Quick Summary:
The global laser processing market is on an impressive growth trajectory, thanks to multiple industry sectors leveraging its advanced capabilities for precision and efficiency in operations. Laser processing plays a critical role in several activities ranging from laser welding and cutting to surface modification and micro-processing. With the laser beam's ability to be moving, fixed, or hybrid, it enables engraving, etching, micro-processing, and material processing. It forms a go-to solution for manufacturers seeking high-quality, smooth, and dimensionally accurate cuts. Its exemplary contribution to enhancing the damage resistance of materials, producing composites with zero microcracks, and outpacing traditional processing techniques, underpins its wide acceptance in automotive, aerospace and defense, architecture, packaging, and telecommunications sectors.
The convergence of multiple favorable factors is spurring this market's growth. The advantages of laser processing over conventional techniques include speed, accuracy, and superior beam quality. The rising trend of miniaturizing products and microelectronic devices is also a strong market driver. Further, the medical devices manufacturing sector, including the production of pacemakers, implantable devices, and surgical tools, has been increasingly adopting laser processing technology. Moreover, technological advancements continue to augment the cutting speed and edge quality of laser processing. Lastly, the utilization of expensive laser-drilling techniques in oil and gas exploration points towards untapped niche sectors, which can further drive market growth. By obtaining this report, you will gain a comprehensive understanding of the global laser processing market, its key trends, segmentation, competitive landscape, and future growth prospects.
Laser processing helps in laser welding, laser cutting, surface modification, laser drilling, and micro-processing. It utilizes projected beams that can be moving, fixed, or hybrid for engraving, etching, micro processing, and material processing. It is a non-contact processing technique that provides the manufacturer with high-quality, smooth and dimensionally accurate cuts. It also improves the damage resistance of materials and offers composites with no microcracks, which make it more popular than its traditional processing techniques. Nowadays, laser processing technology is widely used in automotive, aerospace and defense, architecture, packaging, and telecommunication industries for punching, cutting, scribing, welding, and heat treatments.
Laser Processing Market Trends:
The global laser processing market is primarily driven by various advantages of laser process over conventional material processing technologies. Laser processing provides a permanent, faster, and accurate way of marking and engraving while offering high efficiency, superior beam quality and reliability. Besides this, the rising trend of miniaturization of products and microelectronic devices is fueling the market growth. Furthermore, there has been growing adoption of laser processing technology in the manufacturing of medical devices such as pacemakers, implantable devices and surgical tools. Moreover, technological advancements have also enhanced the edge quality and cutting speed of laser processing. For instance, the development of a liquid-crystal spatial light modulator (SLM) by Hamamatsu Photonics with the highest pulsed laser power capabilities of up to 400 GW/cm2 is helping users to achieve high-throughput and high-precision laser processing. Furthermore, the utilization of expensive laser-drilling techniques in oil and gas exploration, which reduce the cost of drilling and improve the feasibility of uneconomic oil deposits across the globe, is further expected to drive the market growth.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global laser processing market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on process, product and application.Breakup by Process:
- Material Processing
- Marking and Engraving
- Micro-Processing
Breakup by Product:
- Gas
- Solid-State
- Fiber
- Others
Breakup by Application:
- Automotive
- Aerospace
- Machine Tools
- Electronics and Microelectronics
- Medical
- Packaging
Breakup by Region:
North America
- United States
- Canada
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Bystronic Laser Ag, Coherent Inc., Epilog Laser, Eurolaser GmbH, Han's Laser Technology Industry Group Co. Ltd., IPG Photonics Corporation, Jenoptik AG, LaserStar Technologies Corporation, Newport Corporation (MKS Instruments Inc.), Prima Industrie S.p.A., Trumpf GmbH + Co. KG and Universal Laser Systems Inc.Key Questions Answered in This Report:
- How has the global laser processing market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global laser processing market?
- What are the key regional markets?
- What is the breakup of the market based on the process?
- What is the breakup of the market based on the product?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global laser processing market and who are the key players?
- What is the degree of competition in the industry?
| Report Attribute | Details |
|---|---|
| No. of Pages | 143 |
| Published | November 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( Billion | Billion 4.1 Billion |
| Forecasted Market Value ( Billion | Billion 6.3 Billion |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
Table of Contents
Companies Mentioned
- Bystronic Laser Ag
- Coherent Inc.
- Epilog Laser
- Eurolaser GmbH
- Han's Laser Technology Industry Group Co. Ltd.
- IPG Photonics Corporation
- Jenoptik AG
- LaserStar Technologies Corporation
- Newport Corporation (MKS Instruments Inc.)
- Prima Industrie S.p.A.
- Trumpf GmbH + Co. KG
- Universal Laser Systems Inc.
Methodology
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