What Has Been the Growth Trajectory of the Laser Processing Market?
The laser processing market has seen considerable growth due to a variety of factors.
• The laser processing market has experienced speedily growth over the past few years. From $20.14 billion in 2024, the estimated value is projected to reach $22.21 billion in 2025, with a compound annual growth rate (CAGR) of 10.3%.
The development witnessed during the historical period can be linked to the widespread adoption of laser technology in manufacturing procedures, the need for high-accuracy and non-contact material processing, the expansion of sectors such as automotive, electronics, and medical devices, and the demand for effective and cost-efficient manufacturing solutions, as well as rigorous quality and precision standards in manufacturing.
What Does the Future Hold for the Laser Processing Market?
The laser processing market is expected to maintain its strong growth trajectory in upcoming years.
• In the upcoming years, the market size for laser processing is predicted to experience a swift expansion, reaching $33.97 billion by 2029, with a compound annual growth rate (CAGR) of 11.2%.
This growth within the predicted period can be tied to factors such as the utilization of high-powered and ultrafast lasers for sophisticated materials processing, incorporation of laser technology in the manufacturing of semiconductors and electronics, increased usage of laser cutting and welding in the aerospace and defense sectors, emphasis on microfabrication and miniaturization within the electronics industry, and the proliferation of laser processing in medical and healthcare applications. The forecast period is poised to witness major trends such as the predominance of fiber laser technology, the combination of laser and CNC machining in hybrid laser processing, the use of ultrafast lasers for precise micromachining, laser-based coating and surface treatments, as well as laser de-coating and cleaning processes.
What Main Forces Are Fueling Expansion In The Laser Processing Market?
The growing use of lasers in medical devices and procedures plays a substantial role in the expansion of the laser processing market. Different specialties employ medical lasers in their operations, such as ophthalmology, dermatology, plastic surgery, and dental treatments as well as in intra-abdominal, cardiothoracic, neurologic, gynecologic, and urologic operations. Lasers offer a targeted, coherent light source that can transmit high energy to an exact point. For example, Biospace, an online platform for biotech work, reported that in 2022, 330,000 cataract surgeries are performed annually in the U.K. Thus, the rising adoption of lasers in medical devices and surgeries is likely to stimulate the laser processing market's demand in the projected period.
What Are The Primary Segments In The Global Laser Processing Market?
The laser processing market covered in this report is segmented –
1) By Type: Gas Laser, Liquid Laser, Solid Laser, Other Types
2) By Application: Cutting, Welding, Drilling, Microprocessing, Marking and Engraving, Other Applications
3) By End-Use Industry: Aerospace and Defense, Automotive, Healthcare, Machine Tools, Architecture, Electronics and Microelectronics, Other End User Industries
Subsegments:
1) By Gas Laser: Carbon Dioxide (CO2) Lasers, Helium-Neon (He-Ne) Lasers, Argon Lasers
2) By Liquid Laser: Dye Lasers, Tunable Lasers
3) By Solid Laser: Neodymium (Nd) Lasers, Yttrium Aluminum Garnet (YAG) Lasers, Fiber Lasers
4) By Other Types: Semiconductor Lasers, Excimer Lasers, Fiber-Optic Lasers
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Which Key Trends Are Driving Changes In The Laser Processing Market?
Key businesses in the laser processing sector are honing in on remote surveillance systems such as mobile connectivity. This feature in laser systems grants users with the ability to manage and adjust system configurations remotely via a smartphone application, thus improving comfort and functional versatility. For example, in May 2024, US-based company Laser Photonics Corporation (LPC), introduced its advanced series of CleanTech laser purification systems, specifically crafted for tasks like cleansing, finishing, roughening, and preparing surfaces. The newly updated series comprises of mobile connectivity for remote monitoring, an easy-to-handle compact scan head, and smart overheat protection which stops operations when temperatures surpass 122°F (50°C). Furthermore, a specially developed smartphone application allows for convenient control of settings. The innovative CleanTech systems from LPC offer improved user-friendliness and safety, serving a variety of customers from small enterprises to substantial manufacturers and governmental units, while delivering precise and effective surface cleansing solutions.
Who Are the Key Players in the Laser Processing Market?
Major companies operating in the laser processing market include:
• Coherent Inc.
• TRUMPF Inc.
• Han's Laser Technology Industry Group Co. Ltd.
• IPG Photonics Corporation
• Jenoptik AG
• Rofin-Sinar Technologies Inc.
• Bystronic Laser AG
• Prima Power Group
• Amada Miyachi America Inc.
• Mitsubishi Electric Corporation
• nLIGHT Inc.
• Lumentum Holdings Inc.
• SPI Lasers UK Ltd.
• Ekspla
• FANUC Corporation
• II-VI Incorporated
• Trotec Laser GmbH
• LaserStar Technologies Corporation
• NKT Photonics A/S
• Cutera Inc.
• MKS Instruments Inc.
• Laserline GmbH
• Convergent Photonics Corporation
• ALPHA LASER GmbH
• Photonics Industries International Inc.
• Cy-laser s.r.l.
• Lumibird Medical
What Is The Most Dominant Region In The Laser Processing Market?
Asia-Pacific was the largest region in the laser processing market in 2024, and it is also expected to be the fastest-growing region in the laser processing market share during the forecast period. The regions covered in the laser processing market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
