Global Laser Cutting Machine Market - Expected to Have a CAGR of 9% During 2017-2023
DUBLIN, Dec. 29, 2017 /PRNewswire/ --
The "Global Laser Cutting Machine Market Research Report Insights, Opportunity Analysis, Market Shares and Forecast, 2017 - 2023" report has been added to Research and Markets' offering.
One of the key factors driving the growth of global laser cutting machine market is the growth in the automobile industry. The increasing growth in the automobile industry is directly proportional to the growth of global laser cutting machine market which would lead to increased adoption of laser cutting machines. North America is the leading market for automobile industry. According to American Auto Council, there has been a sale of approximately 17.5 million vehicles in 2015 which is 5.7% more than the vehicle sale in 2014. However, the U.S. automobile market is expected to witness a flat growth till 2018 due to the high interest rates for auto loan by the Federal Reserve. Furthermore, the Mexican automobile market is also surging and has witnessed 19% hike in the automobile sales in 2015 as compared to 2014. Moreover, the new investments in the automobile factories are also increasing in Mexico. For instance: In Feb 2017, it was announced that the Chinese-Mexican tie up would invest $200 million in the Mexican car plant. The install capacity is also expected to rise to more than 50% by the end of 2022. The European automobile industry has also witnessed tremendous growth in the sales of automobile.
According to European Commission, the number of new registrations for car sale has been increasing with a CAGR of 9.3% and the sale was recorded to be 12.6 million units in 2016. However the automobile manufacturers in the various European countries such as Greece, France, Italy, Spain, and Portugal is facing significant losses and low profit due to the fragmented automobile market due to inefficiency in the model proliferation. Moreover according to European Commission, the automotive sector of Europe accounts for 4% GDP. However, Asia Pacific is expected to emerge as the fastest growing automobile industry. The developing countries such as China are expected to be the largest auto market. China is expected to witness increased annual vehicle sales of more than 30 million by the end of 2020.Furthermore, the Smart joint ventures with Chinese companies would lead to increased investment returns and the increased and highly managed production of more profitable, pricier models would be essential for the automobile manufacturers which are planning to take advantage of potential vehicle sales growth.
According to Advanced Manufacturing, the emergence of electric vehicles in China and innovation of new energy vehicles is the key factor driving the electric vehicle market growth in China. However, the Middle East and Africa regions are expected to witness significant growth in the automobile industry due to the advancements in the Egypt, Iran, Nigeria and South Africa. Therefore, the growing automobile industry is driving the growth of global laser cutting machine market.
Companies Mentioned
- Alpha Laser Gmbh (Germany)
- Amada Miyachi Company, Ltd. (Japan)
- Bystronic Incorporated (U.S.)
- Coherent Incorporation (U.S.)
- CTR Lasers (Uk)
- Epilog Laser Inc. (U.S.)
- Eurolaser Gmbh (Germany)
- IPG Photonics Corporation (U.S.)
- Jenoptik Laser Gmbh (Germany)
- Kern Laser Systems (U.S.)
- Koike Aronson, Inc. (U.S.)
- Nissan Tanaka Corporation (Japan)
- Rofin Group (Germany)
- Trumpf (Germany)
- Universal Laser Systems, Inc. (U.S.)
Key Topics Covered:
1. Introduction
2. Market Overview
3. Market Determinants
4. Market Segmentation
5. Competitive Landscape
6. Geographical Analysis
7. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/4mj37g/global_laser
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