“One of the primary growth drivers for this market is the increasing need to develop superior-quality products,” says a senior analyst for the industrials industry at Technavio. The vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the medium and high capacity laser cutting machines market size to grow by USD 1.10 billion during the period 2020-2024.
Medium and High Capacity Laser Cutting Machines Market Segment Highlights for 2020
The medium and high capacity laser cutting machines market is expected to post a year-over-year growth rate of 1.48%.
Based on the end-user, the automotive segment saw maximum growth in 2019. The popularity of fiber laser machines will continue to increase since they do not require expensive optical mirrors and other moving parts to position the light on material.
The growth of the segment will be significant during the forecast period.
Read more: Cleveland Ohio Laser Cutting New Medium and High Capacity Laser Cutting Machines Market Research 2020-2024 | Industry Planning Structure | Technavio