Findings from Facts and Factors report “Industrial Laser Market by Product Type (CO2 Laser, Fiber Laser, Solid State Laser, and Others), by Power Type (High, Medium, Low), By Application (Marking, Micro-Materials, and Macro-Materials) for Aerospace, Automotive, Electronics and Semiconductors, Medical, Food & Textile, Construction, Utility, and Others: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020-2026’’
Global industrial laser market in 2019 was approximately USD 4.05 billion. The market is expected to grow at a CAGR of 8.7% and is anticipated to reach around USD 7.26 billion by 2026.
Laser is the amplified stimulated emission of radiation. Laser rays are the divergent beam of radiations that helps in micro and nano material processing. They are frequently used by metal fabricators, manufacturers, and other industrial operators for welding, cutting, engraving, boring, etching, and other metal processes. CO2 laser is the common used gas laser that has vast application area including metal processing, soft-tissue surgery, and others. Laser can be classified based on their discharge material that include, gas, solid state, chemical, dye, metal-vapor, semiconductor, and others.
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Some of the high impact rendering drivers for the industrial laser market is large investment along with ongoing research and development in high-performance laser technology. However, regulatory compliances related to laser application is hindering the market growth. Nevertheless, growing application of fiber laser is expected to propel the market in coming years.
The global industrial laser market is segmented based on product type, power type, application, end user, and region. By product type, the market is classified into CO2 laser, fiber laser, solid state laser, and others. Fiber laser held the largest market share in 2019 owing to its notable application in research and development, heavy industries, and other industries. Fiber laser produces nanosensor pulses and high peak power that is used for industrial marking and engraving applications. On the basis of power type, the global industrial laser market is divided into high(more than 1KW), medium(100W to 1KW), and low(1W to 100W). Marking, micromaterials, and macromaterials are the applications of the global industrial laser market. Micromaterials is the fastest growing application segment. By end user, the market is bifurcated into aerospace, automotive, electronics and semiconductors, medical, food & textile, construction, utility, and others.
By geography, the industrial laser market is studied in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific held the largest market share in 2019 for industrial laser and projected to be the fastest growing region in the analyzed period owing to significant investment in laser technology for scientific research, space exploration, and new launch. China is the greatest share holder for industrial laser market compared to others because of expansion of new facilities, new partnership and merger agreements between major market players and large investment in high-performance laser detection technique for space industry. North America and Europe are significant contributors in the global revenue of industrial laser market owing to significant merger and acquisitions along with ongoing research and development in the ultra-laser technology.
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Significant players for the industrial laser market are Power Technology Inc., TRUMPF, Mazak Optonics, IPG Photonics, Coherent, Bystronic, Newport Corporation, ProPhotonix, Clark MXR, Hypertharm Inc., Fastree3D, Light Blue Optics, Calmar Laser Inc., Precitec Inc., REA Jet, Sokkia Corporation, Epilog Laser, and Apollo Instruments among others.
The report segments of the global industrial laser market as follows:
Global Industrial Laser Market: Product Type Segment Analysis
- CO2 Laser
- Fiber Laser
- Solid State Laser
Global Industrial Laser Market: Power Type Segment Analysis
- High(more than 1KW)
- Medium(100W to 1KW)
- Low(1W to 100W)
Global Industrial Laser Market: Application Segment Analysis
Global Industrial Laser Market: End User Segment Analysis
- Electronics and Semiconductors
- Food & Textile
Global Industrial Laser Market: Regional Segment Analysis
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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