The global laser processing market size was valued at USD 10.36 billion in 2015 and is expected to witness a significant growth owing to the increased usage of lasers in material processing applications. The implementation of this technology in the industrial & manufacturing sectors leads to precise & accurate industrial processes.
Government regulations concerning the application of this technology in the marking as well as the engraving of products are projected to favorably impact the market growth over the forecast period. The market is anticipated to witness a high growth over the next few years owing to the usage of this technology across a broad range of applications, comprising welding, marking, cutting, drilling, and engraving.
China laser processing market by product, 2014 - 2025 (USD Million)
Furthermore, the strict government directives for the usage of laser technology in marking & engraving coupled with the growing adoption of lasers in medical devices and surgeries are anticipated to spur the market growth in the near future.
The product segment comprises gas, fiber, and solid-state lasers. Gas segment entails copper, nitrogen, carbon dioxide, carbon monoxide, argon-ion, and helium-neon lasers.
The solid-state segment is further categorized as Q-switched Nd: YAG lasers, small diode-pumped Nd: YAG or Nd: YVO4 lasers, and larger lasers in side-pumped or end-pumped configurations. The usage of fiber laser facilitates manufacturers to exploit the benefits of this technology in their manufacturing processes.
The growing demand for these lasers across diversified verticals, such as automotive, aerospace, machine tools, medical, and packaging, is projected to spur the global laser processing market growth over the forecast period.
The process segment comprises material processing, marking & engraving, and micro-processing. This section includes all the major aspects of laser & material processing, including hybrid processes, development, and implementation of laser beam welding, micro drilling, surface modifications, cutting & machining direct manufacturing & forming micro deposition, and ablation of bulk material & coatings.
Laser processing proves beneficial for the mining & drilling activities, predominantly crude oil extraction. For example, the main development areas offered by Aerotech comprise mechanics, controls, and laser controls. They then aid the OEMs, system integrators, and end users with the process of etching, marking systems, welding, and cutting systems.
Furthermore, the espousal of water jet cutting technology results in a smooth cutting surface with narrow cuts, subsequently increasing the overall process efficiency and thereby spurring the market growth.
The application segment includes automotive, aerospace, OEMs, electronics & microelectronics, medical, and packaging. The increasing adoption of lasers in the industrial sector for various material processing applications, such as cutting, welding, drilling, and engraving, is projected to drive the market growth, particularly in the machine tools application segment.
The surging demand in microelectronics and the medical sector is anticipated to spur the global laser processing Industry growth. Welding plays a significant role in the production of medical devices. Key medical applications include pacemakers, implantable devices, and surgical tools, which need ultra-fine wires and non-porous & sterile surfaces, which are utilized in cardiac procedures.
Global laser processing market by application, 2015 (USD Million)
Moreover, emerging applications in the automotive and oil & gas sectors and the surging demand in machine tools manufacturing are anticipated to augment the industry growth. Additionally, laser cutting offers high processing speeds, upsurges the quality of cutting edges, and provides low heat input into the material for the automobile production.
Asia Pacific held the largest market share in 2015 and accounted for over 30% of the overall revenue share in 2015. It is expected to witness a substantial growth owing to the rising number of OEMs in this region. Furthermore, China is anticipated to arise as the key consumer of industrial lasers & systems for materials processing and micro-processing.
Government regulations pertaining to permanent & clear marks on consumer goods are estimated to ensue in greater adoption of this technology across several regions. Furthermore, the growing adoption in the automotive sector is further expected to boost demand in the European region.
The market is characterized by intense competition with the presence of a few major global players holding a significant market share. Key players lay emphasis on new product developments to offer avenues for increased profitability through better customer relationships.
Companies such as Universal Laser Systems offer products for security agencies and military branches for asset management, custom parts fabrication, and other production & security uses. These systems are also used on airfields, military bases, and naval vessels across the globe. Prominent players include Amada Co., Ltd., LaserStar Technologies Corporation, Coherent Inc., IPG Photonics Corporation, and Newport Corporation.
|
Attribute |
Details |
|
Base year for estimation |
2016 |
|
Actual estimates/Historic data |
2014 - 2015 |
|
Forecast period |
2017 - 2025 |
|
Market representation |
Revenue in USD Million & CAGR from 2016 to 2025 |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America & MEA |
|
Country scope |
U.S., Canada, UK, Germany, France, India, Japan, China, Brazil, and Mexico |
|
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
|
15% free customization scope (equivalent to 5 analyst working days) |
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 |
This report forecasts revenue growth on global, regional, and country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the laser processing market on the basis of product, process, application, and region:
Product Outlook (Revenue, USD Million; 2014 - 2025)
Gas
Solid-state
Fiber
Others
Process Outlook (Revenue, USD Million; 2014 - 2025)
Material Processing
Marking and Engraving
Micro-Processing
Application Outlook (Revenue, USD Million; 2014 - 2025)
Automotive
Aerospace
Machine Tools
Electronics and Microelectronics
Medical
Packaging
Regional Outlook (Revenue, USD Million; 2014 - 2025)
North America
The U.S.
Canada
Europe
UK
Germany
France
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Middle East & Africa (MEA)
This report has a service guarantee. We stand by our report quality.
We are in compliance with GDPR & CCPR norms. All interactions are confidential.
Design an exclusive study to serve your research needs.
Get your queries resolved from an industry expert.
"The quality of research they have done for us has been excellent..."
