Laser Cutting Machine Market Evolution: Historical Analysis and Future Projections
The global laser cutting machines market size is expected to reach USD 10,351.0 billion by 2030, registering a CAGR of 5.5% over the forecast period, according to a study conducted by Grand View Research, Inc. Over the forecast period, it is anticipated that the growing trend of automation in the manufacturing sector and the rising demand for the end-use industry will increase demand for these machines. The growing application of CO2, fiber, and Yttrium Aluminum Garnet (YAG) lasers in various applications, such as industrial sectors and consumer electronics, is predicted to boost the demand for laser cutting machines. Industries such as consumer electronics are contributing to the market growth owing to the increasing use of lasers in material processing operations such as pruning, welding, and engraving. Furthermore, the requirement for high-power input and performance-based cutting tools drives demand and market growth for laser cutting machines over the forecast period.
Laser Cutting Machines Market Report Highlights
During the forecast period, the gas laser technology segment is expected to witness the highest CAGR of 6.1 %. The growth is attributed to the increasing demand for these lasers for better machine tools and equipment for laser printing, dye laser pumping, reading barcodes, and producing holograms
The fusion cutting is expected to register the highest CAGR of 6.1 % from 2023 to 2030. The advantage of fusion cutting is that it creates a cutting edge that is practically oxide-free and ideal for cutting thin sheets, which is expected to contribute to the growth of the segment
Over the course of the forecast period, the industrial sector is expected to dominate the laser cutting machine industry. It held a market share of 39.8 % in 2022. The need for laser cutting equipment is rising as industrial processes increasingly become automated. These tools consistently and quickly cut parts and patterns with precision
The rising GDP and quickening growth of the region's manufacturing sector, the Asia Pacific region is anticipated to continue growing. Additionally, businesses that use laser cutting to create semiconductors, consumer electronics, and automotive components are experiencing rapid regional growth. The need for laser cutting equipment in this area is rising along with the expansion of these industries
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The development of innovative process lasers to maximize the manufacture of tailored three-dimensional glass elements, as well as a shift out of traditional semiconductor lasers and towards quantum cascade lasers, will likely drive up the demand for laser cutting machines. Continuous developments in laser technology enable manufacturers to engage in R&D to obtain a competitive advantage. Furthermore, due to the demand for high-speed and precision cutting and drilling the integration of the Internet of Things, Artificial Intelligence, and automation software with drilling machines is also supporting the laser cutting machine industry’s growth.
Major players are resorting to strategies such as product launches, mergers & acquisitions, and expansions to gain greater market shares. For instance, in May 2022, Yamazaki Mazak Pvt. Ltd. announced the launch of 3D based fiber laser cutting machine for cutting steel products- FG -400 NEO. The 3D laser is equipped with an efficient laser fiber oscillator which offers efficient energy conversion and enhanced productivity.
The laser is also compatible with cutting copper, brass, and aluminum. The laser is outfitted with a feature that enables users to easily modify the laser beam's diameter and form, enabling the cutting of sheets of different thicknesses. The oscillator's maximum output is limited to 4 kW, along with a rapid input rate on the X, Y, and Z axes is 60, 36, and 30 m/min, respectively. The continuous launch of advanced products is contributing to the laser cutting machine industry’s growth.
