U.S (New York) – New research study titled “Laser Cutting Machines Market” for the year 2023, encompassing various aspects such as industry size, market share, growth analysis, segmentation, leading manufacturers and innovations, key trends, market drivers, restraints, regulatory framework, distribution methods, opportunities, strategies, potential roadmap, and annual forecasts until 2031. The primary objective of this market research study is to thoroughly examine the industry, enabling businesses to gain comprehensive insights into the sector and its economic potential. By leveraging accurate statistical research data provided by Report Ocean 2023 to 2031, your business can experience accelerated growth. This report also delves into PESTLE & SWOT analysis, Porter’s Five Forces Analysis, and provides crucial information including expenditure, costs, revenue, and end-users. With over 150+ pages, the document offers a comprehensive table of contents, 180+ figures, tables, charts, and insightful analysis.
The global Laser Cutting Machines market is expected to reach $5.7 billion by 2022, growing at a CAGR of 9.3% from 2016 to 2022. Laser cutting machines involve casting a laser beam on the work piece to melt it, and subsequently evaporate the targeted area by heating it with the help of laser. The need for accurate and precise machining in various manufacturing industries such as automotive, defense, and micro-electric drives the market for the laser cutting machines market. Increase in demand for products that require such precise machining process along with rapid industrialization process boost the laser cutting machines market.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Further, there is an increase in the need for automation, with its more accurate machining application to quicken the process. The market is restricted by high capital investment required for the use of laser cutting machines. Substitutes such as plasma cutting and water-jet cutting machines are also available, which pose a threat for the market. Future growth opportunities are expected to be offered through improvement in technology that will enhance operational safety and cost effectiveness of laser cutting machines
The global laser cutting machine market is segmented into different segments based on technology, process, end users, and geography. Based on technology, the market is divided into solid-state lasers, gas lasers, and semiconductor lasers. Based on processes, the market is classified into fusion cutting, flame cutting, and sublimation cutting. Based on end users, the market is segmented into automotive, consumer electronics, defense and aerospace, industrial, and others. Based on geography, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
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POTENTIAL BENEFITS FOR STAKEHOLDERS
The report gives extensive details about the current and possible future scenarios of the laser cutting machines market.
The report covers in depth study about the various strategies adopted by the companies involved in the market and the new emerging strategies.
The report provides Porter’s Five Forces analysis to understand all the factors that affect the market.
This report provides in depth quantitative analysis about the current market and predicts the future behavior, which assists in finding new market opportunities.
This report provides comprehensive segmentation of the market along with the leaders of different categories.
KEY PLAYERS
Coherent Incorporation
Jenoptik Laser GmbH
ALPHA Laser GmbH
Bystronic Incorporated
Epilog Laser Inc.
IPG Photonics Corporation
Trumpf GMBH + Co. KG
Amada Miyachi Company, Ltd.
KEY MARKET SEGMENTS
The market is segmented based on technology, processes, end user, and geography.
BY TECHNOLOGY
Solid-State Lasers
Gas Lasers
Semiconductor Lasers
BY PROCESS
Fusion Cutting
Flame Cutting
Sublimation Cutting
BY END USER
Automotive
Consumer Electronics
Defense and Aerospace
Industrial
Others
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BY GEOGRAPHY
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
China
India
South Korea
Japan
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Market Dynamics:
Surging air traffic: As the global aviation industry continues to expand, there is a corresponding increase in market demand.
Heightened emphasis on safety and reliability: The aerospace and defense sector places significant importance on ensuring safety and reliability, which drives the need for top-notch market offerings.
Growing commitment to environmental sustainability: The aerospace and defense industry is increasingly dedicated to reducing its carbon footprint, resulting in the adoption of sustainable aviation fuels.
Escalating globalization: The growth of international trade and travel propels the demand for market solutions.
Increasing desire for private air transportation: The rising number of affluent individuals and their preference for exclusive air travel are generating fresh opportunities in the market.
Expanding utilization of digital fuel management systems: The integration of digital fuel management systems facilitates efficient fuel consumption and reduces associated costs.
Advancements in fuel cell technology: Ongoing developments in fuel cell technology unlock new possibilities for the production of sustainable market alternatives.
Mounting demand for air cargo transportation: The flourishing e-commerce sector fuels an increasing need for air cargo transportation, thereby driving the demand for market offerings.
Rising defense budgets: Governments worldwide are augmenting their defense spending, leading to heightened market demand.
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