Industrial Lasers Systems Market By Type (Macro processing, Micro processing), By Power (Less than 1 kW, More than 1.1 kW), By Application (Cutting, Welding, Non metal processing, Additive manufacturing, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030
THe global industrial laser systems market was valued at $17,345.8 million in 2020, and is projected to reach $34,764.6 million by 2030, registering a CAGR of 7.2% from 2021 to 2030. Laser system is an emission of radiation with specific wavelength, which creates light of very high intensity. These systems are used in wide range of applications such as welding, cutting, additive manufacturing, and non-metal processing. Lasers with superior beam quality generate smaller linewidths, faster marking speeds, and better outlines. The laser may also be used to print serial numbers on the products and packaging, bar codes, logos, 2D data matrix on wide variety of materials making it highly versatile for industrial and commercial applications.
The growth of the industrial laser systems market is driven by increase in green manufacturing and eco-friendly technology. Furthermore, increase in adoption of laser systems in automotive, electronics, and medical sectors is fostering the market growth forward. In addition, higher speeds and high electrical efficiency at relatively lower running costs boost the growth of the industrial lasers systems market. Moreover, lasers allow efficient cutting of metals such as copper, aluminum, and brass, as there is no fear of reflections that can damage the machine. This factor is expected to have a high impact on the lasers systems market in coming years.
Furthermore, market players are focused on developing advanced laser system machines for industrial applications to enhance productivity, reduce production time & cost, and offer stability. For instance, in July 2020, IPG Photonics Corporation launched YRL-U Series infrared fiber laser system, which offers highest industrial grade kilowatt for continuous wave lasers. The new machine is small in size and less weight that provides enhanced performance in an ultra-compact form factor with a record power to volume ratio.
The global industrial laser systems market is segmented on the basis of type, power, application, and region. On the basis of type, the market is divided into macro-processing and micro-processing. Depending on power, it is bifurcated into less than 1 kW and more than 1.1 kW. By application, it is segregated into cutting, welding, non-metal processing, additive manufacturing, and others. Region wise, the global market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The key players that operating in the global industrial laser systems market are Amonics Ltd., Apollo Instruments Inc., Coherent Inc., IPG Photonics Corporation, Jenoptik Laser GmbH, CY Laser SRL, NKT Photonics A/S, LUMIBIRD, TRUMPF Group, and Toptica Photonics AG.
Key benefits for stakeholders
The report includes in-depth analysis of different segments and provides market estimations between 2021 and 2030.
The Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
The key market players are profiled to gain an understanding of the strategies adopted by them.
This report provides a detailed analysis of the current trends and future estimations from 2021 to 2030, which helps identify the prevailing market opportunities.
Key Market Segments
By Type
Macro processing
Micro processing
By Power
Less than 1 kW
More than 1.1 kW
By Application
Cutting
Welding
Non metal processing
Additive manufacturing
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Rest of Europe
Asia-Pacific
South Korea
Rest of Asia-Pacific
China
India
Japan
LAMEA
Latin America
Middle East
Africa
Key Market Players
Amonics Ltd.
Apollo Instruments Inc.
Coherent Inc.
IPG Photonics Corporation
Jenoptik Laser GmbH
CY Laser SRL
NKT Photonics A/S
Quantel Group
TRUMPF
Toptica Photonics AG.
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