Industrial Laser Market, by Laser Type (CO2 (Carbon Dioxide), Fiber, Solid State, Semiconductor, and Others), by Application (Marking, Micro Materials, and Macro Materials), by Power (High, Medium, and Low), and By Region - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Industrial Laser Market size was valued at USD 23035.6 million in 2020, and is expected to reach USD 45314.5 million by 2030, registering a CAGR of 7.0% from 2020 to 2030. Industrial lasers are widely used for various applications in the electronics industries. Processing of materials is the most important application of industrial laser. Material processing includes welding, cutting, drilling, etc. which requires high power lasers. High reliability and flexibility is the main advantage of fiber laser as compared to other lasers. Currently, the fiber lasers are gaining more popularity in the market due to its advanced features such as higher cutting speeds, superior performance, versatility, low sensitivity, and ease of integration. Furthermore, lasers are also used in optical disk drivers, barcode scanners, and laser printers.

Market Segmentation:

On the basis of laser type, industrial laser market is majorly segmented into CO2 (carbon dioxide) lasers, fiber lasers, solid state lasers, semiconductor lasers, and others. Based on application, the market is divided into marking, micro materials, and macro materials. On the basis, by power the market is classified into high, medium, and low. By region, the industrial laser market is categorized into North America, Europe, Asia Pacific, and RoW.

Market Dynamics and Factors:

In the recent years the industrial laser market has witnessed a steady growth. Continuous technological advancements leads to growing demand for industrial lasers. Increasing demand for sensing instruments, emission of monitoring systems in oil and gas industry, growing need of bio-instrumentation in medical industry are some of the supporting factors responsible for industrial laser market growth. Moreover, these lasers are broadly used in the medical industry, in cosmetology and dermatology for laser treatment. High capital investments, high power consumption in laser cutting, thermal effects due to high heat emission, low efficiency are some of the restraining factors affecting growth of market. Innovations in the laser technology like flying micro laser, holmium- doped lasers on silicon photonics platform mainly used to reduce the manufacturing cost are opportunities for the industrial laser market to grow in the forthcoming years. The major challenges faced by the industry are higher installation cost, various health and environmental issues. Hence, manufacturers will have more focus on production of less harmful products along with low installation charges and available at affordable prices.

Geographic Analysis:

Asia Pacific was the major revenue contributor across the globe, in 2018 and is expected to continue its supremacy during the forecast period. The growth is majorly attributed to increased electronic device manufacturers, high concentration of LED/OLED, and photovoltaic cell manufacturers in APAC. China is the dominating country in this region. The growth is owing to the government policies introduced for laser industry to grow which includes enhanced production and innovations in R&D. North America will show moderate industrial laser market growth during forecasts period. US government introduced item unique identification (IUID) which is useful for product marking with manufacturing details and serial number. In Europe, market is growing with higher pace owing to the government sponsoring advanced technologies like rapid prototyping which improves product visualization.

Competitive Scenario:

Some of the key players in industrial laser market are TRUMPF, IPG Photonics, Han’s Laser Technology Co., Ltd., Mazak Optonics Corporation, Laserax, Trotec Laser, Inc., Epilog Corporation, Clark-MXR, Inc., Apollo Instruments, Inc., Suzhou Tianhong Laser Co., Ltd., Wuhan Golden Laser Co., Ltd., Huagong Tech, Wuhan Raycus Fiber Laser Technologies Co., Ltd., Daheng New Epoch Technology, Inc., Calmar Laser, Inc., and 3SP Technologies S.A.S.

Industrial Laser Market Report Scope