October 18, 2022 05:30 ET | Source: Market Research Future Market Research Future
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New York, US, Oct. 18, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “CNC Fiber Laser Market: Information by Product, End User, Application, Type, and Regio—Forecast till 2030, the market is anticipated to acquire a valuation of approximately USD 2,546.6 Million by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 7.1% during the assessment timeframe.
CNC Fiber Laser Market Overview:
A CNC laser cutter refers to a part of computer numerical control (CNC) equipment marking, engraving, or cutting a material to form custom shapes utilizing a focused, high-powered laser beam. It is believed to be a one-of-a-kind design, making it highly accurate, particularly when cutting intricate shapes and small holes. CNC laser cutting refers to a non-contact, thermal-based process. This lens and head assembly focus a laser beam on the workpiece using a nozzle, cutting and melting the workpiece to make the desired shape. Compressed gas is utilized in CNC lasers to cool the focusing lens and banish the vaporized metal from the workpiece. The global market for CNC fiber lasers has recorded massive growth in the last few years. The main parameter supporting the market's growth is the growing demand for semiconductor production equipment, telecom communication devices, medical devices & Electric Vehicles (EV). Furthermore, the rising demand for five-axis mill machines and ultra-precision machines is also predicted to influence the market's growth over the coming years.
CNC Fiber Laser Market Competitive Analysis
The catalog of prominent participants across the global CNC fiber laser market includes players such as:
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CNC Fiber Laser Market Report Scope:
CNC Fiber Laser Market Drivers
The global CNC fiber laser market has recorded massive growth in the last few years. The primary aspect supporting the market's growth is the growing implementation of automation technologies among developing nations such as Cambodia, Vietnam, Mexico, Brazil, and India. The COVID-19 pandemic has generated a rise in demand for essential equipment, with CNC producers being declared the central aspect of vital services. Industrial design organizations depend on CNC machines to produce PoS units, educational & play equipment, modular kitchens, and furniture, which in turn is anticipated to catalyze the market's growth over the coming years.
CNC Fiber Laser Market Restraints
On the other hand, the complex process needing a high level of finesse & expertise may restrict the market's growth.
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The world has been through several significant changes, given the arrival of the global health crisis in the form of COVID-19, which ended up impacting most of the industry across the globe. Like every other market area, the global market for CNC fiber lasers has also experienced some unexpected challenges during the pandemic. But by the end of 2020, the market has picked up the pace. On the other hand., with all the industrial and financial activities returning to normal, the global market for CNC fiber lasers is predicted to increase over the coming years.
CNC Fiber Laser Market Segment Analysis
Among all the types, the CNC lathe machines segment is predicted to hold the top spot across the global CNC fiber laser market over the review era. The segment's growth is credited to the factors such as growing demand from the automotive sector, technological advancements, and ongoing semiconductor shortages.
Among all the end-use sectors, the industrial segment is anticipated to secure the top position across the global CNC fiber laser market over the coming years. the segment's growth is credited to the aspects such as increasing demand for fully automated & turnkey CNC machines, a surge in EV sales, and rise in demand for the processing of ultra-precision parts for EVs.
CNC Fiber Laser Market Regional Analysis
The global CNC fiber laser market is analyzed across five major regions: Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.
The research reports by MRFR, the Asia-Pacific region is predicted to hold the top spot across the global CNC fiber laser market over the review era. The region dominated the industry globally in the year 2021. The primary parameter supporting the growth of the regional market is the growing labor costs in the region, causing a rise in the implementation of CNC Fiber Laser/Laser over the traditional machining process. Furthermore, the rising investments in the aerospace & defense industry are also predicted to boost the growth of the regional market over the coming years. the region is also known for being the early adopter of advanced technologies, which is also likely to boost the growth of the regional market over the review era. Moreover, the escalation in manufacturing outsourcing services for industrial equipment is also anticipated to catalyze the regional market's growth over the forecasted era. In addition, factors such as low operational costs, the abundance of low-cost raw materials, and the rising population across the region are also likely to increase the demand for CNC fiber lasers over the evaluation period.
The CNC fiber laser market for the European region is anticipated to show substantial growth over the coming years. the main parameter supporting the growth of the regional market is the rise in the implementation of advanced technology. Furthermore, the growing import and export activities across the region are another prime aspect boosting the regional market's growth. In addition, the region is believed to be a home for the automotive industry because of the presence of prominent manufacturers with high production capacities, like Volvo, BMW, and Audi. The region has nations such as France, Italy, Germany, and Central and Eastern Europe as leading growth contributors. Moreover, the labor shortage prompting metalworking companies to boost their investment in automation to improve the efficiency of their CNC machines is another vital parameter supporting the growth of the regional market.
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