Introduction: Laser cutting machines are used to cut and shape various materials such as metals, plastics, and wood. They are widely used in industries such as automotive, aerospace, and manufacturing. With the advancement of technology, the market for laser cutting machines is growing rapidly. This article analyzes the global laser cutting machine market and provides a forecast for the period 2021-2028.
Market Analysis: The global laser cutting machine market was valued at USD 3.1 billion in 2020 and is expected to grow at a CAGR of 7.8% from 2021 to 2028. The increasing demand for laser cutting machines in the automotive and aerospace industries is one of the major factors driving the growth of the market. The ability of laser cutting machines to cut complex shapes with high precision has made them a popular choice for these industries.
North America is expected to be the largest market for laser cutting machines during the forecast period. The presence of major manufacturers and the high adoption of advanced technologies in the region are the key factors driving the growth of the market. The Asia-Pacific region is also expected to witness significant growth during the forecast period due to the increasing demand for laser cutting machines in countries such as China, Japan, and India.
By technology, the fiber laser segment is expected to dominate the market during the forecast period. Fiber lasers offer several advantages such as high efficiency, low maintenance, and low operating costs. They are widely used in industries such as automotive, aerospace, and manufacturing.
By application, the metal cutting segment is expected to dominate the market during the forecast period. The increasing demand for laser cutting machines for cutting metals such as stainless steel, aluminum, and copper is driving the growth of the market.
Conclusion: The global laser cutting machine market is expected to witness significant growth during the forecast period. The increasing demand for laser cutting machines in industries such as automotive and aerospace is driving the growth of the market. North America is expected to be the largest market for laser cutting machines, while the Asia-Pacific region is also expected to witness significant growth. The fiber laser segment is expected to dominate the market, while the metal cutting segment is expected to be the largest application segment.