Market Research Future (MRFR)’s latest research study suggests that the laser cutting machines market 2020 can advance at a decent rate of 9% between 2018 and 2023 (appraisal period). We will provide covid-19 impact analysis with the report. The COVID-19 impact research offers an in-depth analysis post the coronavirus disease outbreak. —
Prominent vendors identified in the report include Epilog Laser Inc.(US), LancerFab Tech Pvt. Ltd(India).,Coherent, Inc.(US), Trumpf GMBH (Germany), Universal Laser Systems(US), Trotec Lasers(US), Jiangsu Dajin Laser Science and Technology Co.,Ltd.(China), MKS Instruments(US), IPG Photonics Corporation(US), Jenoptik Laser GmbH(Germany), Bystronic Incorporated(US), Amada Miyachi Inc (US), Han's Laser Smart Equipment Group Co., Ltd(China), Xenetech(US), Alpha Laser (US), to list a few.
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With the world is grappling with the after effects of SARS-CoV-2, countries have moved into recession. The industrial automation equipment industry, with its extensive production along with deeply interconnected supply chain, has been drastically impacted. Banks across economies are introducing easier lending terms and rate cuts to facilitate liquidity. Governments have come up with fiscal support measures such as soft loans, tax cuts and direct disbursement to deal with the economic crisis. However, vulnerabilities in the supply chain have been laid bare by the current situation, in the face of the lockdown measures and the shutting down of automation plants.
Even as countries are struggling to achieve a COVID-19 breakthrough, the pandemic is rapidly revealing significant challenges for the automation sector. The industrial automation equipment sector is now faced with slow growth in line with downfall of industrial production and declining capital expenditure. COVID-19 has led to closing down of factories, and workers being absent from plants and factories to avoid the spread of the virus. There is a key point to be noted in this scenario, that advanced industrial automation has not managed to completely replace humans. The novel coronavirus has left a debilitating effect on the laser cutting machines market, which could take a long time to recover in the long run.
Incodema, a renowned laser cutting machine manufacturer has been selected by New York’s Cayuga Medical Center to make face shields. Incodema is expected to manufacture face shields that can be sanitized as well as reused. The face shields will be made using 4 kW Mitsubishi 3015LVPS-40CF fiber laser-cutting machine by the company.
Top Drivers and Prime Restraints
Escalation in sales in respective markets of consumer electronics, defense and automotive has led to a higher need for laser cutting machines at the manufacturing level in factories. The emerging trend of automation within the manufacturing sector along with the mounting demand in end-use industries can benefit the worldwide market in the following years.
The rapid globalization has boosted the consumer demand for micro precision of products. Apart from this, laser cutting machines help manufacture top-quality products in a short period, which further induces higher demand across end-use industries. The leading industry players are working on bringing down the cost of their machines in the face of the intense rivalry between vendors, which could help laser cutting machine gain favor among price sensitive consumers.
Mounting production level of automobiles along with the rising consumption of consumer electronics worldwide accounts as a lucrative opportunity for the laser cutting machine market. The soaring demand for advanced and higher quality products in the defense industry also aids in the market growth across the globe.
The laser cutting machines industry has been considered for technology, process as well as end user.
The technologies covered in the market study are gas lasers, semi-conductor lasers and solid-state lasers. The solid state lasers generate the highest demand in the market, with extensive applications in the healthcare industry since they offer better beam quality along with elevated level of processing flexibility.
The process-wise categories include flame cutting, sublimation cutting and fusion cutting.
The primary end-users in the industry are Consumer electronics, automotive, Industrial, Defense and aerospace, and others. Laser cutting machines are largely deployed in consumer electronics applications as well as space research operations, which boosts the market growth rate to a great extent. However, the automotive sector is expected to lead the global market and also achieve the fastest growth rate, thanks to the increasing sale of automobiles in line with evolving consumer lifestyle as well as higher disposable income among people.
The regional categorization of the laser cutting machines market comprises Europe, North America, APAC or Asia Pacific and Rest of the World or RoW.
In 2016, the top market for laser cutting machines was owned by North America, followed by APAC and Europe. The heightened demand for automobiles and the strong industrial based in the United States (US) are some of the chief growth inducers in the regional market. Moreover, fierce rivalry between leading industry participants leads to development of more advanced products that are innovative and offer quicker cycle times for engraving and cutting processes. Strategic partnerships and investments are also expected to lead the market to higher levels in the years to come.
APAC can be the fastest-advancing market, as a result of the growing automobile sales in China, India, as well as Japan. The high uptake of laser cutting machines in the manufacturing industry and the overall expansion of industries like consumer electronics, automotive components and semiconductors can also warrant significant market growth during the give timeline.
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Browse Complete Report "Global Laser Cutting Machines Market Information Report, By Technology (Solid state lasers, Gas lasers, Semiconductor lasers), By process (Flame cutting, Fusion Cutting, Sublimation), By End User (Automotive, Consumer electronics, Defense and aerospace, Industrial and Others) and By Region - Forecast To 2023" @ https://www.marketresearchfuture.com/reports/laser-cutting-machines-market-6894
Name: Abhishek Sawant
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Organization: Market Research Future (MRFR)
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Release ID: 88961931