Global Laser Cutting Machine Market Analysis with COVID-19 Recovery Plan and Strategies for the Industrials Sector | Technavio
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
Fiber
Solid-state
Diode
Others
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 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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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
Customer landscape
Overview
Geographic Landscape
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
Vendor Landscape
Overview
Landscape disruption
Vendor Analysis
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
Appendix
Scope of the report
Currency conversion rates for US$
Research methodology
List of abbreviations
About Technavio
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 17,000 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.
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