Laser Processing Market Analysis
Market Research Future (MRFR) projects the
global laser
Processing Market is estimated to reach USD 45.3 Billion by 2030,
registering a 9.20% CAGR during the forecast period, 2022-2030.
Rising Need for Miniaturization of Products and
Microelectronic Devices
Laser processing is a non-contact processing
technique that uses a laser beam to cut/slice materials, resulting in high
quality, smooth, and dimensionally correct cuts for the manufacturer. The
approach is widely employed in applications ranging from surface treatment,
structuring, modification, and controlled surface plastic deformation to
micro/nanofabrication techniques. This process improves material damage
resistance and provides composites with no microcracks. The global laser
processing industry is expanding due to a variety of causes. The preference of
manufacturers for laser processing techniques over traditional processing
techniques is propelling market expansion. The growing need for product miniaturization
and microelectronic device miniaturization is also projected to drive market
expansion. Furthermore, increased automation in manufacturing facilities has
generated the potential for growth in the worldwide laser processing industry.
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Market Segmentation
The global laser processing market has been
segmented based on product, laser type, application, and end-user.
On the basis of product, the global laser
processing market has been segmented into gas lasers, solid-state lasers, fiber
lasers, and others.
On the basis of laser type, the global laser
processing market has been segmented into fixed beam, moving beam, and hybrid
beam.
On the basis of application, the global laser
processing market has been segmented into cutting, marking, welding, drilling,
engraving, additive manufacturing, and others.
On the basis of end-user, the global laser
processing market has been segmented into automotive, aerospace & defense,
manufacturing, semiconductor & electronics, medical & life sciences,
packaging, oil & gas, and others.
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Regional Analysis
North America to Dominate the Global Market
North America dominated the laser processing
market in 2019 and is expected to continue to do so during the study period.
The rising demand for custom markings and engraving is likely to fuel North
American growth throughout the forecast period.
Key Players
MRFR identifies Altec GmbH (Germany), ALPhANOV
(France), Amada Co., Ltd (Japan), Bystronic Laser AG (Switzerland), Coherent
Inc. (US), Epilog Laser, Inc. (US), Eurolaser GmbH (Germany), Han's Laser
Technology Industry Group Co., Ltd. (China), IPG Photonics Corporation (US),
Newport Corporation (MKS Instruments, Inc.) (US), Prima Industries (Italy),
LaserStar Technologies Corporation (US), The Needham Group (Needham Coding)
(England), Jenoptik Laser GmbH (Germany), Q-Peak Inc. (US), ROFIN-SINAR Technologies
Inc. (US), SEI Laser (Italy), Trumpf GmbH + Co. KG (Germany), Universal Laser
Systems, Inc. (Japan), Xenetech Global Inc. (US), Trotec Laser GmbH (Austria),
FOBA (US), and Mitsubishi Electric (Japan) as the key players in the global
laser processing market.
Competitive Landscape
These players are focused on innovation and, as
a result, spend in R&D to deliver a cost-effective product portfolio.
Recent mergers and acquisitions among significant companies have occurred,
which are strategies that many company entities use to strengthen their reach
to customers.
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