The laser cutting machine market in the US to grow at a CAGR of 5.50% during the period 2017-2021.
Laser Cutting Machine Market in The US 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
The latest trend gaining momentum in the market is use of fiber lasers for micro-cutting applications in medical device industry. Micromachining is a technology that has become vital to the medical devices industry. However, until very recently major applications of lasers in the medical field was in welding, cutting, and drilling a variety of products. At present, in the medical devices industry, micro-cutting is playing an important role in the cutting of stents.
According to the report, one of the major drivers for this market is increasing need to develop superior-quality products. At present, the manufacturing scenario is very different from what it used to be a decade ago. With advances in technology and innovation, it is possible to produce parts quickly, efficiently, and at lower costs. One such advanced technology used nowadays is laser cutting. This technique is used to produce parts at record speeds in industrial manufacturing processes while simultaneously saving on costs.
Further, the report states that one of the major factors hindering the growth of this market is uncertainties in business policies due to recent us presidential elections. With the election of Donald Trump as the new US president, there have been widespread changes in the trade as well as employment aspects in the country. This is expected to significantly impact not only the country's economy but the global economy as well.