Laser processing market to grow at CAGR of 7.8% from 2020 to 2025 The global laser processing market size is projected to grow from USD 4.0 billion in 2020 to USD 5.8 billion by 2025; it is projected to record a CAGR of 7.8%. The laser processing industry’s growth is driven mainly by the growing preference of end-user industries for laser-based material processing over traditional approaches, increasing demand for high-quality and genuine end-products, rising demand for miniaturization of microelectronic devices, and surging technological advancements in the medical sector. High deployment cost and lack of personnel with required technical expertise are expected to restrain the market’s growth.
Machine tools end-user industry to hold largest share of laser processing market by 2025 The machine tools end-user industry segment is projected to hold the largest share of the laser processing market during the forecast period.Lasers play an integral role in general machine construction, mainly in cutting and welding purposes.
Lasers help achieve clean-cut edges and reliable weld seams, especially in the field of sheet metal and tube processing.For instance, lasers are used in the production of tubes and other components that are cut or welded.
This has opened numerous application areas for lasers in the machine tools industry.
Solid lasers to hold largest share of laser processing market by 2025 The solid lasers segment is projected to hold the largest share of the laser processing market during the forecast period.Solid lasers prevent the wastage of materials in the active medium and produce both continuous and pulsed output with high efficiency.
These lasers have numerous applications, such as drilling holes in metals, endoscopy in medical, and targeting in military.
Hybrid configuration segment to hold largest share of laser processing market by 2025 The hybrid configuration segment is projected to hold the largest share of the laser processing market during the forecast period.A hybrid system is more efficient than the moving beam system as it provides a constant beam delivery path length and allows a comparatively simpler beam delivery system.
This is due to the presence of a movable table and a movable head in the hybrid system.
System revenue segment to hold larger share in laser processing market by 2025 The system revenue segment is projected to hold a larger share of the laser processing market during the forecast period. System revenue covers the revenue generated from the sales of several types of laser processing systems, such as systems for marking & engraving, welding & brazing, cutting & scribing, drilling, cladding & coating, annealing, material removal, and other multi-function laser processing systems.
Cutting application segment to hold largest share of laser processing market by 2025 The cutting application segment is projected to hold the largest share of the laser processing market during the forecast period.The need for high-powered lasers for cutting of metals and non-metals is increasing worldwide.
Lasers have also gained considerable traction in low-power applications, such as plastics cutting and paper cutting, in recent years. In the microelectronics industry, lasers have proven to be an economical method of cutting wafers to deliver high-quality products.
APAC to be largest laser processing market by 2025 Asia Pacific (APAC) is projected to hold the largest share of the global laser processing market during the forecast period.The major countries contributing to the laser processing industry in APAC include China, Japan, South Korea, and India.
APAC has been ahead in terms of the adoption of laser processing solutions as compared with other regions. High population density, rise in R&D investments in technologies, and growth of the manufacturing and electronics sectors are expected to drive the growth of the laser processing market in the region.
Breakdown of Profiles of Primary Participants: • By Company: Tier 1 - 25%, Tier 2 - 40%, and Tier 3 - 35% • By Designation: C-level Executives - 35%, Directors - 25%, and Others* - 40% • By Region: North America - 45%, Europe - 20%, APAC - 25%, and RoW** - 10% *Others include VPs, sales, marketing, and product managers. **RoW includes South America and Middle East & Africa.
Research Coverage This report offers detailed insights into the laser processing market, which is segmented based on laser type into solid lasers, gas lasers, liquid lasers, and others.Based on revenue, the market is segmented into laser revenue and system revenue.
Based on application, the market is segmented into cutting, welding, drilling, marking & engraving, microprocessing, advanced processing, and others.Based on configuration, the market is segmented into fixed beam, moving beam, and hybrid.
Based on end-user industry, the market is segmented into machine tools, microelectronics, automotive, medical & life sciences, aerospace & defense, architecture, and others. The study also forecasts the size of the market based on four regions—North America, Europe, Asia Pacific (APAC), and RoW.
Reasons to Buy the Report
The report would help market leaders/new entrants in the following ways: • It segments the laser processing market comprehensively and provides the closest approximations of the overall and segment-based market sizes across different laser types, revenue types, configurations, applications, end-user industries, and regions. • The report would help stakeholders understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities for the growth of the market. • This report would help stakeholders understand their competitors better and gain more insights to enhance their market position. The competitive landscape section includes the competitive analysis of top players, as well as strategies such as product launches & developments, mergers and acquisitions, partnerships, and contracts adopted by major market players.
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