Laser cutting machine market is projected to grow from US$ 3.4 billion in 2020 to US$ 4.9 billion by 2029. Increasing adoption of laser cutting machine in metal process industries to reduce human involvement for improving quality is major factors driving growth of the laser cutting machine market. Furthermore, laser cutting machines offers extreme precision which leads to inexpensive manufacturing of small objects is another important factor boosting growth of the laser cutting machine market over forecast period. Increasing automation in the various manufacturing industries in developing countries is expected to create lucrative opportunity for players operating into the laser cutting machine market.

The report "Laser Cutting Machine Market, By Technology (Solid-State Lasers, Gas Lasers, and Semiconductor Lasers), By Process (Fusion Cutting, Flame Cutting, and Sublimation Cutting), By End User (Automotive, Consumer Electronics, Defense and Aerospace, Industrial, and Others), and Region - Forecast to 2029"

Key Highlights:

• In February 2019, for instance, Coherent, Inc. has launched ExactCut micromachining system, combine intelligence, integration, and interconnectivity for precision cutting of metals, alloys, sapphire, polycrystalline diamond (PCD), and ceramics.

Key Market Insights from the report:          

The laser cutting machine market accounted for US$ 3.4 billion in 2020 and is projected to register a CAGR of 4.3 % over the forecast period. The market report has been segmented on the basis of technology, process, end user, and region.

• By technology, the solid-state lasers segment is accounted for major revenue share in 2018, owing to increased efficiency and better precision for cutting materials.
• By process, the laser cutting machine market is segmented into fusion cutting, flame cutting, and sublimation cutting.
• By end user, the industrial segment accounted for major revenue share in 2018, owing to increasing demand for low maintenance technology and provide high quality, along with accuracy in cutting of the surface.
• By region, North America Laser Cutting Machine market accounted for major revenue share of the laser cutting machine market and is further anticipated to maintain its dominance over the forecast period. This is attributed to presence of major players and increasing defense and aerospace industry in the countries of the North America region. Asia Pacific laser cutting machine market is expected to grow at the highest rate during the forecast period, 2019. This is due to growing in number of electronic manufacturing industries and increase in purchasing power of people in countries of the Asia Pacific region.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on " Laser Cutting Machine Market”, By Technology (Solid-State Lasers, Gas Lasers, and Semiconductor Lasers), By Process (Fusion Cutting, Flame Cutting, and Sublimation Cutting), By End User (Automotive, Consumer Electronics, Defense and Aerospace, Industrial, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)- forecast till 2029

The prominent player operating in the laser cutting machine market includes Coherent, Inc., JENOPTIK Laser GmbH, ALPHA Laser GmbH, Bystronic, Inc., Epilog Corporation, IPG Photonics Corporation, Trumpf GMBH Co. KG, and Amada Miyachi Co., Ltd.

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