Market Research Report
Laser Processing Market with COVID-19 Impact Analysis, By Type, By Process, By Application, and By Region - Size, Share, & Forecast from 2021-2027
|Laser Processing Market with COVID-19 Impact Analysis, By Type, By Process, By Application, and By Region - Size, Share, & Forecast from 2021-2027|
Published: June 1, 2021
AnalystView Market Insights
Content info: 248 Pages
Delivery time: 2-3 business days
The global Laser Processing Market was valued at USD 2.5 billion by 2020, growing with 28% CAGR during the forecast period, 2021-2027.
Laser processing is used for various processes such as punching, scribing, welding, heat treatment among others. It is used across various end-use industries such as automotive, medical, electronics, and others.
Based on application, the automotive industry is expected to hold a significant share in the overall laser printing market as laser printing is used across various stages of automotive manufacturing to ensure that the vehicle is reliable and safe for consumers. Automotive manufacturing utilizes a diverse variety of materials such as textiles, plastics, rubber, and glass, all of which can be successfully processed using lasers. Lasers are widely used in the processing of plastic parts of automobiles such as pillars, dashboard panels, spoilers, bumpers, and trims. The medical industry is expected to grow at the fastest CAGR during the forecast period as laser cutting is most often utilized in the medical industry to manufacture medical devices. The medical industry accounts for around US$ 338 billion, and will only continue to rise as new and innovative ways are found to create life-changing technologies. Hence, the growing medical industry across the globe will further increase the demand for the market over the forecast period.
Based on type the laser processing market is classified into gas lasers, solid lasers, fiber lasers, and others. The gas lasers segment dominated the market in 2019 and is expected to gain significant traction over the year 2027. Oxygen is the most widely used gas for the laser cutting of carbon steels. While doing the laser processing with oxygen, the material is burned and vaporized after being heated up to ignition temperature by the laser beam. Moreover, a new product launched by major players also supports the market growth. For instance, in July 2020, Nippon Gases launched a new gas-based laser product. The LaserSan is designed for plasma cutting and Laser cutting. On the other hand, the fiber lasers segment is expected to grow at the fastest CAGR during the forecast period. Fiber lasers offer wide applications such as they can be used for a multitude of fiber laser applications.
The key players in the market are focusing on strategies such as mergers and acquisitions along with new product launches. For instance, in December 2020, Coherent and II-VI Incorporated collaborated. With the help of this collaboration Coherent aims to provide customers with the convenience of a single point of contact and deployment of welding sub-systems combining the Coherent ARM fiber lasers and the II-VI RLSK and HIGHmotion 2D remote laser processing heads. In August 2019, Biomerics, an Interventional device contract manufacturer merged with Northeast Laser & Electropolish (NLE), a Monroe. With the help of this merger, the company aims to create a metals division of Biomerics, called Biomerics NLE. And provide full-service metal processing to the interventional and surgical medical device markets.
Key features of the study:
This proposed research study on Laser Processing Market provides market size (US$ million), compound annual growth rate (CAGR %), and forecast estimation (2020-2027), considering 2019 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains an attractive investment proposition matrix for Thermal Printing Market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Thermal Printing Market
Impact of COVID-19 on Laser Processing Market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Laser Processing Market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Thermal Printing Market, we have also included a competitive landscape and key innovator analysis for the Thermal Printing Market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate, and end-user's attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Thermal Printing Market.
In addition, the report also unveils the important acquisitions & mergers, collaborations & joint ventures, new product launch, research & development, regional expansion of major participants involved in the Laser Processing Market on a global as well as regional level.
The global Laser Processing Market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL LASER PROCESSING MARKET KEY PLAYERS
Automation Tooling Systems Inc.
IPG Photonics Corporation
Laser Processing Technology, Inc.
PaR Systems, LLC
IPG Photonics Corporation
Rofin-Sinar Technologies Inc
Lumentum Holdings Inc.
GLOBAL LASER PROCESSING MARKET, BY TYPE
GLOBAL LASER PROCESSING MARKET, BY PROCESS
Marking and Engraving
GLOBAL LASER PROCESSING MARKET, BY APPLICATION
GLOBAL LASER PROCESSING MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
The Middle East and Africa
United Arab Emirates
Rest of MEA
List of Tables
List of Figures