Laser Cutting Machine Market to Grow by USD 1.45 Billion (2024-2028) as Automation in Metal Cutting Increases, with AI Driving Market Transformation- Technavio

Oct 19, 2024

Oct 16, 2024, 17:12 ET

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NEW YORK, Oct. 16, 2024 /PRNewswire/ -- Report with the AI impact on market trends - The Global Laser Cutting Machine Market size is estimated to grow by USD 1.45 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 5.6% during the forecast period. Increasing focus on automating metal cutting process is driving market growth, with a trend towards rising digitalization in manufacturing processes. However, availability of alternate machine tools for metal cutting applications poses a challenge - Key market players include ALPHA LASER GmbH, Amada Co. Ltd., Bystronic Laser AG, Cangzhou Lead Laser Technology Co. Ltd., Coherent Corp., El.En. S.p.A., Hans Laser Technology Industry Group Co. Ltd., HGLaser Engineering Co. Ltd., IPG Photonics Corp., Jenoptik AG, Koike Aronson Inc., Manz AG, Messer Cutting Systems GmbH, Mitsubishi Electric Corp., MKS Instruments Inc., Salvagnini Italia Spa, Shenzhen Hymson Laser Intelligent Equipments Co. Ltd., Trotec Laser GmbH, TRUMPF SE Co. KG, and Universal Laser Systems Inc..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 - 2022

Segment Covered

End-user (Automotive, Aerospace and defense, Electrical and electronics, Industrial machinery, and Others), Product (Fiber, Solid-state, Diode, and Others), and Geography (APAC, Europe, North America, South America, and Middle East and Africa)

Region Covered

APAC, Europe, North America, South America, and Middle East and Africa

Key companies profiled

ALPHA LASER GmbH, Amada Co. Ltd., Bystronic Laser AG, Cangzhou Lead Laser Technology Co. Ltd., Coherent Corp., El.En. S.p.A., Hans Laser Technology Industry Group Co. Ltd., HGLaser Engineering Co. Ltd., IPG Photonics Corp., Jenoptik AG, Koike Aronson Inc., Manz AG, Messer Cutting Systems GmbH, Mitsubishi Electric Corp., MKS Instruments Inc., Salvagnini Italia Spa, Shenzhen Hymson Laser Intelligent Equipments Co. Ltd., Trotec Laser GmbH, TRUMPF SE Co. KG, and Universal Laser Systems Inc.

Key Market Trends Fueling Growth

In the laser cutting industry, digitalization and the industrial Internet of Things (IoT) are driving innovation and competitiveness on a global scale. IoT, which extends beyond traditional devices to include industrial machinery like motors, drives, and sensors, enables real-time connectivity and optimization. Vendors are focusing on automation and complete integration across production lines using IoT to reduce maintenance requirements and improve efficiency. InHand Networks, a provider of industrial IoT systems, offers remote monitoring solutions like the InRouter900 for laser cutting machines, allowing operators to access programmable logic controllers and human-machine interfaces from a distance. Blockchain technology is also being explored to create secure digital supply chains, ensuring product and equipment tracking, swift manufacturing processes, and overall cost reduction, positively impacting the growth of the global laser cutting machine market.

The Laser Cutting Machine market is experiencing significant growth due to the trend towards advanced manufacturing tools and automated cutting processes. This automation leads to reduced material wastage and increased industrialization. The demand for laser cutting machines is driven by various sectors, including electric vehicles, consumer electronics, HVAC, and defense and aerospace. Fiber lasers and robotic segments are currently leading the market, with CNC technology and IoT integration also gaining popularity. High initial costs and maintenance challenges are challenges for businesses considering investment in laser cutting machines. However, the benefits of operational efficiency, high-quality cuts, and customized products outweigh these challenges. Demand for steel and various manufacturing applications also contribute to the market's growth. After-sales services and segmentation analysis are crucial for businesses looking to maximize their investment. Key demand drivers include automation, eCommerce, sustainability, and data analytics. Fiber-based technology, mechanized operation, smart technology, and solid-state lasers are also driving the market forward. The market is segmented into various types, including fiber lasers, gas lasers, and semiconductor lasers. Applications include macro-processing, sublimation cutting, fusion cutting, and flame cutting. The market is expected to continue growing, with innovation in technology and product development being key factors.

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Segment Overview

This laser cutting machine market report extensively covers market segmentation by

1.1 Automotive- The Laser Cutting Machine market is experiencing significant growth due to increasing demand from various industries such as automotive, construction, and packaging. These machines offer advantages like high precision, flexibility, and efficiency, making them a preferred choice for manufacturing processes. Key players in the market include Trumpf, Epilog Laser, and Trotec Laser. Market growth is driven by factors like technological advancements and rising demand for customized products.

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Research Analysis

The Laser Cutting Machine Market is experiencing significant growth due to the increasing adoption of advanced manufacturing tools and automated cutting processes in various industries. This market is driven by the need for material wastage reduction, industrialization, and the integration of IoT and smart technology. The production of electric vehicles is also contributing to the demand for laser cutting machines, as they enable high operational efficiency and customized products. However, the high initial costs and investment required for these machines pose an economic burden for some businesses. The market is segmented into fiber lasers, CNC technology, and the robotic segment, with fiber-based technology and mechanized operation being key trends. The market is expected to grow further with the increasing demand for advanced laser processing in consumer electronics, eCommerce, and sustainability initiatives.

Market Research Overview

The Laser Cutting Machine Market is witnessing significant growth due to the adoption of advanced manufacturing tools and automated cutting processes. This technology offers material wastage reduction, which is essential for industrialization. The increasing demand for electric vehicles and the economic burden of traditional manufacturing methods are driving the market. The market segmentation includes fiber lasers, CNC technology, and robotic segment. Fiber lasers are popular due to their high operational efficiency and ability to make high-quality cuts. The market faces challenges such as high initial costs, maintenance challenges, and high power consumption. IoT integration and data analytics are improving production capacities and reducing maintenance costs. The demand for laser cutting machines is high in manufacturing applications, including consumer electronics, HVAC, and automotive industries. After-sales services and customized products are essential for customer satisfaction. Demand drivers include automation, sustainability, and eCommerce. The market is segmented based on material processing, such as fiber-based technology, solid-state lasers, gas lasers, and semiconductor lasers. Applications include defense and aerospace, fusion cutting, flame cutting, sublimation cutting, and product development. Precision and energy efficiency are crucial factors in the market, with fiber laser cutting and macro-processing leading the way. The market faces challenges such as high initial investment, maintenance costs, and harmful gases. However, the benefits of laser cutting machines, including high-quality cuts and mechanized operation, outweigh the challenges. Smart technology and efficiency are key trends in the market, with the Internet of Things (IoT) playing a significant role in improving operational efficiency.

1 Executive Summary2 Market Landscape3 Market Sizing4 Historic Market Size5 Five Forces Analysis6 Market Segmentation

7 Customer Landscape8 Geographic Landscape9 Drivers, Challenges, and Trends10 Company Landscape11 Company Analysis12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/

SOURCE Technavio