IMARC Group, a leading market research company, has recently releases report titled “Laser Processing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the laser processing market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How Big is the Laser Processing Market?
The global laser processing market size reached US$ 4.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.7 Billion by 2028, exhibiting a growth rate (CAGR) of 7.3% during 2023-2028.
What is Laser Processing?
Laser processing helps in laser welding, laser drilling, laser cutting, surface modification, micro-processing, etc. It uses projected beams that can be moving, fixed, or hybrid for engraving, etching, micro-processing, and material processing. Laser processing is a non-contact technique providing the manufacturer with smooth, high-quality, and dimensionally accurate cuts. It also enhances the damage resistance of materials and offers composites with no microcracks, which makes it more popular than its traditional processing methods. Presently, this technology is widely used in automotive, aerospace, defense, architecture, packaging, and telecommunication industries for punching, cutting, scribing, welding, and heat treatments.
Request for a PDF Sample of this Report: https://www.imarcgroup.com/laser-processing-market/requestsample
What Are the Growth Prospects and Trends in the Laser Processing Market?
The escalating demand for this technology, as it gives a permanent, faster, and correct way of marking and engraving while offering superior beam quality, high efficiency, and reliability, is among the key factors driving the laser processing market. Moreover, the emerging trend of miniaturization of products and microelectronic devices is also stimulating the market growth. Besides this, the widespread adoption of laser processing in the manufacturing of medical devices, such as surgical tools, pacemakers, and implantable appliances, is acting as another significant growth-inducing factor. Furthermore, numerous technological advancements have improved the edge quality and cutting speed of this technology, which is further propelling the global market. Apart from this, the development of a liquid-crystal spatial light modulator (SLM) with the highest pulsed laser power capabilities helps users to achieve high-throughput and high-precision laser processing is positively influencing the market growth. Additionally, the increasing utilization of expensive laser-drilling techniques in oil and gas exploration that reduce the cost of drilling and enhance the feasibility of uneconomic oil deposits across the globe is anticipated to fuel the laser processing market over the forecasted period.
Who Are the Key Players Operating in the Laser Processing Industry?
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Bystronic Laser Ag
- Coherent Inc.
- Epilog Laser
- Eurolaser GmbH
- Han’s Laser Technology Industry Group Co. Ltd.
- IPG Photonics Corporation
- Jenoptik AG
- LaserStar Technologies Corporation
- Newport Corporation (MKS Instruments Inc.)
- Prima Industrie S.p.A.
- Trumpf GmbH + Co. KG
- Universal Laser Systems Inc
What is Included in Market Segmentation?
The report has categorized the market based on process, product and application.
Breakup by Process:
- Material Processing
- Marking and Engraving
- Micro-Processing
Analyzed by Product:
- Gas
- Solid-State
- Fiber
- Others
Based on Application:
- Automotive
- Aerospace
- Machine Tools
- Electronics and Microelectronics
- Medical
- Packaging
Regional Analysis:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Browse the full report with TOC and list of Figures: https://www.imarcgroup.com/laser-processing-market
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163
