Laser Cutting Machine Market Size, Share, Trends, Growth 2032

Laser Cutting Machine Market Insights

Zion Market Research has published a report on the global Laser Cutting Machine Market, estimating its value at USD 7.23 Billion in 2023, with projections indicating that it will reach USD 11.94 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 5.74% over the forecast period 2024-2032.

The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Laser Cutting Machine industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Laser Cutting Machine Market: Overview

Laser cutting machine makes use of laser cutting technique for slicing materials. Furthermore, the equipment makes use of carbon dioxide, neodymium, and neodymium yttrium aluminum garnet for cutting materials. However, carbon dioxide laser cutting machines are utilized for slicing of various materials like titanium, aluminum, wax, mild steel, wax, paper, wood, and plastic. Moreover, neodymium yttrium aluminum garnet lasers are utilized widely for cutting & scribing of ceramics & metals.

Furthermore, laser cutting in metals is more exact and makes use of low energy while cutting metal sheet as compared to plasma cutting. In addition to this, laser cutting machine makes utilization of vaporization cutting, thermal stress cracking, reactive cutting, and melt & blow methods for cutting materials.

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Laser Cutting Machine Market: Growth Drivers

Large-scale industrialization and escalating demand for the product across the emerging economies will spearhead the growth of the laser cutting machine industry over the forecast timeline.  Apart from this, growing requirement for miniaturization of microelectronic equipment along with technological breakthroughs in medical & healthcare sectors will propel the business growth over the estimated timeframe.

Furthermore, growing need for precise & exact sizes in aerospace & defense, industrial equipment, and electronics & electrical industries will steer the business growth over the forecast timeline. Apart from this, laser cutting equipment is used to slice parts as well as shapes quickly with accurate outcomes. In addition to this, laser cutting device manufacturers are allocating huge proportion of funds for automating laser cutting devices for reducing downtime & fulfilling power conservation requirements. All these aforementioned aspects will steer the expansion of laser cutting machine industry over the estimated timeline.

Laser Cutting Machine Market: Report Scope

North America To Account For Major Share Of Global Market Over 2024-2032

The growth of the laser cutting machine business in North America during the forecast timeline is owing to strong presence of manufacturing sector. Countries like the U.S. are likely to be the key revenue contributors of the region over the forecast timeline.

Laser Cutting Machine Market: Competitive Analysis

The laser cutting machine market is dominated by players like:

• Bystronic Incorporated
• Epilog Laser Inc
• Trumpf GMBH + Co. KG
• ALPHA Laser GmbH
• IPG Photonics Corporation
• Jenoptik Laser GmbH
• Coherent Incorporation
• Amada Miyachi Company, Ltd

The global laser cutting machine market is segmented as follows:

By Laser Types

• Solid-state lasers
• CO2 lasers
• Others (disc lasers and fiber lasers)

By Application

• Consumer Electronics & Appliances
• Automotive & Transportation
• Aerospace
• Other Manufacturing

By Process

• Sublimation cutting
• Flame cutting
• Fusion cutting

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa