ReportsnReports.com adds Global Laser Cutting Machine Market 2016-2020 latest research report, the laser cutting machine market is highly fragmented, and witnesses the presence of numerous local and international vendors, all engaged in intense competition with each other. The major players in the market are resorting to acquisitions as a strategy to grow their market shares. Further, mergers and acquisitions and strategic alliances are being planned to obtain access to untapped markets. The analysts forecast global laser cutting machine market to grow at a CAGR of 8.91% during the period 2016-2020.
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According to the laser cutting machine market report, many companies implement process automation to enhance their productivity and increase profit margins. The use of automation in ports is a recent trend in the market. For example, the automation of Rotterdam port has resulted in effective management of the largest port in Europe. Other ports have also adopted automation with the aim of controlling their losses and regulating resources.
Product segmentation and analysis of laser cutting machine market
CO2 laser cutting
Fiber laser cutting
Solid state laser cutting
Technavio analyst predicts that the CO2 laser cutting market will account for the highest revenue during 2015, further to which it will gradually decline during the forecast period due to over-acceptance of technologically advanced fiber laser cutting machines.
Segmentation by end-user and analysis of laser cutting machine market
Aerospace and defense sector
Electrical and electronics sector
The automotive sector accounted for nearly 19% of the market share during 2015. In the automotive sector, innovations in laser cutting technology, especially high-power laser application have gained acceptance. This can be attributed to the stringent norms in this sector with regard to reliability and quality of beam sources.
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APAC region emerged as the largest market for laser cutting machines in 2015. Due to growing industrial and economic development in the region, many domestic and international companies in the automotive, aerospace and defense, electrical equipment, industrial machinery, and other sectors are investing heavily in this region.
The global laser cutting machine market consists of many local and international players with very less product differentiation. Vendors are focusing more on adding technologically advanced and energy efficient products into their product portfolio. The market is highly competitive, and the competition is likely to intensify further with an increase in R&D innovations and after-sale services in the coming years. The key players in the market are expected to diversify their geographical presence with a focus on APAC during the forecast period.
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Key players in the Global Laser Cutting Machine market: Coherent, IPG Photonics, Newport, Rofin-Sinar Technologies, and Trumpf.
Other Prominent Vendors in the market are: Alpha Laser, Bystronic, DPSS Laser, Prima Industries, Trotec Laser, Universal Laser Systems, and Xenetech Global.
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