Compared with traditional processing, laser processing technology has the advantages of high precision, high speed, non-contact, intelligence, flexibility and so on.

  Optical processing has been gradually applied to the traditional manufacturing industry to greatly improve the production efficiency: laser marking, deep engraving, cutting and welding have gradually replaced the traditional inkjet printing, metal mold steel etching and mechanical cutting processes.

  From 2009 to 2019, the CAGR of the global material processing laser equipment market was 15.4%, much higher than the growth rate of 6.5% of the machine tool market in the same period.

  From 2021 to 2023, the demand for updating and replacing laser cutting machines can reach 67500, 79400 and 94400 respectively (CAGR = 17.95%). The average unit price of medium power laser cutting machine is 200000 RMB and the average unit price of high power is 600000 RMB. On this basis, the estimated renewal market scale in the next three years can reach 20.47 billion RMB, 24.297 billion RMB and 30.558 billion RMB respectively, and the CAGR is 21.97%. Under the effect of renewal and substitution, the sales volume of laser cutting machine will maintain medium and high-speed growth, and the laser cutting market will continue to expand, creating huge demand space for its upstream laser industry.