LONDON--(BUSINESS WIRE)--The laser cutting machine market research report examines the key questions around the implications of COVID-19 and provides a recovery analysis and outlook for the market in focus. The market has witnessed a neutral impact due to the COVID-19 pandemic. The research analysts at Technavio expect the laser cutting machine market to recover and grow by USD 1.02 billion during the forecast period, accelerating at a CAGR of almost 4%.
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Laser Cutting Machine Market Segmentation Analysis by Product
The fiber segment will account for the highest laser cutting machine market share. The growth is attributed to factors such as technological advances, growing industrial applications, and eco-friendly nature of fiber lasers. This report provides an accurate prediction of the contribution of all the segments to the growth of the laser cutting machine market size.
Laser Cutting Machine Market Regional Analysis
- The report covers regional analysis for APAC (India, China, Japan, and South Korea), Europe (Germany, France, UK, Italy), North America (US, Canada, Mexico), South America (Brazil, Argentina, Columbia), and MEA ( UAE, Saudi Arabia, Iran).
- 56% of the growth will originate from the APAC region.
- Factors such as the emergence of local vendors that provide low-cost laser cutting machines, the presence of skilled labor, government initiatives, a rising standard of living, strong industrial base, and increasing demand for automobiles will significantly drive the laser cutting machine market growth in this region over the forecast period.
- China and India are the key markets for laser cutting machine in APAC.
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Laser Cutting Machine Market: Key Market Drivers
Laser cutting machine market is expected to be driven by the growing focus on automation. Vendors have been initiating various steps to produce automated cutting machines to meet the market demand for optimized flexibility and personalization in terms of product design and proportions in the cutting process. Thus, individual standalone laser cutting machines can now be integrated into the production flow using automated software, which allows large industrial plants to shift toward unmanned production processes partially. Thus, the growing focus on automation will fuel the demand for automated laser cutting machines during the forecast period.
Rising Digitalization in Manufacturing Processes will be a Key Market Trend
Rising digitalization is helping the laser cutting industry to become more competitive on a global level. Digitalization offers several benefits, which include real-time connectivity with the user, enhanced flexibility, reduction of wastage during the manufacturing operation, increased ROI, and reduced time-to-market as well as inventories. With technological innovations such as IoT, blockchain, AI, and others, gaining prominence, digitalization is expected to be a key trend in the manufacturing landscape, which will fuel the growth of the laser cutting machine market during the forecast period.
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Laser Cutting Machine Market 2020-2024 : Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist laser cutting machine market growth during the next five years
- Estimation of the laser cutting machine market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the laser cutting machine market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of laser cutting machine market vendors
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- Market Overview
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Fiber - Market size and forecast 2019-2024
- Solid-state - Market size and forecast 2019-2024
- Diode - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Automotive - Market size and forecast 2019-2024
- Aerospace and defense - Market size and forecast 2019-2024
- Electrical and electronics - Market size and forecast 2019-2024
- Industrial machinery - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by End-user
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Laser Cutting Machine Market drivers
- Laser Cutting Machine Market challenges
- Laser Cutting Machine Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- ALPHA LASER GmbH
- AMADA HOLDINGS Co. Ltd.
- Coherent Inc.
- Conzzeta Management AG
- El.En. Spa
- Hans Laser Technology Industry Group Co. Ltd.
- IPG Photonics Corp.
- Koike Aronson Inc.
- Manz AG
- TRUMPF GmbH + Co. KG
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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