Laser Cutting Machines Market is poised to grow at a sustainable CAGR for the next forecast year % |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Laser Cutting Machines Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Laser Cutting Machines Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Laser Cutting Machines Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Laser Cutting Machines Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Laser Cutting Machines Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Laser Cutting Machines Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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