Dublin, Jan. 03, 2023 (GLOBE NEWSWIRE) -- 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.
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
Companies Mentioned
- 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.
For more information about this report visit https://www.researchandmarkets.com/r/5zz5ww
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