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The robotic laser cutting market share is expected to increase by USD 127.47 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 14.61%.
The market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by end-user (automotive Industry, metal Industry, aerospace Industry, and others) and Geography (APAC, Europe, North America, South America, and Middle East and Africa).
The robotic laser cutting market report also offers information on several market vendors, including ABB Ltd., AMADA Co. Ltd., Coherent Inc., DAIHEN Corp., FANUC Corp., Hans Laser Technology Industry Group Co. Ltd., Jenoptik AG, Jinan Style Machinery Co. Ltd., Kawasaki Heavy Industries Ltd., Laser Photonics, MIDEA Group Co. Ltd., Midwest Engineered Systems Inc., Mitsubishi Electric Corp., NACHI FUJIKOSHI Corp., Shenzhen Yuejiang Technology Co. Ltd, Staubli International AG, TRUMPF GmbH Co. KG, Universal Robots AS, Vector Automation Technologies Inc., and Yaskawa Electric Corp. among others.
ABB Ltd. - The company is publicly held and headquartered in Switzerland. It is a global company generating USD 26,134 million in revenues and has around 110,000 employees. Its revenue from the global market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company. The company offers laser cutting which is a non-contact process, that uses a laser beam to cut ferrous materials.
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Technavio categorizes the global market as a part of the global industrial machinery market. Our research report extensively covers external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the robotic laser cutting market during the forecast period.
Based on our research output, there has been a neutral impact on the market growth during and post-COVID-19 era. The increased productivity with improved laser technology is notably driving the market growth, although factors such as lower least count of the accuracy of robotic laser cutting may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Market Driver
The increased productivity with improved laser technology is one of the key drivers supporting the market growth. The switch from traditional laser technology to fibre-based cutting in order to improve cut resolution, cutting speed, control of laser pulse, and the life of the equipment has further increased the capability of laser cutting. Meanwhile, green laser is one of the technologies used to improve the parameters mentioned above. It provides the advantage of absorbing over a 1-micrometre wavelength and can be used with pulsed YAG (yttrium aluminium garnet) or fibre. Furthermore, laser automation adds extra flexibility and capacity, and the nozzle technology leads to energy efficiency. Such advantages are driving the market growth.
Key Market Trend
IoT and Industry 4.0 are other factors supporting the market growth. The interoperability and data readability issues have found better solutions with the advent of IoT. The IoT and Industry 4.0 technologies have revolutionized the world of robotics by streamlining the working of robots with smart factories. Networks of robots can connect to the cloud and provide insightful data. As per industry 4.0, in 2019, Mehta Cad Cam launched a smart fibre laser cutting machine, which is equipped with IoT. The company has equipped IoT sensors in the cutting machine, which will provide live data of the internal parts by smart controllers and will be sent to the service department with the help of cloud service. Thus, the growth of the manufacturing industry in India and other Asian countries will increase the demand for high-precision products, and this will eventually drive the growth of the laser-cutting market.
Key Market Challenge
The lower least count of the accuracy of robotic laser cutting is one of the factors hindering the market growth. Historically, there was an average positioning error of +-5 mm at the EOAT. However, with advances in control modules and software to compensate for the error, accuracy has vastly improved, with a least count of +- 0.05 mm. This has improved the preciseness and effectiveness of robots in cutting applications in industries. However, the accuracy, compared with the least count of +-0.01mm in five-axis laser cutting machines, is a hindrance to the adoption of robotic laser cutting. Although it is anticipated that the required precision in the robotic arm will be attained during the forecast period with advanced controls, it is a major challenge for the global market at present.
This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Our In-house experts produce extensive information on the value chain and parent market of the robotic laser cutting market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies. The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.
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69% of the market's growth will originate from APAC during the forecast period. China, Japan, and South Korea are the key markets for robotic laser cutting in APAC. Market growth in this region will be faster than the market growth in other regions.
The growth in international tourism will facilitate the market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in 2020 had a negative impact on the regional market. However, in 2021, due to the availability of COVID-19 vaccines and the large-scale vaccination drives carried out by the governments of countries in APAC, activities in end-user industries gradually became normal. Therefore, the demand for robotic laser cutting systems increased, which will lead to regional market growth during the forecast period.
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The market share growth by the automotive industry segment will be significant during the forecast period. Robotic laser cutting is used to cut complex vehicle body components in the automotive industry. The conventional method of cutting these parts is to mark the part to be cut and then use a plasma cutter manually for the cutting operation. However, the high speed and flexibility of robotic laser cutting enable automotive manufacturers to mass-produce such parts at a fraction of the cost and time. Moreover, the automotive industry is facing huge demand for lighter, smaller, and better fuel mileage vehicles, which can be fulfilled with ultra-high tensile steel instead of conventional steel. Such increasing demand is anticipated to the segment growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on post-COVID-19 impact on each segment.
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Robotic Laser Cutting Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 14.61% |
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Market growth 2022-2026 |
USD 127.47 million |
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Market structure |
Fragmented |
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YoY growth (%) |
14.07 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 69% |
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Key consumer countries |
US, China, Japan, South Korea, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
ABB Ltd., AMADA Co. Ltd., Coherent Inc., DAIHEN Corp., FANUC Corp., Hans Laser Technology Industry Group Co. Ltd., Jenoptik AG, Jinan Style Machinery Co. Ltd., Kawasaki Heavy Industries Ltd., Laser Photonics, MIDEA Group Co. Ltd., Midwest Engineered Systems Inc., Mitsubishi Electric Corp., NACHI FUJIKOSHI Corp., Shenzhen Yuejiang Technology Co. Ltd, Staubli International AG, TRUMPF GmbH Co. KG, Universal Robots AS, Vector Automation Technologies Inc., and Yaskawa Electric Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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