Laser cutting refers to a technology that uses a laser to cut materials such as wood, steel, metal, and plastic. It emits a high-power laser beam to cut and etch a specific design on materials. The beam helps to burn, vaporize, or melt the material, which results in a superior finished design or edge. Laser cutting machine consists of a setting known as Computer Numeric Control (CNC) and laser optics, which manages, directs, and controls laser beam intensity for the specific cuts required in a manufacturing or design project. This tool is used in a wide range of industries for precision cutting and designing projects, which are generally used for industrial manufacturing.
The major factors contributing to the growth of the Global Laser Cutting Machine market include the growing demand for high-quality products and the increasing adoption of automation in the manufacturing sector. Rising demand from end-user industries such as automotive, consumer electronics, and aerospace & defense is further expected to accelerate the demand for laser cutting machines during the forecast period to deliver high-quality products in nominal time. With the rapid digitalization and globalization in the manufacturing industries, laser cutting machine trend is gaining a traction in the market. Vendors in the laser cutting machine market are widely adopting digitalization for their manufacturing processes to remain competitive as it improves flexibility, reduce waste, and lessen inventories, and enhance ROI. The manufacturers are heavily investing in laser cutting automation to minimize machine downtime. However, the high power consumption of the laser cutting machines is restraining the growth of the market.
Based on the technology, the gas lasers segment is expected to grow at a higher CAGR during the forecast period owing to the growing demand for enhanced machining tools and equipments driven by the increasing adoption of gas lasers. Gas lasers are widely used in barcode reaching, laser printing, and dye laser pumping.
Based on the process, the flame segment is anticipated to lead the market during the forecast period as it provides enhanced finish, high cutting speed, and high quality as compared to other processes. The fusion segment is expected to grow at a higher CAGR during the forecast period owing to its high flexibility, and high suitability in the production and prototyping of electric motors for cutting structural steel and electrical sheets.
Based on the application, the industrial sector is projected to grow at a higher CAGR during the forecast period owing to the rapid growth in the industrial sector across the developing countries and the rising usage of laser cutting machines in the manufacturing process to clean parts and molds.
Based on the region, Asia-pacific is projected to grow at a higher CAGR in the Global Laser Cutting Machine market during the forecast period owing to the growing industrialization and presence of robust economies such as China, Japan, and India. The growing adoption of laser cutting technology in the manufacturing sector and its increasing application such as in semi-conductor, automotive component, and consumer electronics is further fuelling the growth of the market in this region.
The major key players in the market include Alpha Laser GmbH, Amada Miyachi Co. Ltd, Bystronic Inc., Coherent Inc., DPSS Laser Inc., Epilog Laser, Fanuc Corporation, IPG Photonics Corporation, Jenoptik Laser GmbH, and Kern Lasers System, among others.
The Global Laser Cutting Machine market has been segmented based on the Technology, Process, Application, and region. Based on Technology, the market is segmented into Solid State Lasers, Gas Lasers, and Semiconductor Lasers. Based on Process, the market is segmented into Fusion Cutting, Flame Cutting, and Sublimation Cutting. Based on the application, the market is segmented into Automotive, Consumer electronics, Defense and aerospace, Industrial, and Others.
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