Published On : 02 Jul 2018
Laser cutting is an innovation that utilizes lasers, for example, solid state, CO2, and fiber to cut materials. Laser processing and cutting machines are competent to cut materials right from steel to plastic with total accuracy. It is a critical manufacturing device required by factories and firms to fabricate parts with complex geometry, for example, consumer electronics, automotive industry, machine tool sector, and other manufacturing sectors.
Over the past decades, the laser processing machines market has experienced distinctive changes in quality and thickness of cutting material, efficiency, and power which bring the present laser cutting machines with higher cutting velocity and quality level, the capacity to cut thin and thick metals, and the user’s requirement to process both aluminum and steel on a same gadget.
1. High Demand in vehicle Manufacturing Sector to Support Market Demand
Research investigation on the global laser processing machine market distinguishes that the development of the automotive industry is likely to be one of the main contributing factors that will positively affect the development of the market. The automotive sector is among the key end-users of laser cutting machines, thus propelling the laser processing market. The requirement for high processing velocity, high caliber of forefronts, and low heat input has actuated automobile makers to include laser cutting machines in their procedures. With the rise in population, the rising disposable income, and the high demand in vehicle manufacturing plants, the segment is seeing impressive development particularly in significant nations, for example, China, the US, and India. This development of the automotive division will consequently drive the interest for laser processing machines.
2. Asia Pacific to Dominate Global laser Processing Market
As per regions, Asia Pacific is expected to be the key revenue generating region within the forecast period. The rise in demand for laser processing machines from the electronics, industrial manufacturing, automotive, and medical sectors is anticipated to drive the development of this market in the area. The developing interests in the manufacturing part will likewise fuel the demand for laser processing machines in Asia Pacific.
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3. Market to witness High Competition in Forthcoming Years Among Key Players
The laser processing machine market comprises of numerous key players who offer a wide range of products. Increased competition is witnessed in the market because of the emergence of various global vendors as they contend particularly in terms of features, better quality products, and aftermarket administrations. The level of rivalry among the players in the laser processing market will heighten in the coming years with the increase in technological advancements, number of product developments, and mergers and acquisitions activities.
Mitsubishi, Trumpf, Mazak, Jenoptik, Amada, Esab, Enshu, IPG Photonics, Alltec, Newport Corporation, Bystronic, Panasonic, Homag, Deckel Maho, Ermak, Aerotech, Coherent, Rofin, Sinar Technologies, and Eurolaser are some of the key players dominating the global laser processing machines market.
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