Laser Cutting Machines Market Size - By Technology (Solid-State lasers, Gas Lasers, Semiconductor Laser), By Process (Fusion Cutting, Flame Cutting, Sublimation Cutting), By Function Type (Semi-Automatic, Robotic), By Application & Forecast, 2024 – 2032

Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Industrial-Machinery | Format: Report available in PDF / Excel Format

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Laser Cutting Machines Market Size - By Technology (Solid-State lasers, Gas Lasers, Semiconductor Laser), By Process (Fusion Cutting, Flame Cutting, Sublimation Cutting), By Function Type (Semi-Automatic, Robotic), By Application & Forecast, 2024 – 2032

Laser Cutting Machines Market Size

Laser Cutting Machines Market was valued at USD 5.94 billion in 2023 and is anticipated to register a CAGR of 7.6% from 2024 to 2032. Laser cutting technology continues to evolve, with advancements in laser sources, such as fiber lasers, which offer higher efficiency, precision, and reliability compared to traditional CO2 lasers. Integration of automation, robotics, and artificial intelligence (AI) into laser cutting systems is also becoming more prevalent, enhancing productivity and reducing human intervention.

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The automotive and aerospace sectors are significant users of laser cutting machines due to the need for precision cutting of various materials such as metals and composites. The adoption of laser cutting technology in these industries is driven by the demand for lightweight materials, complex designs, and stringent quality requirements. Additionally, laser cutting machines can be used for a wide range of applications within the industrial equipment market.
 

Laser Cutting Machines Market Report Attributes
Report Attribute Details
Base Year 2023
Laser Cutting Machines Market Size in 2023 USD 5.94 Billion
Forecast Period 2024 - 2032
Forecast Period 2024 - 2032 CAGR 7.6%
2032 Value Projection USD 12.33 Billion
Historical Data for 2021 - 2023
No. of Pages 181
Tables, Charts & Figures 212
Segments covered Technology, Process, Function Type, and Application
Growth Drivers
  • Increasing adoption of automation
  • Growing demand from end-user industries
  • Rising demand for customization and personalization
Pitfalls & Challenges
  • High initial investment
  • Material limitations

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Investing in a laser cutting machine can be a hefty upfront cost, which can be a tough pill to swallow for small businesses and startups hoping to get their hands on this tech. Even though laser cutters offer incredible precision and efficiency, there are still ongoing expenses to consider, like electricity, maintenance, and those all-important laser gases and lenses. On the bright side, laser cutters can handle a wide range of materials like metal, plastic, and even ceramics. But there are some materials, like shiny metals and certain types of composites, that can give laser cutters a run for their money or need special equipment, which limits their versatility. Operating and taking care of a laser cutter is no walk in the park either. It takes special training and skills, and finding people with those skills can be tough in certain areas, which can slow down the adoption of laser cutting tech.

Laser Cutting Machines Market Trends

Laser cutting machine manufacturers are increasingly integrating Internet of Things (IoT) capabilities into their products to enable remote monitoring, predictive maintenance, and optimization of cutting processes. Data analytics tools are being utilized to analyze cutting performance, identify inefficiencies, and optimize production workflows. Hybrid laser cutting systems, which combine laser cutting with other cutting technologies such as waterjet or plasma cutting, are gaining traction. These systems offer versatility and the ability to handle a wider range of materials and thicknesses, catering to diverse manufacturing needs.

Hey there! I've been keeping an eye on the laser cutting machine industry, and I've noticed some really cool trends. Firstly, there's a growing focus on going green and saving energy in factories. This means that laser cutting machines that are eco-friendly are in high demand. Manufacturers are making systems that use less energy and waste less material. Secondly, laser technology is getting better all the time. Lasers are now more powerful, have better beams, and cut faster. This means that manufacturers can use these machines to work with more types of materials and make things more precisely and quickly. So, the demand for laser cutting machines is growing like crazy. This is making the whole industrial equipment market even bigger and better.

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Based on technology, the solid state lasers segment was reached USD 2.77 billion in 2023 and is expected to exceed USD 6.02 billion by 2032. Semiconductor laser cutting machines are often more cost-effective compared to other types of lasers cutting machines. This makes them particularly attractive in the APAC region, where cost considerations play a significant role in purchasing decisions. Additionally, semiconductor lasers offer high precision and efficiency in cutting various materials such as metals, plastics, and ceramics. In industries where precision is crucial, such as automotive, electronics, and manufacturing, semiconductor laser cutting machines are preferred.

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Based on application, the automotive segment accounted for a market share of about 38% in 2023 and is expected to dominate 42% revenue share by 2032. Laser cutting offers high precision and accuracy, which is crucial in the automotive industry where components need to fit together perfectly. This precision ensures consistent quality and reduces the need for additional machining or finishing processes. Laser cutting machines can cut a wide range of materials used in automotive manufacturing, including metals like steel, aluminum, and titanium, as well as various plastics and composites.

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North America laser cutting machines market size surpassed USD 2.04 billion in 2023. North America, particularly the United States, has been at the forefront of technological innovation. The region is home to many leading manufacturers and developers of laser cutting machines, who continually invest in research and development to improve their products' performance, efficiency, and capabilities. Additionally, North America boasts a strong industrial infrastructure, particularly in sectors such as automotive, aerospace, electronics, and healthcare. Laser cutting machines find extensive applications in these industries for precise cutting and shaping of materials like metal, plastic, and wood.

The United States is expected to remain a powerhouse in the North American laser cutting machines market, with a steady growth rate of 7.8% projected through 2032. This dominance is driven by several factors. Over the years, the U.S. has been a hotbed for innovation and technological breakthroughs, including in manufacturing technologies such as laser cutting. American companies have consistently played a leading role in developing advanced laser cutting machines, giving them a significant edge in the marketplace. Furthermore, the U.S. has a highly skilled workforce with expertise in engineering, design, and manufacturing. This pool of talented individuals allows American companies to design and produce cutting-edge laser cutting solutions that meet the unique needs of various industries. As a result, U.S. dominance in the laser cutting machines market is expected to continue.

Germany is likely to dominate in Europe laser cutting machines market. Germany has a strong industrial base with diverse manufacturing sectors ranging from automotive and aerospace to electronics and medical devices. These industries demand high-precision cutting solutions, driving the demand for laser cutting machines. In addition, German manufacturers are known for their strong focus on exports. They have established extensive global distribution networks and export their laser cutting machines to markets around the world. This global presence contributes to their dominance in Europe and beyond.

India is likely to dominate in Asia Pacific laser cutting machines market with a growing CAGR of 9.2% through 2032. India has been experiencing rapid industrialization across various sectors such as automotive, aerospace, electronics, and construction. Laser cutting machines are essential tools in these industries for precise cutting and shaping of materials like metal, plastic, and wood. With the growing consumer demand for customized products, industries are seeking flexible manufacturing solutions. Laser cutting machines enable easy customization, allowing Indian manufacturers to meet diverse customer requirements efficiently.

Laser Cutting Machines Market Share

These prominent companies are proactively involved in strategic endeavors including mergers & acquisitions, facility expansion, and partnerships to diversify their product offerings, expand their customer reach, and solidify their market position. Together, the top five mentioned companies collectively occupied around 10% to 15% of the global market share in 2023. They consistently allocate resources to research & development, enhancing their products and integrating innovative technologies to maintain a competitive edge.

Laser Cutting Machines Market Companies

Major players operating in the laser cutting machines industry include

  • Amada
  • Bystronic
  • Coherent
  • Epilog Laser
  • Han's Laser
  • IPG Photonics
  • Jenoptik
  • LVD Company
  • Mazak Optonics
  • Mitsubishi Electric Corporation
  • Prima Power
  • Tanaka
  • Trotec Laser
  • Trumpf
  • Universal Laser Systems

Laser Cutting Machines Industry News

  • In August 2022, Bystronic Inc. partnered with Nano Lock Security to develop tailored security solutions catering to the specific needs of sheet and tube metal cutting, bending, and automation systems. These collaborative efforts address longstanding challenges in downstream industries, driving anticipated market growth and heightened demand for laser cutting technologies.
  • In April 2022, Mazak Optonics Corp. unveiled the Optiplex 3015 Neo 15kw, a cutting-edge 2D fibre laser-cutting system renowned for its precise control over beam shape and diameter. This innovation enables adaptable cutting for diverse materials and configurations, resulting in enhanced speed and quality across multiple applications.
  • In May 2022, Monport Tech Inc. introduced the Monfort laser, distinguished for its exceptional customer service, affordability, and superior output quality. Prior to its market debut, this expertly crafted laser engraving machine demonstrated its reliability and efficiency through successful engraving of various valuable materials.
  • In May 2021, Yamazaki Mazak Corporation launched the FG-220, a precision cutting machine engineered to accurately cut a range of structural materials, including round, square, rectangular, and open profiles. This innovative solution offers numerous advantages, including reduced setup time, quicker lead times, decreased operator dependency, and minimized floor space requirements.

This laser cutting machines market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Million) and volume (Million Units) from 2021 to 2032, for the following segments

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Market, By Technology

 

  • Solid-State lasers
  • Gas Lasers
  • Semiconductor Laser

Market, By Process

  • Fusion Cutting
  • Flame Cutting
  • Sublimation Cutting

Market, By Function Type

  • Semi-Automatic
  • Robotic

Market, By Application

  • Automotive
  • Consumer Electronics
  • Defense and Aerospace
  • Industrial
  • Others (medical, energy & power etc.)

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Malaysia    
    • Indonesia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA

 

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