Laser Processing Market Research Report Data by Revenue (Laser Revenue, System Revenue) Laser Type (Gas Lasers, Solid Lasers, Liquid Lasers) Configuration (Laser Processing Configuration, Laser Cutting and Engraving Configuration) End-Use (Microelectronics, Micromachining, Aerospace & Defense, Medical & Life Sciences, Automotive, Architecture, Machine Tools) Region (North America, Asia Pacific, Europe, South America, Middle East & Africa), Global Trends and Forecast from 2024 to 2030
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Laser Processing Market Outlook (2024 to 2030)
The global laser processing market is expected to grow at a 4.29% CAGR from 2024 to 2030. It is expected to reach above USD 6.13 billion by 2030 from USD 4.2 billion in 2023.
Laser processing is beneficial in laser welding, laser cutting, surface modification, laser drilling, and microprocessing. It employs moving, stationary, or hybrid projected beams for engraving, etching, micro processing, and material processing. It is a non-contact processing technology that gives high-quality, smooth, and dimensionally correct cuts to the maker. It also enhances material damage resistance and provides composites with minimal microcracks, making it more popular than standard processing processes. The laser processing technology is now widely utilized for punching, cutting, scribing, welding, and heat treatments in the automotive, aerospace and military, architectural, packaging, and telecommunications sectors. Laser processing is commonly used in the production of electronic components and parts.
Growth Drivers
The increasing usage of laser technology in the industrial sector for a variety of material processing applications such as welding, cutting, engraving, and drilling is expected to drive market expansion, particularly in the machine tools application market. The significant advantages of laser processing over conventional material processing methods are driving the worldwide laser processing market. Laser processing is a permanent, quicker, and more precise method of marking and engraving, with great efficiency, improved beam quality, and dependability. Aside from that, the growing trend of product miniaturization and microelectronic device miniaturization is supporting market expansion. Furthermore, laser processing technology is increasingly being used in the manufacture of medical equipment such as pacemakers, implanted devices, and surgical instruments. Furthermore, technical developments have improved the edge quality and cutting speed of laser processing. For example, Hamamatsu Photonics’ invention of a liquid-crystal spatial light modulator (SLM) with the greatest pulsed laser power capabilities of up to 400 GW/cm2 is assisting users in achieving high-throughput and high-precision laser processing. Furthermore, the use of costly laser-drilling techniques in oil and gas exploration, which lower drilling costs and enhance the viability of uneconomic oil reserves throughout the world, is likely to boost market expansion. Aside from the medical industry, laser processing is finding increasing use in the automobile, semiconductor, aerospace, and electronics industries. Aside from the medical industry, laser processing is finding increasing use in the automobile, semiconductor, aerospace, and electronics industries. Laser processing is commonly used in the production of electronic components and parts. The increasing usage of laser technology in the industrial sector for a variety of material processing applications such as welding, cutting, engraving, and drilling is expected to drive market expansion, particularly in the machine tools application market. Rising demand for machine tool production, as well as increasing applications in the oil and gas and automotive industries, are likely to drive expansion in the worldwide laser processing market. Because of its rapid processing rates and high-quality cutting edges, laser cutting technology is employed in manufacturing processes in the automobile sector. Increased demand for wireless-enabled gadgets, mobile devices, and telecom equipment, as well as increased commercialization of laser-based photovoltaic (PV) modules with better throughput, enhanced module efficiencies, and lower processing costs, are also driving market expansion.
Restraining Factor
The installation of laser technology is a complex and costly process, with the market growth influenced by the vast resources required for various applications. Traditional plasma cutting costs around USD 5,000 annually, while laser processing and cutting equipment costs around $10,000. Despite the decrease in product costs, laser technology remains quite expensive.
Top Key Players Profiled in the Laser Processing Market
From large companies to small ones, many companies are actively working in the laser processing market. These key players include Coherent, Trumpf, Han’s Laser, IPG Photonics, Jenoptik, Lumentum, Gravotech, LaserStar, Lumibird, Epilog Laser, Altec GmbH, Alpha Nov laser, Amada Co. Bystronic Laser AG, Epilog Laser Inc., Eurolaser GmbH, Han’s Laser Technology Industry Group Co. Ltd., IPG Photonics Corporation, Newport Corporation (MKS Instruments Inc.), LaserStar Technologies Corporation, IPG Photonics Corporation, Newport Corporation, Universal Laser Systems Inc., Xenetech Global Inc, and others. Companies are mainly in laser processing they are competing closely with each other. Innovation is one of the most important key strategies as it has to be for any market. However, companies in the market have also opted for and successfully driven inorganic growth strategies like mergers & acquisitions, and so on.
New Developments
- June 14, 2023, Coherent Introduces New Ph20 Smartweld+ Laser Processing Heads For Precision Welding At High Speeds In Ev Applications.
- September 11, 2023, IPG Photonics Launches New Dual-Beam Laser with the Highest Single-Mode Core Power at The Battery Show in Novi, Michigan
- In March 2022, MADA entered the European market with its ENSIS-6225AJ fiber laser cutting equipment.
- The newest ranges of TruMicro ultrashort pulse lasers, the TruMicro 6000 and TruMicro 2000, were unveiled by TRUMPF in April 2022. The product range provides new technological platforms that increase versatility and provide accurate power. Additionally, the two most recent generations of TruMicro lasers would expand the product line for microprocessing and offer solutions to satisfy the market’s high demands.
- In March 2022, Mitsubishi Electric Corporation, a leading Japanese multinational electronics & electrical equipment manufacturer, announced the launch of two new wire-laser metal 3D printers. The AZ600 is available in two models: the AZ600-F20 and the AZ600-F40.
- In January 2020, Trumpf (Germany) has bought a minority share in GLOphotonics, a laser technology business located in France.
- In November 2019, Coherent (US) has introduced a switchable adjustable ring mode (ARM) fibre laser that can power two independent processes or workstations sequentially.
- In August 2019, Han’s Laser (China) has introduced a multi-axis ultrafast micromachining system that can regulate laser rotation as well as X,Y,Z motion in three directions.
- In November 2018, IPG Photonics (US) bought Genesis, a robotic systems integrator located in the United States, to expand its laser processing solutions into the transportation, industrial, and aerospace end-user industries.
Covid-19 Impact
In Recent Years many countries faced strict lockdowns due to the covid-19 pandemic. These lockdowns have resulted in the partial or complete shutdown of manufacturing facilities. The shutdown of manufacturing facilities had a major impact on the consumption of materials. This led to reduced transportation resulting in a slowing down of updating the railway system. However, with the ease of lockdown manufacturing sector is expected to return to its normal growth. The global laser processing market is crowded with established players. These players have a commanding say in the market. The Configuration used in the laser processing market is proprietary and needs long-term research and development planning implemented efficiently.
Laser Processing Market Segmentation Analysis
On the basis of revenue, the laser processing market is segmented into laser revenue and system revenue. During the projection period, the system revenue segment is expected to have a bigger market share. System revenue includes sales of laser processing systems for marking and engraving, welding and brazing, cutting and scribing, drilling, cladding & coating, annealing, material removal, and other multi-function laser processing systems. Based on laser type, the laser processing market is divided into gas lasers, solid lasers, and liquid lasers. The category of solid lasers is predicted to increase at the fastest rate. Solid lasers use less active medium material and provide both continuous and pulsed output with great efficiency. These lasers have a wide range of uses, including drilling holes in metals, endoscopy in medicine, and military targeting. On the basis of configuration, the laser processing market is segmented into laser processing configuration, laser cutting, and engraving configuration. During the forecast period, the hybrid configuration segment is expected to have the greatest share of the laser processing market. Because it maintains a consistent beam delivery route length and allows for a comparably simpler beam delivery system, a hybrid system is more efficient than a moving beam system. This is because the hybrid system includes a moving table and a movable head. Based on End-Use, the laser processing market is divided into microelectronics, micromachining, aerospace & defense, medical & life sciences, automotive, architecture, and machine tools. The architectural end-user industry is predicted to expand the fastest. Lasers aid architects in constructing exact construction models. These models may precisely portray the design prior to construction, allowing revisions to be made to eliminate defects or prevent the effects of climatic factors such as rain, large storms, and other unavoidable natural situations.
Laser Processing Market Country-wise Insights
Its major share is occupied by Asia Pacific, North America, Middle East & Africa (MEA), and Europe. Asia Pacific shares 41% of the total market. The factors contributing to the region’s market growth include the increasing number of laser processing production in plants and the rapid usage of laser processing. The market in the region is expanding as a result of increased foreign investment due to low labor costs and the availability of raw resources.
Key Market Segments: Laser Processing Market
Laser Processing Market by Revenue
- Laser Revenue
- System Revenue
Laser Processing Market by Laser Type
- Gas Lasers
- Solid Lasers
- Liquid Lasers
Laser Processing Market by Configuration
- Laser Processing Configuration
- Laser Cutting and Engraving Configuration
Laser Processing Market by End-Use
- Microelectronics
- Micromachining
- Aerospace & Defense
- Medical & Life Sciences
- Automotive
- Architecture
- Machine Tools
Frequently asked questions with answers
What are the growth opportunities in laser processing market, globally?
The increased need for lasers in numerous industries will generate considerable market expansion.
What is the CAGR of laser processing market?
The global laser processing market registered a CAGR of 4.29% from 2023 to 2030.
Which are the top companies to hold the market share in the laser processing market?
Key players profiled in the report include Coherent, Trumpf, Han’s Laser, IPG Photonics, Jenoptik, Lumentum, Gravotech, LaserStar, Lumibird, Epilog Laser, Altec GmbH, Alpha Nov laser, Amada Co. Bystronic Laser AG, Epilog Laser Inc., Eurolaser GmbH, Han’s Laser Technology Industry Group Co. Ltd., IPG Photonics Corporation, Newport Corporation (MKS Instruments Inc.), LaserStar Technologies Corporation, IPG Photonics Corporation, Newport Corporation, Universal Laser Systems Inc., Xenetech Global Inc.
Which is the largest regional market for laser processing market?
Asia Pacific holds the largest regional market for the laser processing market.
What are the key factors hampering the growth of the market?
Stringent government regulations will hinder the growth of the market.
Table of Content
- Introduction
- Market Definition
- Market Segmentation
- Research Timelines
- Assumptions and Limitations
- Research Methodology
- Data Mining
- Secondary Research
- Primary Research
- Subject-Matter Experts’ Advice
- Quality Checks
- Final Review
- Data Triangulation
- Bottom-Up Approach
- Top-Down Approach
- Research Flow
- Data Sources
- Data Mining
- Executive Summary
- Market Overview
- Global Market Outlook
- Market Drivers
- Market Restraints
- Market Opportunities
- Impact of Covid-19 On Global Laser Processing Market
- Global Market Outlook
- Global Market by Revenue, (USD Million)
- Laser Revenue
- System Revenue
- Global Laser Processing Market by Laser Type, (USD Million)
- Gas Lasers
- Solid Lasers
- Liquid Lasers
- Global Laser Processing Market by Configuration, (USD Million)
- Configuration
- Laser Cutting and Engraving Configuration
- Global Laser Processing Market by End-Use, (USD Million)
- Microelectronics
- Micromachining
- Aerospace & Defense
- Medical & Life Sciences
- Automotive
- Architecture
- Machine Tools
- Global Laser Processing Market by Region, (USD Million)
- Introduction
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- South-East Asia
- Rest of Asia-Pacific
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Russia
- Rest of Europe
- South America
- Brazil
- Argentina
- Colombia
- Rest of South America
- Middle East and Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
- Company Profiles
List of Tables
Table 1 Global Laser Processing Market By Fabric Material (USD Millions) 2023-2030 Table 2 Global Laser Processing Market By Filter Media (USD Millions) 2023-2030 Table 3 Global Laser Processing Market By End User (USD Millions) 2023-2030 Table 4 Global Market By Region (USD Millions) 2023-2030 Table 5 US Market By Fabric Material (USD Millions) 2023-2030 Table 6 Us Market By Filter Media (USD Millions) 2023-2030 Table 7 Us Market By End User (USD Millions) 2023-2030 Table 8 Canada Laser Processing Market By Fabric Material (USD Millions) 2023-2030 Table 9 Canada Market By Filter Media (USD Millions) 2023-2030 Table 10 Canada Market By End User (USD Millions) 2023-2030 Table 11 Mexico Laser Processing Market By Fabric Material (USD Millions) 2023-2030 Table 12 Mexico Market By Filter Media (USD Millions) 2023-2030 Table 13 Mexico Market By End User (USD Millions) 2023-2030 Table 14 Brazil Laser Processing Market By Fabric Material (USD Millions) 2023-2030 Table 15 Brazil Market By Filter Media (USD Millions) 2023-2030 Table 16 Brazil Market By End User (USD Millions) 2023-2030 Table 17 Argentina Laser Processing Market By Fabric Material (USD Millions) 2023-2030 Table 18 Argentina Market By Filter Media (USD Millions) 2023-2030 Table 19 Argentina Market By End User (USD Millions) 2023-2030 Table 20 Colombia Laser Processing Market By Fabric Material (USD Millions) 2023-2030 Table 21 Colombia Market By Filter Media (USD Millions) 2023-2030 Table 22 Colombia Market By End User (USD Millions) 2023-2030 Table 23 Rest Of South America Laser Processing Market By Fabric Material (USD Millions) 2023-2030 Table 24 Rest Of South America Market By Filter Media (USD Millions) 2023-2030 Table 25 Rest Of South America Market By End User (USD Millions) 2023-2030 Table 26 India Market By Fabric Material (USD Millions) 2023-2030 Table 27 India Market By Filter Media (USD Millions) 2023-2030 Table 28 India Market By End User (USD Millions) 2023-2030 Table 29 China Market By Fabric Material (USD Millions) 2023-2030 Table 30 China Market By Filter Media (USD Millions) 2023-2030 Table 31 China Market By End User (USD Millions) 2023-2030 Table 32 Japan Market By Fabric Material (USD Millions) 2023-2030 Table 33 Japan Market By Filter Media (USD Millions) 2023-2030 Table 34 Japan Market By End User (USD Millions) 2023-2030 Table 35 South Korea Market By Fabric Material (USD Millions) 2023-2030 Table 36 South Korea Market By Filter Media (USD Millions) 2023-2030 Table 37 South Korea Market By End User (USD Millions) 2023-2030 Table 38 Australia Market By Fabric Material (USD Millions) 2023-2030 Table 39 Australia Market By Filter Media (USD Millions) 2023-2030 Table 40 Australia Market By End User (USD Millions) 2023-2030 Table 41 South-East Asia Market By Fabric Material (USD Millions) 2023-2030 Table 42 South-East Asia Market By Filter Media (USD Millions) 2023-2030 Table 43 South-East Asia Market By End User (USD Millions) 2023-2030 Table 44 Rest Of Asia Pacific Market By Fabric Material (USD Millions) 2023-2030 Table 45 Rest Of Asia Pacific Market By Filter Media (USD Millions) 2023-2030 Table 46 Rest Of Asia Pacific Market By End User (USD Millions) 2023-2030 Table 47 Germany Laser Processing Market By Fabric Material (USD Millions) 2023-2030 Table 48 Germany Market By Filter Media (USD Millions) 2023-2030 Table 49 Germany Market By End User (USD Millions) 2023-2030 Table 50 Uk Laser Processing Market By Fabric Material (USD Millions) 2023-2030 Table 51 Uk Market By Filter Media (USD Millions) 2023-2030 Table 52 Uk Market By End User (USD Millions) 2023-2030 Table 53 France Laser Processing Market By Fabric Material (USD Millions) 2023-2030 Table 54 France Market By Filter Media (USD Millions) 2023-2030 Table 55 France Market By End User (USD Millions) 2023-2030 Table 56 Italy Laser Processing Market By Fabric Material (USD Millions) 2023-2030 Table 57 Italy Market By Filter Media (USD Millions) 2023-2030 Table 58 Italy Market By End User (USD Millions) 2023-2030 Table 59 Spain Market By Fabric Material (USD Millions) 2023-2030 Table 60 Spain Market By Filter Media (USD Millions) 2023-2030 Table 61 Spain Market By End User (USD Millions) 2023-2030 Table 62 Russia Laser Processing Market By Fabric Material (USD Millions) 2023-2030 Table 63 Russia Market By Filter Media (USD Millions) 2023-2030 Table 64 Russia Market By End User (USD Millions) 2023-2030 Table 65 Rest Of Europe Laser Processing Market By Fabric Material (USD Millions) 2023-2030 Table 66 Rest Of Europe Market By Filter Media (USD Millions) 2023-2030 Table 67 Rest Of Europe Market By End User (USD Millions) 2023-2030 Table 68 UAE Laser Processing Market By Fabric Material (USD Millions) 2023-2030 Table 69 UAE Market By Filter Media (USD Millions) 2023-2030 Table 70 UAE Market By End User (USD Millions) 2023-2030 Table 71 Saudi Arabia Market By Fabric Material (USD Millions) 2023-2030 Table 72 Saudi Arabia Market By Filter Media (USD Millions) 2023-2030 Table 73 Saudi Arabia Market By End User (USD Millions) 2023-2030 Table 74 South Africa Market By Fabric Material (USD Millions) 2023-2030 Table 75 South Africa Market By Filter Media (USD Millions) 2023-2030 Table 76 South Africa Market By End User (USD Millions) 2023-2030 Table 77 Rest Of Middle East And Africa Market By Fabric Material (USD Millions) 2023-2030 Table 78 Rest Of Middle East And Africa Market By Filter Media (USD Millions) 2023-2030 Table 79 Rest Of Middle East And Africa Laser Processing Market By End User (USD Millions) 2023-2030List of Figures
Figure 1 Market Dynamics Figure 2 Market Segmentation Figure 3 Report Timelines: Years Considered Figure 4 Data Triangulation Figure 5 Bottom-Up Approach Figure 6 Top-Down Approach Figure 7 Research Flow Figure 8 Global Laser Processing Market by Laser Type, USD Million, 2023-2030 Figure 9 Global Market by Revenue, USD Million, 2023-2030 Figure 10 Global Market By End-Use USD Million, 2023-2030 Figure 11 Global Market By Region, USD Million, 2023-2030 Figure 12 Porter’s Five Forces Model Figure 13 Market by Region 2020 Figure 14 Market Share Analysis Figure 15 Coherant: Company Snapshot Figure 16 Trumpf: Company Snapshot Figure 17 Han’s Laser: Company Snapshot Figure 18 Ipg Photonics: Company Snapshot Figure 19 Jenoptik: Company Snapshot Figure 20 Lumentum: Company Snapshot Figure 21 Gravotech: Company Snapshot Figure 22 Laserstar: Company Snapshot Figure 23 Lumibird: Company Snapshot Figure 24 Epilog Laser: Company Snapshot Figure 25 Altec Gmbh: Company Snapshot Figure 26 Alpha Nov Laser: Company Snapshot Figure 27 Amada Co. Ltd.: Company Snapshot Figure 28 Bystronic Laser Ag: Company Snapshot Figure 210 Epilog Laser Inc.: Company Snapshot Figure 30 Eurolaser Gmbh: Company Snapshot Figure 31 Han’s Industry Group Co. Ltd.: Company Snapshot Figure 32 Ipg Photonics Corporation: Company Snapshot Figure 33 Newport Corporation (Mks Instruments Inc.): Company Snapshot Figure 34 Laserstar Technologies Corporation: Company Snapshot Figure 35 Ipg Photonics Corporation: Company Snapshot Figure 36 Newport Corporation: Company Snapshot Figure 37 Universal Laser Systems Inc.: Company Snapshot Figure 38 Xenetech Global Inc.: Company SnapshotSelect PDF License
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