Laser Cutting Machines Market Size, Demands, Growth and Top Key Players Analysis Report
The global laser cutting machines market size was valued at USD 7.12 billion in 2023 and is expected to grow at a CAGR of 5.7% from 2024 to 2030. It is anticipated that the growing trend of automation in the manufacturing sector and the rising demand for the end-use industry will increase demand for laser cutting to support the laser cutting machine industry’s growth over the forecast period.
Industries such as automotive, electronics, packing, pharmaceuticals, HVAC, and others are increasingly using automated laser cutting machines. Additionally, the end-use sectors widely utilize these machines to produce high-quality goods efficiently. Manufacturers are now able to automate a variety of processes, including laser cutting, owing to the growing trend of automation. These tools produce and cut pieces and patterns precisely; the machines deliver uniform outcomes, due to reduced downtime and the need for energy efficiency, manufacturers are investing in the automation of laser cutting, thus driving the market growth.
Gather more insights about the market drivers, restrains and growth of the Global laser cutting machines market
Laser Cutting Machines Market Segments Highlights:
- Based on technology, the market is divided into solid state lasers, gas lasers and semiconductor lasers. Among these, the solid-state laser cutting machine segment accumulated the largest market share of 43.3 % in 2023.
- The gas laser segment is expected to grow rapidly from 2024 to 2030. A surge in the demand for enhanced laser cutting machine equipment and tools is driving the market for the use of these lasers.
- Based on process, the market is divided into fusion cutting, flame cutting, and sublimation cutting. Among the three, the flame cutting segment held the largest market share of 43.7% in 2023.
- The fusion cutting segment is expected to grow at the fastest CAGR of 6.3% from 2024 to 2030. The fusion laser cutting machine method is suitable for developing and manufacturing electric motors, owing to its ease of cutting structural steel and electrical sheets.
- Based on application, the market is categorized into consumer electronics, industrial, defense and aerospace, automotive and other. Among these, the industrial segment held the largest market share of 39.7% in 2023.
- The consumer electronics segment is expected to grow at the fastest CAGR of 6.4% from 2024 to 2030. These lasers cutting machines are deployed in consumer electronics and other devices for cutting and welding.
- North America held more than 25.0% share in 2023. The U.S. contributed the regional growth and held the largest market share of 73.7% in 2023.
- Europe held a market share of 19.8% in 2023 and is expected to grow at a CAGR of 5.1% from 2024 to 2030. Presence of countries such as Germany and France which are increasingly emphasizing on developing advanced manufacturing technologies has driven the market in recent years.
- The Asia Pacific region held the largest market share of 39.7% in 2023 and is expected to grow at a CAGR of 6.5% during the forecast period. The growing presence of consumer electronics and automotive manufacturers in the region is expected to further propel the market growth.
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Laser Cutting Machines Market Segmentation
Grand View Research has segmented the global laser cutting machines market based on technology, process, application and region:
Laser Cutting Machines Technology Outlook (Revenue, USD Million, 2020 - 2030)
- Solid state lasers
- Gas lasers
- Semiconductor lasers
Laser Cutting Machines Process Outlook (Revenue, USD Million, 2020 - 2030)
- Fusion cutting
- Flame cutting
- Sublimation cutting
Laser Cutting Machines Application Size Outlook (Revenue, USD Million, 2020 - 2030)
- Automotive
- Consumer electronics
- Defense and aerospace
- Industrial
- Others
Laser Cutting Machines Regional Outlook (Revenue, USD Million, 2020 - 2030)
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Latin America
- Brazil
- Middle East and Africa (MEA)
- South Africa
- South Arabia
- UAE
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