The Laser Processing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Laser Processing Market:
https://www.thebusinessresearchcompany.com/report/laser-processing-global-market-report
In accordance with The Business Research Company’s comprehensive Laser Processing Global Market Report 2024, the landscape of the laser processing sector has witnessed a remarkable surge in recent times. This expansion is poised to continue its trajectory, escalating from $18.34 billion in 2023 to an estimated $20.29 billion in 2024, reflecting an impressive compound annual growth rate (CAGR) of 10.6%. The historical surge can be ascribed to the heightened integration of laser technology in manufacturing processes, a surging demand for high-precision and non-contact material processing, and the flourishing automotive, electronics, and medical devices industries. Furthermore, the imperative for efficient and cost-effective manufacturing solutions, coupled with stringent quality and precision standards in manufacturing, have significantly propelled this upward trend.
Forecasts indicate that the laser processing market is on the cusp of a rapid growth phase, projecting a substantial increase to reach $30.54 billion by 2028, sustaining a CAGR of 10.8%. This anticipated surge can be traced to the widespread adoption of ultrafast and high-power lasers for advanced materials processing, the seamless integration of laser technology into semiconductor and electronics production, and a burgeoning demand for laser cutting and welding applications in the aerospace and defense sectors. The focus on miniaturization and microfabrication in the electronics industry, alongside the expanding footprint of laser processing in medical and healthcare applications, further augur well for this escalating trajectory. Noteworthy trends expected to shape the market in this forecast period include the dominance of fiber laser technology, the advent of hybrid laser processing combining laser and CNC machining, the application of ultrafast lasers for precision micromachining, and the rise of laser-based surface treatment, coating, cleaning, and de-coating processes.
The increasing applications of lasers in medical devices and surgeries are significantly contributing to the growth of the laser processing market. Medical lasers are utilized in medical procedures in various specialties, including ophthalmology, dermatology, plastic surgery, and dental surgeries, as well as in intraabdominal, cardiothoracic, neurologic, gynecologic, and urologic procedures. Lasers facilitate a source of focused, coherent light capable of transmitting intense energy to a precise location. For instance, in 2022, according to a report published by Biospace, a leading online source for biotechnology jobs, cataract statistics in the U.K., 330,000 cataract operations are conducted every year in the country. Therefore, the increasing usage of laser in medical devices and surgeries is expected to boost the demand for laser processing market during the forecast period.
Get A Free Sample Of The Report (Includes Graphs And Tables):
https://www.thebusinessresearchcompany.com/sample.aspx?id=7182&type=smp
The laser processing market covered in this report is segmented –
1) By Type: Gas Laser, Liquid Laser, Solid Laser, Other Types
2) By Application: Cutting, Welding, Drilling, Microprocessing, Marking and Engraving, Other Applications
3) By End-Use Industry: Aerospace and Defense, Automotive, Healthcare, Machine Tools, Architecture, Electronics and Microelectronics, Other End User Industries
An influential trend permeating the laser processing domain is the relentless pursuit of technological advancements. Numerous enterprises within this sphere are at the forefront of innovation, developing novel products and technologies to align with industry demands and fortify their global market standing. A case in point is the commendable initiative by TRUMPF, a distinguished German-based industrial machine manufacturing company. In September 2021, TRUMPF unveiled the TruLaser 1000, a cutting-edge 2D laser cutting machine boasting a 70% enhanced feed rate. This groundbreaking innovation, coupled with its efficient cooling mechanism, ensures high processing quality. Renowned for its user-friendly interface and compatibility with a diverse array of materials, the TruLaser 1000 stands as an ideal choice for both novices and enterprises aiming to augment their production capabilities. This exemplifies the pivotal role of technological advancements in propelling the laser processing industry toward new heights.
The laser processing market report table of contents includes:
1. Executive Summary
2. Laser Processing Market Characteristics
3. Laser Processing Market Trends And Strategies
4. Laser Processing Market - Macro Economic Scenario
5. Global Laser Processing Market Size and Growth
.....
31. Global Laser Processing Market Competitive Benchmarking
32. Global Laser Processing Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Laser Processing Market
34. Laser Processing Market Future Outlook and Potential Analysis
35. Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
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.
