IMARC Group, a leading market research company, has recently releases report titled Laser Processing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 The study provides a detailed analysis of the industry, including the laser processing market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Laser Processing Market?
Report Attributes | Details |
Market Size in 2022 | US$ 4.4 Billion |
Market Forecast in 2028 | US$ 6.7 Billion |
Growth rate (2023 to 2028) | CAGR of 7.3% |
Base Year of the Analysis | 2022 |
Forecast Period | 2023-2028 |
What is Laser Processing?
Laser processing refers to a non-contact processing technique that offers the manufacturer high-quality, smooth, and dimensionally accurate cuts. It also enhances the damage resistance of materials and provides composites with no microcracks, making it more popular than conventional processing techniques. Laser processing aids in laser welding, laser cutting, surface modification, laser drilling, micro-processing, etc. It utilizes projected beams that can be fixed, moving, or hybrid, for etching, engraving, material processing, etc. Presently, this technology is extensively used across numerous industries, including automotive, aerospace, defense, packaging, architecture, etc., for punching, scribing, cutting, welding, heat treatments, etc.
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What Are the Growth Prospects and Trends in the Laser Processing Market?
The growing consumer preferences towards numerous benefits of laser processing technique over traditional material processing technologies are primarily driving the global market. These advantages mainly include providing a permanent, accurate, and faster way of marking and engraving in addition to offering superior beam quality, high efficiency, reliability, etc. Furthermore, the rising trend of device miniaturization is also fueling the demand for laser processing. Besides this, the growing adoption of laser processing technology in the manufacturing of medical devices, such as surgical tools, pacemakers, implantable devices, etc., is acting as another growth-inducing factor. Moreover, the escalating utilization of expensive laser-drilling techniques in oil and gas exploration activities to reduce drilling costs and increase the feasibility of uneconomic oil deposits is expected to catalyze the laser processing market over the forecasted period.
Who Are the Key Players Operating in the Laser Processing Industry?
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Bystronic Laser Ag
- Coherent Inc.
- Epilog Laser
- Eurolaser GmbH
- Han's Laser Technology Industry Group Co. Ltd.
- IPG Photonics Corporation
- Jenoptik AG
- LaserStar Technologies Corporation
- Newport Corporation (MKS Instruments Inc.)
- Prima Industrie S.p.A.
- Trumpf GmbH + Co. KG
- Universal Laser Systems Inc
What is Included in Market Segmentation?
The report has categorized the market based on process, product and application.
Breakup by Process:
- Material Processing
- Marking and Engraving
- Micro-Processing
Breakup by Product:
- Gas
- Solid-State
- Fiber
- Others
Breakup by Application:
- Automotive
- Aerospace
- Machine Tools
- Electronics and Microelectronics
- Medical
- Packaging
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
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