In the year 2015 the global laser processing market was sized at $10.36 billion and is estimated to grow at a significant rate due to the increase in material processing applications. Precise and accurate operations of industrial processes are achieved by implementing the laser technology in manufacturing.
The regulations and the norms set by the governments are expected to positively affect the growth of laser processing market in next few years. Due to their increased usage in various applications ranging from marking, cutting to welding, drilling, engraving the technology all set to witness tremendous growth in during the forecast period.
The strict directives set by the governments on the usage of laser technology in marking and its increased use in the growing field of medical surgeries and devices is expected to drive the laser processing market in the near future.
Browse Full Research Report @
The products related to laser technology consist of fiber, gas and solid-state lasers. Gas segment consists of nitrogen, copper, carbon monoxide, carbon dioxide, helium-neon and argon-ion lasers.
Solid state lasers are further divided into YAG or Nd lasers, Q-switched Nd lasers, small-diode pumped Nd, YVO4 lasers and large sized lasers in end or side pumped configuration. Manufacturers are benefitted by the use of fiber lasers with their use in the manufacturing technology which acts as a driver fir the market.
Varied field applications in the fields such as aerospace, machine tools, automotive, medical and packaging is estimated to fuel the global laser processing market over the forecast period.
Laser processing segment consists of marking and engraving, material processing and micro-processing. This section comprises of all the major factors of laser and material processing involving implementation of laser beam welding, hybrid processes, micro drilling, surface modifications, ablation of bulk material and coatings, cutting & machining direct manufacturing and so on.
Crude oil extraction that involves mainly mining and drilling activities is largely benefitted by laser technology. Aerotech offers development in main areas such as mechanics, laser controls and controls. They also aid the system integrators, OEMs, end users using processes such as cutting systems, marking, welding, etching and marking systems.
Furthermore, the engagement of laser technology with water-jet cutting technology in smooth surface with narrow cuts, increases the overall efficiency subsequently fuelling the market growth over next few years.
Request Sample Copy of this Market Research @
Application segment mainly includes OEMs, Automotive, electronics and microelectronics, aerospace, medical and packaging. Rise in the rate of adoption of laser in various industrial applications such as cutting, welding, drilling engraving and various material processing activities is expected to drive the market to new growth heights in the next few years particularly due to extensive use of this technology as machine tools.
The ever increasing demand in the fields of microelectronics and medical sector is expected to drive laser processing growth. Key role is played by the process of welding the medical applications primarily such as implantable devices, pacemakers, surgical tools which involve non-porous and ultra-fine sterile surfaces which are implemented in cardio logical processes.
Emerging applications in the fields of oil and gas and automotive sector will fuel the growth of laser technology along with the increase in the usage of machine tools over the next few years. Moreover, high speeds offered by laser cutting, improves the quality of cutting edges and provides the material in automotive segment with low-heat operation.
Largest market share was accounted by the Asia-Pacific region in the year 2015 consuming over 30% of overall revenue. It is expected to witness substantial growth due to the rising number of OEMs in this region. Moreover, key consumer of industrial laser and subsystems is expected to be China which is raising its applications in material processing and micro processing.
Regulations set by governments that lay permanent and clear paths for the use of laser processing are also expected to drive the growth of laser processing technology across several regions. Additionally, the growing automotive sector in the European region with rising adoption of laser processing are expected to boost the demand of this technology over the forecast period.
Few major global players present intense competition which essentially is the characteristic of the market. These key players hold a majority of the market share. New product developments and research procedures are undertaken by firms so that newer business opportunities are available in front of them.
Universal Laser Systems is the firm that provides products to the military branches and security agencies for custom parts fabrication, asset management and other security and production uses. Naval bases, Air bases and military bases all over the world use this technology. Major players in the market are LaserStar Technologies, Amanda Co. Ltd., IPG Photonics Corporation and Newport Corporation.
Get in touch
At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions.
Research Support Specialist, USA