The global laser processing market is expected to grow from USD 14.73 billion in 2021 to USD 16.42 billion in 2022, at a compound annual growth rate (CAGR) of 11.46%. The laser processing market is expected to reach USD 23.19 billion in 2026, growing at a CAGR of 9.02%.
The laser processing market consists of entities (organizations, exclusive traders, and partners) selling laser processing materials and products that refer to laser processing as the use of a laser beam to project a surface of a material resulting from thermal effects to achieve finishing processing, including laser welding, Laser cutting, surface modification, laser marking, laser drilling and micromachining. Laser beams are used to perform a variety of materials such as stamping, cutting, scribing, welding and heat treatment, as the laser can be adapted to the process of any material.
The main types of laser processing are gas lasers, liquid lasers, solid-state lasers and others. Gas lasers refer to lasers that generate light by passing an electric current through a gas through a process called particle inversion.
HeNe lasers are commonly used in physics labs and other educational settings and tend to be the cheapest. The main applications of laser processing include applications such as cutting, welding, drilling, micromachining, marking and engraving.
End-users for laser processing include end-user industries such as aerospace and defense, automotive, healthcare, machine tools, construction, electronics and microelectronics. And the growth of home laser engraving machines is also very rapid. In the past year, xTool's home laser engraving machine business has tripled.
Asia Pacific is the largest region for the laser processing market in 2021 and is also expected to be the fastest growing region during the forecast period. The regions covered in the Laser Processing Market report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Laser Processing Market research report is one of a series of new reports that provide laser processing market statistics including laser processing industry global market size, regional share, competitors with laser processing market shares, detailed laser processing segments, market trends, and opportunities, and any further data you may need to thrive in the laser processing industry. This Laser Processing Market research report provides a complete perspective of everything you need and an in-depth analysis of the current and future scenarios of the industry.
The increasing application of lasers in medical devices and surgical procedures has greatly contributed to the growth of the laser processing market. Medical lasers are used in a variety of specialized medical procedures, including ophthalmology, dermatology, plastic surgery, and dental procedures, as well as intra-abdominal, cardiothoracic, neurology, gynecology, and urology procedures.
Lasers help produce focused, coherent light that can deliver intense energy to precise locations. For example, according to a report published by Biospace, the UK's leading online resource for biotech jobs, 330,000 cataract surgeries will be performed in the UK each year by 2022. Additionally, 30% of people 65 and older are expected to develop cataracts in one or both eyes. In 2020, in the United States, approximately 718,000 procedures are expected to be performed. In Europe, around 757,000 laser eye surgeries are likely to be performed by 2020. Hence, increasing use of lasers in medical devices and surgeries is expected to drive the demand for laser processing solutions over the forecast period.
Technological advancement is a key trend in the growing popularity of the laser engraver. Many companies engaged in laser processing are developing new products or technologies to meet industry needs and strengthen their market positions around the world.
For example, in September 2021, the German industrial machinery manufacturer TRUMPF launched the TruLaser 1000 2D laser cutting machine, which guarantees a feed rate of up to 70% and produces with high machining quality through efficient cooling. Due to its ease of use and wide variety of materials, it is ideal for beginners and companies looking to increase their production capacity.
In 2022, the German industrial machinery manufacturer TRUMPF acquired an 80% stake in Active Fiber Systems GmbH (AFS), with the aim of enabling TRUMPF to generate very short-wavelength light with high coherence from AFS's laser systems, and For biomedical imaging and materials processing.
In 2022, Ortur home laser engraving machine company will increase its promotion efforts, use part of its turnover for marketing promotion, and increase investment in the research and development of laser engraving machines, hoping to design better and smarter home laser engraving machines. .
Active Fiber Systems GmbH Germany-based manufacturer of ultrashort pulse laser systems and fiber laser systems for scientific research applications.
The countries covered in the laser processing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom, and the United States.
