The laser cutting machine market share in the US will post an incremental growth of USD 78.85 million, progressing at a CAGR of 3% during the forecast period. The increasing focus on automating the metal-cutting process will offer immense growth opportunities to market vendors. The laser cutting machine market in the US is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Laser Cutting Machine Market in the US by Product and End-user - Forecast and Analysis 2020-2024” provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus.
The laser-cutting machine market in the US is segmented by product (fiber, solid-state, diode, and others) and end-user (automotive, aerospace and defense, electrical and electronics, industrial machinery, and others).
The growth of the laser cutting machine market size in the US fiber segment will be significant during the forecast period. Factors such as technological advances, eco-friendly technology, and growing industrial applications, are expected to contribute to market growth during the forecast period.
The increasing focus on automating the metal-cutting process will directly influence the laser-cutting machine market in the US. In addition, the rising digitalization in manufacturing processes is one of the major laser-cutting machine market trends in the US that will positively impact the market growth. However, factors such as the availability of alternate machine tools for metal-cutting applications will hamper the laser-cutting machine market growth in the US.
The market is fragmented due to the presence of several players. Some of the major laser cutting machine market vendors in the US are Coherent Inc., Conzzeta Management AG, DMG MORI Co. Ltd., IPG Photonics Corp., Koike Aronson Inc., Laserline GmbH, Mitsubishi Electric Corp., TRUMPF GmbH + Co. KG, and Wuhan HGLaser Engineering Co. Ltd.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
Download the Free PDF sample report for highlights on the market size, growth momentum, regional growth opportunities, vendor analysis, and other factors influencing the market growth.
Precise market size estimation during the forecast period 2020-2024.
CAGR of the laser cutting machine market in the US forecast during 2020-2024.
Market-level data on units, average selling prices, and values of the laser cutting machine market share in the US.
Prediction of the upcoming trends, drivers, and factors that challenge the growth of the laser cutting machine market in the US.
Laser cutting machine industry growth across the US.
