LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the laser cutting machine market in the US is expected to grow at a CAGR of more than 5% during the forecast period.
This research report titled ‘Laser Cutting Machine Market in the US 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
According to Gaurav Mohindru, a lead analyst at Technavio for tools and components research, “The advantages of a laser cutting machines such as speed, integrated laser beam guide, minimal machine footprints, and high dynamics endow it with a short cycle time, making it preferable to mechanical cutting.”
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The market research analysis categorizes the laser cutting machine market in the US into three major product segments. They are:
- Low-power fiber laser cutting machines
- Low-power CO₂ laser cutting machines
- Low-power solid-state laser cutting machines
Low-power fiber laser cutting machines
In fiber laser machines, banks of diodes are used to create fiber laser light that is channeled and amplified through a fiber optic cable, which is similar to that used in data transfer. When this amplified light exits the fiber cable, it is straightened (collimated) and then focused using a lens on the material to be cut. A fiber laser creates 200% more efficient light when compared with a CO₂ laser. The delivery of light to the desired spot on a material is much simpler with a fiber laser as it does not require expensive optical mirrors and other moving parts like that of a conventional CO₂ resonator or disk laser. This segment of the market is expected to grow at a CAGR of close to 9% during the forecast period.
“Laser cutting enables the cutting of a variety of industrial materials that have varying shapes and thickness. Laser cutting machines can cut ceramics, stainless steel and alloyed steels, and precious and non-ferrous metals,” says Gaurav.
Low-power CO₂ laser cutting machines
The low-power CO₂ laser cutting machine market is witnessing a negative trend as it is losing its market share to the newly introduced fiber laser cutting machines. This is due to the latter's higher efficiency. Therefore, the market for this segment is expected to decelerate at a CAGR of (5.04%) during the forecast period. CO₂ lasers could not keep up with the technological innovations and advantages offered by fiber lasers.
Low-power solid-state laser cutting machines
The market share of the low-power solid-state cutting machine market is also facing a decline due to intense competition from the low-power fiber laser cutting machine market. Fiber laser cutting machines provide superior performance over solid-state laser machines, which have many disadvantages such as noise that can affect the stability and sensitivity of the external environment.
In addition, solid-state laser cutting machines involve an overall high cost of ownership, besides having drawbacks such as their large size and operational challenges when compared with fiber laser cutting machines. Owing to all the drawbacks, Technavio has predicted that the fiber laser cutting machine market will witness huge gains that prove to be detrimental to the solid-state laser cutting machine market.
The top vendors highlighted by Technavio’s heavy industry market research analysts in this report are:
- IPG Photonics
- Mazak Optonics
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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