According to a new market research report published by Credence Research “Laser Processing Systems (Gas Lasers, Solid-state Lasers, Fiber Lasers and Other (Semiconductor, Excimers, Dye etc.) Lasers) Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 - 2022” the global laser processing systems market was valued at US$ 9,766.3 Mn in 2014 and is estimated to expand with a CAGR of 8.2% from 2015 to 2022.
Market Insights
Laser technology is used for various industrial applications including cutting, welding, marking & engraving and drilling. It is suitable for processing wide range of materials such as metals, non-metals, glass, polymers, rubber and others. Due to high usability across different processes and materials, manufacturers are increasingly shifting towards laser technology in order to enhance their manufacturing operations. Laser systems offer high speed industrial processes along with accuracy as compared to the traditional industrial processing techniques. In addition, since laser is a non-contact technology, using these systems enables carrying clean and damage free processes.
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The market for laser processing systems is majorly backed by the rising industrialization worldwide. Sectors such as automotive and electronics have undergone paradigm shift over the period of time. As a result, there is a strong need for efficient industrial processing tools for applications such as cutting, welding and drilling. Since laser systems offer superior operation over traditional systems such as waterjet cutting, plasma and others, these systems have gained substantial traction in the past few decades. Further, due to government regulations on applications such as marking and engraving the demand for laser processing systems is expected to undergo strong demand in the coming years. Nevertheless, the market is significantly hampered due to the high initial costs of these systems.
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Competitive Insights:
The global laser processing systems market is fragmented in nature with large number of players operating in the market. The global laser processing system vendors face strong competition from global as well as regional players. Majority of the laser processing system vendors are located in Europe and China where there is strong industrialization. As a result, companies generate majority of their revenues from Asia Pacific and Europe. Major global companies operating in the market include ROFIN-SINAR Technologies, Inc., TRUMPF Group, Hans Technology Co., Ltd., Amada Co., Ltd. IPG Photonics and others.
Key Trends:
- Focus on enhancing the gas laser systems (especially CO2 lasers) portfolio
- Geographical expansion through organic as well as inorganic growth
- Emphasis on development of fiber laser systems
- Laser systems suitable for wide range of applications
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