LONDON--(BUSINESS WIRE)--#GlobalMediumandHighCapacityLaserCuttingMachinesMarket--The new medium and high capacity laser cutting machines market research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
Get detailed insights on the COVID-19 pandemic crisis and recovery analysis of the medium and high capacity laser cutting machines market.
"One of the primary growth drivers for this market is the increasing need to develop superior-quality products,” says a senior analyst for the industrials industry at Technavio. The vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the medium and high capacity laser cutting machines market size to grow by USD 1.10 billion during the period 2020-2024.
Medium and High Capacity Laser Cutting Machines Market Segment Highlights for 2020
- The medium and high capacity laser cutting machines market is expected to post a year-over-year growth rate of 1.48%.
- Based on the end-user, the automotive segment saw maximum growth in 2019. The popularity of fiber laser machines will continue to increase since they do not require expensive optical mirrors and other moving parts to position the light on material.
- The growth of the segment will be significant during the forecast period.
- 51% of the growth will originate from the APAC region.
- Factors such as rapid industrial and economic development will significantly drive medium and high capacity laser cutting machines market growth in this region over the forecast period.
- China and Japan are the key markets for medium and high capacity laser cutting machines in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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Global Laser Cutting Machine Market- The laser cutting machine market is segmented by product (fiber, solid-state, diode, and others), end-user (automotive, aerospace and defense, electrical and electronics, industrial machinery, and others), and geography (APAC, Europe, MEA, North America, and South America). Click Here to Get an Exclusive Free Sample Report
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- The medium and high capacity laser cutting machines market size is expected to accelerate at a CAGR of almost 5% during the forecast period.
- The medium and high capacity laser cutting machines market is segmented by end-user (Automotive, Aerospace and Defense, Electrical and Electronics, Industrial Machinery, and Others), geography (APAC, Europe, North America, South America, and MEA), and product (fiber laser, CO2 laser, solid-state laser, and others).
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including Bystronic Laser AG, CINCINNATI Inc., Coherent Inc., DANOBAT GROUP S. Coop., IPG Photonics Corp., Laser Photonics, Mazak Optonics Corp., PRIMA INDUSTRIE Spa, TRUMPF GmbH + Co. KG, and Universal Laser Systems Inc.
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