What Is Driving the Global Laser Cutting Market to Expand?
Like other industries, the laser cutting market felt the effects of the Great Recession, and sales of laser machines fell as a result. That trend has reversed itself as the world slowly recovers. In fact, according to the Laser Cutting Machines Market Report, the global laser cutting market is expanding (Source: Global Industry Analysts, Inc.). What’s driving this expansion? Let’s take a look.
Asia-Pacific Growth
The largest worldwide market is the Asia-Pacific region. This region is rapidly industrializing and expanding its manufacturing presence. Asia-Pacific growth is particularly strong in industries that use laser to produce consumer electronics, semiconductors, and automotive components. As these industries expanding the Asia-Pacific region, so too does the need for laser cutting machines. This same effect can be seen in other developing nations such as Brazil with a strong manufacturing sector.
Recovering Industries
Domestically and around the world, industries such as consumer electronics, aerospace and automobile manufacturing, renewable energy, medical device manufacturing, and semiconductors are recovering. This recovery is reflected in the manufacturing Purchasing Managers Index (PMI) which has stabilized globally.
As growth in global air traffic continues, commercial aviation applications for laser cutting will continue to drive the global laser market. Back on the ground, demand for automobiles in developing nations will drive demand for laser machines to produce automotive components.
The defense industry also relies on the precision of Laser Engraver Company. As conflicts continue around the world, the defense industry will continue to need to produce military defense systems.
Consumer Electronics
The world loves its electronic gadgets such as smartphones, tablets, and eReaders. Laser cutting machines are commonly used to cut everything from printed circuit boards and displays to plastic iPhone cases. Not only are more people buying these gadgets, consumer electronics have a relatively short shelf life. It’s not uncommon for users to trade in their old phones for new ones in just one or two years,
Manufacturing Automation
In order to survive, manufacturers recognize that they must work in the most efficient manner possible. Laser machines enable manufacturers to automate many processes. Not only can laser machines precisely cut patterns and parts, they can do so over and over with consistent results and at high speeds. Laser machines conserve energy, have minimal downtime, and work around the clock. Once programmed and set up, laser machines consistently produce, making automation a smart investment for manufacturers.
According to Coherent, a manufacturer of laser machining tools, laser cutting are “flexible machines [that can be] used to cut a wide range of materials from metals, plastics and composites to paper, ceramics and wood”. Laser machines can be used to precisely cut parts from materials as varied as metals, plastics, composites ceramics, paper, and wood.
Each of these drivers has the potential to make a significant impact on the global laser cutting market. When taken together, growth in developing nations, recovering industries, booming industries, and manufacturing automation combine to drive tremendous growth.