According to a new report, published by KBV research, The Global Laser Cutting Machines Market size is expected to reach $9.5 billion by 2029, rising at a market growth of 5.2% CAGR during the forecast period.
The Consumer Electronics market is exhibiting a CAGR of 5.6% during (2023 - 2029). This is because these laser cutting machines are used for cutting and welding in consumer electronics and other products. Printed circuit boards, phone displays, and casings are typically cut using laser-based technology. Additionally, because these devices have limited shelf life, demand for the equipment will be predicted to increase over the projected period. In consumer electronics, materials, including plastics, foam, rubber, and other non-metallic things, are sliced using laser cutting devices, which is propelling the segment's expansion.
The Solid State Lasers market is leading the Global Laser Cutting Machines Market by Technology in 2022 thereby, achieving a market value of $4.3 billion by 2029. This is due to the increasing use of precision cutting in the automotive, pharmaceutical, and optical industries. Flexibility, low energy consumption, high efficiency, shorter wavelength, and low cost are all features of solid state laser cutting machines that encourage segmental expansion. Furthermore, due to the technology's widespread use in medical disciplines like endoscopy, dentistry, and skin rejuvenation the segment growth will surge.
The Fusion Cutting market has shown the growth rate of 5.6% during (2023 - 2029). This is due to its simplicity in cutting structural steel and electrical sheets. The fusion laser cutting machine method is appropriate for designing and producing electric motors. Also, due to the process's great flexibility and swift cutting speed, the segment is projected to expand over the forecast period.
The Asia Pacific market dominated the Global Laser Cutting Machines Market by Region in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $3.7 billion by 2029. The Europe market is experiencing a CAGR of 4.8% during (2023 - 2029). Additionally, The North America market would witness a CAGR of 4.6% during (2023 - 2029).
Full Report: https://www.kbvresearch.com/laser-cutting-machines-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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