Laser Cutting Machines Market - By Technology, By Process, By Application & Global Region - Market Size, Share, Trends and Forecast 2021-2027
The global laser cutting machine market size was estimated at USD 3.7 billion in 2019 and is expected to reach USD 6.1 billion by 2027, growing with a CAGR of 4.7% over the forecasted period of 2021 to 2027. Laser cutting a technology which uses a laser to slice materials. It is typically used in production applications and also by small businesses. Laser cutting machine is one of the most widely manufacturing process across the globe. Laser cutting machine is wide used in semiconductors, electronics, and medical sectors and aerospace sectors, including e-mobility. The laser cutting machine provides a new level of reliability and quality in the manufacturing process.
Laser cutting shows certain advantages over plasma cutting as this process is more specific and consumes less energy while cutting aluminum and steel sheets.
Moreover, recently developed fiber laser machines like 7Kw machine are now moving towards plasma machines to cut thick materials. Moreover, the edge quality and precision levels achieved with laser cutting machines are better than traditional cutting methods owing to technological advancement in the laser cutting machine. The rising trend of automation in the manufacturing sector and the increasing demand for the end-use industry are projected to boost these machines' demand over the forecast period. Improvement in edge squareness, accuracy and heat input control means that laser procedure is replacing other cutting techniques like oxy-fuel and plasma. There are diversified state of the art laser machines on the cutting purposes which can be utilized for cutting woods, metals and engineered woods. Moreover, laser cutting technology also helps in cutting complex shaped without the need for tooling and faster or similar speed than other cutting methods, which also boost the growth of the laser cutting machine market.
The big players are focusing on decreasing these machines' price and tools due to the great competition among the vendors. A vast number of producers have made to accept the pricing strategy to decrease the cost and gain a good market share. However, the high cost involved in implementing these devices is restricting the growth of the market. Moreover, customers do not know about these machines and need technical expertise, which is the big challenge for the stakeholders.
The high-power laser welding systems are also experiencing great growth in the industry as well as in R&D labs. Their number is continuously raising in both sectors owing to the government pushing for new innovative technology that is needed by industry. This market is set to expand more than double in the upcoming years and will continue to grow further. The leading players for high-power welding still are European Companies like IPG Photonics, Coherent, Laserline, Amada, TRUMPF and other various integrators. However, Indian integrators like Scantech Laser (Mumbai), Suresh Indu Laser (Pune), Sahajanand Laser Technology (Ahmedabad), and other are providing laser welding solutions by using lasers from IPG Photonics, Coherent and other companies.
North America holds the major market share and it is expected to retain its dominance during the forecast period. The raising globalization has led to great demand among customers for final products to the low level. Moreover, the end-use segment is widely accepting these machines to manufacture good quality of products in less time. Moreover, the rising trend of automation in this region makes producer automate various processes, including laser cutting.
The laser cutting machine market is segmented into solid state, gas, and semiconductor by technology analysis. The gas segment holds the major market share and it is expected to retain its dominance during the forecast period. Raising demand for improved equipment and machining tools is boosting the adopting of these lasers.
Based on process, the laser cutting machine market is divided into fusion, flame, and sublimation. The flame segment is projected to dominate global market. The flame based process provides a high quality, improved finish and high cutting speed when compared to other procedures. Moreover, rising demand for trimming small alloys of steel and carbon is expected to raise the flames-based process's revenue.
On the basis of process, the laser cutting machine market is divided into consumer electronics defense and aerospace. The consumer electronic is expected to dominate the market owing to in its raising increasing electronics products. Moreover, these lasers are widely used for cutting and welding in consumer electronics and other consumer products. Laser based machines are mostly used to cut printed circuit boards, and other products. Furthermore, the less life of these devices is projected to raise the machines' requirement over the forecast period.
Key Companies Profiled
The global laser cutting machine market is characterized by the presence of various small and big players. The major market player includes Kern Laser Systems, Jenoptik Laser GmbH, Amada Miyachi Co. Ltd., Rofin-Sinar Technologies Inc., and Trumpf Laser GmbH + Co. KG. As the market is competitive in nature, the players indulge in raising their competitive share through strategic initiatives like mergers, new product and acquisitions.