Market Highlights
Global Laser Processing Market is projected to register a 7.3% CAGR during the forecast period, 2020–2026.
Laser processing is a non-contact processing technique that uses a laser beam to cut/slice materials that provide the manufacturer with high quality, smooth, and dimensionally accurate cuts. The technique is widely used in applications ranging from micro/nanofabrication techniques to surface treatment, structuring, modification, and controlled surface plastic deformation. This process increases damage resistance of materials and provides composites with no microcracks. Various factors characterize the growth of the global laser processing market. Manufacturers’ inclination towards laser processing techniques over traditional processing techniques is driving the market growth. The rising need for miniaturization of products and microelectronic devices is also expected to fuel the market growth. Moreover, the increasing automation across manufacturing facilities has created growth opportunities in the global laser processing market.
Key Segments
Global Laser Processing Market has been segmented based on Product, Laser Type, Application, End-User, and Region.
By product, the laser processing market has been segmented into gas lasers, solid-state lasers, fiber lasers, and others.
By laser type, the laser processing market has been segmented into a fixed beam, moving beam, and hybrid beam.
By application, the laser processing market has been segmented into cutting, marking, welding, drilling, engraving, additive manufacturing, and others.
By the end-user, the laser processing market has been segmented into automotive, aerospace & defense, manufacturing, semiconductor & electronics, medical & life sciences, packaging, oil & gas, and others.
By region, the laser processing market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
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Regional Analysis
Global Laser Processing Market is estimated to grow at a significant rate during the forecast period, 2020 to 2026. The geographic analysis of laser processing has been conducted for North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Spain, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, and the rest of Asia-Pacific), and the rest of the world (the Middle East & Africa and South America). Among these regions, the North American region has dominated the laser processing market in 2019 and is likely to maintain its dominance throughout the study period. On the other hand, Asia-Pacific is expected to witness the fastest growth during the forecast period. The increasing demand for custom markings and engraving is expected to anticipate the growth of the Asia-Pacific over the forecast period.
Key Players
Altec GmbH (Germany), ALPhANOV (France), Amada Co., Ltd (Japan), Bystronic Laser AG (Switzerland), Coherent Inc. (COHR (NASDAQ)), Epilog Laser, Inc. (US), Eurolaser GmbH (Germany), Han's Laser Technology Industry Group Co., Ltd. (China), IPG Photonics Corporation (IPGP (NASDAQ)), Newport Corporation (MKS Instruments, Inc.) (US), Prima Industries (Italy), LaserStar Technologies Corporation (US), The Needham Group (Needham Coding) (England), Jenoptik Laser GmbH (Germany), Q-Peak Inc. (US), ROFIN-SINAR Technologies Inc. (US), SEI Laser (Italy), Trumpf GmbH + Co. KG (Germany), Universal Laser Systems, Inc. (Japan), Xenetech Global Inc. (US), Trotec Laser GmbH (Austria), FOBA (US), and Mitsubishi Electric (Japan) are some of the key players in the global laser processing market. The prominent players in the global market focus on innovating and investing in research & development to offer a cost-effective product portfolio. There have been recent mergers
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Industry InsightsIn the year 2015 the global laser processing market was sized at $10.36 billion and is estimated to grow at a significant rate due to the increase in material processing applications.
Precise and accurate operations of industrial processes are achieved by implementing the laser technology in manufacturing.The regulations and the norms set by the governments are expected to positively affect the growth of laser processing market in next few years.
Gas segment consists of nitrogen, copper, carbon monoxide, carbon dioxide, helium-neon and argon-ion lasers.Solid state lasers are further divided into YAG or Nd lasers, Q-switched Nd lasers, small-diode pumped Nd, YVO4 lasers and large sized lasers in end or side pumped configuration.
This section comprises of all the major factors of laser and material processing involving implementation of laser beam welding, hybrid processes, micro drilling, surface modifications, ablation of bulk material and coatings, cutting & machining direct manufacturing and so on.Crude oil extraction that involves mainly mining and drilling activities is largely benefitted by laser technology.
They also aid the system integrators, OEMs, end users using processes such as cutting systems, marking, welding, etching and marking systems.Furthermore, the engagement of laser technology with water-jet cutting technology in smooth surface with narrow cuts, increases the overall efficiency subsequently fuelling the market growth over next few years.Application InsightsApplication segment mainly includes OEMs, Automotive, electronics and microelectronics, aerospace, medical and packaging.
Rise in the rate of adoption of laser in various industrial applications such as cutting, welding, drilling engraving and various material processing activities is expected to drive the market to new growth heights in the next few years particularly due to extensive use of this technology as machine tools.Request a Free Sample Copy of Laser Processing Market Report @ https://www.millioninsights.com/industry-reports/laser-processing-market/request-sampleThe ever increasing demand in the fields of microelectronics and medical sector is expected to drive laser processing growth.
