Chicago, April 16, 2024 (GLOBE NEWSWIRE) -- The global laser technology market size is expected to grow from USD 16.7 billion in 2022 to USD 25.6 billion by 2027, at a CAGR of 8.9%. Growing preference for laser-based material processing techniques, increasing demand for laser technology in optical communication and healthcare vertical, and growing demand for laser systems for various industrial processes such as welding, scribing, engraving, welding, and cutting etc., are the key factors driving the laser technology market.
The major players in the laser technology market with a significant global presence are Coherent (US), Trumpf (Germany), Han’s Laser Technology Industry Group Co., Ltd (China), IPG Photonics (US) and Jenoptik AG (Germany). The market players have adopted various strategies, including the advancement of products, collaborative partnerships, contractual agreements, business expansions, and acquisitions, all aimed at fortifying their market standing. These comprehensive strategies, both organic and inorganic, have facilitated the global expansion of market players through the provision of sophisticated palletizers.
To know about the assumptions considered for the study
Major Ammunition companies include:
- Coherent (US)
- Trumpf (Germany)
- Han’s Laser Technology Industry Group Co., Ltd (China)
- IPG Photonics (US)
- Jenoptik AG (Germany)
Coherent is a provider of industrial and fiber lasers solutions and deals in technologies such as diode-pumped solid-state laser, fiber laser, gas laser (CO, CO2, excimer, and Ion), optically pumped semiconductor laser (OPSL), semiconductor laser, and ultrafast laser. These laser technologies find applications in several end-user industries, including healthcare, scientific research, electronics, military & defense, and manufacturing. The key factors responsible for Coherent’s market leadership include a well-balanced product portfolio, strong international brand name, customer retention capabilities, and global presence. The company is focusing on growth through the acquisition of new technologies, enhancement of its technology portfolio, and diversification of products into new markets and regions. Coherent has presence in the Americas, Europe, the Middle East & Africa, and Asia Pacific. Some of its subsidiaries are Coherent GmbH (Germany), Coherent Ltd. (UK), Coherent Japan KK (Japan), Lambda Physik USA, Inc. (US), and Coherent Commercial Company Ltd. (China).
Trumpf has established itself as one of the leading players in the laser Technology market. The company—through more than 70 of its subsidiaries—has achieved global presence across Asia Pacific, North America, South America, and Europe; the company also has 17 production units in Europe. Some of its subsidiaries include KOZ Makina (Turkey), Ferdinand-Braun-Institut (Germany), Leibniz-Institut für Hochstfrequenztechnik (FBH) (Germany), TRUMPF Homberger s.r.l. (Italy), Trumpf GMBH Korea Co., Ltd. (South Korea), and PT TRUMPF Indonesia (Indonesia).
The company is in the process of expanding its already broad laser Technology solutions portfolio. In 2022, it invested USD 525.7 million in R&D to support robust organic growth. Additionally, the company has been focusing on increasing its footprint across the globe. As a part of such initiatives, the company, in May 2018, invested ~USD 27 million in its Chinese subsidiary, JFY, and its Chinese division, TRUMPF China, to expand its production capacity. Earlier, in October 2017, the company opened a logistics center at its headquarters in Ditzingen, Germany, with a ~USD 53 million investment, to enable faster delivery of consumables and spare parts.
Han’s Laser is a well-known company in the global laser Technology market. Han’s Laser is a laser equipment manufacturer and provides laser marking, laser welding, laser cutting, and laser cleaning machines for applications in IT, automotive, packaging, electronics & semiconductor, and energy & power verticals. Han’s Laser offers several types of laser marking, cutting, and welding machines based on fiber laser, CO2 laser, UV laser, and YAG laser.
The company aims at strengthening its market presence by providing customized solutions and quality products that utilize resources optimally and minimize manufacturing costs. Supported by its recognized brand identity, Han’s Laser has strong presence operations in Asia, the Americas, the Middle East & Africa, and Europe, which has helped the company increase its revenue from 1,818 million in FY 2020 to 2,144 million in FY 2022. Its clientele includes companies such as Flextronics (US), Philips (Netherlands), Samsung (South Korea), and Siemens (Germany). Some of the company’s prominent subsidiaries are Control Laser Corporation (US), Han's CNC Science and Technology Co., Ltd. (China), Baublys Laser GmbH (Germany), and Nextec Technologies 2001 Ltd. (Israel).
IPG Photonics Corporation is a manufacturer of fiber lasers and amplifiers. Its offerings include lasers, laser systems, beam delivery solutions, medical solutions, telecom equipment, and components for the automotive, consumer electronics, telecommunications, aerospace, semiconductor, entertainment, heavy industry & transport, manufacturing, medical, and oil & gas verticals.
JENOPTIK AG offers laser technology products through the Advanced Photonics Solutions business segment. The product and solution portfolio of laser technologies includes high-power diode lasers, F-theta objective lenses and beam expanders, laser range finders, customized laser systems or complex laser machines that enhance processes in application environments such as laser-based therapy, materials processing, security, and more.
