Westford, USA, Feb. 08, 2024 (GLOBE NEWSWIRE) -- According to SkyQuest, implementing government regulations and laws that oversee the use of laser technology for product marking and engraving is poised to influence laser processing market growth over the forecast period. These regulations ensure safety standards and quality control in applying lasers, instilling confidence in both manufacturers and consumers.
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Browse in-depth TOC on the "Laser Processing Market”
- Pages - 157
- Tables - 94
- Figures – 76
Technological advancements have played a pivotal role in elevating the capabilities of laser treatments, particularly in terms of edge quality and slicing speed. One notable innovation comes from Hamamatsu Photonics, which has introduced a spatial light modulation (SLM) incorporating liquid-crystal technology. This cutting-edge SLM boasts an impressive pulsed laser power density of up to 400 GW/cm2 in the laser processing market.
Prominent Players in Laser Processing Market
- Coherent, Inc.
- Trumpf Group
- IPG Photonics Corporation
- Jenoptik AG
- Han's Laser Technology Industry Group Co. Ltd.
- Lumentum Holdings Inc.
- Epilog Laser, Inc.
- Amada Miyachi America, Inc.
- Universal Laser Systems, Inc.
- Rofin-Sinar Technologies Inc.
- Newport Corporation
- Eurolaser GmbH
- Prima Industrie S.p.A.
- TRUMPF Laser GmbH
- Bystronic Laser AG
- GF Machining Solutions LLC
- MKS Instruments, Inc.
- LaserStar Technologies Corporation
- Preco, Inc.
- Trotec Laser GmbH
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Material Processing Segment is Expected to Grow the Market Due to Encompasses the Core Applications of Laser Technology
Material processing segment has emerged as the undisputed leader in the laser processing market, holding a commanding share of over 70% of total sales. This segment encompasses the core applications of laser technology in material processing, spanning a broad spectrum of functions.
The market in Europe is anticipated to witness the fastest growth rate in the global laser processing market. This remarkable expansion is attributed to the increasing utilization of lasers in medical equipment and various medical procedures, marking a significant driving force behind the market's ascent.
Machine Tools Segment is Expected to Dominate the Market Due to the Growing Adoption of Lasers
Machine tools segment has taken the lead in the laser processing market, commanding a substantial sales share of over 30%. This prominence can be attributed to the growing adoption of lasers in the industrial sector, where they are utilized for a diverse array of material processing tasks, including cutting, welding, drilling, and engraving.
Regional markets in the Asia Pacific region are set to play a pivotal role in the global laser processing market landscape, with a projected share of over 40.0% of market revenue during the forecast period. This significant presence is expected to surge as the number of original equipment manufacturers (OEMs) in the region continues to expand.
A comprehensive analysis of the major players in the laser processing market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the Laser Processing Market
- In 2022, Mitsubishi Electric Corporation, a prominent Japanese multinational known for its electronics and electrical equipment expertise, made headlines with the announcement of two cutting-edge wire-laser metal 3-D printers. These innovative printers, collectively known as the AZ600, offer advanced capabilities to meet various manufacturing needs. The AZ600 is available in two distinct variants: the AZ600-F20 and the AZ600-F40, catering to a wide range of industrial applications and facilitating precise and efficient metal 3-D printing processes.
- IPG Photonics recently introduced the LightWELD XR, marking the third addition to their handheld laser solutions for welding and cleaning tasks. This laser device stands out for its exceptional cleaning abilities and its ability to deliver portable laser welding with enhanced capabilities.
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Key Questions Answered in Laser Processing Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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