Market Report Global Laser Cutting Machine Market
The market research report includes a detailed segmentation of the global laser cutting machine market by product type and by end-users.
Technavio’s research analyst predicts the global laser cutting machine market to grow steadily at a CAGR of close to 9 per cent until 2020. The market is expected to witness growth in revenues during the forecast period owing to the increasing use of these machines globally, and particularly in the APAC region.
Rapid industrialization in countries such as India and China along with other developing countries such as Brazil will further boost the demand for laser cutting machines over the next four years. Having found new application areas in the healthcare sector, laser cutting machines are being used for micro cutting applications. The other major application of laser cutting machines includes metal fabricators that make use of laser cutting machines to produce high-quality metal parts with less finishing works.
- CO2 laser cutting
- Fiber laser cutting
- Solid state laser cutting
Technavio analyst predicts that the CO2 laser cutting market will account for the highest revenue during 2015, further to which it will gradually decline during the forecast period due to over-acceptance of technologically advanced fiber laser cutting machines.
Segmentation by end-user
- Automotive sector
- Aerospace and defense sector
- Electrical and electronics sector
- Industrial machinery
The automotive sector accounted for nearly 19 per cent of the market share during 2015. In the automotive sector, innovations in laser cutting technology, especially high-power laser application have gained acceptance. This can be attributed to the stringent norms in this sector with regard to reliability and quality of beam sources.
APAC region emerged as the largest market for laser cutting machines in 2015. Due to growing industrial and economic development in the region, many domestic and international companies in the automotive, aerospace and defense, electrical equipment, industrial machinery, and other sectors are investing heavily in this region.
The global laser cutting machine market consists of many local and international players with very less product differentiation. Vendors are focusing more on adding technologically advanced and energy efficient products into their product portfolio. The market is highly competitive, and the competition is likely to intensify further with an increase in R&D innovations and after-sale services in the coming years. The key players in the market are expected to diversify their geographical presence with a focus on APAC during the forecast period.
The leading vendors in the market are:
- Rofin-Sinar Technologies
- Newport Corporation
- IPG Photonics
Other prominent vendors in the market include Alpha Laser, Bystronic, DPSS Laser, Prima Industries, Trotec Laser, Universal Laser Systems, and Xenetech Global.