- The key vendors in the Global Laser Cutting Machine Market 2015-2019 are Coherent Inc., IPG Photonics Corp., Rofin-Sinar Technologies Inc. and Trumpf Inc.
London, 25 November 2014: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Laser Cutting Machine Market 2015-2019. Aggressive marketing in developing countries declaring the benefits of laser cutting machines in the manufacturing sector has created awareness and in turn increased demand for these machines. Several global laser cutting machine vendors are setting up demonstration centers and exhibitions in the region to increase their market reach. The market is expected to grow at a CAGR of 9.20 percent during the period 2014-2019.
Laser cutting machines are used by companies across industries such as automotive, aerospace and defense, electrical and electronics, industrial machinery, medical device, and energy to increase the ease and efficiency of high-precision product development. Moreover, because of globalization, there is increased demand among customers for products that are accurate to the micron level and companies worldwide are increasingly adopting laser cutting machines to develop high-quality products in minimal time. Rapid industrialization in developing nations such as Brazil, India, and China is boosting the demand for laser cutting machines.
“Increased adoption of laser cutting machines worldwide has led to stiff competition among vendors in the Global Laser Cutting Machine market, which in turn has resulted in a reduction in the overall price of products,” says Faisal Ghaus, Vice President of TechNavio Research.
“The presence of a large number of vendors has also forced them to adopt the pricing strategy of reducing cost to gain market share.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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