- A laser cutting machine uses laser technology (laser ray) to cut materials with precision and is primarily used in industrial manufacturing applications.
- Laser are highly flexible and can create cuts without numerous endeavors. In addition, a laser cannot perform tasks, and to connect this gap punching machines are required.
- Punch laser machine can perform a wide range of activities, for instance, thread cutting, twisting, deforming progressively, and so on.
- A punch laser machine is used to build hole-intensive parts quickly. Increasing number of companies are investing in process automation in order to enhance their productivity and profitability. This is expected to drive the demand for punch laser machines in the upcoming years.
- Punching and laser cutting machines abolish the need for secondary operations and the changeover between cutting and punching is efficient and does not require any human involvement.
Punch Laser Machine Market Dynamics
- The rapid emergence of automation in the industrial sector has significantly contributed to the growth of the punch laser machine market.
- Increasing use of metal fabrication due to adoption of industrial automation across different end-use industries including automotive, construction, energy and other related industries has fueled the demand for punch laser machines, thus encouraging the growth of the market.
- The demand for punch laser cutting machine is expected to grow due to its high cutting and processing speed as compared to other machines.
- Moreover, increasing R&D investment in photonics or light-based technologies is expected to be a major trend contributing to the growth of the punch laser machine market in the coming years.
- Punch laser machines are utilized to manufacture machines and structures and with more large scale and small scale companies investing in the process automation for improving their efficiency and keeping up their profitability, the demand for punch laser machines is expected to increase during the anticipated period.
- However, limited availability of after sales service causes hesitation among users regarding adoption of punch laser machine, thereby hindering the punch laser machine market in the upcoming years.
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Punch Laser Machine Market: Segmentation Analysis
- Based on product, the global punch laser machine market can be divided into fiber laser, CO2 laser, and solid-state laser.
- The fiber laser segment accounted for the largest share in 2018. This product segment is projected to maintain its dominance in the global market throughout the forecast period.
- Based on end-use, the global punch laser machine market can be segmented into lean manufacturing, flexibility, automation, and process output.
- Lean manufacturing is considered to be the primary end-use segment of the punch laser machine market. Lean manufacturing improves the manufacturing process, reducing the most common reasons for wastage and decreases the time to manufacture the product.
Asia Pacific to Lead the Global Market for Punch Laser Machines
- In terms of region, the global punch laser machine market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- Asia Pacific is likely to witness the maximum demand for punch laser machines from 2019 to 2027 followed by North America and Europe.
- Small and medium size enterprises are increasingly adopting automated technologies in their production process to improve overall output and efficiency of production in the region. Moreover, increasing demand for fast and efficient production has augmented the growth of punch laser machine in this region.