NEW YORK, Oct. 11, 2023 /PRNewswire/ — The Industrial Laser Market report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the industrial laser market between 2022 and 2027 is USD 2.64 billion. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here
The increasing demand from several industries drives the industrial laser market growth. The market witnesses substantial growth due to the growing demand for lasers in different industries such as automotive, aerospace, electronics, and healthcare. Other factors driving the growth of the market are the automotive industry using industrial lasers in a variety of applications such as cutting, welding, and marking, lasers provide the precision and speed important to manufacturing processes. Additionally, the aerospace industry uses industrial lasers for a variety of applications including cutting, drilling, and welding of metals and composites. However, industrial lasers are highly precise and quick, making them ideal for manufacturing aircraft parts. Thus, the industrial laser market is going to see positive growth due to the widespread deployment of industrial lasers across multiple industries during the forecast period. Read Free Sample PDF Report Now
Market Challenge – The emission of dangerous gases is a major challenge that hinders the industrial laser market growth. Generally, industrial lasers are used to melt metals and other materials for manufacturing purposes. This process can lead to emissions of toxic gases such as nitrogen oxides, carbon monoxide, and particulate matter. Such gases can have negative effects on both the environment and human health, raising concerns about their use. For instance, a University of Cambridge study found that the use of industrial lasers in metalworking can release fine dust that can cause respiratory and cardiovascular problems. Thus, the discharge of toxic gases during the melting process is a significant problem that requires to be addressed for the industrial laser market to continue growing in a sustainable manner. Therefore, such emissions are likely to hinder the growth of the market during the forecast period. Learn about additional key drivers, trends, and challenges available with Technavio. Read Free Sample PDF Report Now
This industrial laser market report extensively covers market segmentation by type (macro processing and micro-processing), power output (more than 1.1 KW and less than 1 KW), and geography (APAC, North America, Europe, Middle East and Africa, and South America).
- By Type, the macro processing segment will be significant during the forecast period. The macro processing laser segment refers to industrial lasers used for large-area processing of materials, such as cutting thick and heavy materials, welding, and drilling. macro p[processing segment contains different types of lasers, such as CO2 lasers, fiber lasers, and solid-state lasers, used in various industrial applications, from automotive and aerospace manufacturing to shipbuilding and heavy equipment manufacturing. Macro machining lasers are developed for large-scale industrial manufacturing applications where precision and performance are necessary. Generally, these lasers are used for cutting, welding, and drilling thick materials such as metals, plastics, and composites. At more than 1 kilowatt (KW) of power, they are typically more powerful than other types of industrial lasers and can process materials at high speeds with greater accuracy and precision.
- By region, APAC is estimated to contribute 34% to the growth of the global industrial laser market during the forecast period. View Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.
Key Companies in the Industrial Laser Market:
Aisin Corp., Amonics Ltd., Calmar Laser Inc., FANUC Corp., II VI Inc., IPG Photonics Corp., Jenoptik AG, Laserline GmbH, Lumentum Holdings Inc., MKS Instruments Inc., nLIGHT Inc., Novanta Inc., Nuphoton Technologies Inc., Precitec GmbH and Co. KG, PRIMA INDUSTRIE Spa, TroGroup GmbH, TRUMPF SE Co. KG, Universal Laser Systems Inc., NKT AS, Hans Laser Technology Industry Group Co. Ltd.
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Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by Power output
Market Segmentation by Geography
Drivers, Challenges, & Trends
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