The global laser processing market size was exhibited at USD 20.64 billion in 2022 and is projected to hit around USD 44.09 billion by 2032, growing at a CAGR of 7.89% during the forecast period 2023 to 2032.
Key Pointers:
Laser Processing Market Report Scope
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Report Coverage |
Details |
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Market Size in 2023 |
USD 22.27 Billion |
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Market Size by 2032 |
USD 44.09 Billion |
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Growth Rate From 2023 to 2032 |
CAGR of 7.89% |
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Base Year |
2022 |
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Forecast Period |
2023 to 2032 |
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Segments Covered |
By Product, By Process and By Application |
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Market Analysis (Terms Used) |
Value (US$ Million/Billion) or (Volume/Units) |
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Regional Scope |
North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa |
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Key Companies Profiled |
Altec GmbH, Alpha Nov laser, Amada Co., Ltd., Bystronic Laser AG, Epilog Laser, Inc., Eurolaser GmbH, Han's Laser Technology Industry Group Co., Ltd., IPG Photonics Corporation, Newport Corporation, LaserStar Technologies Corporation, Coherent Inc., IPG Photonics Corporation, Newport Corporation, Trumpf GmbH + Co. KG, Universal Laser Systems, Inc., Xenetech Global Inc. and Others. |
The market growth is attributed to the increased usage of lasers in medical devices and surgery applications. In addition, the rapid growth of nano-fabrication technology is expected to contribute to the growth of the global market. Furthermore, the manufacturing sector has increased the adoption of laser technology for processing the material due to many advantages over traditional material processing, which is expected to be one of the major factors driving the market.
For example, the traditional manual metal arc welding method is used to cause high potential environmental impacts. This was a hot issue that was solved by adopting laser technology in the car industry. For instance, in July 2022, Furukawa Electric launched an Industrial fiber laser. This machine has a 12kw fiber laser system used to weld the car bodies and their parts, including the aluminum process, battery welding, and motors.
Government regulations concerning the application of this technology in the marking and engraving of products are projected to favorably impact the market growth over the forecast period. The market is anticipated to witness high growth over the next few years due to this technology's usage across a broad range of applications, comprising welding, marking, cutting, drilling, and engraving.
The strict government directives for the usage of laser technology in marking and engraving, coupled with the growing adoption of lasers in medical devices and surgeries, are anticipated to spur market growth in the near future. For instance, LASIK & Refractive technology is used in laser eye surgery to correct refractive errors like myopia, hyperopia, presbyopia, and astigmatism.
Furthermore, technical developments have improved the edge quality and cutting speed of laser processing. For instance, Hamamatsu Photonics has developed spatial light modulator (SLM), a liquid-crystal with the highest pulsed laser power capabilities of up to 400 GW/cm2, allowing customers to achieve high-throughput and high-precision laser processing.
Asia Pacific led the market with a revenue share of over 42.0% in 2022. It is expected to witness substantial growth owing to the rising number of OEMs in this region. Furthermore, China is anticipated to arise as the key consumer of industrial lasers and systems for materials processing and micro-processing. Countries such as India, South Korea, Japan, and China are expected to witness high growth owing to numerous factors such as an upsurge in the number of OEMs and automobile industry growth.
Moreover, the escalating adoption of laser systems across several application areas in the region is another factor expected to spur market growth. Government regulations pertaining to permanent and clear marks on consumer goods are estimated to ensue in greater adoption of laser processing technology across several regions. Furthermore, the growing adoption in the automotive sector is expected to boost demand in the European region.
Some of the prominent players in the Laser Processing Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Laser Processing market.
By Product
By Process
By Application
By Region
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Laser Processing Market
5.1. COVID-19 Landscape: Laser Processing Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Laser Processing Market, By Product
8.1. Laser Processing Market, by Product, 2023-2032
8.1.1 Gas
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Solid-state
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Fiber
8.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Laser Processing Market, By Process
9.1. Laser Processing Market, by Process, 2023-2032
9.1.1. Material Processing
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Marking & Engraving
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Micro-processing
9.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Laser Processing Market, By Application
10.1. Laser Processing Market, by Application, 2023-2032
10.1.1. Automotive
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Aerospace
10.1.2.1. Market Revenue and Forecast (2020-2032)
10.1.3. Machine Tools
10.1.3.1. Market Revenue and Forecast (2020-2032)
10.1.4. Electronics and Microelectronics
10.1.4.1. Market Revenue and Forecast (2020-2032)
10.1.5. Medical
10.1.5.1. Market Revenue and Forecast (2020-2032)
10.1.6. Packaging
10.1.6.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Laser Processing Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Product (2020-2032)
11.1.2. Market Revenue and Forecast, by Process (2020-2032)
11.1.3. Market Revenue and Forecast, by Application (2020-2032)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Product (2020-2032)
11.1.4.2. Market Revenue and Forecast, by Process (2020-2032)
11.1.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Product (2020-2032)
11.1.5.2. Market Revenue and Forecast, by Process (2020-2032)
11.1.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Product (2020-2032)
11.2.2. Market Revenue and Forecast, by Process (2020-2032)
11.2.3. Market Revenue and Forecast, by Application (2020-2032)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Product (2020-2032)
11.2.4.2. Market Revenue and Forecast, by Process (2020-2032)
11.2.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Product (2020-2032)
11.2.5.2. Market Revenue and Forecast, by Process (2020-2032)
11.2.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Product (2020-2032)
11.2.6.2. Market Revenue and Forecast, by Process (2020-2032)
11.2.6.3. Market Revenue and Forecast, by Application (2020-2032)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Product (2020-2032)
11.2.7.2. Market Revenue and Forecast, by Process (2020-2032)
11.2.7.3. Market Revenue and Forecast, by Application (2020-2032)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Product (2020-2032)
11.3.2. Market Revenue and Forecast, by Process (2020-2032)
11.3.3. Market Revenue and Forecast, by Application (2020-2032)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Product (2020-2032)
11.3.4.2. Market Revenue and Forecast, by Process (2020-2032)
11.3.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Product (2020-2032)
11.3.5.2. Market Revenue and Forecast, by Process (2020-2032)
11.3.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Product (2020-2032)
11.3.6.2. Market Revenue and Forecast, by Process (2020-2032)
11.3.6.3. Market Revenue and Forecast, by Application (2020-2032)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Product (2020-2032)
11.3.7.2. Market Revenue and Forecast, by Process (2020-2032)
11.3.7.3. Market Revenue and Forecast, by Application (2020-2032)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Product (2020-2032)
11.4.2. Market Revenue and Forecast, by Process (2020-2032)
11.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Product (2020-2032)
11.4.4.2. Market Revenue and Forecast, by Process (2020-2032)
11.4.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Product (2020-2032)
11.4.5.2. Market Revenue and Forecast, by Process (2020-2032)
11.4.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Product (2020-2032)
11.4.6.2. Market Revenue and Forecast, by Process (2020-2032)
11.4.6.3. Market Revenue and Forecast, by Application (2020-2032)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Product (2020-2032)
11.4.7.2. Market Revenue and Forecast, by Process (2020-2032)
11.4.7.3. Market Revenue and Forecast, by Application (2020-2032)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Product (2020-2032)
11.5.2. Market Revenue and Forecast, by Process (2020-2032)
11.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Product (2020-2032)
11.5.4.2. Market Revenue and Forecast, by Process (2020-2032)
11.5.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Product (2020-2032)
11.5.5.2. Market Revenue and Forecast, by Process (2020-2032)
11.5.5.3. Market Revenue and Forecast, by Application (2020-2032)
Chapter 12. Company Profiles
12.1. Altec GmbH
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Alpha Nov laser
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Amada Co., Ltd.
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Bystronic Laser AG
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Epilog Laser, Inc.
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Eurolaser GmbH
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Han's Laser Technology Industry Group Co., Ltd.
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. IPG Photonics Corporation
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Newport Corporation (MKS Instruments, Inc.)
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. LaserStar Technologies Corporation
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers