Market Research Report
Laser Processing Market, By Product Type, By Process, By End-Use Industry and by Region - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027
|Laser Processing Market, By Product Type, By Process, By End-Use Industry and by Region - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027|
Published: December 18, 2020
Coherent Market Insights
Content info: 135 Pages
Delivery time: 2-3 business days
Laser Processing Market, By Product Type (Gas Lasers, Solid State Lasers, Fiber Lasers and Others), By Process ( Material Processing, Marking and Engraving and Micro-Processing), By End-Use Industry (Automotive, Aerospace, Original Equipment Manufacturer (OEM), Electronics and Micro-Electronics, Medical Devices and Treatment and Packaging) and by Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027.
Laser Processing is the laser beam radiation to the surface of work piece that is used to melt material and change the properties of the material by using high energy emission. Laser processing technologies is used for marking/engraving consumer goods, electronic components, and other parts used in industries. Lasers are used for various applications in commercial as well as industrial processes. Industrial processes typically include material processing, marking and engraving, and other micro-processing using laser technology. Laser technology offers various advantages as compared to conventional techniques such as plasma technology, flame, and water jet. Plasma and flame technologies are used for cutting purposes and not for engraving, marking, and drilling processes, while waterjet is used for the ablation and structuring process. Laser technology can perform all the aforementioned procedures efficiently without producing noise pollution. Hence, these factors are expected to drive growth of the global laser processing market during the forecast period.
Increasing demand from 3D printing in jewelry is expected to drive the market growth during the forecast period. Aforementioned factors are driving the adoption of these technologies such as CAD (computer-aided-design), laser technology, and induction technology among jewelry manufacturers. 3D printers with rapid prototyping (RP) technology help several designers to review design concepts and understand the requirements and complexity of any jewelry design. The adoption of such innovative manufacturing technologies in jewelry design is expected to boost the growth of the market. Moreover, increasing popularity of e-commerce is also expected to favor the growth of the laser processing market. The penetration of internet and adoption of smartphones increased access to online shopping. Most of the e-commerce companies such as Flipkart and Amazon are offering their products directly to the customers. Increased consumer trust in online retail, faster shipping services and increased internet penetration plays major role in the growth of laser processing market. Additionally, players operating in the e-commerce industry have introduced augmented reality (AR) in online platforms which allow consumers to try jewelry virtually using AR, and select products according to their preferences.
Efficient processing on both metal and non-metal materials is expected to boost the global laser processing market growth over the forecast period
Marking and engraving is also expected to drive market growth during forecast period. Marking used for making serial numbers, brand name, manufacturing dates, price, product codes, and other information on various industrial products. Common techniques used for marking are ink-jet printers, ink stamping, punching, and laser marking. Laser marking systems offer numerous advantages such as environment-friendly and high-quality marks over other conventional marking techniques. Moreover, laser marking requires no solvent for marking; hence it helps to reduce the finishing process in manufacturing and is easy to recycle. Furthermore, laser making provides high-speed and fine markings as compared to other technologies.
This report segments the global laser processing market on the basis of product type, process, end-use industry and region. On the basis of product type, the global laser processing market is segmented into gas lasers, solid state lasers, fiber lasers and others. On the basis of process, the global laser processing market is segmented into material processing, marking and engraving and micro-processing. On the basis of end-use industry, the global laser processing market is segmented into automotive, aerospace, original equipment manufacturer (OEM), electronics and micro-electronics, medical devices and treatment and packaging. On the basis of region, the global laser processing market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
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