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Industrial Laser Systems Market Size is projected to reach USD 38.07 Billion by 2030, growing at a CAGR of 8.28%: Straits Research

New York, United States, Sept. 21, 2022 (GLOBE NEWSWIRE) — Industrial lasers are used to precisely weld metals, cut metals and fabrics, mark tracking codes for manufacturing process traceability, clean metal surfaces, change surface roughness, and measure part dimensions. The EV and primary metals sectors are just two of the many areas where they are widely utilized. Due to the multiple technological advancements in an industrial setting, including industrial automation, industrial robotics, 3D printing, etc., brought about by the development of Industry 4.0 and Industrial IoT, it is projected that the adoption of laser systems in industries will rise. The demand for precision in manufacturing and other industries helps to accelerate the use of laser technologies in end-use industries.

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Improved Precision and Accuracy Fosters the Demand for Industrial Laser System

For production, lasers are used to efficiently and correctly cut several materials, including metal, plastic, and others. Due to its high focus ability to a range of 25 microns, or roughly 14 times the width of a human hair strand, the technology is used for precision cutting and welding. This enables cutting with the most incredible precision and accuracy possible while using the least amount of material possible. Due to technological advancements in consumer electronics, automotive, healthcare, networking and telecom, and computing, a small and dependable electronic device is now necessary. Such portable electronic devices demand great dimensional accuracy for components like displays. As a result, it is projected that there will be a rise in demand for the fabrication materials needed to make high-performance semiconductor components.

Report Scope

Report Metric Details
Market Size USD 38.07 Billion by 2030
CAGR 8.28% (2022-2030)
Historical Data 2019-2020
Base Year 2021
Forecast Period 2022-2030
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Technology, Components, End-Users, Regions
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors Jenoptik AG, Newport Corporation, TRUMPH GmbH, Coherent Inc., IPG Photonics Corporation, ACSYS Lasertechnik Inc., nLIGHT Inc., Han’s Laser Technology Co. Ltd, II-VI Incorporated.
Key Market Opportunities Development of Industry 4.0 and Industrial IoT
Key Market Drivers Improved Precision and Accuracy

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Regional Insights

Asia-Pacific acquires the leading market position and is expected to grow at a CAGR of 8.63% during the forecast period. Asia-Pacific houses some crucial players in the market, such as Han’s Laser Technology Industry Group, among others. The region is known for its capabilities in the Automotive and Medical industries, which is expected to drive the growth of the market in the region. Businesses have engaged in a variety of research and development operations. The region’s auto industry is moving toward electrification while requiring high rigidity, design flexibility, and productivity.

Europe occupies the second-largest market share and is expected to generate USD 8.29 billion by 2030, growing at a CAGR of 7.73%. The market is predicted to expand, particularly in the automotive and healthcare sectors. The region’s medical industry has seen the commercialization of laser systems due to the desire for minimally invasive procedures. Ophthalmology, dermatology, and dentistry are a few examples. Medical laser systems have increased due to the region’s growing aging population and rising cancer incidence. Additionally, general procedures employ the usage of medical laser devices. 

North America is growing significantly due to technological advancements in several industries, including manufacturing, aerospace, automotive, etc. In a similar line, several significant vendors, including IPG Photonics and Coherent Inc., are based in the region. Numerous companies, tiny and medium-sized enterprises (SMEs), and startups have raised large sums of money to develop cutting-edge laser technology solutions. Significant advancements made by laser system manufacturers have also hinted at a consolidation and growth spree. 

Key Highlights

  • The global industrial laser system market size was worth USD 20.15 billion in 2021. It is expected to reach USD 38.07 billion by 2030, growing at a CAGR of 8.28% during the forecast period (2022–2030).
  • By laser, the global industrial laser systems market includes Fiber, Solid-State, CO2, and Others. The Fiber segment is the largest shareholder and is expected to grow at a CAGR of 9.83% during the forecast period.
  • By application, the global industrial laser systems market includes Cutting, Welding, Marking, Drilling, and Others. The Cutting segment owns the largest market share and is expected to grow at a CAGR of 7.2% during the forecast period.
  • By end-user, the global industrial laser systems market includes Semiconductors & Electronics, Automotive, Aerospace & Defense, Medical, and Others. The Semiconductors & Electronics industry dominates the market and is expected to grow at a CAGR of 8.59% during the forecast period.

Competitive Landscape

  • Jenoptik AG
  • Newport Corporation
  • TRUMPH GmbH
  • Coherent Inc.
  • IPG Photonics Corporation
  • ACSYS Lasertechnik Inc.
  • nLIGHT Inc.
  • Han’s Laser Technology Co. Ltd
  • II-VI Incorporated

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Global Industrial Laser Systems Market: Segmentation

By Laser

  • Fiber
  • Solid-state
  • CO2
  • Others

By Application

  • Cutting
  • Welding
  • Marking
  • Drilling
  • Others

By End-user

  • Semiconductor & Electronics
  • Automotive
  • Aerospace & Defense
  • Medical
  • Others

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

TABLE OF CONTENT

  1. Introduction
    1. Market Definition
    2. Market Scope
  2. Research Methodology
    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  3. Market Overview
    1. Report Segmentation & Scope
    2. Value Chain Analysis: Industrial Laser Systems Market
    3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
    5. Market Share Analysis
  4. Laser Overview
    1. Introduction
      1. Market Size & Forecast
    2. Fiber
      1. Market Size & Forecast
    3. Solid-state
      1. Market Size & Forecast
  5. Application Overview
    1. Introduction
      1. Market Size & Forecast
    2. Cutting
      1. Market Size & Forecast
    3. Welding
      1. Market Size & Forecast
  6. Regional Overview
    1. Introduction
      1. Market Size & Forecast
    2. America
      1. North America
      2. U.S.
        1. By Laser
        2. By Application
      3. Canada
        1. By Laser
        2. By Application
      4. Mexico
        1. By Laser
        2. By Application
      5. Latin America
        1. By Laser
        2. By Application
    3. Europe
      1. Market Size & Forecast
      2. Germany
        1. By Laser
        2. By Application
      3. France
        1. By Laser
        2. By Application
      4. U.K.
        1. By Laser
        2. By Application
      5. Italy
        1. By Laser
        2. By Application
      6. Spain
        1. By Laser
        2. By Application
      7. Rest of Europe
        1. By Laser
        2. By Application
    4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
        1. By Laser
        2. By Application
      3. China
        1. By Laser
        2. By Application
      4. Australia
        1. By Laser
        2. By Application
      5. India
        1. By Laser
        2. By Application
      6. South Korea
        1. By Laser
        2. By Application
      7. Rest of Asia-Pacific
        1. By Laser
        2. By Application
    5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
        1. By Laser
        2. By Application
      3. South Africa
        1. By Laser
        2. By Application
      4. Kuwait
        1. By Laser
        2. By Application
      5. Rest of Middle East & Africa
        1. By Laser
        2. By Application
  7. Company Profile
    1. Jenoptik AG
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    2. Newport Corporation
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    3. TRUMPH GmbH
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
  8. Conclusion & Recommendation
  9. Acronyms & Abbreviations

Table of Content and Figure @ https://straitsresearch.com/report/industrial-laser-systems-market/toc

Market News

  • In July 2022, IIVI Incorporated IIVI announced a collaborative demonstration of a new 3D camera.
  • In June 2022, ACYSYS technology introduced ACSYS Technology LFR® – Large Field Removal for fast, seamless, and precise, selective paint removal, structuring, or cleaning.
  • In April 2022, ACYSYS LFR® technology will be used for processing significant components with a working area of up to 2,000 mm* 2,000 mm.
  • In January 2022, IIVI Incorporated acquired Coherent Inc, creating a world leader in materials, networking, and leaders.

News Media

Increasing Drilling Activities to Drive the Casing Drilling Market Growth

Emerging Laser Protection Technologies to Promote Laser Safety Eyewear in the Military Protection Glasses Market

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