31 January 2020 - In the year 2015 the global Laser
Processing Market was sized at
$10.36 billion and is estimated to grow at a significant rate due to the
increase in material processing applications. Precise and accurate operations
of industrial processes are achieved by implementing the laser technology in
manufacturing.
The
regulations and the norms set by the governments are expected to positively
affect the growth of laser processing market in next few years. Due to their
increased usage in various applications ranging from marking, cutting to
welding, drilling, engraving the technology all set to witness tremendous growth
in during the forecast period.
The
strict directives set by the governments on the usage of laser technology in
marking and its increased use in the growing field of medical surgeries and
devices is expected to drive the laser processing market in the near future.
Product Insights
The
products related to laser technology consist of fiber, gas and solid-state
lasers. Gas segment consists of nitrogen, copper, carbon monoxide, carbon
dioxide, helium-neon and argon-ion lasers.
Solid
state lasers are further divided into YAG or Nd lasers, Q-switched Nd lasers,
small-diode pumped Nd, YVO4 lasers and large sized lasers in end or side pumped
configuration. Manufacturers are benefitted by the use of fiber lasers with
their use in the manufacturing technology which acts as a driver fir the
market.
Varied
field applications in the fields such as aerospace, machine tools, automotive,
medical and packaging is estimated to fuel the global laser processing market
over the forecast period.
Process Insights
Laser
processing segment consists of marking and engraving, material processing and
micro-processing. This section comprises of all the major factors of laser and
material processing involving implementation of laser beam welding, hybrid
processes, micro drilling, surface modifications, ablation of bulk material and
coatings, cutting & machining direct manufacturing and so on.
Crude
oil extraction that involves mainly mining and drilling activities is largely
benefitted by laser technology. Aerotech offers development in main areas such
as mechanics, laser controls and controls. They also aid the system
integrators, OEMs, end users using processes such as cutting systems, marking,
welding, etching and marking systems.
Furthermore,
the engagement of laser technology with water-jet cutting technology in smooth
surface with narrow cuts, increases the overall efficiency subsequently
fuelling the market growth over next few years.
Application Insights
Application
segment mainly includes OEMs, Automotive, electronics and microelectronics,
aerospace, medical and packaging. Rise in the rate of adoption of laser in
various industrial applications such as cutting, welding, drilling engraving
and various material processing activities is expected to drive the market to
new growth heights in the next few years particularly due to extensive use of
this technology as machine tools.
The
ever increasing demand in the fields of microelectronics and medical sector is
expected to drive laser processing growth. Key role is played by the process of
welding the medical applications primarily such as implantable devices,
pacemakers, surgical tools which involve non-porous and ultra-fine sterile
surfaces which are implemented in cardio logical processes.
Emerging
applications in the fields of oil and gas and automotive sector will fuel the
growth of laser technology along with the increase in the usage of machine
tools over the next few years. Moreover, high speeds offered by laser cutting,
improves the quality of cutting edges and provides the material in automotive
segment with low-heat operation.
Regional Insights
Largest
market share was accounted by the Asia-Pacific region in the year 2015
consuming over 30% of overall revenue. It is expected to witness substantial
growth due to the rising number of OEMs in this region. Moreover, key consumer
of industrial laser and subsystems is expected to be China which is raising its
applications in material processing and micro processing.
Regulations
set by governments that lay permanent and clear paths for the use of laser
processing are also expected to drive the growth of laser processing technology
across several regions. Additionally, the growing automotive sector in the
European region with rising adoption of laser processing are expected to boost
the demand of this technology over the forecast period.
Competitive Insights
Few
major global players present intense competition which essentially is the
characteristic of the market. These key players hold a majority of the market
share. New product developments and research procedures are undertaken by firms
so that newer business opportunities are available in front of them.
Universal
Laser Systems is the firm that provides products to the military branches and
security agencies for custom parts fabrication, asset management and other
security and production uses. Naval bases, Air bases and military bases all
over the world use this technology. Major players in the market are LaserStar
Technologies, Amanda Co. Ltd., IPG Photonics Corporation and Newport
Corporation.
Market Segment:
Laser Processing Product Outlook
(Revenue, USD Million; 2014 - 2025)
• Gas Lasers
• Solid-state Lasers
• Fiber Lasers
• Others
Laser Processing Process Outlook
(Revenue, USD Million; 2014 - 2025)
• Material Processing
• Marking and Engraving
• Micro-Processing
Laser Processing Application Outlook
(Revenue, USD Million; 2014 - 2025)
• Automotive
• Aerospace
• Machine Tools
• Electronics and Microelectronics
• Medical
•
Packaging
Laser Processing Regional Outlook
(Revenue, USD Million; 2014 - 2025)
• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• France
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Mexico
• The Middle East & Africa
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