Global Industrial Laser Market Report 2022: Industry to Reach $15.07 Billion by 2027 at a 13.93% CAGR
Saturday, February 4, 2023
DUBLIN, Jan. 4, 2023 /PRNewswire/ -- The "Global Industrial Laser Market: Analysis By Type; By Application; By Region Size, and Trends with Impact of COVID-19 and Forecast up to 2027" report has been added to ResearchAndMarkets.com's offering.
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In 2021, the global industrial laser market was valued at US$6.89 billion and is anticipated to grow to US$15.07 billion by 2027. An industrial laser is a mechanical device that generates a clean beam of light from a medium with controlled form, size, and purity by using molecules or atoms and stimulated emission.
Industrial lasers are capable of cutting metals and fabrics, marking tracking codes for industrial traceability, precisely welding metals, polishing metal surfaces, modifying surface roughness, and measuring part dimensions. Some of the major reasons why companies are using industrial laser are increasing shift of automotive sector towards electric vehicles, increasing legislation and traceability requirements, growing demand for material processing, rising demand of laser in aerospace sector, rising adoption of laser technology in medical industry, etc.
The industrial laser market is expected to grow at a CAGR of 13.93% over the forecast period of 2022-2027.
Market Segmentation Analysis:
-- By Type: The report provides the bifurcation of the industrial laser
market into four segments based on type: Fibre, Solid State/Disc,
Excimer/Diode, and CO2. In 2021, the Fibre segment lead the industrial
laser market as they have a small footprint, good electrical efficiency,
low maintenance and low operating costs. Due to the different
wavelengths they can generate, they are widely used in industrial
environments to perform cutting, marking, welding, cleaning, texturing,
drilling and a lot more. The Excimer/Diode segment is expected to grow
at the highest CAGR in the forecasted period.
-- By Application: In the report, the global industrial laser market is
divided into nine segments based on the application: Metal Cutting,
Welding/Brazing, Marking/Engraving, Fine Metal Processing, Display,
Non-Metal Processing, Semiconductor/PC Board, Additive Manufacturing,
and Other. The metal cutting segment held the highest share in the
market in 2021 and is expected to be the fastest growing segment in the
forecasted period as this laser process is noncontact, eliminating part
distortion and the focusing optics are always in place, so there are no
tool set-up and storage costs. Also, laser-cut edges are superior to
edges produced by most other cutting processes in every respect. Piece
parts cut by the laser do not require subsequent machining operations.
-- By Region: The global industrial laser market can be divided into four
regions: Asia Pacific, North America, Europe, and Rest of the World. The
Asia Pacific dominated the market in 2021 owing to the growing number of
original equipment manufacturers and automotive industries,
manufacturing cost reduction in the emerging countries of the region,
etc. China held the major share in the Asia Pacific industrial laser
market in 2021, owing to an increased industrial laser use at times of
metal manufacturing like cutting of steel that is further used in the
multiple industries.
-- North America is anticipated to lead the global industrial laser market
during the forecast period due to the growing significance mergers and
acquisitions along with ongoing research and development in ultra-laser
technology. The US held the major share in the North American industrial
laser market in 2021, and is expected to be the fastest growing region
in North America during the forecasted period of 2022-2027. Presence of
highly advance industrial sector in the US is one of the leading factors
supporting market growth in the country.
Global Industrial laser Market Dynamics:
Growth Drivers
-- Increasing Shift of Automotive Sector Towards Electric Vehicles
-- Favorable Government Initiatives
-- Increasing Legislation and Traceability Requirements
-- Growing Demand for Material Processing
-- Increasing Demand of Laser in Aerospace Sector
-- Rising Adoption of Industrial Laser in Medical Equipment
Challenges
-- Emission of Dangerous Gases During Melting Process
-- High Installation Costs
Market Trends
-- Rising Adoption of Industrial Robotics
-- Growing Demand for Ultrashort Pulse (USP) Lasers
-- Increasing Trend of Automation in Industries
-- Growing Laser Integration in Additive Manufacturing
-- Increasing Use of Laser in Garment Manufacturing
-- Industry 4.0
The key players of the global industrial laser market are
-- II-VI Incorporated (Coherent, Inc.)
-- Jenoptik AG
-- Lumentum Holdings Inc.
-- nLIGHT, Inc.
-- MKS Instruments, Inc. (Newport Corporation)
-- NKT A/S (NKT Photonics)
-- TRUMPF
-- FANUC Corporation
-- IPG Photonics Corporation
-- Calmar Laser
-- Amonics Ltd.
-- CY Laser SRL
-- Apollo Instruments Inc.
Key Topics Covered:
1. Executive Summary
2. Introduction
3. Global Market Analysis
4. Regional Market Analysis
5. Impact of COVID-19
6. Market Dynamics
7. Competitive Landscape
8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/mykzgk
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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