The Asia Pacific Laser Cutting Machines Market would witness market growth of 5.5% CAGR during the forecast period (2023-2029).
The increased human-machine connection facilitated by Industry 4.0 is boosting quality, productivity, and energy efficiency, thereby contributing to the growth of laser-cutting machine sales. In addition, the early notification of the status of machine operation provided by predictive analysis encourages manufacturers to invest in industry 4.0 solutions by drastically reducing maintenance and replacement costs, which is anticipated to stimulate market expansion.
The emergence of fiber laser cutting is anticipated to boost the growth of the market. Fiber laser cutting devices are frequently utilized in macro-processing applications requiring millimeter-level accuracy, such as the cutting and welding of industrial metals. Given the increased demand for laser equipment, macro processing has a greater market potential than micro processing. As a result of their high output power, fiber lasers are widely utilized in macro processing, which refers to the processing of objects with a laser beam influence range of millimeters or more. This type of processing is commonplace with fiber lasers.
By 2025, China's domestic automobile production will exceed 35 million units. More than 25 million vehicles, including 19.9 million automobiles, were sold in 2020. An increase in vehicle sales facilitates an increase in auto maintenance products. However, even during COVID-19, the Chinese government implemented several measures to encourage automobile usage. These initiatives include delaying the implementation of the China Six Emission Standard until January 2021, providing fiscal and tax assistance, expediting the phase-out of obsolete diesel trucks, and expanding channels for trading used vehicles. Government assistance to the industry will increase the manufacturing and sales of vehicles, creating new growth opportunities for laser cutting machines for rapid and precise production and propelling regional market growth.
The China market dominated the Asia Pacific Laser Cutting Machines Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $1,035.2 million by 2029. The Japan market is registering a CAGR of 4.9% during (2023 - 2029). Additionally, The India market would experience a CAGR of 6.2% during (2023 - 2029).
Based on Application, the market is segmented into Industrial, Automotive, Consumer Electronics, Defense & Aerospace, and Others. Based on Technology, the market is Solid State Lasers, Gas Lasers, and Semiconductor Lasers. Based on Process, the market is Flame Cutting, Fusion Cutting, and Sublimation Cutting. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Laser Cutting Machines Market is Projected to reach USD 9.5 Billion by 2029, at a CAGR of 5.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AMADA CO., LTD., TRUMPF SE + Co. KG, FANUC Corporation, Bystronic Laser AG, Coherent Corp., IPG Photonics Corporation, Jenoptik AG, DPSS Lasers, Inc., Epilog Laser, and Kern Laser Systems.
By Application
By Technology
By Process
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