Laser Processing Market Size was valued at USD 19.05 billion in 2022, and expected to reach USD 37.69 billion by 2030, and grow at a CAGR of 8.9% over the forecast period 2023-2030.
Laser processing is a technique that uses lasers in a variety of industrial and commercial applications. It is used in operations such as cutting, welding, and drilling. Engraving, material processing, marking, and other micro-processing are examples of industrial processes that use laser processing. Laser technology has several advantages over traditional techniques such as plasma, flame, and water jet. Waterjet is used for structuring and ablation, whereas plasma and flame technologies are used for cutting rather than engraving, marking, or drilling. Waterjet, on the other hand, produces a lot of noise while operating, which makes it inconvenient for material processing. Laser technology, on the other hand, can perform all of the aforementioned tasks with minimal noise pollution. Lasers are also used to engrave and mark consumer goods, electronic components, and industrial machinery. This technology is widely used in the automotive, aerospace, original equipment manufacturers (OEM), electronics, medical, packaging, and other end-use industries. All of these factors are contributing to the global expansion of the laser processing market share.
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Technological advancements in the medical field.
Rising demand for high-quality, authentic products.
Laser-based material processing is preferred over traditional methods.
lack of personnel with the necessary technical expertise.
Automation is becoming more prevalent in the manufacturing sector.
Growing number of application areas are being explored.
Custom marking and engraving are in high demand.
Concerns have been raised about the use of rare earth elements in the environment.
High-power laser technical complexities.
The COVID-19 pandemic has slowed growth in a number of industries, including automobiles, oil and gas, and others. It has three major effects on the global economy: it has a direct impact on production and demand, it disrupts supply chains and markets, and it has a financial impact on businesses and financial markets. The COVID-19 outbreak has posed a significant strategic threat to electronics and manufacturing companies in recent months. Raw material supply disruptions, temporary manufacturing unit shutdowns, insufficient finance, and weak consumer demand have all harmed the electronics and semiconductor manufacturing industries. All of these factors are impeding the global growth of the laser processing market.
Based on product, the laser processing market is segmented into Gas Lasers, Liquid Lasers, Solid Lasers and Others. The segment of solid lasers is expected to grow at the fastest rate. Solid lasers use less active medium material and produce both continuous and pulsed output with high efficiency. These lasers have numerous applications, including metal drilling, endoscopy in medicine, and military targeting.
Based on configuration, the laser processing market is segmented into Laser Cutting and Engraving Configuration and Laser Processing Configuration. During the forecast period, the hybrid configuration segment is expected to hold the largest share of the laser processing market. Because it provides a constant beam delivery path length and allows for a comparatively simpler beam delivery system, a hybrid system is more efficient than a moving beam system. This is because the hybrid system includes a movable table and a movable head.
Based on end user industry, the laser processing market is segmented into Microelectronics, Aerospace & Defense, Automotive, Machine Tools, Micromachining, Medical & Life Sciences, Architecture and Others. The architecture end-user industry is expected to grow the fastest. Lasers aid architects in creating precise building models. These models can accurately represent the design prior to construction, allowing changes to be made to eliminate flaws or avoid the effects of climatic conditions such as rain, heavy storms, and other unavoidable natural circumstances.
Based on application, the laser processing market is segmented into Cutting, Welding, Microprocessing, Drilling, Marking & Engraving, Additive manufacturing and Others. Based on type, the laser processing market is segmented into Moving beam, Fixed beam and Hybrid beam.
Laser Cutting and Engraving Configuration
Laser Processing Configuration
Marking & Engraving
BY END USER INDUSTRY
Aerospace & Defense
Medical & Life Sciences
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During the forecast period, Asia Pacific (APAC) is expected to account for the largest share of the global laser processing market. China, Japan, South Korea, and India are the major contributors to the APAC market. When compared to other regions, APAC has been the most aggressive in adopting laser processing solutions. High population density, increased R&D investments in technology, and expansion of the manufacturing and electronics sectors are expected to drive market growth in the region.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
The key players in the laser processing market are Bystronic Laser, Epilog Laser, Newport Corporation, LaserStar Technologies, Jenoptik Lase, Amand, Coherent, IPG Photonics Corporation, Prima Industries, The Needham Group & Other Players.
Epilog Laser-Company Financial Analysis
|Market Size in 2022
|US$ 19.05 Billion
|Market Size by 2030
|US$ 37.69 Billion
|CAGR 8.9% From 2023 to 2030
|Report Scope & Coverage
|Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
|• By Product (Gas Lasers, Liquid Lasers, Solid Lasers, Others)
• By Type (Moving Beam, Fixed Beam, Hybrid Beam)
• By Configuration (Laser Cutting And Engraving Configuration, Laser Processing Configuration)
• By Application (Cutting, Welding, Microprocessing, Drilling, Marking & Engraving, Additive Manufacturing, Others)
• By End Use Industry (Microelectronics, Aerospace & Defense, Automotive, Machine Tools, Micromachining, Medical & Life Sciences, Architecture, Others)
|North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, +D11UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Bystronic Laser, Epilog Laser, Newport Corporation, LaserStar Technologies, Jenoptik Lase, Amand, Coherent, IPG Photonics Corporation, Prima Industries and The Needham Group.
|•Technological advancements in the medical field.
•Rising demand for high-quality, authentic products.
•lack of personnel with the necessary technical expertise.
The market value is expected to reach USD 37.69 billion by 2030.
The key players in the laser processing market are Bystronic Laser, Epilog Laser, Newport Corporation, LaserStar Technologies Corporation, Jenoptik Lase, Amand, Coherent, IPG Photonics Corporation, Prima Industries and The Needham Group.
Technological advancements in the medical field, Rising demand for high-quality, authentic products and Laser-based material processing is preferred over traditional methods.
Yes, and they are Raw material vendors, Distributors/traders/wholesalers/suppliers, Regulatory authorities, including government agencies and NGO, Commercial research & development (R&D) institutions, Importers and exporters, Government organizations, research organizations, and consulting firms, Trade/Industrial associations, End-use industries.
Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
184.108.40.206 United Kingdom
220.127.116.11 South Korea
18.104.22.168 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Laser Processing Market Segmentation, by product
8.2 Gas Lasers
8.3 Liquid Lasers
8.4 Solid Lasers
9. Laser Processing Market Segmentation, by type
9.2 Moving beam
9.3 Fixed beam
9.4 Hybrid beam
10. Laser Processing Market Segmentation, by configuration
10.2 Laser Cutting and Engraving Configuration
10.3 Laser Processing Configuration
11. Laser Processing Market Segmentation, by application
12.3 Aerospace & Defense
12.5 Machine Tools
12.7 Medical & Life Sciences
12. Laser Processing Market Segmentation, by end use industry
12.2 Construction and infrastructure
13. Regional Analysis
13.2 North America
13.3.6 The Netherlands
13.3.7 Rest of Europe
13.4.2 South Korea
13.4.6 Rest of Asia-Pacific
13.5 The Middle East & Africa
13.5.3 South Africa
13.6 Latin America
13.6.3 Rest of Latin America
14.1 The Needham Group.
14.1.2 Products/ Services Offered
14.1.3 SWOT Analysis
14.1.4 The SNS view
14.2 Bystronic Laser
14.3 Epilog Laser
14.4 Newport Corporation
14.5 LaserStar Technologies Corporation
14.6 Jenoptik Laser
14.9 IPG Photonics Corporation
14.10 Prima Industries
15.1 Competitive Benchmark
15.2 Market Share analysis
15.3 Recent Developments
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