In this report, Technavio highlights the impact of NAFTA policy as one of the key emerging trends in the global punch laser machine market. In the Americas. the NAFTA policy introduced in 1994 has a significant effect on the economy. It was initially introduced to promote the South American countries to expand their manufacturing industries due to the vast availability of natural resources and low-cost labors. South American countries such as Mexico benefited from this policy as it helped them to widen their export business and advance their economy.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers
In this report, Technavio analysts highlight the need for industrial automation driving demand for punch laser machines as a key factor contributing to the growth of the global punch laser machine market:
Need for industrial automation driving demand for punch laser machines
Punch laser machines are used in the metal fabrication industry to build machines and structures. The fabrication process includes several processes such as cutting, punching, welding, machining, foaming, and assembling. The metal fabrication market is mostly dependent on the global economic condition. Automotive, aerospace, construction, energy, railways, and marine are the major end-user industries of the global punch laser market.
Fluctuating economies and cyclical industry demands are some of the challenges in that the metal fabrication industry experiences. Furthermore, with technological advances, the need for sophisticated machinery has increased to meet the customer demand for quick turnaround time both in production and output. Hence, fabrication companies need to adopt certain technologies that not only upgrade their productivity but also help them to maintain profitability.
According to a senior analyst at Technavio for unit operations, “Several companies incorporate process automation to improve their productivity and increase profit margins. The implementation of automation by a manufacturing firm even to a small extent while fabricating or producing a product can improve the company’s competitive edge. Automation ensures that a company can save on labor costs and increase efficiency.”
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Global punch laser machine market segmentation
This market research report segments the global punch laser machine market into the following products (fiber laser, CO2 laser, and solid-state laser) and key regions (the Americas, APAC, and EMEA).
Of the three major products, the fiber laser segment held the largest market share in 2017, accounting for nearly 72% of the market. The market share for this application is expected to witness a significant increase nearly 9% by 2022.
APAC was the leading region for the global punch laser machine market in 2017, accounting for a market share of nearly 44%. By 2022, APAC is expected to continue dominating the market and register the highest growth.
Save big with Technavio this May!
Find out what companies are venturing in to beat the heat this summer! Technavio indulges you with a massive 20% OFF on all
non-alcoholic beverages reports for the entire month.
Technavio honors the achievements and efforts of Motherhood this Mother's Day by offering a whopping 30% OFF on all cosmetics and toiletry reports. Offer valid from 7th May for a limited period.
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.