Industrial laser market size is to grow by USD 2,639.7 million between 2022 and 2027; Market growth is driven by the growing demand from several industries

NEW YORK, June 26, 2023 /PRNewswire/ -- The industrial laser market size is set to grow is estimated to grow by USD 2,639.7 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 7.55% during the forecast period. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Technavio offers in-depth market insights that assist global businesses to obtain growth opportunities. Read Sample Report

The report also covers the following areas:

Industrial Laser Market size

Industrial Laser Market Trends

Industrial Laser Market industry analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Aisin Corp., Amonics Ltd., Calmar Laser Inc., FANUC Corp., II VI Inc., IPG Photonics Corp., Jenoptik AG, Laserline GmbH, Lumentum Holdings Inc., MKS Instruments Inc., nLIGHT Inc., Novanta Inc., Nuphoton Technologies Inc., Precitec GmbH and Co. KG, PRIMA INDUSTRIE Spa, TroGroup GmbH, TRUMPF SE Co. KG, Universal Laser Systems Inc., NKT AS, and Hans Laser Technology Industry Group Co. Ltd. are some of the major market participants. The growing demand from several industries. Growing popularity of additive manufacturing or three-dimensional (3D) printing. Increasing need for material processing will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.

Industrial Laser Market 2023-2027: Segmentation

Type

Power Output

Geography

The market share growth by the macro processing segment will be significant during the forecast period. The macro processing laser segment refers to industrial lasers used for large-area processing of materials, such as cutting thick and heavy materials, welding, and drilling. macro p[processing segment contains different types of lasers, such as CO2 lasers, fibre lasers, and solid-state lasers, used in various industrial applications, from automotive and aerospace manufacturing to shipbuilding and heavy equipment manufacturing. Macro machining lasers are developed for large-scale industrial manufacturing applications where precision and performance are necessary. Generally, these lasers are used for cutting, welding, and drilling thick materials such as metals, plastics, and composites. At more than 1 kilowatt (KW) of power, they are typically more powerful than other types of industrial lasers and can process materials at high speeds with greater accuracy and precision.

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Industrial Laser Market 2023-2027: Vendor Analysis and Scope

Some of the major vendors of the industrial laser market in the industry include Aisin Corp., Amonics Ltd., Calmar Laser Inc., FANUC Corp., II VI Inc., IPG Photonics Corp., Jenoptik AG, Laserline GmbH, Lumentum Holdings Inc., MKS Instruments Inc., nLIGHT Inc., Novanta Inc., Nuphoton Technologies Inc., Precitec GmbH and Co. KG, PRIMA INDUSTRIE Spa, TroGroup GmbH, TRUMPF SE Co. KG, Universal Laser Systems Inc., NKT AS, and Hans Laser Technology Industry Group Co. Ltd. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 15+ vendors operating in the market. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. Backed with competitive intelligence and benchmarking, our research reports on the industrial laser market are designed to provide entry support, customer profile & M&As as well as go-to-market strategy support.

Vendor Offerings

IPG Photonics Corp. - The company offers industrial lasers such as Low power CW fiber lasers, Quasi-CW fiber lasers, and Mid-IR hybrid lasers.

Jenoptik AG - The company offers industrial lasers such as high-power diode lasers.

Laserline GmbH - The company offers industrial lasers such as LDF series, and LDM series diode lasers.

What's New?

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Global competitiveness and key competitor positions

Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - buy the report!

Industrial laser market – Market DynamicsKey factor driving market growth

The increasing demand from several industries is a major factor driving the industrial laser market growth. The market is seeing substantial growth due to the growing demand for lasers in different industries such as automotive, aerospace, electronics, and healthcare. Other factors driving the growth of the market are the automotive industry using industrial lasers in a variety of applications such as cutting, welding, and marking, lasers provide the precision and speed important to manufacturing processes. Additionally, the aerospace industry uses industrial lasers for a variety of applications including cutting, drilling, and welding of metals and composites. However, industrial lasers are highly precise and quick, making them ideal for manufacturing aircraft parts. Thus, the industrial laser market is going to see positive growth due to the widespread deployment of industrial lasers across multiple industries during the forecast period.

Leading trends influencing the market

Government support and initiatives are emerging trends influencing the industrial laser market growth. Government policies are favorable in driving the market as governments around the globe are enforcing policies and incentives to encourage the adoption of industrial lasers in various industries. Governments across the globe are expanding their funding of research and development in the field of industrial lasers. For instance, the European Union announced funding of USD 2.39 billion for the development of advanced technologies, which also includes laser technology, under the Horizon Europe program. Governments offer financial incentives to promote the adoption of industrial lasers. For example, the Small Business Innovation Research (SBIR) program provides funding for small businesses to research and develop laser technology in the US. Further, governments are enforcing policies and standards to guarantee the safe and efficient use of industrial lasers. Therefore, with growing government support and initiatives, the industrial laser market is anticipated to grow during the forecast period.

Major challenges hindering the market growth

The emission of dangerous gases is a major challenge that may hinder the industrial laser market growth. Generally, industrial lasers are used to melt metals and other materials for manufacturing purposes. This process can lead to emissions of toxic gases such as nitrogen oxides, carbon monoxide, and particulate matter. These gases can have negative effects on both the environment and human health, raising concerns about their use. For instance, a University of Cambridge study found that the use of industrial lasers in metalworking can release fine dust that can cause respiratory and cardiovascular problems. Further, a European Union (EU) Collaborative Research Center has found that melting metals with lasers can release toxic gases such as nitrogen oxides and carbon monoxide. Thus, the discharge of toxic gases during the melting process is a significant problem that requires to be addressed for the industrial laser market to continue growing in a sustainable manner. Therefore, such emissions are likely to hinder the growth of the market during the forecast period.

Industrial Laser Market 2023-2027: Key Highlights

CAGR of the market during the forecast period 2023-2027

Detailed information on factors that will assist industrial laser market growth during the next five years

Estimation of the industrial laser market size and its contribution to the parent market

Predictions on upcoming trends and changes in consumer behavior

The growth of the industrial laser market

Analysis of the market's competitive landscape and detailed information on vendors

Comprehensive details of factors that will challenge the growth of industrial laser market vendors

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Industrial Laser Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 7.55%

Market growth 2023-2027

USD 2,639.7 million

Market structure

Fragmented

YoY growth 2022-2023(%)

7.0

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 34%

Key countries

US, China, Japan, Germany, and the UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Aisin Corp., Amonics Ltd., Calmar Laser Inc., FANUC Corp., II VI Inc., IPG Photonics Corp., Jenoptik AG, Laserline GmbH, Lumentum Holdings Inc., MKS Instruments Inc., nLIGHT Inc., Novanta Inc., Nuphoton Technologies Inc., Precitec GmbH and Co. KG, PRIMA INDUSTRIE Spa, TroGroup GmbH, TRUMPF SE Co. KG, Universal Laser Systems Inc., NKT AS, and Hans Laser Technology Industry Group Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global industrial laser market 2017 - 2021

4.2 Type Segment Analysis 2017 - 2021

4.3 Power Output Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by Type

6.1 Market segments

6.2 Comparison by Type

6.3 Macro processing - Market size and forecast 2022-2027

6.4 Micro processing - Market size and forecast 2022-2027

6.5 Market opportunity by Type

7 Market Segmentation by Power Output

7.1 Market segments

7.2 Comparison by Power Output

7.3 More than 1.1 kW - Market size and forecast 2022-2027

7.4 Less than 1 kW - Market size and forecast 2022-2027

7.5 Market opportunity by Power Output

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 APAC - Market size and forecast 2022-2027

9.4 North America - Market size and forecast 2022-2027

9.5 Europe - Market size and forecast 2022-2027

9.6 Middle East and Africa - Market size and forecast 2022-2027

9.7 South America - Market size and forecast 2022-2027

9.8 US - Market size and forecast 2022-2027

9.9 China - Market size and forecast 2022-2027

9.10 Germany - Market size and forecast 2022-2027

9.11 Japan - Market size and forecast 2022-2027

9.12 UK - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 Calmar Laser Inc.

12.4 Hans Laser Technology Industry Group Co. Ltd.

12.5 II VI Inc.

12.6 IPG Photonics Corp.

12.7 Jenoptik AG

12.8 Laserline GmbH

12.9 Lumentum Holdings Inc.

12.10 MKS Instruments Inc.

12.11 NKT AS

12.12 nLIGHT Inc.

12.13 Novanta Inc.

12.14 PRIMA INDUSTRIE Spa

12.15 TroGroup GmbH

12.16 TRUMPF SE Co. KG

12.17 Universal Laser Systems Inc.

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

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