Dublin, March 24, 2023 (GLOBE NEWSWIRE) -- The "Laser Processing Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global laser processing market grew from $16.57 billion in 2022 to $18.46 billion in 2023 at a compound annual growth rate (CAGR) of 11.4%. The laser processing market is expected to grow to $26.69 billion in 2027 at a CAGR of 9.7%.
Asia-Pacific was the largest region in the laser processing market in 2022, and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the laser processing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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. Moreover, 30% of people aged 65 years and above are expected to have a cataract in one or both eyes. In 2020, in the U.S., around 718,000 surgeries are projected to be performed. In Europe, around 757,000 laser eye surgeries are likely to be performed by 2020. Therefore, the increasing usage of laser in medical devices and surgeries is expected to boost the demand for laser processing solutions during the forecast period.
Technological advancements are a key trend gaining popularity in the laser processing market. Many companies operating in laser processing are developing new products or new technologies to meet industry demand and strengthen their market position across the globe. For instance, in September 2021, TRUMPF, a German-based industrial machine manufacturing company launched 2D laser cutting machine, TruLaser 1000 which guaranteed up to 70% feed rate and with its effective cooling, it produces with high processing quality. Due to its ease of use and a wide variety of materials, it is ideal for beginners and companies who want to increase their production capacity.
In 2022, TRUMPF, a German-based industrial machinery manufacturing company acquired an 80% stake in Active Fiber Systems GmbH (AFS) for an undisclosed amount. With this acquisition, TRUMPF can leverage AFS's laser systems to generate extremely short-wavelength light with high coherence, as well as for biomedical imaging and materials processing. Active Fiber Systems GmbH German-based manufacturer of ultrashort-pulse laser systems and fiber laser systems for science and research applications.
Reasons to Purchase
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Scope
Markets Covered:
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
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $18.46 billion |
| Forecasted Market Value (USD) by 2027 | $26.69 billion |
| Compound Annual Growth Rate | 9.7% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Laser Processing Market Characteristics
3. Laser Processing Market Trends And Strategies
4. Laser Processing Market - Macro Economic Scenario
5. Laser Processing Market Size And Growth
6. Laser Processing Market Segmentation
7. Laser Processing Market Regional And Country Analysis
8. Asia-Pacific Laser Processing Market
9. China Laser Processing Market
10. India Laser Processing Market
11. Japan Laser Processing Market
12. Australia Laser Processing Market
13. Indonesia Laser Processing Market
14. South Korea Laser Processing Market
15. Western Europe Laser Processing Market
16. UK Laser Processing Market
17. Germany Laser Processing Market
18. France Laser Processing Market
19. Eastern Europe Laser Processing Market
20. Russia Laser Processing Market
21. North America Laser Processing Market
22. USA Laser Processing Market
23. South America Laser Processing Market
24. Brazil Laser Processing Market
25. Middle East Laser Processing Market
26. Africa Laser Processing Market
27. Laser Processing Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Laser Processing Market
29. Laser Processing Market Future Outlook and Potential Analysis
30. Appendix
A selection of companies mentioned in this report includes
- Coherent Inc.
- TRUMPF Inc.
- Han's Laser
- IPG Photonics
- Jenoptik Group
For more information about this report visit https://www.researchandmarkets.com/r/wq3ney
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