LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global laser cutting machine market is expected to grow at a CAGR of more than 8% during the forecast period.
This research report titled ‘Global Laser Cutting Machine Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Laser cutting technology enables the cutting of a wide range of industrial materials of different shapes and varying thicknesses. With the help of laser cutting machines, metals such as stainless steel and alloyed steels, and precious and non-ferrous metals can be processed as per the requirement of end-users and delivered with a superior-quality finish. There are three main types of lasers that are used for industrial purposes, namely CO₂ lasers, fiber lasers, and solid-state lasers.
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Technavio’s heavy industry research analysts categorize the global laser cutting machine market into the following segments by end-user. They are:
- Automotive
- Aerospace and defense
- Electrical and electronics
- Industrial machinery
- Others
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The top three revenue-generating end-user segments of the global laser cutting machine market are discussed below:
Automotive
Laser cutting machines have a wide range of applications in the automotive sector. Laser cutting is used at various stages of the automotive manufacturing process to ensure that the end-product is safe and reliable. Laser cutting machines are used in cutting air bags, back injection molded plastic fittings (interior), blackout materials (curtains) for HGVs or motor caravans, and coatings for A-B-C column trims convertible roofs.
According to Anju Ajay Kumar, a lead tools and components research analyst from Technavio, “Laser cutting machines are used for cutting flexible printed circuits, floor coverings, front membranes for control panels, injection molding and sprue separation, insulating foils in the engine compartment, interior air conditioning filters, and others. The growing demand for automobiles is expected to boost investments in automotive production, thereby driving the demand for laser cutting machines.”
Aerospace and defense
There are numerous components and parts in the aerospace and defense sector that are manufactured using laser cutting machines. Laser cutting is cost effective and delivers high-quality products. Products, such as aluminum gaskets, forgings, titanium bars, specialized fittings, custom O-rings, connectors, aerospace bolts, spacers, and fasteners, are manufactured with the help of laser cutting machines for the aerospace sector.
“Laser technology is used for making armor plating for military vehicles, small weapon identification, and handheld marking systems on non-movable items, such as ships, airplanes, and missiles. Therefore, growing investments in the aerospace and defense sector are expected to drive the demand for laser cutting machines,” adds Anju.
Electrical and electronics
The market by the electrical and electronics sector is expected to grow at the highest CAGR due to rising demand for consumer electronics, such as PCs and smartphones. Laser cutting machines are used in the manufacture of displays, integrated circuits, and printed circuit boards.
The demand for electrical household appliances is expected to grow due to the rapid industrialization and growing middle-class group in emerging economies. The increasing demand for electronic appliances, smartphones, automotive, aerospace, communication systems, and others is expected to drive the demand for laser cutting machines during the forecast period.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Coherent
- IPG Photonics
- MKS Instruments
- TRUMPF
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