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PUNE, India, Dec. 17 2020 /PRNewswire/ —
- Global laser machine tools market was valued at US$ 2799.51 million in 2019 and is expected to reach US$ 6901.18 million by 2028, growing at an estimated CAGR of 12.09% over the forecast period.
- In order to produce products which fit with the regulatory requirements imposed by government authorities, these players are engaged in research and development activities.
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- The intense competition helps Laser Machine Tools Market players to produce creative, efficient goods that have faster cycle times for the process of cutting and engraving. It is anticipated that strategic acquisitions and alliances would be the most successful way to gain fast access to emerging markets.
- High power laser-cutting continues to progress, the trend is to improve efficiency and throughput through high-power lasers. 6kW and higher laser machines are also providing thicker cutting ranges, increased cutting speeds and improving the quality of parts edge.
- The use of laser machines in electronics is increasing and these lasers are used in consumer electronics and other consumer goods for welding and cutting. For printed circuit boards, iPhone display cases, etc., laser-based machines are extensively used. The short shelf life of these devices is expected to increase the demand for laser machines.
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- Asia Pacific is the major Laser Machine Tools Market due to growing electronics sector. In countries like China, Japan and India are major electronics market. Adoption of laser machines in the electronics industry in these countries will spur the demand for laser machine tools in this region. North America is also expected to grow significantly in the future years owing to technological innovations and improvements.
- The major players operating in the laser machine tools market include ALPHA Laser GmbH, Amada Miyachi Company, Coherent Inc., Epilog Laser Inc., Hans Laser Technology Industry Group Co. Ltd., IPG Photonics Corporation, Koike Aronson Inc., Rofin-Sinar Technologies Inc., Trumpf Laser GmbH + Co. KG, and other market participants.
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