Pune, Feb. 04, 2020 (GLOBE NEWSWIRE) -- The global Industrial Lasers Market size is expected to reach USD 14.52 billion by 2026. As per the report published by Fortune Business Insights™ titled, “Industrial Lasers Market Size, Share & Industry Analysis, By Product (CO2 Laser, Solid State Laser, Diode/Excimer Laser, Fiber Laser and Others), By Application (Macro Processing, Micro Processing, Marking & Engraving), and Regional Forecast, 2019-2026, “the market value was USD 5.66 billion in 2018. The forecast period is set from 2018 to 2026, and the market is anticipated to exhibit a CAGR of 12.4% attributed to the increase in laser processing in automation.
The report offers a 360-degree overview of the market primarily focusing on growth trajectories such as drivers, restraints, challenges, and opportunities. It also throws light on major industry developments, interesting insights into the market and the current industrial laser market trends. The report also presents a detailed list of segmentation and significant players operating in the market. For more information on the report or to purchase the report, one may visit the company website.
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Flexibility and Time-efficiency Properties of Laser Systems Stands as Major Growth Driver for Market
Laser systems provide various advantages such as improved productivity, time-efficiency, and flexibility. Thus, laser systems are widely on-demand from material processing especially across various applications such as aerospace, construction, industrial machinery, automotive, and others. This is a crucial industrial laser market growth factor. In addition, the transition of the automotive industry towards e-mobility will also help to increase the industrial laser market size in the forecast period. Moreover, there is a rise in demand for welding applications that further propel the growth of the automotive sector. This ultimately is expected to promote the overall industrial laser market growth during the forecast period. Furthermore, the advent of 3D manufacturing into automobiles will also help to attract high revenue in the foreseeable future.
Asia Pacific to Emerge Dominant on Account of Increasing Demand for Consumer Electronics in China
Geographically, Asia Pacific holds a majority of the global industrial laser source market share. This is attributable to the high penetration of laser into the Chinese market. In 2018, Asia Pacific Industrial Lasers Market size was USD 3.12 billion. The rise in adoption and manufacturing of fiber laser equipment in the manufacturing sector of China is expected to promote the regional market growth. Besides this, the surging demands for consumer electronics are also expected to help earn high industrial laser source market revenue in the forecast duration.
The Chinese government declared a large scale foreign investment restriction on the regional automotive industry in the year 2018. The reduction of foreign investment regulations on new energy and special purpose will be followed by the advent of passenger cars and commercial vehicles by the end of 2022. Thus, the aforementioned government initiatives are likely to attract high investments and thus boost the overall industrial laser market growth in the forecast period.
On the other side, the rise in demand for industrial laser from various applications such as welding, marking, metal cutting, and others is prognosticated to propel industrial laser market growth in Europe. Moreover, the surge in demand for industrial lasers from the semiconductor industry is having a positive influence on the growth of the market in the Rest of the world.
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Players Investing Heavy Amount for Research and Development of Innovative Industrial Lasers
Major players operating in the Industrial Lasers Market are emphasizing on strengthening their product portfolio and expanding their business to various geographies. Thus, players are adopting merger and acquisition strategies along with innovative product development and investment in research and development activities for attracting major revenue in the forthcoming years. To cite an example, the FOBA AG company developed the lightest and smallest fiber laser head in December 2019 for laser marking applications.
Some of the key industry developments of the industrial laser market are listed below:
December 2018 – The Photonics GmbH was acquired by TRUMPF from Philips. This acquisition strategy is adopted for strengthening the product portfolio of TRUMPF by adding high-power diode lasers.
November 2019 – nLIGHT ®, Inc. announced the advent of their welding fiber laser family with a range of 3kW to 15Kw. This new laser is integrated with a beam switch or fiber coupler and will be utilized to serve various cladding, robotics, and welding applications.
List of significant industrial laser manufacturers Cover in this Report Include:
- Lumentum Operations LLC
- Bystronic Laser AG
- Newport Corporation.
- TRUMPF
- Calmar Laser
- nLight, Inc.
- JENOPTIK AG
- IPG Photonics Corporation
- Coherent Inc.
- Amonics Ltd.
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Table of Content:
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends
- Key Insights
- Macro and Micro Economic Indicators
- Key Technological Developments
- Consolidated SWOT Analysis of Key Players
- Global Industrial Lasers Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Sizing Estimations and Forecasts – By Product (Value)
- CO2 Laser
- Solid State Laser
- Diode/Excimer Laser
- Fiber Laser
- Others
- Market Sizing Estimations and Forecasts – By Application (Value)
- Macro Processing
- Micro Processing
- Marking and Engraving
- Market Analysis, Insights and Forecast – By Region (Value)
- North America
- Europe
- Asia Pacific
- Rest of the World
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