The worldwide laser cutting machines market was predicted at about USD 2.2 billion in 2013. It is anticipated to observe a size of around USD 4.4 billion by 2020. The market is projected to rise at around 10 percent CAGR during the forecast phase. This phase continues from 2014 to 2020. Laser cutting machines make use of laser beams to cut various substances.
The substances may vary from plastic to acrylic and fabric to wood. Laser cutting machines, at first, throw laser beams on the exterior region of a substance, liquefy and at last, dissolve it. These machines enhance work effectivity, speed up cutting and decrease the expenditures. The supportive features of laser cutting machines portend well for the laser cutting machines market and push it further.
Laser cutting machines are extensively used to make non-metal and metal substances go through processing procedures. Rising manufacture of automobiles and increased demand for aesthetics are projected to drive demand for the laser cutting machines market. Preference for laser cutting machines over other alternative cutting devices is also a leading factor, increasing demand for the laser cutting machines market.
The worldwide market is fragmented on the basis of technologies, geographies, procedures and consumers. Gas lasers, solid state lasers and semiconductor lasers are the various technologies. Europe, Asia Pacific, North America and rest of the world are the four regions. Flame cutting, fusion cutting and sublimation cutting are the different procedures of the laser cutting machines market. Consumer electronics, automotives, industrial, defense and aerospace and others are the different consumers.