Laser Processing Market Size and Forecast 2021-2031, Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type, Configuration, Industry, and Geography

List of Tables

The Laser Processing Market size was valued at US$ US$ 6.46 billion in 2024 and is anticipated to reach US$ 11.26 billion by 2031; it is estimated to record a CAGR of 8.4% from 2025 to 2031.

The Laser Processing Market is segmented into five major regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific dominated the market in 2024, followed by North America and Europe, respectively. The proliferating manufacturing industry encourages market players to develop high-power industrial-grade lasers. For instance, in August 2024, BWT Beijing Ltd. launched the world's first 200kW ultrahigh-power industrial-grade fiber laser in Tianjin. This innovation is claimed to assist industries in making extremely fine cuts or welds. Moreover, favorable government initiatives to create awareness related to the benefits of using lasers in industrial processes are fueling the market growth. For instance, during July 10-12, 2024, the government of China organized the "2024 China (Suzhou) Photonics Industry Development Conference and the 15th National Laser Processing Industry Forum" at the Shishan International Conference Center. This conference attracted numerous academicians, experts, and industry professionals to create awareness of lasers. Companies such as DoGain Optoelectronic Technology Co., Ltd. exhibited a variety of products, such as high-power chips, single-mode fiber coupling modules, pump modules, vertical-cavity surface-emitting lasers (VCSELs), and array lasers.

Japan is a major adopter of EVs worldwide. The government of Japan and the corporate sector are collaborating to promote the adoption of EVs by promoting sustainable mobility. Their collaboration necessitates the use of laser processing among EV manufacturers. Laser processing provides micrometer-level precision, which is necessary for cutting and welding intricate EV components, including battery foils, connections, and motor laminations. Nissan Motor Corporation, Toyota Motor Corporation, Mazda Motor Corporation, and Subaru Corporation are planning to invest US$ 6.7 billion (JPY 1 trillion) collectively in EV production capabilities by 2028. Similarly, the Ministry of Economy, Trade, and Industry in Japan has invested ~US$ 2.4 million (JPY 350 billion) in the adoption and development of EVs. Such investments toward bolstering EV production and favorable government initiatives to encourage the adoption of EVs among consumers are expected to create lucrative opportunities for the laser processing market in Japan in the coming years.

In terms of configuration, the laser processing market is segmented into fixed beam, moving beam, and hybrid. The hybrid segment held the largest laser processing market share. Hybrid configurations include both fixed and moving beam aspects and frequently involve synchronized movement of the laser and workpiece. This configuration provides greater adaptability, allowing for both fine precision work and large-scale material processing. The hybrid configuration enables adaptive production processes in which the laser route can be dynamically adjusted based on workpiece shapes or real-time feedback. This configuration increases productivity, accommodates various parts of geometries, and allows construction, shipbuilding, and heavy machinery industries to easily move too large components; this, in turn, increases the demand for hybrid configurations and drives the market growth for this segment.

LaserStar Technologies Corporation; Jenoptik AG; Fives SAS; Coherent, Inc.; Han's Laser Technology Industry Group Co. Ltd; IPG Photonics Corporation; TRUMPF SE + Co KG; TE Connectivity Ltd; Mitsubishi Electric Corp; and Lumentum Holdings Inc are among the key players profiled during this market study. Several other essential market players were also studied and analyzed to get a holistic view of the global Laser Processing Market and its ecosystem.

The overall Laser Processing Market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Laser Processing Market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Laser Processing Market.

Product Code: TIPRE00012544

1. Introduction

1.1 Scope of the Study
1.2 Market Definition, Assumptions and Limitations
1.3 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness Analysis

3. Research Methodology

4. Laser Processing Market Landscape

4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
- 4.3.1 List of Vendors in the Value Chain

5. Laser Processing Market - Key Market Dynamics

5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints

6. Laser Processing Market - Global Market Analysis

6.1 Laser Processing - Global Market Overview
6.2 Laser Processing - Global Market and Forecast to 2031

7. Laser Processing Market - Revenue Analysis (USD Million) - By Laser Type, 2020-2031

7.1 Overview
7.2 Solid Lasers
7.3 Gas Lasers
7.4 Fiber Lasers
7.5 Others

8. Laser Processing Market - Revenue Analysis (USD Million) - By Processing Configuration, 2020-2031

8.1 Overview
8.2 Fixed Beam
8.3 Moving Beam
8.4 Hybrid

9. Laser Processing Market - Revenue Analysis (USD Million) - By Industry, 2020-2031

9.1 Overview
9.2 Machine Tools
9.3 Automotive
9.4 Electronics and Microelectronics
9.5 Medical
9.6 Aerospace
9.7 Others

10. Laser Processing Market - Revenue Analysis (USD Million), 2020-2031 - Geographical Analysis

10.1 North America
- 10.1.1 North America Laser Processing Market Overview
- 10.1.2 North America Laser Processing Market Revenue and Forecasts to 2031
- 10.1.3 North America Laser Processing Market Revenue and Forecasts and Analysis - By Laser Type
- 10.1.4 North America Laser Processing Market Revenue and Forecasts and Analysis - By Processing Configuration
- 10.1.5 North America Laser Processing Market Revenue and Forecasts and Analysis - By Industry
- 10.1.6 North America Laser Processing Market Revenue and Forecasts and Analysis - By Countries
  - 10.1.6.1 United States Laser Processing Market
    - 10.1.6.1.1 United States Laser Processing Market, by Laser Type
    - 10.1.6.1.2 United States Laser Processing Market, by Processing Configuration
    - 10.1.6.1.3 United States Laser Processing Market, by Industry
  - 10.1.6.2 Canada Laser Processing Market
    - 10.1.6.2.1 Canada Laser Processing Market, by Laser Type
    - 10.1.6.2.2 Canada Laser Processing Market, by Processing Configuration
    - 10.1.6.2.3 Canada Laser Processing Market, by Industry
  - 10.1.6.3 Mexico Laser Processing Market
    - 10.1.6.3.1 Mexico Laser Processing Market, by Laser Type
    - 10.1.6.3.2 Mexico Laser Processing Market, by Processing Configuration
    - 10.1.6.3.3 Mexico Laser Processing Market, by Industry
10.2 Europe
- 10.2.1 Germany
- 10.2.2 France
- 10.2.3 Italy
- 10.2.4 United Kingdom
- 10.2.5 Russia
- 10.2.6 Rest of Europe
10.3 Asia-Pacific
- 10.3.1 Australia
- 10.3.2 China
- 10.3.3 India
- 10.3.4 Japan
- 10.3.5 South Korea
- 10.3.6 Rest of Asia-Pacific
10.4 Middle East and Africa
- 10.4.1 South Africa
- 10.4.2 Saudi Arabia
- 10.4.3 U.A.E
- 10.4.4 Rest of Middle East and Africa
10.5 South and Central America
- 10.5.1 Brazil
- 10.5.2 Argentina
- 10.5.3 Rest of South and Central America

11. Industry Landscape

11.1 Mergers and Acquisitions
11.2 Agreements, Collaborations, Joint Ventures
11.3 New Product Launches
11.4 Expansions and Other Strategic Developments

12. Competitive Landscape

12.1 Heat Map Analysis by Key Players
12.2 Company Market Share Analysis, 2024

13. Laser Processing Market - Key Company Profiles

13.1 LaserStar Technologies Corporation
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 Jenoptik AG
13.3 Fives SAS
13.4 Coherent Corp
13.5 Han's Laser Technology Industry Group Co. Ltd
13.6 IPG Photonics Corporation
13.7 TRUMPF SE + Co KG
13.8 TE Connectivity Ltd
13.9 Mitsubishi Electric Corp
13.10 Lumentum Holdings Inc

14. Appendix

14.1 Glossary
14.2 Meet Our Analysts
14.3 About The Insight Partners
14.4 Market Intelligence Cloud