Laser Cutting Machine Market Size To Touch $6.72 Billion By 2024 | Key Industry Players Are IPG Photonics Corporation, Coherent Inc., and Rofin-Sinar Technologies Inc.

The global laser cutting machines market size is expected to reach USD 6.72 billion by 2024, according to a new report by Grand View Research, Inc. Increasing use of fiber, CO2 and Yttrium Aluminum Garnet (YAG) lasers in the cutting applications such as consumer electronics and industrial sectors is expected to augment the demand for the market.

Consumer electronics is anticipated to be the fastest-growing sector owing to the rising implementation of lasers in material processing applications such as cutting, welding, and engraving. Moreover, the need for high power input and efficiency-based cutters are driving the demand for laser cutting machines over the forecast period.

6th February 2020, A CTR, working hard to take even more advantages with British manufactured and British designed laser machines. They have declared that they are now offering the collective package of Lightburn software and RD controller, which offer even more characteristics. These offerings will help to boost the demand for laser cutting machine market in the years to come.

In 2017, Coherent ranked first in the global laser technology, mainly on the basis of its R&D investments, geographic reach, product portfolio, and market penetration. The Coherent company is developing its development through enhancement of its technology portfolio, acquisition of new technologies, and introducing products to new markets. This will help to boost the laser cutting machine market growth over the forecast period.

In October 2018, Trumpf introduced the TruLaser Cell 7040, a 3D laser system that can be used for welding and cutting applications in 3D or 2D. This will fuel the demand for laser cutting machine market growth in the years to come.

In May 2018, Coherent in acquisition with O.R. Lasertechnologie, a German laser technology supplier, allowing it to improve its laser machine product range. This will boom the growth of the laser cutting machine market over the forecast period.

Browse request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/laser-cutting-machine-market/request/rs1

Further key findings from the study suggest:

• Gas lasers are estimated to grow at a CAGR of over 9.4% from 2016 to 2024. These lasers have an increasing demand for improved machine tools and equipment in making holograms, dye laser pumping, barcode reading, and laser printing.
• The fusion cutting process is estimated to be the fastest-growing segment at a CAGR of over 9.4% from 2016 to 2024. Fusion cutting offers the benefit of producing a virtually oxide-free cutting edge suitable for thin sheets cutting.
• The industrial sector is expected to dominate the market over the forecast period. The growing trend of automation in the manufacturing process is increasing the demand for laser cutting machines. These machines precisely cut parts and patterns at high speeds with consistent results.
• The Asia Pacific laser cutting machines industry is expected to remain the largest market owing to the rising GDP and rapid expansion of the regional manufacturing sector. Moreover, the regional growth is strong in industries that use laser cutting to produce semiconductors, consumer electronics, and automotive components. As these sectors are expanding, the need for laser cutting machines in this region is also increasing.
• Key players in the laser cutting machines market include Trumpf Laser GmbH + Co. KG, IPG Photonics Corporation, Coherent Inc., and Rofin-Sinar Technologies Inc. The market is highly competitive owing to the presence of numerous manufacturers' incorporating innovative technologies to offer product differentiation.

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Grand View Research has segmented the global laser cutting machines market on the basis of technology, process, application, and region:

Laser Cutting Machines Technology Outlook (Revenue, USD Billion; 2015 - 2024)

• Solid State Lasers
• Gas Lasers
• Semiconductor Lasers

Laser Cutting Machines Process Outlook (Revenue, USD Billion; 2015 - 2024)

• Fusion Cutting
• Flame Cutting
• Sublimation Cutting

Laser Cutting Machines Application Outlook (Revenue, USD Billion; 2015 - 2024)

• Automotive
• Consumer Electronics
• Defense and Aerospace
• Industrial
• Others

Laser Cutting Machines Regional Outlook (Revenue, USD Billion; 2015 - 2024)

• North America
• Europe
• Asia Pacific
• RoW

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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