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Laser cutting is a type of technology that uses to cut materials and is generally used for industrial manufacturing applications, and also in small-scale industries. Laser cutting works with a principle of delivering high power laser cutting through optics. Optics are used to deliver the laser cutting beam. Laser cutting machines involve casting a Laser Cutting beam on the workpiece then melting it and evaporating the target area by using enough heat by the Laser Cutting
Global Laser Cutting Market Size & Growth:
The global Laser Cutting market accounted for $XX billion in 2017, and it is expected to attain XX billion by 2024. Global Laser Cutting market forecast during 2019-2025 is expected to grow with a CAGR of 9.3%.
Drivers that influencing Laser cutting market growth are high demand from the end-user industries. Increasing need for automation in the manufacturing industry tends to increase the market growth.
On the flip side, massive expenditure on research & development and high power consumption are the factors that are hampering the market growth.
Increasing adoption of high equipment of lasers and implementation of the laser to optimise production enhances the growth of the market in future.
Global Laser Cutting Market Share:
The global laser cutting market is segregated into type, Technology, Process, End User Industry and region.
Based on the type, the market is divided into equipment and services. Where equipment factor is the fastest-growing segment as many industries use only equipment base compared to services.
Based on Technology, global laser cutting market segmentation includes Solid state lasers, gas state lasers and semiconductor lasers. Among these, gas lasers are estimated to grow at a CAGR of over 9.4% from 2016 to 2024. These lasers have an increasing demand for improved machine tools and equipment in making holograms, dye laser pumping, barcode reading,
By process, laser cutting market segmentation includes Fusion cutting, Flame cutting, and Sublimation cutting. Among all these, The fusion cutting process is estimated to be the fastest-growing segment at a CAGR of over 9.4% from 2016 to 2024. Fusion cutting offers the benefit of producing oxide-free cutting edge suitable for cutting of thin sheets.
By end user, laser cutting market segmentation includes Automation, Consumer Electronics, Defense and Aerospace, Industrial and others. Among these, the top impacting factor is automation which impacts in market growth owing to increasing demand for laser cutting machines.
By geography, Asia Pacific is projected to be the fastest-growing region owing to the presence of robust economies such as China, India, and Japan. The increasing adoption of laser systems in the manufacturing sector is boosting the regional growth. Moreover, the steady growth in industries that use laser cutting to produce semiconductors, consumer electronics, and automotive components. As these sectors are expanding, the need for laser cutting machines in this region.
North America is projected to be a significant region, owing to the presence of a substantial industrial sector. The region is accounted for over 31% revenue share in 2015 and is estimated to reach over USD 1.97 billion by 2025. These are the reasons driving the growth of the market in these regions. According to global laser cutting market overview, the market share of unorganised players is expected to increase in coming
Starting from $2700
Starting from $2700
Starting from $2700
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