Industrial Lasers Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Industrial Lasers Market

The Industrial Lasers market size was valued at USD 1.64 billion in 2018, and the market is now projected tgrow from USD 1.64 billion in 2018 tUSD 9 billion by 2032, exhibiting a CAGR of 11.9% during the forecast period of 2019-2032.

The COVID-19 pandemic had a significant impact on the Industrial laser market growth., with initial disruptions in manufacturing and supply chains and reduced demand across key end-use industries such as automotive, aerospace, and consumer electronics due tlockdowns and economic slowdowns. However, sectors like medical devices and renewable energy, which rely on precision laser applications, saw steady demand, partially offsetting declines. As economies reopened, the market rebounded, driven by resuming industrial activities, increasing adoption of automation, and the growing need for advanced laser technologies in manufacturing processes tenhance productivity and efficiency in a post-pandemic world.

The growing demand for cloth processing throughout various applications, including automobile, commercial machinery, aerospace, and creation, is riding the economic lasers marketplace. The increasing adoption of laser structures for material processing because of its numerous blessings, including stronger flexibility, progressed productiveness, and time efficiency, is likely tresult in the excessive call for commercial laser assets in the market. Based on multiple secondary resources, the laser structures for cloth processing reached about USD 19.8 billion in 2018, with an annual growth of around 17%. This is attributed tthe growth in the call for excessive power laser slicing and welding applications. The upward push in demand for welding packages is owing tincreasing automobile applications. The transition of the automotive industry towards e-mobility is anticipated tbring about an increase in Industrial Lasers market share.

Additionally, 3-D manufacturing is gaining a reputation due tthe growing want for high efficiency, waste reduction, customisation, decreased expenses, and mistakes. The three-D printing in device gear components via laser metal deposition and selective laser melting is probable tbring about increasing the economic laser market size.

Comprehensive Analysis of Industrial Lasers Market

The commercial laser marketplace is segmented by way of product and alertness. By product, it consists of CO2 lasers, stable-nation lasers, diode/excimer lasers, fibre lasers, and others, with fibre lasers anticipated tdominate due ttheir high energy, lengthy life expectancy (exceeding 30,000 hours), energy efficiency, and versatility in complex programs like 3-d micrmilling, micrreducing, and additive manufacturing. Fibre lasers are alsgaining traction in industries like automobile and aerospace for deep marking and compact electricity-saving answers. By application, the market is divided intmicroprocessing, macrprocessing, and staining and engraving, with microprocessing rising as the quickest-developing segment because of its expanding use in clinical, car, electronics, aerospace, and communications industries, in addition tthe growing demand for micromachining and semiconductor component fabrication.

Asia Pacific holds the main proportion of the industrial laser marketplace attributable tthe high laser penetration in China. This is attributed tthe growth in manufacturing and adoption of fibre laser gadgets in the production zone.

Key players in the industrial lasers market include Calmar Laser (USA), Amonics Ltd. (China), TRUMPF (Germany), Coherent Inc. (USA), Newport Corporation (USA), IPG Photonics Corporation (USA), Bystronic Laser AG (Switzerland), and JENOPTIK AG (Germany). These companies are at the forefront of developing innovative laser solutions for diverse industrial applications.

In December 2018, TRUMPF received the Photonics GmbH from Philips. This acquisition is anticipated tbolster TRUMPF’s product portfoliwith the addition of excessive-energy diode lasers.

Segmentation Table

Global Industrial Lasers Market Scope

Study Period 2015-2026

Base Year 2018

Forecast Period 2019-2026

Growth Rate CAGR of 11.9% from 2024-2032

Historical Period 2015-2017

Unit Value (USD Billion)

Segmentation By product, application, and Region

By product

Orthopedic Devices

Cardiovascular Devices

Diagnostic Imaging

IVD

MIS

Wound Management

Diabetes Care

Ophthalmic Devices

Dental Devices

Nephrology

General Surgery

Others

By application

Hospitals & ASCs

Clinics

Others

By Region

North America (the U.S. and Canada)

Europe (Germany, UK, France, and the Rest of Europe)

Asia Pacific (Japan, China, India, and the Rest of Asia Pacific)

The Rest of the World

Source: https://www.fortunebusinessinsights.com/industrial-lasers-market-102063 North America (the U.S. and Canada)

Europe (Germany, UK, France, and the Rest of Europe)

Asia Pacific (Japan, China, India, and the Rest of Asia Pacific)

The Rest of the World