Aug 16, 2023   SOURCE: BusinessWire

Global Laser Cutting Machines Market Trends Analysis Report 2023: Industry Expected to Reach $9.5 Billion by 2029, Driven by Its Significance in Modern Manufacturing Processes - ResearchAndMarkets.com

The "Global Laser Cutting Machines Market 2023-2029" report has been added to ResearchAndMarkets.com's offering.

The Global Laser Cutting Machines market is poised for impressive growth, with expectations of reaching $9.5 billion by 2029, driven by a robust compound annual growth rate (CAGR) of 5.2% during the forecast period. This surge is a reflection of the rising demand for laser cutting technology across various industries, highlighting its significance in modern manufacturing processes.

Automotive Industry at the Forefront of Laser Cutting Applications

The automotive sector emerges as a pivotal application area for Laser Cutting Machines. This technology finds its utility in fabricating metal components, cutting plastic parts, and even in marking and engraving parts for branding and identification within the automotive domain. In 2022, the automotive sector raked in revenue of $1.72 billion in the Laser Cutting Machines market. This sector's significance stems from its ability to adapt and integrate technological advancements such as automation and robotics. The ongoing digital revolution, led by Industry 4.0, is expected to further leverage intelligent systems in metal manufacturing processes like laser cutting. Moreover, the integration of energy-efficient materials, driven by digital transformation, underscores the vital role that robots and automated systems play in propelling the market.

Strategies Driving Growth: Product Launches Take Center Stage

Market participants are employing strategic maneuvers to stay aligned with evolving end-user demands. One key strategy that dominates is the launch of new products. For instance, AMADA, in April 2022, introduced the ENSIS-6225AJ, a fiber laser cutting machine targeting the European market. This innovative product can process sheets of material measuring 6.2m x 2.5m and comes in variants with powers of 6, 9, and 12kW, capable of cutting up to 25 mm mild steel, aluminum, and stainless steel. Similarly, Epilog Laser's Fusion Maker suite expansion, announced in April 2023, introduces the Fusion Maker 24 and 36, catering to market needs with extended work areas and higher laser wattages. These strategic product launches underline the dynamism within the Laser Cutting Machines market.

Market Competition Analysis: Industry Pioneers and Innovators

A comprehensive analysis of market competition reveals key players who are shaping the landscape. FANUC Corporation leads the market, followed by innovators like AMADA Co. Ltd.., TRUMPF SE + Co. KG, and Coherent Corp. For instance, in January 2023, Coherent Corp. introduced the infrared industrial femtosecond laser Monaco, designed to cut large OLED display glass. As OLED screens transition to IT devices, the demand for laser tools with higher output power grows, enabling the processing of larger glass sheets for tablets and laptops.

Factors Driving Market Growth

Advancements in Laser Cutting Technology

Over the decades, the laser cutting industry has undergone transformative phases, culminating in the development of cutting-edge laser machines capable of high speeds, quality outputs, and versatile material processing. These advancements cater to diverse needs, including micro-cutting equipment in healthcare. Consequently, industries that formerly relied on micro-cutting equipment are now adopting laser cutting machines, a trend expected to fuel market expansion.

Demand for High-Quality Products

Laser cutting enables the precision cutting of various materials, yielding smoother and more accurate edges. This feature, coupled with the ability to cut multiple materials using techniques like vaporization, thermal stress cracking, melt and blow, cold cutting, and more, positions laser cutting machines as tools for delivering high-quality products. As industries increasingly seek top-tier products, the demand for laser cutting technology is set to grow.

Market Restraints: Challenges and Hurdles

Cost Implications and Material Limitations

Despite the benefits, the high cost associated with laser cutting equipment, coupled with substantial power consumption, poses challenges to market expansion. The expensive components required for these machines, such as laser generators, water tubes, and laser lenses, along with maintenance costs, can be prohibitive. This cost factor is especially daunting for small businesses and start-ups, potentially hindering their access to laser cutting technology. Additionally, certain materials, including plastics and thermosets, release harmful byproducts during the laser cutting process, limiting the scope of laser cutting applications.

The Laser Cutting Machines market is segmented based on technology, process, and application.

Technology Segmentation:

  • Solid State Lasers
  • Gas Lasers
  • Semiconductor Lasers

Among these, the gas lasers segment witnessed substantial revenue share in 2022, driven by enhanced machine equipment demand and their extensive application in manufacturing dye laser pumping, holograms, barcode scanning, and laser printing.

Process Segmentation:

  • Flame Cutting
  • Fusion Cutting
  • Sublimation Cutting

The flame cutting process held the highest revenue share in 2022 due to its precision, quick cutting rates, and effectiveness in working with materials of high thicknesses.

Application Segmentation:

  • Industrial
  • Automotive
  • Consumer Electronics
  • Defense & Aerospace
  • Others

The industrial segment dominated the market in 2022, fueled by the increasing utilization of laser cutting machines in cleaning components and molds across the manufacturing process.

Innovative Players Shaping the Landscape

Prominent companies driving the Laser Cutting Machines market include AMADA Co. Ltd., TRUMPF SE + Co. KG, FANUC Corporation, Bystronic Laser AG, Coherent Corp., IPG Photonics Corporation, Jenoptik AG, DPSS Lasers, Inc., Epilog Laser, and Kern Laser Systems. These key players continue to shape the market through strategic partnerships, collaborations, product launches, and acquisitions, ensuring that laser cutting technology remains at the forefront of modern manufacturing processes.

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