The report offers a 360-degree overview of the “Industrial Lasers“ market primarily focusing on growth trajectories such as drivers, restraints, challenges, and opportunities. It also throws light on major industry developments, interesting insights into the market and the current industrial laser market trends. The report also presents a detailed list of segmentation and significant players operating in the market. For more information on the report or to purchase the report, one may visit the company website.
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The global industrial lasers market size is expected to reach USD 14.52 billion by 2028. As per the report published by Fortune Business Insights™ titled, “Industrial Lasers Market Size, Share & Industry Analysis, By Product (CO2 Laser, Solid State Laser, Diode/Excimer Laser, Fiber Laser and Others), By Application (Macro Processing, Micro Processing, Marking & Engraving), and Regional Forecast, 2019-2028, “the market value was USD 5.66 billion in 2018. The forecast period is set from 2018 to 2028, and the market is anticipated to exhibit a CAGR of 12.4% attributed to the increase in laser processing in automation.
The list of significant industrial laser source market manufacturers include:
- Lumentum Operations LLC
- Bystronic Laser AG
- Newport Corporation.
- Calmar Laser
- nLight, Inc.
- JENOPTIK AG
- IPG Photonics Corporation
- Coherent Inc.
- Amonics Ltd.
Flexibility and time-efficiency Properties of Laser Systems Stands as Major Growth Driver for Market
Laser systems provide various advantages such as improved productivity, time-efficiency, and flexibility. Thus, laser systems are widely on-demand from material processing especially across various applications such as aerospace, construction, industrial machinery, automotive, and others. This is a crucial industrial laser market growth factor. In addition, the transition of the automotive industry towards e-mobility will also help to increase the industrial laser market size in the forecast period. Moreover, there is a rise in demand for welding applications that further propel the growth of the automotive sector. This ultimately is expected to promote the overall industrial laser market growth during the forecast period. Furthermore, the advent of 3D manufacturing into automobiles will also help to attract high revenue in the foreseeable future.
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Major Segments Includes:
1. By Product
- CO2 Laser
- Solid State Laser
- Diode/Excimer Laser
- Fiber Laser
2. By Application
- Macro Processing
- Micro Processing
- Marking and Engraving
5. By Region
- North America (the U.S. and Canada)
- Europe (Germany, UK, France, and the Rest of Europe)
- Asia Pacific (Japan, China, India, and the Rest of Asia Pacific)
- The Rest of the World
Asia Pacific to Emerge Dominant on Account of Increasing Demand for Consumer Electronics in China
Some of the key industry developments of the industrial laser market are listed below:
December 2018 – The Photonics GmbH was acquired by TRUMPF from Philips. This acquisition strategy is adopted for strengthening the product portfolio of TRUMPF by adding high-power diode lasers.
November 2019 – nLIGHT ®, Inc. announced the advent of their welding fiber laser family with a range of 3kW to 15Kw. This new laser is integrated with a beam switch or fiber coupler and will be utilized to serve various cladding, robotics, and welding applications.
Discovery of new oil wells is likely to fuel the demand in the global market. Moreover, clinical studies taking place to increase the productivity of existing wells is expected to drive the market.
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Major Table of Content For Industrial Lasers Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Industrial Lasers Market Analysis, Insights and Forecast, 2028
- North America Industrial Lasers Market Analysis, Insights and Forecast, 2028
- Europe Industrial Lasers Market Analysis, Insights and Forecast, 2028
- Asia Pacific Industrial Lasers Market Analysis, Insights and Forecast, 2028
- Middle East and Africa Industrial Lasers Market Analysis, Insights and Forecast, 2028
- Latin America Industrial Lasers Market Analysis, Insights and Forecast, 2028
- Competitive Landscape
- Company Profile
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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