The global laser cutting machine market size accounted for USD 3,778 million in 2024 and is expected to exceed around USD 6,702 million by 2034, growing at a CAGR of 5.9% from 2024 to 2034.
The laser cutting machine market refers to the production, distribution, and use of this machine, which is a precision tool that uses a high powdered laser beam to produce laser engraver and cutter materials with outstanding rapidity and accuracy. It uses high-power-density laser beams to irradiate the work piece surface, causing the materials to melt, evaporate, and undergo chemical reactions. Cutting metal is the most common application of laser cutting and is used on materials including stainless steel, brass, nickel, aluminum, and tungsten. There is a high demand for this machine in the cabinet industry, jewelry, home appliance, aerospace, medical device, automobile industry, and fitness equipment industry, which drives the growth of the laser cutting machine market.
However, the challenging factors of the market include the high cost of laser machines, significant initial investment required, and technological constraints that can limit the growth of the market. The future scope of the market includes a focus on environmental sustainability, expansion of end-user industries, increasing customization, advancement in technology, innovation in laser technology, and increasing investment in research and development that will help the growth of the laser cutting machine market.
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| Stats ID: | 7507 |
| Format: | Databook |
| Published: | January 2025 |
| Delivery: | Immediate |
| Stats ID: | 7507 |
| Format: | Databook |
| Published: | January 2025 |
| Delivery: | Immediate |
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