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The global laser processing market was valued at USD 19.97 billion in 2022 and growing at a CAGR of 8.93% from 2023 to 2032. The market is expected to reach USD 46.99 billion by 2032. Europe is expected to increase the fastest during the forecast period.
Laser processing is a technology that performs operations including surface modification, laser marking, laser welding, laser drilling, laser cutting, and micro-processing using a laser beam produced by the thermal effect. The term "laser" is an acronym for Light Amplification by Stimulated Emission of Radiation. Hybrid, moving, and stationary beams are the three most frequent forms of projected beams utilized in laser processing. The most common laser processing techniques include material processing, etching, engraving, and micro-processing. This engraving and marking technique produces permanent, fast, and accurate results. They are used in many industrial applications because of their excellent beam quality, high efficiency, and high dependability. The semiconductor, medical, telecommunications, and electronics sectors primarily utilize these. These are also used in various industries, including the military, aircraft, machine tools, automotive, and architecture. In both industrial and commercial procedures, lasers are used for multiple tasks. Laser technology is frequently used in industrial processes such as engraving and branding, material processing, and other micro-processing. The term "material processing" refers to a broad range of operations on non-metal and metal materials, including drilling, engraving, cutting, and marking. There are many advantages of laser technology over conventional methods like plasma, water jet, and flame. Instead of engraving, marking, or drilling, flame and plasma technologies are employed for cutting, while waterjet is utilized for structuring and ablation. However, the waterjet is noisy when operating, which makes it uncomfortable for material processing. Contrarily, laser technology can complete all the above functions without generating noise pollution. The market for laser processing is expected to be fuelled by the potential advantages of precision and accuracy that laser processing has over traditional processing techniques. The use of laser cutting technology eliminates the need for retooling while processing the products. As a result, there is a greater demand for these kinds of products due to the quality of the finished goods. The industrial sectors are encouraged to employ laser processing technology in the manufacturing department due to such characteristics of laser technology. On the other hand, laser processing can be applied to various materials, including metals, adhesives, composites, plastics, polymers, and ceramics.
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The Spectra-Physics Talon 532-70 lasers were introduced by MKS Instruments, Inc. in July 2022. It is a high-power green member of the Talon family of nanosecond pulsed diode-pumped solid-state (DPSS) lasers.
MADA introduced their ENSIS-6225AJ fiber laser cutting instrument to the European market in March 2022.
In April 2022, TRUMPF introduced its newest TruMicro ultrashort pulse laser product lines, the TruMicro 6000 and TruMicro 2000. The product line offers new technology platforms, which increase adaptability and precise power. The product line for microprocessing will be expanded by the two new generations of TruMicro lasers, which will also provide solutions to meet vital market needs.
Mitsubishi Electric Corporation announced the introduction of two new wire-laser metal 3D printers in March 2022, a major Japanese manufacturer of electronics and electrical equipment. Two variants of the AZ600 are offered: the AZ600-F20 and the AZ600-F40.
IPG Photonics launched LightWELD XR in March 2022 as the third item in its portable laser welding and cleaning device series. The laser offers a wide range of cleaning capabilities and portable laser welding to manage more materials and width than prior LightWELD products.
Innovative technologies- The improvement in audio and video quality contained on HD DVDs and HD3D displays over standard discs is leading to an increase in the use of laser technology in disc storage, which is boosting the industry's overall growth. The need for laser processing has increased in recent years due to the use of cutting-edge technologies, such as LiDAT, vertical-cavity and surface-emitting lasers, AR/VR techniques, and blue light in processing metals. On the other hand, the introduction of Ultra-short laser technology, which processes materials in the industrial sectors with the highest quality, is one of the factors driving the overall growth of the laser processing market.
High costs- It is relatively difficult and expensive to set up laser technology for the required application. The market for laser processing isn't expanding as quickly as it could because different processing applications require a lot of resources. The maintenance costs for traditional plasma cutting machines are around USD 5000 annually, whereas the maintenance costs for laser processing and cutting machines are around USD 10,000 annually. Even though the prices of the products processed using laser technology are decreasing, the technology is still relatively expensive.
Increasing usage in the consumer electronics industry- Consumer electronics demand is rising across several nations, creating profitable market expansions. Since the consumer electronics industry makes extensive use of the laser processing technique, it is projected that consumer electronics will influence market growth. High-quality final products are manufactured by the medical and marking industries that use laser technologies. The growing need for dental treatment, laser microchemistry, and optical disc data storage further boosts the laser processing industry's overall growth.
Lack of skilled workforce- When technology entered the laser processing market, trained operators were needed. The main obstacle to the market's overall expansion is the scarcity of qualified individuals. Higher maintenance costs, higher operational costs, ownership costs, and various macroeconomic conditions are hampering the development of the laser processing market.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific emerged as the highest in the global laser processing market, with a share of 39.05% and valued at USD 7.79 billion in 2022. Due to the growing number of OEMs in this area, it is anticipated to have significant growth. It is also projected that China will overtake other countries as the primary user of industrial lasers and micro- and material processing systems. Various reasons, including an increase in OEMs and the growth of the automobile sector, are predicted to contribute to the high development of nations like India, South Korea, Japan, and China. Another factor anticipated to drive market growth is the region's growing usage of laser systems in various application industries. Government restrictions on permanent and visible markings on consumer goods are expected to lead to higher utilization of laser processing technology across numerous regions.
Asia Pacific Region Laser Processing Market Share in 2022 - 39.05%
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Product Segment Analysis
The product segment is divided into solid-state, gas, fiber, and others. The gas segment had the highest market share of 28.15% and was valued at USD 5.62 billion in 2022 in the laser processing market. The gas segment comprises lasers using helium-neon, argon-ion, carbon dioxide, copper, nitrogen, and other gases.
The process segment is divided into marking and engraving, material processing, and micro-processing. The material processing segment had the highest market share of 37.24% and was valued at USD 7.43 billion in 2022 in the laser processing market. This covers all the critical elements of laser and material processing, including the creation and application of laser beam welding, surface modifications, direct manufacturing, hybrid processes, cutting, and machining, forming micro deposition, ablation of bulk material and coatings, and micro-drilling.
The application segment is divided into aerospace, electronics and microelectronics, packaging, automotive, medical, and machine tools. The machine tools segment had the highest market share of 19.85% and was valued at USD 3.96 billion in 2022 in the laser processing market. The industrial sector's growing use of lasers for a wide range of material processing tasks, including cutting, welding, drilling, and engraving, is anticipated to fuel the growth of the machine tools segment. The growing demand for microelectronics is projected to fuel global laser processing market expansion.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2022 | USD 19.97 Billion |
| Market size value in 2032 | USD 46.99 Billion |
| CAGR (2023 to 2032) | 8.93% |
| Historical data | 2019-2021 |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Regional Segments | The regions analyzed for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa. |
| Segments | Product, Process, Application |
As per The Brainy Insights, the size of the laser processing market was valued at USD 19.97 billion in 2022 & USD 46.99 billion by 2032.
Global laser processing market is growing at a CAGR of 8.93% during the forecast period 2023-2032.
Asia Pacific region emerged as the largest market for the laser processing.
The market's growth will be influenced by innovative technologies.
Increasing usage in consumer electronics industry is one of the opportunities for the growth of the market.
Lack of skilled workforce is the challenge for the laser processing market.
1. Introduction
1.1. Objective of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis By Product
4.3.2. Market Attractiveness Analysis By Process
4.3.3. Market Attractiveness Analysis By Application
4.3.4. Market Attractiveness Analysis By Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Innovative technologies
5.3. Restraints
5.3.1. High costs
5.4. Opportunities
5.4.1. Increasing usage in consumer electronics industry
5.5. Challenges
5.5.1. Lack of skilled workforce
6. Global Laser Processing Market Analysis and Forecast, By Product
6.1. Segment Overview
6.2. Solid-state
6.3. Gas
6.4. Fiber
6.5. Others
7. Global Laser Processing Market Analysis and Forecast, By Process
7.1. Segment Overview
7.2. Marking and Engraving
7.3. Material Processing
7.4. Micro-Processing
8. Global Laser Processing Market Analysis and Forecast, By Application
8.1. Segment Overview
8.2. Aerospace
8.3. Electronics and Microelectronics
8.4. Packaging
8.5. Automotive
8.6. Medical
8.7. Machine Tools
9. Global Laser Processing Market Analysis and Forecast, By Regional Analysis
9.1. Segment Overview
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.2.3. Mexico
9.3. Europe
9.3.1. Germany
9.3.2. France
9.3.3. U.K.
9.3.4. Italy
9.3.5. Spain
9.4. Asia-Pacific
9.4.1. Japan
9.4.2. China
9.4.3. India
9.5. South America
9.5.1. Brazil
9.6. Middle East and Africa
9.6.1. UAE
9.6.2. South Africa
10. Global Laser Processing Market-Competitive Landscape
10.1. Overview
10.2. Market Share of Key Players in the Laser Processing Market
10.2.1. Global Company Market Share
10.2.2. North America Company Market Share
10.2.3. Europe Company Market Share
10.2.4. APAC Company Market Share
10.3. Competitive Situations and Trends
10.3.1. Product Launches and Developments
10.3.2. Partnerships, Collaborations, and Agreements
10.3.3. Mergers & Acquisitions
10.3.4. Expansions
11. Company Profiles
11.1. Alpha Nov laser
11.1.1. Business Overview
11.1.2. Company Snapshot
11.1.3. Company Market Share Analysis
11.1.4. Company Product Portfolio
11.1.5. Recent Developments
11.1.6. SWOT Analysis
11.2. Bystronic Laser AG
11.2.1. Business Overview
11.2.2. Company Snapshot
11.2.3. Company Market Share Analysis
11.2.4. Company Product Portfolio
11.2.5. Recent Developments
11.2.6. SWOT Analysis
11.3. Eurolaser GmbH
11.3.1. Business Overview
11.3.2. Company Snapshot
11.3.3. Company Market Share Analysis
11.3.4. Company Product Portfolio
11.3.5. Recent Developments
11.3.6. SWOT Analysis
11.4. Han's Laser Technology Industry Group Co., Ltd.
11.4.1. Business Overview
11.4.2. Company Snapshot
11.4.3. Company Market Share Analysis
11.4.4. Company Product Portfolio
11.4.5. Recent Developments
11.4.6. SWOT Analysis
11.5. Newport Corporation (MKS Instruments, Inc.)
11.5.1. Business Overview
11.5.2. Company Snapshot
11.5.3. Company Market Share Analysis
11.5.4. Company Product Portfolio
11.5.5. Recent Developments
11.5.6. SWOT Analysis
11.6. Coherent Inc.
11.6.1. Business Overview
11.6.2. Company Snapshot
11.6.3. Company Market Share Analysis
11.6.4. Company Product Portfolio
11.6.5. Recent Developments
11.6.6. SWOT Analysis
11.7. Universal Laser Systems, Inc.
11.7.1. Business Overview
11.7.2. Company Snapshot
11.7.3. Company Market Share Analysis
11.7.4. Company Product Portfolio
11.7.5. Recent Developments
11.7.6. SWOT Analysis
11.8. Altec GmbH
11.8.1. Business Overview
11.8.2. Company Snapshot
11.8.3. Company Market Share Analysis
11.8.4. Company Product Portfolio
11.8.5. Recent Developments
11.8.6. SWOT Analysis
11.9. Epilog Laser, Inc.
11.9.1. Business Overview
11.9.2. Company Snapshot
11.9.3. Company Market Share Analysis
11.9.4. Company Product Portfolio
11.9.5. Recent Developments
11.9.6. SWOT Analysis
11.10. LaserStar Technologies Corporation
11.10.1. Business Overview
11.10.2. Company Snapshot
11.10.3. Company Market Share Analysis
11.10.4. Company Product Portfolio
11.10.5. Recent Developments
11.10.6. SWOT Analysis
11.11. Trumpf GmbH + Co. KG
11.11.1. Business Overview
11.11.2. Company Snapshot
11.11.3. Company Market Share Analysis
11.11.4. Company Product Portfolio
11.11.5. Recent Developments
11.11.6. SWOT Analysis
11.12. Amada Co., Ltd.
11.12.1. Business Overview
11.12.2. Company Snapshot
11.12.3. Company Market Share Analysis
11.12.4. Company Product Portfolio
11.12.5. Recent Developments
11.12.6. SWOT Analysis
11.13. IPG Photonics Corporation
11.13.1. Business Overview
11.13.2. Company Snapshot
11.13.3. Company Market Share Analysis
11.13.4. Company Product Portfolio
11.13.5. Recent Developments
11.13.6. SWOT Analysis
11.14. Xenetech Global Inc.
11.14.1. Business Overview
11.14.2. Company Snapshot
11.14.3. Company Market Share Analysis
11.14.4. Company Product Portfolio
11.14.5. Recent Developments
11.14.6. SWOT Analysis
List of Table
1. Global Laser Processing Market, By Product, 2019-2032 (USD Billion)
2. Global Solid-state, Laser Processing Market, By Region, 2019-2032 (USD Billion)
3. Global Gas, Laser Processing Market, By Region, 2019-2032 (USD Billion)
4. Global Fiber, Laser Processing Market, By Region, 2019-2032 (USD Billion)
5. Global Others, Laser Processing Market, By Region, 2019-2032 (USD Billion)
6. Global Laser Processing Market, By Process, 2019-2032 (USD Billion)
7. Global Marking and Engraving, Laser Processing Market, By Region, 2019-2032 (USD Billion)
8. Global Material Processing, Laser Processing Market, By Region, 2019-2032 (USD Billion)
9. Global Micro-Processing, Laser Processing Market, By Region, 2019-2032 (USD Billion)
10. Global Laser Processing Market, By Application, 2019-2032 (USD Billion)
11. Global Aerospace, Laser Processing Market, By Region, 2019-2032 (USD Billion)
12. Global Electronics and Microelectronicss, Laser Processing Market, By Region, 2019-2032 (USD Billion)
13. Global Packaging, Laser Processing Market, By Region, 2019-2032 (USD Billion)
14. Global Automotive, Laser Processing Market, By Region, 2019-2032 (USD Billion)
15. Global Medical, Laser Processing Market, By Region, 2019-2032 (USD Billion)
16. Global Machine Tools, Laser Processing Market, By Region, 2019-2032 (USD Billion)
17. Global Laser Processing Market, By Region, 2019-2032 (USD Billion)
18. North America Laser Processing Market, By Product, 2019-2032 (USD Billion)
19. North America Laser Processing Market, By Process, 2019-2032 (USD Billion)
20. North America Laser Processing Market, By Application, 2019-2032 (USD Billion)
21. U.S. Laser Processing Market, By Product, 2019-2032 (USD Billion)
22. U.S. Laser Processing Market, By Process, 2019-2032 (USD Billion)
23. U.S. Laser Processing Market, By Application, 2019-2032 (USD Billion)
24. Canada Laser Processing Market, By Product, 2019-2032 (USD Billion)
25. Canada Laser Processing Market, By Process, 2019-2032 (USD Billion)
26. Canada Laser Processing Market, By Application, 2019-2032 (USD Billion)
27. Mexico Laser Processing Market, By Product, 2019-2032 (USD Billion)
28. Mexico Laser Processing Market, By Process, 2019-2032 (USD Billion)
29. Mexico Laser Processing Market, By Application, 2019-2032 (USD Billion)
30. Europe Laser Processing Market, By Product, 2019-2032 (USD Billion)
31. Europe Laser Processing Market, By Process, 2019-2032 (USD Billion)
32. Europe Laser Processing Market, By Application, 2019-2032 (USD Billion)
33. Germany Laser Processing Market, By Product, 2019-2032 (USD Billion)
34. Germany Laser Processing Market, By Process, 2019-2032 (USD Billion)
35. Germany Laser Processing Market, By Application, 2019-2032 (USD Billion)
36. France Laser Processing Market, By Product, 2019-2032 (USD Billion)
37. France Laser Processing Market, By Process, 2019-2032 (USD Billion)
38. France Laser Processing Market, By Application, 2019-2032 (USD Billion)
39. U.K. Laser Processing Market, By Product, 2019-2032 (USD Billion)
40. U.K. Laser Processing Market, By Process, 2019-2032 (USD Billion)
41. U.K. Laser Processing Market, By Application, 2019-2032 (USD Billion)
42. Italy Laser Processing Market, By Product, 2019-2032 (USD Billion)
43. Italy Laser Processing Market, By Process, 2019-2032 (USD Billion)
44. Italy Laser Processing Market, By Application, 2019-2032 (USD Billion)
45. Spain Laser Processing Market, By Product, 2019-2032 (USD Billion)
46. Spain Laser Processing Market, By Process, 2019-2032 (USD Billion)
47. Spain Laser Processing Market, By Application, 2019-2032 (USD Billion)
48. Asia Pacific Laser Processing Market, By Product, 2019-2032 (USD Billion)
49. Asia Pacific Laser Processing Market, By Process, 2019-2032 (USD Billion)
50. Asia Pacific Laser Processing Market, By Application, 2019-2032 (USD Billion)
51. Japan Laser Processing Market, By Product, 2019-2032 (USD Billion)
52. Japan Laser Processing Market, By Process, 2019-2032 (USD Billion)
53. Japan Laser Processing Market, By Application 2019-2032 (USD Billion)
54. China Laser Processing Market, By Product, 2019-2032 (USD Billion)
55. China Laser Processing Market, By Process, 2019-2032 (USD Billion)
56. China Laser Processing Market, By Application, 2019-2032 (USD Billion)
57. India Laser Processing Market, By Product, 2019-2032 (USD Billion)
58. India Laser Processing Market, By Process, 2019-2032 (USD Billion)
59. India Laser Processing Market, By Application, 2019-2032 (USD Billion)
60. South America Laser Processing Market, By Product, 2019-2032 (USD Billion)
61. South America Laser Processing Market, By Process, 2019-2032 (USD Billion)
62. South America Laser Processing Market, By Application, 2019-2032 (USD Billion)
63. Brazil Laser Processing Market, By Product, 2019-2032 (USD Billion)
64. Brazil Laser Processing Market, By Process, 2019-2032 (USD Billion)
65. Brazil Laser Processing Market, By Application, 2019-2032 (USD Billion)
66. Middle East and Africa Laser Processing Market, By Product, 2019-2032 (USD Billion)
67. Middle East and Africa Laser Processing Market, By Process, 2019-2032 (USD Billion)
68. Middle East and Africa Laser Processing Market, By Application, 2019-2032 (USD Billion)
69. UAE Laser Processing Market, By Product, 2019-2032 (USD Billion)
70. UAE Laser Processing Market, By Process, 2019-2032 (USD Billion)
71. UAE Laser Processing Market, By Application, 2019-2032 (USD Billion)
72. South Africa Laser Processing Market, By Product, 2019-2032 (USD Billion)
73. South Africa Laser Processing Market, By Process, 2019-2032 (USD Billion)
74. South Africa Laser Processing Market, By Application, 2019-2032 (USD Billion)
List of Figures
1. Global Laser Processing Market Segmentation
2. Laser Processing Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Laser Processing Market Attractiveness Analysis By Product
9. Global Laser Processing Market Attractiveness Analysis By Process
10. Global Laser Processing Market Attractiveness Analysis By Application
11. Global Laser Processing Market Attractiveness Analysis By Region
12. Global Laser Processing Market: Dynamics
13. Global Laser Processing Market Share by Product (2023 & 2032)
14. Global Laser Processing Market Share by Process (2023 & 2032)
15. Global Laser Processing Market Share by Application (2023 & 2032)
16. Global Laser Processing Market Share by Regions (2023 & 2032)
17. Global Laser Processing Market Share by Company (2023)
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global laser processing market based on below mentioned segments:
Global Laser Processing Market by Product:
Global Laser Processing Market by Process:
Global Laser Processing Market by Application:
Global Laser Processing Market by Region:
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