Laser Processing Market
Laser Processing Market (By Process - Material processing, Marking and Engraving and Micro-processing) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Press Release :
Laser Processing Market - Overview
In recent years, laser processing market has been witnessing smooth growth owing to its precision and accuracy in industrial and manufacturing processes. Laser processing technique is being widely adopted in automotive sectors, machine tools, medical field, and microelectronics. Widening application range of the techniques is augmenting growth of laser processing market.
Further, the market is anticipated to show significant growth in coming years, owing to the usage of technique in drilling, welding, cutting, engraving, marking, and drilling. Laser cutting provides high processing rate, provides required amount heat input into the material. This improves the quality of edges.
In addition, favorable government regulatory pertaining to use of laser processing techniques for marking and engraving of products are anticipated to influence the growth of laser processing market.
Rising demand for laser processing techniques in microelectronics and medical sector are expected to push horizon of global laser processing market. Laser based welding plays a vital role in manufacturing of medical devices. Some of the key medical devices where laser processing technique is used are manufacture of implantable device, surgical tools with ultra-fine wires, and pacemakers.
Moreover, adoption of laser technology for surgical purposes is one field providing tremendous growth opportunities for growth of the laser processing market. Government regulations concerning to the use of laser in medical field is anticipated to fuel the market growth in coming years.
Advantages of laser technology for material processing over other conventional techniques are fueling the adoption of laser technology in industrial processes. Laser technology is used for processing wide range of materials including metals, non-metals, polymers, glass, rubber and others. This encourages manufacturers to adopt laser technology in their manufacturing operations. Growing automobile and aerospace industry across Europe and Asia Pacific regions is expected to drive demand for laser processing systems during the forecast period. Furthermore, laser processing systems are expected to witness high demand during the forecast period owing to the rising consumer electronics industry in countries such as China, South Korea and others.
Laser processing systems offer accurate processes at low costs as compared to conventional methods such as waterjet cutting, flame cutting and other processing methods. In addition, laser technology also offers permanent marking on consumer goods, electronic equipment and other products. Due to government regulations regarding clear marking on consumer products such as food, pharmaceuticals and others, laser technology is expected to be widely adopted for marking and engraving purpose. Furthermore, advanced laser products such as fiber lasers are expected to boost the demand for laser processing in manufacturing operations. These lasers offer large number of applications and are highly cost effective as compared to other laser products.
Material processing using laser technology led the global laser processing market with highest revenue share in 2013. This was mainly due to large number of applications offered by laser technology. Laser technology provides high precision cutting, welding, drilling and marking and engraving without damaging the material. Additionally, laser technology enables clean processes and minimal human intervention which helps in minimizing errors.
In 2013, Asia Pacific held the largest market share and accounted for 42.6% of the global laser processing market. This growth was attributed to the high demand for laser technology in material processing from original equipment manufacturers (OEM) in the region. The Asia Pacific region is also expected to be the fastest growing regional market for laser processing owing to the rise in number of manufacturing plants of different companies across this region. High demand for laser technology is majorly from countries such as Japan, China and South Korea. China is among the leading contributors to the laser processing market owing to high industry growth and presence of laser machine manufacturers such as Han’s Laser Technology Co. Ltd.
The global market for laser processing was dominated by leading players such as Trumpf GmbH + Co. KG, Amada Co. Ltd., Han’s Laser Technology Co. Ltd. and Rofin-Sinar Technologies Inc. These players together accounted for 49.4% share in 2013. The competition among these companies is expected to remain high over the forecast period. Other players in the laser processing market include Coherent Inc., Eurolaser GmbH, Epilog Laser Inc., IPG Photonics Corporation, Bystronic Laser AG and others.
Technological Advances Improves Efficiency and Quality of Products in Laser Processing Market
Laser processing has gained widespread adoption in machining of a wide variety of materials. The technology has become a key part of contemporary as well as some modern methods of machining and processing of metals in various industries world over. The laser processing market seems have to come a long way, in relation to continuous strides in the speed of the processes and efficiency. Over the past few decades, numerous new technologies have come to the front and a few have seen global commercialization. Some of the applications that have driven the revenue in the laser processing market are laser welding, surface texturing, thin film laser ablation, drilling and cutting, and additive manufacturing. Rise in adoption of the additive manufacturing methods has spurred the adoption of laser processing in several manufacturing industries over the past few years. Industry stakeholders in the laser processing market are in the relentless pursuit of improving the quality and energy efficiency of the processes. Growing utilization of laser processing techniques in surface contouring is a key trend in the market. Medical sector is expected to contribute substantial revenue prospects for manufacturers and vendors. Another promising applications area is electronics manufacturing, as laser processing is being utilized to yield thin film patterning in range of consumer electronics.
The COVID-19 pandemic and the subsequent outbreaks has caused devastating and unprecedented impacts on economic activities across the world. The government-imposed lockdowns that were the staple of many parts of the developing and developed nations crippled supply chain and logistics, especially in 2020. The pandemic is still persistent in some parts of the world, causing uncertainties. The post-pandemic world thus saw new business models in various industries, including in materials and product manufacturing sector. The laser processing market also witnessed loss of valuation due to prolonged decline in demand in the second quarter of 2020. Come 2021, the scenario has changed and industry players have become optimistic about related industries regain equilibrium in the near future. This will also spur the adoption of new, agile strategic models in the laser processing market.
Laser technology is used for different industrial processes including cutting, welding, drilling, marking and engraving. Laser processing market is expected to witness high demand during the forecast period owing to the wide applications of laser technology. Laser technology offers high speed and accurate industrial processes as compared to conventional industrial processing techniques. In addition, laser processing provides clean and a damage free operation as it is a non-contact process. This is one of the most important factors responsible for growing adoption of laser technology in manufacturing processes across the world. Rising demand for efficient material processing techniques in manufacturing industries is another driving factor for laser processing market. Additionally, miniaturization of electronics goods is another factor encouraging the adoption of laser technology for production of circuit boards, integrated circuits (ICs) and other electronics components. Laser technology is useful for processes such as cutting and marking in small dimensions. Thus, laser technology plays an important role in marking process for small electronic components. Moreover, government regulations about clear and permanent marking on food and pharmaceutical products mandates the use of laser technology for marking processes. This may fuel the adoption of laser technology in marking during the forecast period. Growing industries in Asia Pacific region is another important factor driving the laser processing market in this region. Countries such as China, Japan and South Korea are expected to show strong growth in laser processing market during the forecast period. This is majorly due to the rising automobile and original equipment manufacturing (OEM) industries in these countries.
The research study titled “Laser Processing (By Process - Material Processing, Marking and Engraving and Micro-processing) Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020” provides in-depth analysis of the market and related sub-segments. The report strategically focuses on market segments based on product types, processes and end-use industries and provides market insights and data about the size and growth of each segment. The report includes detailed analysis of the prevalent market trends and company profiles. To provide better understanding of the competition in market, the report also includes Porter’s five force model analysis, value chain analysis, and market attractiveness analysis. The study on the global laser processing market has been conducted with an objective of providing a thorough coverage of underlying technological and economic issues driving the laser processing market. The report provides market data and forecast for the laser product types, processes and end-use industry segments with an in-depth analysis of the global market, which has been further segmented on the basis of major geographical regions, from 2012 to 2020. The segmentation has been done to provide strategic insights for each category, enabling stakeholders across the value chain to gain considerable business intelligence.
The report aims to provide a comprehensive overview of market data and trends in North America, Europe, Asia-Pacific and Rest of the World (RoW) for emerging laser processing instruments. In addition, the report identifies factors driving and restraining growth and future business opportunities in the laser processing systems market. The competitive landscape section in the report provides market share analysis of major players in the global market in 2012.
Besides analyzing the global laser processing market segment-wise, the report includes profiles of major players along with their market positions, business strategies and various recent developments. Companies profiled in the report include Trumpf GmbH + Co. KG, Coherent Inc., Rofin-Sinar Technologies Inc., Newport Corporation, IPG Photonics Corporation, Universal Laser Inc., LaserStar Technologies Corporation, Eurolaser GmbH, Epilog Laser Inc., Han’s Laser Technology Co. Ltd., Bystronic Laser AG, Prima Industrie S.p.A. and Jenoptik Laser GmbH.
The global laser processing market is segmented as follows:
Laser Processing Market, by Product Type
- Gas Lasers
- Solid-state Lasers
- Fiber Lasers
- Other (Semiconductor, Excimer, Dye) Lasers
Laser Processing Market, by Process
- Material Processing
- Marking and Engraving
Laser Processing Market, by End-use Industry
- Automotive Industry
- Aerospace Industry
- Original Equipment Manufacturers (OEM) Industry
- Electronics and Microelectronics Industry
- Medical Devices and Treatment Industry
Laser Processing Market, by Geography
- North America
- Asia -Pacific
- Rest of the World (RoW)