Laser Cutting Machine Global Market Report 2024

Laser cutting is a technique employing a laser for cutting various materials, serving both industrial and artistic purposes, including etching. Laser cutting machines are employed for precise cutting and designing tasks across a diverse array of industries. These machines utilize a high-powered laser beam to achieve clean and precise cuts or carve specific designs onto materials such as steel, plastic, or wood. Primarily utilized in industrial manufacturing applications, laser cutting machines play a crucial role in achieving intricate and accurate results.

The primary technologies employed in the laser cutting machine market include solid-state, gas, and semiconductor technologies. Solid-state technology machines utilize a solid gain medium, typically ion-doped crystals or glasses, as opposed to a liquid. This type of laser cutting machine generates light at a significantly higher frequency. Laser cutting machines employ various processes, including fusion cutting, flame-cutting, sublimation cutting, laser processing configuration, laser cutting, and engraving configuration. These machines find extensive applications in industries such as automotive, consumer electronics, defense and aerospace, industrial, and various other end-user sectors.

The laser cutting machine market research report is one of a series of new reports from The Business Research Company that provides laser cutting machine market statistics, including laser cutting machines industry global market size, regional shares, competitors with a laser cutting machine market share, detailed laser cutting machine market segments, market trends and opportunities, and any further data you may need to thrive in the laser cutting machines industry. This laser cutting machine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The laser cutting machine market size has grown rapidly in recent years. It will grow from $5.06 billion in 2023 to $5.61 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth observed in the historic period can be ascribed to the demand for precision engineering solutions, advancements in compact machine development, a shift towards high-power lasers, an increased role in electronics manufacturing, and the adoption in aerospace and defense.

The laser cutting machine market size is expected to see rapid growth in the next few years. It will grow to $8.23 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The anticipated growth in the forecast period can be credited to a shift towards compact and versatile systems, the demand for precision engineering solutions, market expansion in emerging economies, advancements in material processing, and an increased focus on environmental sustainability. Key trends expected in the forecast period encompass the adoption of fiber laser technology, a rise in automation and integration, advancements in power and speed, an expansion in industrial applications, and an emphasis on customization and personalization.

The surge in the demand for automobiles is anticipated to be a driving force in the laser cutting machine market. This heightened demand for automobiles stems from factors such as the increasing need for transportation, rising income levels, rapid urbanization, and other related aspects. Consequently, there is an elevated requirement for laser cutting machines, as these machines play a crucial role in the manufacturing process of automotive parts by providing precise designs and expediting the manufacturing process. Laser cutting machines are recognized as efficient and effective tools for achieving precision in cutting and designing projects, particularly for modern automotive designs. For instance, data from the India Brand Equity Foundation (IBEF) indicates that in India, sales across all automotive segments rose from 17.47 million units in January-December 2020 to 18.49 million units in the calendar year 2021, marking a 5.8% increase. Furthermore, the Indian automotive industry, inclusive of component manufacturing, is anticipated to reach a valuation between $251.4 billion and $282.8 billion by 2026. This trend underscores the growing demand for automobiles. Hence, the escalating demand for automobiles is steering the laser cutting machine market.

The global transition to renewable energy is poised to drive the growth of the laser cutting machine market in the foreseeable future. Renewable energy encompasses sustainable and environmentally friendly power sources derived from natural elements such as sunlight, wind, or hydropower. Laser cutting machines play a crucial role in the renewable energy sector, specifically in precisely shaping and fabricating components for solar panels, wind turbines, and other clean energy technologies. As of May 2022, the International Energy Agency (IEA), an autonomous intergovernmental organization based in France, reported that annual renewable capacity additions set a new record in 2021, increasing by 6% to reach 295 GW. Hence, the ongoing global shift towards renewable energy sources serves as a key driver propelling the growth of the laser cutting machine market.

Prominent companies in the laser cutting machine market are actively pursuing the development of advanced machinery, such as 3D fiber laser cutting machines tailored for steel processing, to establish a competitive advantage in the market. A 3D fiber laser cutting machine represents a precision tool leveraging a fiber laser oscillator to cut through various materials. For example, in May 2022, Yamazaki Mazak, a Japan-based machine tool builder, introduced the FG-400 NEO, a 3D fiber laser cutting machine designed for steel products. Equipped with an energy-efficient fiber laser oscillator, this machine enhances productivity and precision in material cutting, encompassing steel, aluminum, brass, and copper. Notably, users gain control over laser beam diameter and shape, allowing for the efficient cutting of materials with different thicknesses using a single unit.

Prominent companies in the laser cutting machine market are concentrating on the development of effective solutions, such as 2D laser cutting machines, to elevate productivity and optimize their market profitability. A 2D laser cutting machine serves as a precision tool utilizing laser technology to accurately and efficiently cut flat materials. For example, in September 2021, TRUMPF, a high-technology company based in Germany, introduced the TruLaser 1000, a new 2D laser cutting machine specifically designed for beginners and companies aiming to enhance production capacity. With features such as up to a 70% increased feed rate and efficient cooling through the Highspeed Eco function and CoolLine technology, the TruLaser 1000 ensures high-quality processing. The machine is equipped with Smart Collision Prevention to minimize collision risks, and its user-friendly attributes, diverse material compatibility, and automatic nozzle changer contribute to an enhanced user experience.

In May 2022, the German-based holding company INDUS Holding AG completed the acquisition of HELD Industries GmbH for an undisclosed sum. This transaction involved INDUS obtaining a 70% stake in HELD, thereby incorporating another portfolio into its business and extending its presence in laser welding systems designed for hydrogen electrodes. HELD Industries GmbH, based in Germany, specializes in providing laser cutting and laser welding machines and systems.

Major companies operating in the laser cutting machine market report are Trumpf Laser GmbH + Co. KG, Coherent Inc., Amada Co. Ltd., Jinan Golden Laser Co. Ltd., Han's Laser Smart Equipment Group Co. Ltd., IPG Photonics Corporation, Prima North America Inc., Bystronic AG, Jenoptik Laser GmbH, Mazak Corporation, Wuhan Raycus Fiber Laser Technology Co. Ltd., Shenzhen Raycus Fiber Laser Technology Co. Ltd., LVD Company NV, Glorystar Laser Co. Ltd., Maxphotonics Technology Co. Ltd., Universal Laser Systems Inc., HG Laser Co. Ltd., Epilog Laser, MORN Laser, Mitsubishi Laser Machinery Co. Ltd., Rofin-Sinar Technologies Inc., Trotec Laser GmbH, GCC Laser, Golden Laser Group Co. Ltd., Dongguan Aowei Laser Technology Co. Ltd., Reci Laser Technology Co. Ltd., Raytech Laser Co. Ltd., ACCURL Laser Technology Co. Ltd., Sino-Stargle Laser Technology Co. Ltd., Bodor Laser

North America was the largest region in the laser cutting machine market in 2023. Asia-Pacific is expected to be the fastest-growing region in the laser cutting machine market share during the forecast period. The regions covered in the laser cutting machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the laser cutting machine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The laser cutting machine market consists of sales of laser cutting machines including laser cutting including fusion cutting, flame cutting, and remote cutting among others. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this laser cutting machine market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Laser Cutting Machine Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on laser cutting machine market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for laser cutting machine ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The laser cutting machine market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Technology: Solid State; Gas; Semiconductor
• 2) By Process: Fusion Cutting; Flame Cutting; Sublimation Cutting
• 3) By End User Industry: Automotive; Consumer Electronics; Defense And Aerospace; Industrial; Other End User Industries
• Companies Mentioned: Trumpf Laser GmbH + Co. KG; Coherent Inc.; Amada Co. Ltd.; Jinan Golden Laser Co. Ltd.; Han's Laser Smart Equipment Group Co. Ltd.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.