DUBLIN--(BUSINESS WIRE)--The "Laser Processing Machine Market: By Laser Type; By Processing Type; By End User Industry; By Geography- Forecast (2017-2023)" report has been added to Research and Markets' offering.
The laser processing machine market is estimated to grow at a CAGR of 7.5% during the forecast period to reach $23 bn by 2023.
Laser processing machines incorporate laser technology for cutting, wielding, marking, engraving, and additive manufacturing among others. The various materials that are processed by these machines are metals, glass, plastics, among others catering its application in end-user industries. Automotive sector is expected to be one of the major industries for laser processing machines market in the forecast period owing to recent industrialization aiming to reduce the weight of the vehicles by opting lightweight materials like magnesium, titanium and few others. Other key factors driving the market are growing advantages of laser technology over conventional material processing techniques, preference for automation among others.
Asia-Pacific held the largest market share in laser processing machine market followed by Europe, owing to increased demand for laser technology from original equipment manufacturers in material processing, rapid industrialization, and increasing adoption of laser processing systems across multiple application areas. Additionally, APAC growth seems quite promising owing to increased number of manufacturing plants in countries such as China, Japan, and South Korea.
- IPG Photonics Corporation
- Rofin-Sinar Technologies Inc.
- Coherent, Inc.
- Jenoptik AG
- Epilog Laser
- Eurolaser GmbH
- Trotec Laser GmbH
- Mitsubishi Electric
Key Topics Covered:
1. Market Overview
2. Executive Summary
3. Market Landscape
4. Market Forces
5. Strategic Analysis
6. Laser Processing Machine Market - By Laser Type
7. Laser Processing Machine Market - By Processing Type
8. Laser Processing Machine Market - By End User Industry
9. Laser Processing Machine Market - By Geography
10. Laser Processing Machine Market Entropy
11. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/jvjvcl/laser_processing