CHINA, October 31, 2022 "Laser Processing - Global Market Trajectories and Analysis" report. The global laser processing market will reach $21.3 billion by 2026 The global laser processing market is estimated at $16.2 billion by 2022 and is expected to reach a revised size of $21.3 billion by 2026, with a compound annual growth rate (CAGR) over the same period 7.3%. China is the largest regional market for laser processing and is expected to reach $5.3 billion by 2026, growing at a CAGR of 9.6% over the same period.
Macromachining applications include cutting, welding, drilling and marking, while micromachining applications include micromachining and micromachining of semiconductor printed circuit boards and electronic components, among others. Laser cutting, laser welding, hybrid laser welding, laser marking, laser drilling, laser cladding, laser brazing and laser cleaning are among the various types of laser processes. Although various lasers have been developed over the years, only a few types are used for material processing applications. Each laser variant differs in different aspects such as beam quality and laser beam wavelength.
Growing use of solids and gases in drilling, cutting, engraving, and marking applications, and growing demand for lasers from different end-use verticals are driving the growth of the laser processing market. Rising demand for high-quality products and rising demand for medical and industrial applications are driving the growth of the market. In particular, the medical industry offers great growth potential for the laser processing market due to the need for high precision to manufacture extremely complex components for patient care devices. The increasing use of laser drilling to create precise holes in liquid and gas flow delivery devices has also stimulated the need for laser processing in the medical industry. .
The laser processing market is expected to witness high growth owing to the increasing use of lasers in surgical and medical devices.
In addition to the medical industry, laser processing is increasingly used in the automotive, semiconductor, aerospace and electronics industries. Laser processing is widely used in the manufacture of electronic components and parts. The increasing use of laser technology in the industrial sector for a range of material processing applications including welding, cutting, engraving, and drilling is expected to drive market growth, especially in the machine tool application market.
More and more people in the household market begin to use laser engraving machines to reflect their individual needs and presentations, and many laser engraver and cutting machines are developing towards refinement, and many hand-held laser engraving machines have appeared. The engraving effect is also very good. , of which LaserPecker 2 is the best.
Rising demand in machine tool manufacturing and emerging applications in the oil and gas and automotive industry sectors are also expected to stimulate the growth of the global laser machining market. For the automotive industry, the laser cutting process is used in production operations due to its high processing speed and high-quality cutting edges. Also driving the market growth is increasing demand for wireless devices, mobile devices, and telecommunication equipment, along with increasing commercialization of laser-based photovoltaic (PV) modules, improved module efficiency, and lower processing costs.
Select competitors (featured)
- Amada Corporation
- Coherent
- Epilog Laser
- Han's Laser Technology Industry Group Co., Ltd.
- IPG Photonics
- Jenoptik AG
- Laserstar Technology Corporation
- Lumentum Operations LLC
- Spectral Physics
- Trumpf Group
- Wuhan Huagong Laser Engineering Co., Ltd.
- Wuhan Raycus Fiber Laser Technology Co., Ltd.
- xTool
- Ortur
- LaserPecker
Abstract
- Precision manufacturing and engineering are increasingly important and are the basis for the development of laser processing technology
- Technological innovations that expand application possibilities
- Healthcare sector offers strong growth opportunities, driven by surging demand for miniaturization
- Photovoltaic modules open up new opportunities
- Growth in Additive Manufacturing Spurs Growth Opportunities in Laser Processing Market
- Growing Adoption of Laser-Based Manufacturing in the Automotive Industry: Opportunities in the Laser Machining Market
- Electrification trend expands demand for laser processing
- Advances in fiber lasers drive demand in automotive industry
- Product Traceability Drives Demand for Laser Marking in Automotive Industry
- Laser processing gains traction in electronics and MEMS device manufacturing
- Healthy smartphone and tablet market growth drives demand for lasers for micromachining applications
- Wearables: A New Growth Area for Laser Processing in MEMS Applications
- Laser integration in conventional machine tools increases tool versatility
- Semiconductor industry emerges as major end-use market for laser processing
- Ultraviolet Laser for Superior Printed Circuit Board Processing
- Textile Industry Offers Profitable Opportunity for Laser Systems
- Government regulations on consumer product labelling to drive adoption
- Green Laser Equipment: An Emerging Growth Market
- Fiber Lasers: One of the Most Disruptive Laser Technologies
- Laser cutting market: gaining momentum
- Ultrashort pulsed lasers promise widespread adoption in materials processing applications
- Laser beam shaping: a must for microdrilling with ultrashort pulsed lasers
- Ultrafast Laser Micromachining: An Important Tool for Modern Micromachining
- Advances in laser processing technology boost growth
- Hybrid technology: a major advance
