The Global Tube Laser Cutting Machine Market is expected to grow at a CAGR of 5.9% during the forecasting period (2022-2029).
Tube Laser cutting is a technology that uses lasers such as CO2, fiber and others to cut materials. Tube Laser cutting machines are capable of cutting materials ranging from steel to plastic with absolute precision. It is an important manufacturing tool required by industries to manufacture components with complex geometry, such as a machine tool industry, automotive industry, consumer electronics and other manufacturing industries
The report covers all the major trends and drivers playing a vital role in the growth of the global tube laser cutting machine market. The global tube laser cutting machine market has been segmented based on product, process, power, pipe/tube diameter, cutting material, application, end-user and region
The global tube laser cutting machine market is primarily driven by the high rise in automation owing to the demand for standard quality products all around the world. The increasing production activities all around owing to the rising demand is enabling the production facilities for installation of tube laser cutting machine which work with high precision with very low wastage. The firm are installation new laser cutter machine to increase production too
For instance, in July 2019, BYSTRONIC launched a new model of tube laser cutting machine under brand name ByTube 130 which is available in two models of 2KW and 3KW
However, the high installation cost and the availability of substitute machines will be hampering the growth of the tube laser cutting machine
By product, the global tube laser cutting machine market is segmented into Fiber laser, CO2 laser and Others. Fiber laser has the dominant position in the tube laser cutting machine market due to technological advances, growing industrial applications and eco-friendly nature. Fiber tube laser cutting machines can work upon both metals and non-metals. CO2 laser tube laser cutting machine demand is increasing owing to its quick cutting efficiency and is expected to grow with a decent CAGR in the forecast period. It is expected that Fiber laser cutting will grow at a CAGR of ~XX% during the forecast period
By process, the global tube laser cutting machine market is segmented Fusion Cutting, Flame Cutting, and Others. Flame cutting has higher dominance in the process segment of tube laser cutting machine as they have huge demand in tube cutting industries. However, fusion cutting process segment will be growing with decent CAGR for the forecast period
By geography, the global tube laser cutting machine market is segmented into North America, Asia-Pacific (APAC), Europe, South America and Middle East and Africa (MEA)
APAC holds the largest market share for tube laser cutting machine market due to economy rise and growing manufacturing industries like consumer electronics and automotive in the region. China and India have high demands for tube laser cutting machines owing to the rise in production of automotive.
However, North America is after APAC in terms of the market share of tube laser cutting machine market due to increase in due to high technological advancement and the higher adoption of technologies such as laser cutting. The other major reason is presence of leading automotive manufacturers. The rise in the production and the investments for new production facilities of automotive in the region is expected to grow the tube laser cutting market in the forecast period. Honda completed more than US$ 174 million in expansion and innovation activities at its U.S. plants in 2018, totaling US$ 5.9 billion new capital investments in Honda's U.S. production operations undertaken over the past five years
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