Laser Processing

Laser Processing

Global Laser Processing Market to Reach US$28.7 Billion by 2030

The global market for Laser Processing estimated at US$17.6 Billion in the year 2023, is expected to reach US$28.7 Billion by 2030, growing at a CAGR of 7.3% over the analysis period 2023-2030. Solid Laser Processing, one of the segments analyzed in the report, is expected to record a 7.7% CAGR and reach US$18.7 Billion by the end of the analysis period. Growth in the Liquid Laser Processing segment is estimated at 6.8% CAGR over the analysis period.

The U.S. Market is Estimated at US$3.4 Billion While China is Forecast to Grow at 9.5% CAGR

The Laser Processing market in the U.S. is estimated at US$3.4 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$7.7 Billion by the year 2030 trailing a CAGR of 9.5% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 4.1% and 5.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR.

Global Laser Processing Market - Key Trends & Drivers Summarized

Laser processing technology is a cornerstone of modern manufacturing, known for its precision, speed, and versatility in cutting, marking, engraving, and welding a wide range of materials. This technology harnesses the power of highly focused laser beams to achieve fine detailing and high-quality finishes that are crucial in industries such as electronics, automotive, and aerospace. Lasers are particularly valued for their ability to process complex parts with minimal physical contact, which reduces the risk of material deformation and enables the processing of delicate and temperature-sensitive materials. Additionally, laser processing is renowned for its efficiency in batch production and custom fabrication, making it indispensable for applications ranging from micro-scale electronic components to large-scale metal structures. Moreover, laser technology continues to evolve, integrating with other manufacturing processes to create hybrid techniques that enhance capability and resource efficiency, such as laser-assisted machining and laser-aided additive manufacturing.

The ongoing advancement in laser processing is significantly driven by continuous innovations in laser technology and materials science. Developments in fiber lasers, disk lasers, and ultra-short pulse lasers have expanded the boundaries of laser processing applications. For example, ultra-short pulse lasers allow for the processing of materials without causing heat damage, opening new opportunities in the medical devices and semiconductor industries. These lasers can create precise incisions and patterns essential for medical implants and microchip manufacturing, where traditional mechanical processing methods might fail. Furthermore, the integration of automation and AI with laser processing systems has led to the development of smarter, more adaptive processing solutions. These systems can automatically adjust parameters in real-time for optimized performance, reducing waste and energy consumption. The push towards Industry 4.0, characterized by the integration of IoT, real-time data monitoring, and interconnected production systems, further enhances the capabilities of laser processing equipment, making it a key player in the future of smart manufacturing.

The growth in the laser processing market is driven by several factors, including technological advancements, increased adoption across diverse industries, and evolving global manufacturing trends. As industries continue to seek more efficient, precise, and cost-effective manufacturing methods, laser technology is often at the forefront of these transitions. The automotive and aerospace sectors, for example, utilize laser processing for lightweighting vehicles and aircraft, which involves reducing the weight of parts to enhance fuel efficiency without compromising strength or safety. Additionally, the rise in global consumer electronics consumption demands high-speed, high-precision manufacturing processes for components like printed circuit boards and smartphone parts, areas where laser processing excels. Consumer behavior trends towards personalized and customized products have also spurred the use of laser processing in creating bespoke items. Furthermore, environmental regulations pushing for reduced waste and lower energy consumption in industrial production stimulate interest in laser technologies, which are inherently more resource-efficient than many traditional manufacturing processes. These drivers collectively ensure the continued expansion and relevance of the laser processing market in the global manufacturing landscape.

Select Competitors (Total 96 Featured) -

• II-VI, Inc.
• Amada Co., Ltd.
• IPG Photonics Corporation
• ESAB Group (UK) Ltd.
• Amada Co,. Ltd.
• Ewag AG
• Bystronic, Inc.
• Concept Laser GmbH
• Control Micro Systems (CMS)
• Epilog Laser, Inc.
• Eurolaser GmbH
• Bystronic Laser AG
• Han`s Laser Technology Industry Group Co., Ltd.
• ALLTEC GmbH - Foba
• Alpha Cnc Group Pty Limited

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.