The global laser cutting machine market at a CAGR of almost 5% during the forecast period

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Aug 14, 2019, 09:35 ET

NEW YORK, Aug. 14, 2019 /PRNewswire/ --

Global Laser Cutting Machine Market: About this market

Laser cutting machines have high-power lasers that can vaporize a range of materials, from steel to plastic with a high level of precision. This laser cutting machines market analysis considers sales from fiber, solid-state, diode, and others. Our analysis also considers the sales of laser cutting machine in APAC, Europe, North America, South America, and MEA. In 2018, the fiber segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as technological advances and growing industrial applications will play a significant role in the fiber segment to maintain its market position. Also, our global laser cutting machine market report also looks at factors such as increasing focus on automating the metal cutting process, rising demand for fiber laser cutting machines, growing investment in aerospace and defense industry. However, availability of alternate machine tools for metal cutting applications, decline in sales of automobiles, increasing demand for refurbished laser cutting machines may hamper the growth of the laser cutting machine industry over the forecast period. Download the full report:

https://www.reportbuyer.com/product/2564866/?utm_source=PRN Global Laser Cutting Machine Market: Overview

Increasing focus on automating the metal cutting process

The metal cutting process is mechanized, and various steps are being initiated by vendors to produce automated cutting machines. The increasing need to meet market demands for optimized flexibility and personalization in terms of product design and proportions in the cutting process has enabled integration across all production steps. This integration is now prominent among all functions within and outside a company floor. Individual standalone laser cutting machines can now be integrated into the production flow using automated software; this enables large industrial plants to partially shift toward unmanned production processes, which ensures high performance with a reduction in human resource requirement. This increasing focus on automating metal cutting process will lead to the expansion of the global laser cutting machine market at a CAGR of almost 5% during the forecast period.

Rising digitalization in manufacturing processes

Vendors are focusing on developing a connected device and streamlining the complete manufacturing process with the use of industrial internet of things (loT). loT comprises a network of physical objects with an IP address, which allows it to connect to the internet, it also includes communication between these objects and other internet-enabled devices. loT is an internet network that extends beyond conventional devices, such as laptops, desktop computers, and tablets. This development is expected to have a positive impact on the overall market growth.

Competitive Landscape

With the presence of several major players, the global laser cutting machine market is fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading laser cutting machine manufacturers, that include Coherent Inc., Conzzeta Management AG, Han's Laser Technology Industry Group Co. Ltd., IPG Photonics Corp., and TRUMPF GmbH + Co. KG.

Also, the laser cutting machine market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

Download the full report:

https://www.reportbuyer.com/product/2564866/?utm_source=PRN

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