NEW
YORK, July 16, 2024 /PRNewswire/ -- The global
industrial laser market size is estimated to grow by USD 2.89 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
7.58% during the forecast period. Growing demand for
industrial lasers from several industries is driving market
growth, with a trend towards government support and
initiatives associated with industrial lasers.
However, limited material compatibility of industrial lasers
poses a challenge. Key market players include Active Fiber
Systems GmbH, AdValue Photonics Inc, AISIN CORP., Amonics Ltd.,
Calmar Laser Inc., Coherent Inc., FANUC Corp., Hamamatsu Photonics
KK, Hans Laser Technology Industry Group Co. Ltd., IPG Photonics
Corp., Jenoptik AG, Laserglow Technologies, Laserline GmbH,
Lumentum Holdings Inc., MKS Instruments Inc., nLIGHT Inc., Nuphoton
Technologies Inc., Photonics Industries International Inc.,
Precitec GmbH and Co. KG, TroGroup GmbH, TRUMPF SE Co. KG, and
VYDENCE Medical.
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Industrial Laser
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
7.58%
|
Market growth
2024-2028
|
USD 2.89
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
7.23
|
Regional
analysis
|
APAC, North America,
Europe, Middle East and Africa, and South America
|
Performing market
contribution
|
APAC at 33%
|
Key
countries
|
US, China, Japan,
Germany, and UK
|
Key companies
profiled
|
Active Fiber Systems
GmbH, AdValue Photonics Inc, AISIN CORP., Amonics Ltd., Calmar
Laser Inc., Coherent Inc., FANUC Corp., Hamamatsu Photonics KK,
Hans Laser Technology Industry Group Co. Ltd., IPG Photonics Corp.,
Jenoptik AG, Laserglow Technologies, Laserline GmbH, Lumentum
Holdings Inc., MKS Instruments Inc., nLIGHT Inc., Nuphoton
Technologies Inc., Photonics Industries International Inc.,
Precitec GmbH and Co. KG, TroGroup GmbH, TRUMPF SE Co. KG, and
VYDENCE Medical
|
Market Driver
Government initiatives are significantly boosting the global
industrial laser market. Various governments worldwide are funding
research and development in industrial lasers through programs like
the EU's Horizon Europe and the US's Small Business Innovation
Research (SBIR). These initiatives provide financial support to
businesses and organizations, encouraging the adoption of
industrial lasers in industries such as aerospace and defense.
Additionally, governments establish regulations and standards, like
OSHA and IEC, ensuring safe and efficient use. These favorable
policies and incentives are expected to fuel the market's growth
during the forecast period.
The industrial laser market is thriving with advancements in
CO2, solid state, diode/excimer, and fiber lasers. CO2 lasers lead
in macro material processing, while fiber lasers excel in high
efficiency and accuracy for varied applications. Solid state lasers
offer energy efficiency and compact marking solutions. Diode
modules power micro processing and deep marking solutions. Excimer
lasers deliver blind hole machining and micro cutting. Long life
expectancy and optimum flexibility make these lasers ideal for
industries like medical and electronics. Political uncertainties
impact the market, but automation and high precision processing
remain key trends. Laser processing machines cater to complex
product processing, macro material processing, and laser engraving
applications. High accuracy and personalization are driving demands
for laser machines in different materials. Laser processing offers
solutions for 3D micro milling, blind hole machining, micro
cutting, and macro processing.
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Market Challenges
- Industrial lasers offer significant benefits for material
processing, yet achieving consistent results across various
materials poses challenges. Material reflectivity and absorption
properties impact laser efficiency and interaction. Metals with
high reflectivity can be difficult to process uniformly. Thickness
and thermal conductivity variations affect laser response.
Non-uniform surfaces and irregular shapes can impact processing
uniformity. Thermal effects from laser processing can lead to
material distortion and residual stresses, which can be problematic
in applications requiring material integrity. In industries like
healthcare and automotive, dealing with materials of unknown or
variable properties adds to the complexity. Lack of comprehensive
knowledge about laser processing requirements for specific
materials can hinder the industrial laser market's growth. Limited
material compatibility is a significant challenge.
- The industrial laser market is experiencing significant growth
due to increasing automation and high efficiency demands in various
industries. Laser processing offers high precision and accuracy for
varied applications on different materials. The market caters to
complex product processing in sectors like automotive, industrial
machinery, aerospace, construction, and more. Laser machines
provide optimum flexibility and personalization through laser
engraving applications. Laser processing machines enhance
productivity and improve time-efficiency in material processing.
Industrial laser sources, with multiple secondary sources, cater to
welding applications in e-mobility and commercial vehicles.
Foreign investment restrictions and special purpose applications in
new energy and construction sectors present challenges. However,
laser systems offer enhanced flexibility and improved productivity,
reducing errors and waste, and enabling faster Time-To-Market.
Laser manufacturers focus on customization, 3D manufacturing, and
additive manufacturing for commercial applications. The market
includes laser metal deposition, selective laser melting, and
optimization technologies. 3D printing and machine tools component
manufacturing are also key areas of growth. Overall, the industrial
laser market offers significant benefits, including reduced costs
and improved accuracy, making it a valuable investment for
businesses.
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Segment Overview
This industrial laser market report extensively covers market
segmentation by
- Type
- 1.1 Macro processing
- 1.2 Micro processing
- Power Output
- 2.1 More than 1.1 kW
- 2.2 Less than 1 kW
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Macro processing- The macro processing
segment of the industrial laser market refers to lasers used for
large-scale material processing in industries. These lasers, which
include CO2, fiber, and solid-state types, are essential for
heavy-duty manufacturing applications such as automotive,
aerospace, shipbuilding, and heavy machinery production. Macro
processing lasers are designed for cutting, welding, and drilling
thick materials like metals, plastics, and composites. With power
outputs of 1 kilowatt (KW) or more, they offer high precision and
speed. Macro processing lasers can handle complex operations like
bevel cutting and multi-axis welding, increasing efficiency and
productivity. Their versatility in handling various industrial
applications and materials makes them indispensable tools for
manufacturers. As a result, the macro processing segment is
expected to significantly contribute to the growth of the global
industrial laser market during the forecast period.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
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Research Analysis
The industrial laser market is experiencing significant growth
due to the increasing demand for automation, high efficiency, and
accuracy in various industries. Laser processing offers high
precision processing for a varied range of applications and
materials, including automotive, industrial machinery, aerospace,
construction, and more. Industrial laser machines provide optimum
flexibility and personalization through laser engraving
applications. These machines are essential for complex product
processing, offering enhanced flexibility, improved productivity,
and time-efficiency. Industrial laser sources, such as fiber lasers
and CO2 lasers, are the backbone of these systems, with multiple
secondary sources ensuring consistent performance. With the ability
to weld and cut different materials, industrial lasers are
revolutionizing material processing, offering high accuracy and
time-efficiency for businesses seeking to stay competitive in
today's market.
Market Research Overview
The industrial laser market is experiencing significant growth
due to the increasing demand for automation, high efficiency, and
accuracy in various industries. Laser processing offers high
precision processing for varied applications and different
materials, providing optimum flexibility and personalization.
Industrial laser machines are used for complex product processing
in automotive, industrial machinery, aerospace, construction, and
other sectors. These laser systems offer enhanced flexibility and
improved productivity, reducing errors and waste, and providing
faster Time-To-Market. Industrial laser sources include CO2 lasers,
solid state lasers, diode/excimer lasers, fiber lasers, and others.
Applications include laser engraving, additive manufacturing, laser
metal deposition, selective laser melting, optimization, and more.
Laser processing machines are also used for 3D micro milling, blind
hole machining, micro cutting, and macro processing. Energy
efficiency and long life expectancy are key benefits, with compact
marking solutions and deep marking solutions available for specific
applications. Political uncertainties and foreign investment
restrictions may impact the market, but the trend towards
customization, new energy, e-mobility, commercial vehicles,
passenger cars, and 3D printing is driving growth.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Macro Processing
- Micro Processing
- Power Output
-
- More Than 1.1 KW
- Less Than 1 KW
- Geography
-
- APAC
- North America
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
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technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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