Offering a high-speed way to process various materials, lasers are being used on a large scale in various industries. Innovative technologies are driving the growth of industrial lasers. Manufacturers are introducing technologically advanced industrial lasers for various applications. The global industrial laser market is highly dynamic, and growing at a fast phase. Owing to the increasing innovations taking place in fiber lasers, they are playing an important role in the growth of the global industrial laser market.
The consumer electronics industry is also expected to drive the growth in the industrial lasers market. Various type of lasers including solid-state, CO2, fiber lasers and disk lasers are being used on a large scale in various industries. The increasing demand for small power and high output power is contributing to the growth of fiber lasers.
One of the biggest advantages of fiber lasers is its high reliability and flexibility as compared to other types of lasers. Manufacturers are developing fiber lasers with high power and nanosensor pulses allowing better results. The fiber lasers with faster cutting speeds are also gaining popularity in the market.
Moreover, the stringent regulations on emission in the oil & gas industry, the rise in the bio-instrumentation demand from the medical industry, and the increasing demand for sensing instruments are driving the growth of the global industrial laser market.
Meanwhile, in the medical industry, rising demand for cosmetology and dermatology are widely expected to boost the demand for industrial lasers. Moreover, the use of LIDAR sensors consisting of a laser, sensor, and a specialized GPS receiver is being used in industries such as automotive, manufacturing and also aerospace, hence, this is also driving the demand for industrial lasers.
Challenges in the Global Industrial Lasers Market
Despite the growth in the use of an industrial laser for a variety of applications. There are various factors hampering the growth of the market such as high cost of installation, a limited number of suppliers, and various health and environment issues. However, manufacturers are focusing on developing laser technologies that are less harmful, and available at low cost and low installation charges. Manufacturers are investing heavily in the research and development of industrial lasers that consume low power, still working at a better speed.
Rise in Adoption of Fiber Laser Technology due to Fast Cutting Speed and Low Maintenance Cost
Various industries are adopting fiber laser technology owing to the fast cutting speed and low maintenance cost. Manufacturers are also automating many features in the fiber laser to simplify the whole process. Fiber laser technology is also leading to the quality thick-section cut, hence, in industries where cutting and bending the metal is an important process are replacing their standard Carbon Dioxide (CO2) laser processing with fiber laser technology. Manufacturers are also developing automated fiber lasers that can automatically change the beam mode on the basis of the material being processed. This eliminates the need for an operator to manually change or adjust anything in the machine during the process. The automotive industry are also switching to fiber lasers in order to weld airbag initiators, diesel injectors and to mark wheels.
Some of the top companies operating in the global industrial lasers market are TRUMPF, IPG Photonics, Coherent, Clark MXR, Hypertharm Inc., Calmar Laser Inc., Apollo Instruments, 3 SP Technologies S.A.S., Amonics Ltd., and Han's Laser Technology. Increasing number of companies are entering into a partnership to offer a better solution and expand geographically.
Global Industrial Lasers Market: Overview
The industrial lasers are being used in various application. However, there has been a rise in the use of industrial laser in material processing. As material processing involves drilling, cutting, welding, etc., these all processes require a high-power industrial laser. Owing to the increasing demand for high-power fiber laser sheet metal cutters and the rise in the volume of manufacturing of smartphone component with ultrafast-pulse is resulting in the growth of industrial laser market. Moreover, industrial lasers are also a vital component in the automated material processing system. Also, there has been a rise in the use of equipment that are controlled using sensors and devices, hence, industrial lasers are also being developed using new technologies.
Laser-based manufacturing in the automotive sector is also gaining traction and lasers are being used on a large scale for welding and cutting of car body. With the increase in the use of laser in various application, manufacturers of industrial lasers are producing innovative laser technology that can offer flexibility, reduce production time, and available at a lower cost. 3D laser technology is also emerging in the industrial lasers market and increasing number of manufacturers are focusing on developing 3D laser technology with advanced features.
Global Industrial Lasers Market: Scope of Study
The report offers qualitative and quantitative analysis of the overall industrial lasers market including the factors focusing on the market dynamics such as trends, drivers, factors hampering growth and opportunities. The report also provides Porter’s five force analysis and SWOT analysis along with the market attractiveness analysis. An In-depth study of the market provides useful insights on the factors influencing market growth both on the regional as well as global basis.
Market opportunity analysis has also been provided. Developments in the industry including the major events that took place in the past and upcoming events during the forecast period which are expected to affect the global industrial lasers market has also been provided. The report also offers details on the regulatory scenario for new technologies in the market. Mergers and acquisitions and partnerships have also been highlighted in the report. Methodologies adopted by manufacturers and strategies are also given in the report.
Global Industrial Lasers Market: Market Segmentation
Considering the wide scope of the global industrial lasers market, the report provides in-depth and segment-wise analysis. The global industrial lasers market is segmented on the basis of product type, end-use industries, application, power type, and region. Based on product type, the market is segmented into CO2 lasers, fiber lasers, solid state lasers, and others. On the basis of end-use industries, the segmentation includes medical, defense, oil & gas, manufacturing, construction, automotive, electronics, and other industries. By application, the market is segmented into marking, micrometrials, and macromaterials. Meanwhile, on the basis of power type, the market includes high power, medium power, and low power.
On the basis of region, the market is segmented into North America, Europe, Latin America, Asia Pacific Excluding Japan (APEJ), Japan, and the Middle East and Africa (MEA). The forecast for each region has been provided for the year 2017-2026, on the basis of product type, end use industry, application, and power type. The report also provides CAGR in form of percentage and revenue share for each segment.
Global Industrial Lasers Market: Competitive Landscape
The report also offers an in-depth analysis on the key market players in the global industrial lasers market such as IPG Photonics, TRUMPF, Coherent, Hypertharm Inc., Clark MXR, Calmar Laser Inc., Apollo Instruments, Amonics Ltd., Han's Laser Technology, and 3 SP Technologies S.A.S.