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. Request for a Free PDF sample of this report: https://www.imarcgroup.com/laser-processing-market/requestsampleWhat 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 applicationBreakup by Process:
-
- Material Processing
-
- Marking and Engraving
-
- Micro-Processing
Analysed by Product:
-
- Gas
-
- Solid-State
-
- Fiber
-
- Others
Based on Application:
-
- Automotive
-
- Aerospace
-
- Machine Tools
-
- Electronics and Microelectronics
-
- Medical
-
- Packaging
Regional Analysis:
-
- 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
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. IMARC’s 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 company’s expertise. IMARC Group employs a robust research methodology which involves data triangulation using an amalgamation of bottom-up and top-down approaches and validation of the final market numbers through expert interviews. We use our extensive database of macroeconomic and sector-specific data to generate the industry forecast. Growth rates exhibited by the market are calculated based on numerous factors and their level of impact on the market. Contact Us: IMARC Group 134 N 4th St. Brooklyn, NY 11249, USA USA: +1-631-791-1145 | Asia: +91-120-433-0800 Email: sales@imarcgroup.com Follow us on Twitter: @imarcglobal LinkedIn: https://www.linkedin.com/company/imarc-group/mycompany/