Global Industrial Laser Market Size, Share, Growth, Industry Trends and Forecast 2020-2030

The global industrial laser market size was valued at USD 23035.6 million in 2020, and is expected to reach USD 45314.5 million by 2030, registering a CAGR of 7.0% from 2020 to 2030.Industrial lasers are widely used for various applications in the electronics industries. Processing of materials is the most important application of industrial laser. Material processing includes welding, cutting, drilling, etc. which requires high power lasers. High reliability and flexibility is the main advantage of fiber laser as compared to other lasers. Currently, the fiber lasers are gaining more popularity in the market due to its advanced features such as higher cutting speeds, superior performance, versatility, low sensitivity, and ease of integration. Furthermore, lasers are also used in optical disk drivers, barcode scanners, and laser printers.
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Market Dynamics and Factors:
In the recent years the industrial laser market has witnessed a steady growth. Continuous technological advancements leads to growing demand for industrial lasers. Increasing demand for sensing instruments, emission of monitoring systems in oil and gas industry, growing need of bio-instrumentation in medical industry are some of the supporting factors responsible for industrial laser market growth. Moreover, these lasers are broadly used in the medical industry, in cosmetology and dermatology for laser treatment. High capital investments, high power consumption in laser cutting, thermal effects due to high heat emission, low efficiency are some of the restraining factors affecting growth of market. Innovations in the laser technology like flying micro laser, holmium- doped lasers on silicon photonics platform mainly used to reduce the manufacturing cost are opportunities for the industrial laser market to grow in the forthcoming years. The major challenges faced by the industry are higher installation cost, various health and environmental issues. Hence, manufacturers will have more focus on production of less harmful products along with low installation charges and available at affordable prices.
Market Segmentation:
Global Industrial Laser Market – By Laser Type
CO2 (Carbon Dioxide)
Fiber
Solid State
Semiconductor
Others
Global Industrial Laser Market – By Application
Marking
Micro Materials
Macro Materials
Global Industrial Laser Market – By Power
High
Medium
Low
Global Industrial Laser Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
Asia Pacific was the major revenue contributor across the globe, in 2018 and is expected to continue its supremacy during the forecast period. The growth is majorly attributed to increased electronic device manufacturers, high concentration of LED/OLED, and photovoltaic cell manufacturers in APAC. China is the dominating country in this region. The growth is owing to the government policies introduced for laser industry to grow which includes enhanced production and innovations in R&D. North America will show moderate industrial laser market growth during forecasts period. US government introduced item unique identification (IUID) which is useful for product marking with manufacturing details and serial number. In Europe, market is growing with higher pace owing to the government sponsoring advanced technologies like rapid prototyping which improves product visualization.
Competitive Scenario:
Some of the key players in industrial laser market are TRUMPF, IPG Photonics, Han’s Laser Technology Co., Ltd., Mazak Optonics Corporation, Laserax, Trotec Laser, Inc., Epilog Corporation, Clark-MXR, Inc., Apollo Instruments, Inc., Suzhou Tianhong Laser Co., Ltd., Wuhan Golden Laser Co., Ltd., Huagong Tech, Wuhan Raycus Fiber Laser Technologies Co., Ltd., Daheng New Epoch Technology, Inc., Calmar Laser, Inc., and 3SP Technologies S.A.S.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Industrial Laser industry, although key threats, opportunities and disruptive technologies that could shape the Global Industrial Laser Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Industrial Laser Market most.
The data analysis present in the Global Industrial Laser Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Industrial Laser Market business.
The 2021 Annual Global Industrial Laser Market offers:
100+ charts exploring and analysing the Global Industrial Laser Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Industrial Laser Market type
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