New York, Oct. 03, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Industrial Laser System Global Market Report 2022" - https://www.reportlinker.com/p06323465/?utm_source=GNW
The global industrial laser system market is expected to grow from $18.49 billion in 2021 to $20.71 billion in 2022 at a compound annual growth rate (CAGR) of 12.0%. The industrial laser system market is expected to grow to $29.24 billion in 2026 at a CAGR of 9%.
The industrial laser system market consists of sales of industrial laser systems by entities (organizations, sole traders, and partnerships) that are used to cut metals and fabrics, mark tracking codes for industrial traceability, weld metals, clean metal surfaces, change the surface roughness, and measure part dimensions. An industrial laser system refers to a device that stimulates atoms or molecules to emit light at particular wavelengths and amplifies that light, producing a very narrow beam of radiation.
The main types of lasers in industrial laser systems are fiber, solid-state, CO2, and other types.Fiber lasers use an optical fiber cable with a doped fiber made of silica glass as a gain medium to guide light.
The different types include macro processing, micro processing, and use various power ranges such as less than 1 kW and more than 1.1 kW. The applications included are cutting, welding, marking, drilling, and others, and are employed in several sectors such as semiconductors and electronics, automotive, aerospace and defense, medical, and other end-use industries.
North America was the largest region in the industrial laser system market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the industrial laser system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The industrial laser system market research report is one of a series of new reports that provides industrial laser system market statistics, including global laser system industry market size, regional shares, competitors with an industrial laser system market share, detailed industrial laser system market segments, market trends and opportunities, and any further data you may need to thrive in the industrial laser system industry. This industrial laser system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
An increase in the trend of automation in industries is expected to contribute to the growth of the industrial laser system market going forward.Automation refers to the use of various technology applications to minimize human input in processes.
Automation has increased the necessity for high-precision industrial laser systems for various applications.Automated laser systems combine vision and motion technologies to execute accurate and high-quality work.
The rising trend of automation in industries for improved productivity, high efficiency, and accuracy is resulting in the adoption of industrial laser systems.For instance, according to the Association for Advancing Automation, in Q2 2021, robot orders increased by 67% from the same period in 2020, showing increased demand for automation.
Therefore, an increase in the trend of automation in industries will drive the growth of the industrial laser system market.
Technological advancements have emerged as a key trend gaining popularity in the industrial laser system market.Major companies operating in the industrial laser systems sector are focused on developing new technological solutions to strengthen their position.
For instance, in July 2021, Furukawa Electric, a Japan-based electric and electronics equipment company, launched an industrial laser based on fiber technology. The laser has high beam quality and possesses high reliability, time stability, and high effect.
In June 2022, II-VI Incorporated, a US-based semiconductor manufacturing company, acquired Coherent Inc. for an undisclosed amount. Through this acquisition, II-VI Incorporated aims to become a global leader in compound semiconductors, photonic solutions, and laser systems. Coherent Inc. is a US-based laser equipment manufacturer.
The countries covered in the industrial laser system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06323465/?utm_source=GNW
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