Growing Industrialization in Asia-Pacific Region: Boosting the Growth of Laser Processing Machines.
Manufacturing sector is highly deploying advanced machines for increasing the quantity and quality of their end-products .The precise and accurate processing makes laser processing machines applicable in numerous end-user industry. OEMs are also focused on increasing their productivity and concurrently making optimal use of materials in manufacturing. Asia-pacific is one of the emerging hubs for manufacturing sector with major industry including automotive, metals, food & beverage, Chemicals among others. Various investments along with government initiatives are implemented in the region promoting the growth of various sectors. Asia Pacific is also speculated to be the fastest growing market for all the high scale industries in the coming years. The region incorporates developed economies such as Japan, South Korea, China and developing economies such as India, Indonesia, Thailand and many more. India is among the top ten diverse economies in the world attracting huge investments in the manufacturing and heavy engineering industry. According to India Brand Equity Foundation, the government of India has taken initiatives to increase the share of manufacturing sector to 25% of the GDP by 2022 from 16% from 2017. Foreign direct investment inflows are growing by 82% year-on-year. Some of the key investment and developments in the manufacturing sector comprise of Honda Motorcycle &scooters are planning to invest $90million to produce additional units in Karnataka region. China based company, Holitech Technology, also plans to invest $1 billion in India by end of 2017, to name a few. Also, the government is planning to invest $10billion in semiconductor plants for smoothen electronics manufacturing in the country.
China on the other hand is the world’s second largest economy and is prone towards technological advancements. Consumption of laser processing machines in Asia-Pacific region will witness high growth rates owing to the development in industrialization in various countries. Chinese government to plan and take initiative to upgrade the Chinese industry and move the economy towards higher value added and concurrently focusing on quality over quantity will fuel opportunity for the laser processing machines market
. Made in China 2025, has clear goals for transforming China from a manufacturing giant into world manufacturing power by 2025.This initiatives has also emphasized on machine tools for developing the manufacturing sectors. Also, owing to industrial upgrading and digital evolution of downstream industries, there will be continued demand for processing machines which will positively impact the laser processing machines market in the region.
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