Laser Processing Market
Laser Processing Market Analysis By Type (Solid, Liquid, Gas, Other Types) By Vertical (Machine Tools, Medical & Life Sciences, Automotive, Aerospace & Defense, Architecture, Other Verticals) & Region - Global Market Insights 2022 to 2032
Analysis of Laser Processing Market covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Laser Processing Market Growth Outlook (2022 to 2032)
The global laser processing market is estimated to expand briskly at a CAGR of 7.5%, rising from its current value of US$ 16 billion to reach US$ 33 billion by the end of 2032.
Laser processing has become an essential component of many industrial applications. LASER (Light Amplification by Stimulated Emission of Radiation) is a light technology that varies from ordinary light as it contains monochromatic and coherent photons of energy. Moreover, unlike ordinary light, laser light has the capacity to focus on a small spot due to the laser beams' exceptionally low divergence.
Laser processing technology is extensively employed in the aerospace and defense, automotive, architecture, medical, telecommunications, and packaging industries for cutting, punching, welding, scribing, and heat treatments. These industries use a variety of laser processes, including laser cutting, hybrid laser welding, laser cleaning, laser welding, laser marking, laser cladding, laser drilling, and laser brazing.
The increasing usage of solid and gas lasers in drilling, cutting, engraving, and marking applications, as well as escalating demand from various end-use industries, are projected to drive the sales of laser processing.
Due to the necessity for high accuracy to manufacture exceedingly complex components for patient care equipment, the medical industry, in particular, offers excellent growth potential for the laser processing market.
Balloons, flexible tubing and filtering devices, and angioplasty are examples of medical items that use laser processing. Moreover, the increased usage of laser drilling to make precise holes in gas and liquid flow delivery devices is also boosting the demand for laser processing in the medical industry.
Aside from the medical industry, laser processing is witnessing an increasing demand from the semiconductor, automotive, packaging, electronics, and aerospace industries.
Laser processing is commonly used in the production of electronic parts and components. The increasing usage of laser technology in the industrial sector for a variety of material processing applications such as cutting, welding, engraving, and drilling is anticipated to drive the market for laser processing.
Furthermore, laser processing is extensively used in the automotive industry. This is due to the increasing need for high-power carbon dioxide lasers for wielding automotive components. Moreover, the growing proclivity of automobile manufacturers to employ laser-wielding sheet assemblies as a substitute for resistance spot welding is expected to be a major driving factor for laser processing.
Additionally, the rising demand for laser processing in the packaging industry as a result of the global expansion in e-commerce operations is predicted to increase the sales growth of laser processing.
Furthermore, growing demand for wireless-enabled gadgets, telecom equipment, and mobile devices, as well as increased commercialization of laser-based photovoltaic (PV) modules with better throughput, lower processing costs, and enhanced module efficiencies, are projected to propel the growth of the global laser processing industry.
| Report Attributes | Details |
|---|---|
| Laser Processing Market Size in 2022 | US$ 16 Billion |
| Projected Market Value (2032) | US$ 33 Billion |
| Global Market Growth Rate (2022 to 2032) | 7.5% CAGR |
| Asia Pacific Market Share (2021) | 40.0% |
| Solid Segment Share (2021) | 55% |
| Key Companies Profiled | Amada Co, Ltd; Spectra Physics, Inc; Epilog Laser; LaserStar Technologies Corporation; Lumentum Operations LLC; Han's Laser Technology Industry Group Co., Ltd; Wuhan HGLaser Engineering Co., Ltd; IPG Photonics Corporation; Jenoptik AG; Coherent, Inc; Trumpf Group; Wuhan Raycus Fiber Laser Technologies Co., Ltd |
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Which Factors are Fueling the Demand for Laser Processing?
“Numerous Benefits of Laser Processing over Traditional Material Processing Methods”
Material processing includes a broad range of metal and nonmetal procedures such as cutting, engraving, marking, and drilling. Laser technology has numerous benefits over traditional methods such as flame, plasma, and water jet.
Flame and plasma technologies are used for cutting rather than drilling, marking, or engraving, whereas waterjet is used for ablation and structuring. Waterjet generates a lot of noise while operating, making it inconvenient for material processing.
Laser technology can effectively accomplish all the aforementioned tasks while generating no noise pollution. Such factors are projected to increase the adoption of laser technology for material processing.
“Increasing Use of Laser Technology in Medical Devices & Surgeries “
The most frequently utilized technologies in medical applications are Nd: YAG and carbon dioxide lasers. Nevertheless, laser technology is gaining popularity in a variety of applications ranging from diagnosis to treatment. It is commonly used to treat hair, skin, eyes, and cancer.
With the use of laser technology, several treatments, such as artery cleaning, surgery for a detached retina, and other cosmetic procedures, have become possible. Laser technology can be used to perform cosmetic procedures such as the elimination of birthmarks/permanent on the skin, skin blotches, port-wine stains, and other skin treatments.
Moreover, lasers are utilized in the material processing of medical devices, such as implantable devices and surgical tools used in hospitals. Furthermore, laser technology is being employed in a variety of medical procedures such as dermatology, lithotripsy, mammography, angioplasty, microscopy, ophthalmology, cancer diagnosis, and medical imaging.
What Can Negatively Impact Laser Processing Demand?
High Initial Cost of Installing Laser Technology
The installation of laser technology for the needed application is both complex and costly. To establish its architecture and infrastructure, large upfront investments and massive venture capital funds are necessary. Moreover, the operating and setup process is far more complicated, costly, and time-consuming.
Furthermore, conventional plasma cutting has a fairly low yearly maintenance cost of US$ 5,000, whereas laser technology has a yearly maintenance cost of up to US$ 10,000.
Although increased usage of laser technology is lowering prices, it is still a costly technology to implement. As a result, these factors are projected to impact the demand for laser processing negatively.
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Country-wise Insights
Which Countries are Driving Market Growth in Asia Pacific?
Asia Pacific captured 40% of the global demand for laser processing in 2021. Asia Pacific represents a significant market for laser processing due to the continuously increasing use of laser systems in a variety of applications. The growing adoption of various laser technologies, particularly in machine tools and microelectronics, is propelling regional market growth.
Moreover, countries such as South Korea and Japan are encouraging market growth in Asia Pacific. South Korea and Japan have made significant investments in laser technology as part of their ongoing attempts to modernize current infrastructure and increase automation.
Why Does the United States Dominate the North American Market for Laser Processing?
Demand for laser processing in the United States is projected to rise during the forecast period. A surge in cosmetic operations and a high adoption rate of sophisticated technology are projected to drive market growth in the United States.
Furthermore, several key market players are headquartered in the United States, including Corning Incorporated, IPG Photonics Corporation, and Coherent, Inc. These businesses are launching novel laser-based technologies to broaden their product offerings.
- For instance, Coherent produced a multi-kilowatt industrial diode laser in April 2021. Coherent's new HighLight DL HPSi is a high-power diode laser in a tiny, self-contained module. It is ideal for technology vendors and end users who perform thermal treatment, metal cladding, welding, and soldering.
Such factors are helping the United States maintain dominance in North America.
Which Aspects are Bolstering Market Growth in Germany and the U.K?
The market for laser processing in Europe is likely to develop at a rapid pace due to the availability of a high number of sophisticated laser solution manufacturers in the region.
Moreover, European countries such as Germany and the United Kingdom are focusing on R&D investments and the deployment of laser-based technology to accelerate advancement across all industries. Such aspects are expected to bolster market growth in these countries.
Category-wise Insights
Why is Solid Laser Processing Most Widely Used?
Solid accounted for 55% of the global market. Solid lasers are classified as small diode-pumped Nd: YAG or Nd: YVO4 lasers, Q-switched Nd: YAG lasers, and bigger lasers in side-pumped or end-pumped configurations.
Solid lasers have several applications, including drilling holes in metals, endoscopy in medicine, and targeting in the military. The demand for solid lasers is projected to grow due to their strong usage in a variety of industries, including aerospace, automotive, medical, packaging, and machine tools.
Moreover, the growing demand for pulsed lasers for a variety of healthcare applications is driving segment expansion. Nd: YAG-based solid-state pulsed lasers are used in a variety of cosmetic operations, including skin resurfacing, scar removal, and melasma treatment.
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Emergence of Start-ups to Intensify Market Competition
The global laser processing market is highly competitive, with a few large and medium-sized firms accounting for the lion's share of market revenue. However, the competition is expected to intensify with the advent of startups like 4JET and Temicon.
To maintain their market position, key players in the laser processing market are using a variety of strategies, including strategic partnerships and contracts, mergers and acquisitions, and the development, testing, and introduction of more efficient laser technology solutions.
- TRUMPF unveiled the TruMicro 2000 and TruMicro 6000, the next generation and new ranges of their TruMicro ultrashort pulse lasers, in April 2022. The new product range introduces new technology platforms for precise power and enhances versatility. Furthermore, the two most recent generations of TruMicro lasers would broaden the microprocessing product range and give solutions to meet the market's demanding expectations.
- IPG Photonics introduced LightWELD XR, the third product offering in its handheld laser welding and cleaning product line, in March 2022. By producing a tiny spot size with six times larger energy thickness, the laser offers a wide range of cleaning capabilities and portable laser welding to handle more materials and width than prior LightWELD products.
- TRUMPF acquired Active Fiber Systems, a Germany-based firm specializing in fiber lasers, in February 2022. The companies intended to work on developing and advancing their real ultrashort-pulse laser product.
Key Segments in Industry Research
-
By Type:
- Solid
- Liquid
- Gas
- Other Types
-
By Vertical:
- Machine Tools
- Medical & Life Sciences
- Automotive
- Aerospace & Defense
- Architecture
- Other Verticals
-
By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
Table of Content
- 1. Executive Summary
- 2. Market Overview
- 3. Key Market Trends
- 4. Key Success Factors
- 5. Market Background
- 6. Global Market Volume (Units) Analysis 2017 to 2021 and Forecast, 2022 to 2032
- 7. Global Market - Pricing Analysis
- 8. Global Market Value Analysis 2017 to 2021 and Forecast, 2022 to 2032
- 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Type
- 9.1. Solid
- 9.2. Liquid
- 9.3. Gas
- 9.4. Other Types
- 10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Vertical
- 10.1. Machine Tools
- 10.2. Medical & Life Sciences
- 10.3. Automotive
- 10.4. Aerospace & Defense
- 10.5. Architecture
- 10.6. Other Verticals
- 11. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region
- 11.1. North America
- 11.2. Latin America
- 11.3. Europe
- 11.4. East Asia
- 11.5. South Asia
- 11.6. Oceania
- 11.7. Middle East and Africa (MEA)
- 12. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 13. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 14. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 15. South Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 16. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 17. Oceania Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 18. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 19. Key and Emerging Countries Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 20. Market Structure Analysis
- 21. Competition Analysis
- 21.1. Amada Co, Ltd
- 21.2. Spectra Physics, Inc
- 21.3. Epilog Laser
- 21.4. LaserStar Technologies Corporation
- 21.5. Lumentum Operations LLC
- 21.6. Han's Laser Technology Industry Group Co., Ltd
- 21.7. Wuhan HGLaser Engineering Co., Ltd
- 21.8. IPG Photonics Corporation
- 21.9. Jenoptik AG
- 21.10. Coherent, Inc
- 21.11. Trumpf Group
- 21.12. Wuhan Raycus Fiber Laser Technologies Co., Ltd
- 22. Assumptions and Acronyms Used
- 23. Research Methodology
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List Of Table
Table 01: Global Market Volume (‘000 Units) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 02: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 03: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Vertical
Table 04: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Region
Table 05: North America Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 06: North America Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 07: North America Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Vertical
Table 08: Latin America Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 09: Latin America Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 10: Latin America Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Vertical
Table 11: Europe Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 12: Europe Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 13: Europe Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Vertical
Table 14: South Asia Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 15: South Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 16: South Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Vertical
Table 17: East Asia Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 18: East Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 19: East Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Vertical
Table 20: Oceania Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 21: Oceania Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 22: Oceania Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Vertical
Table 23: Middle East and Africa Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 24: Middle East and Africa Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 25: Middle East and Africa Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Vertical
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List Of Figures
Figure 01: Global Market Volume (in 000' Units) Analysis, 2017 to 2021
Figure 02: Global Market Volume Forecast (in 000' Units), 2022 to 2032
Figure 03: Pricing Analysis (US$) Per Type, By Region, 2021
Figure 04: Pricing Analysis (US$) Per Type, By Region, 2021
Figure 05: Global Market Value Analysis (US$ Mn), 2017 to 2021
Figure 06: Global Market Value Forecast (US$ Mn), 2022 to 2032
Figure 07: Global Market Absolute $ Opportunity, 2022 to 2032
Figure 08: Global Market Share Analysis (%), By Type, 2022 to 2032
Figure 09: Global Market Y-o-Y Analysis (%), By Type, 2022 to 2032
Figure 10: Global Market Attractiveness Analysis by Type, 2022 to 2032
Figure 11: Global Market Share Analysis (%), By Vertical, 2022 to 2032
Figure 12: Global Market Y-o-Y Analysis (%), By Vertical, 2022 to 2032
Figure 13: Global Market Attractiveness Analysis by Vertical, 2022 to 2032
Figure 14: Global Market Share Analysis (%), By Region, 2022 to 2032
Figure 15: Global Market Y-o-Y Analysis (%), By Region, 2022 to 2032
Figure 16: Global Market Attractiveness Analysis by Region, 2022 to 2032
Figure 17: North America Market Value Share, By Type, 2022 (E)
Figure 18: North America Market Value Share, By Vertical, 2022 (E)
Figure 19: North America Market Value Share, By Country, 2022 (E)
Figure 20: North America Market Value Analysis (US$ Mn), 2017 to 2021
Figure 21: North America Market Value Forecast (US$ Mn), 2022 to 2032
Figure 22: North America Market Attractiveness Analysis by Type, 2022 to 2032
Figure 23: North America Market Attractiveness Analysis by Vertical, 2022 to 2032
Figure 24: North America Market Attractiveness Analysis by Country, 2022 to 2032
Figure 25: Latin America Market Value Share, By Type, 2022 (E)
Figure 26: Latin America Market Value Share, By Vertical, 2022 (E)
Figure 27: Latin America Market Value Share, By Country, 2022 (E)
Figure 28: Latin America Market Value Analysis (US$ Mn), 2017 to 2021
Figure 29: Latin America Market Value Forecast (US$ Mn), 2022 to 2032
Figure 30: Latin America Market Attractiveness Analysis by Type, 2022 to 2032
Figure 31: Latin America Market Attractiveness Analysis by Vertical, 2022 to 2032
Figure 32: Latin America Market Attractiveness Analysis by Country, 2022 to 2032
Figure 33: Europe Market Value Share, By Type, 2022 (E)
Figure 34: Europe Market Value Share, By Vertical, 2022 (E)
Figure 35: Europe Market Value Share, By Country, 2022 (E)
Figure 36: Europe Market Value Analysis (US$ Mn), 2017 to 2021
Figure 37: Europe Market Value Forecast (US$ Mn), 2022 to 2032
Figure 38: Europe Market Attractiveness Analysis by Type, 2022 to 2032
Figure 39: Europe Market Attractiveness Analysis by Vertical, 2022 to 2032
Figure 40: Europe Market Attractiveness Analysis by Country, 2022 to 2032
Figure 41: South Asia Market Value Share, By Type, 2022 (E)
Figure 42: South Asia Market Value Share, By Vertical, 2022 (E)
Figure 43: South Asia Market Value Share, By Country, 2022 (E)
Figure 44: South Asia Market Value Analysis (US$ Mn), 2017 to 2021
Figure 45: South Asia Market Value Forecast (US$ Mn), 2022 to 2032
Figure 46: South Asia Market Attractiveness Analysis by Type, 2022 to 2032
Figure 47: South Asia Market Attractiveness Analysis by Vertical, 2022 to 2032
Figure 48: South Asia Market Attractiveness Analysis by Country, 2022 to 2032
Figure 49: East Asia Market Value Share, By Type, 2022 (E)
Figure 50: East Asia Market Value Share, By Vertical, 2022 (E)
Figure 51: East Asia Market Value Share, By Country, 2022 (E)
Figure 52: East Asia Market Value Analysis (US$ Mn), 2017 to 2021
Figure 53: East Asia Market Value Forecast (US$ Mn), 2022 to 2032
Figure 54: East Asia Market Attractiveness Analysis by Type, 2022 to 2032
Figure 55: East Asia Market Attractiveness Analysis by Vertical, 2022 to 2032
Figure 56: East Asia Market Attractiveness Analysis by Country, 2022 to 2032
Figure 57: Oceania Market Value Share, By Type, 2022 (E)
Figure 58: Oceania Market Value Share, By Vertical, 2022 (E)
Figure 59: Oceania Market Value Share, By Country, 2022 (E)
Figure 60: Oceania Market Value Analysis (US$ Mn), 2017 to 2021
Figure 61: Oceania Market Value Forecast (US$ Mn), 2022 to 2032
Figure 62: Oceania Market Attractiveness Analysis by Type, 2022 to 2032
Figure 63: Oceania Market Attractiveness Analysis by Vertical, 2022 to 2032
Figure 64: Oceania Market Attractiveness Analysis by Country, 2022 to 2032
Figure 65: Middle East and Africa Market Value Share, By Type, 2022 (E)
Figure 66: Middle East and Africa Market Value Share, By Vertical, 2022 (E)
Figure 67: Middle East and Africa Market Value Share, By Country, 2022 (E)
Figure 68: Middle East and Africa Market Value Analysis (US$ Mn), 2017 to 2021
Figure 69: Middle East and Africa Market Value Forecast (US$ Mn), 2022 to 2032
Figure 70: Middle East and Africa Market Attractiveness Analysis by Type, 2022 to 2032
Figure 71: Middle East and Africa Market Attractiveness Analysis by Vertical, 2022 to 2032
Figure 72: Middle East and Africa Market Attractiveness Analysis by Country, 2022 to 2032
Figure 73: U. S. Market Value Analysis (US$ Mn), 2022 & 2032
Figure 74: U. S. Market Value Share, By Type, 2022 (E)
Figure 75: U. S. Market Value Share, By Vertical, 2022 (E)
Figure 76: Canada Market Value Analysis (US$ Mn), 2022 & 2032
Figure 77: Canada Market Value Share, By Type, 2022 (E)
Figure 78: Canada Market Value Share, By Vertical, 2022 (E)
Figure 79: Mexico Market Value Analysis (US$ Mn), 2022 & 2032
Figure 80: Mexico Market Value Share, By Type, 2022 (E)
Figure 81: Mexico Market Value Share, By Vertical, 2022 (E)
Figure 82: Brazil Market Value Analysis (US$ Mn), 2022 & 2032
Figure 83: Brazil Market Value Share, By Type, 2022 (E)
Figure 84: Brazil Market Value Share, By Vertical, 2022 (E)
Figure 85: U. K. Market Value Analysis (US$ Mn), 2022 & 2032
Figure 86: U. K. Market Value Share, By Type, 2022 (E)
Figure 87: U. K. Market Value Share, By Vertical, 2022 (E)
Figure 88: Germany Market Value Analysis (US$ Mn), 2022 & 2032
Figure 89: Germany Market Value Share, By Type, 2022 (E)
Figure 90: Germany Market Value Share, By Vertical, 2022 (E)
Figure 91: France Market Value Analysis (US$ Mn), 2022 & 2032
Figure 92: France Market Value Share, By Type, 2022 (E)
Figure 93: France Market Value Share, By Vertical, 2022 (E)
Figure 94: Italy Market Value Analysis (US$ Mn), 2022 & 2032
Figure 95: Italy Market Value Share, By Type, 2022 (E)
Figure 96: Italy Market Value Share, By Vertical, 2022 (E)
Figure 97: Spain Market Value Analysis (US$ Mn), 2022 & 2032
Figure 98: Spain Market Value Share, By Type, 2022 (E)
Figure 99: Spain Market Value Share, By Vertical, 2022 (E)
Figure 100: Russia Market Value Analysis (US$ Mn), 2022 & 2032
Figure 101: Russia Market Value Share, By Type, 2022 (E)
Figure 102: Russia Market Value Share, By Vertical, 2022 (E)
Figure 103: China Market Value Analysis (US$ Mn), 2022 & 2032
Figure 104: China Market Value Share, By Type, 2022 (E)
Figure 105: China Market Value Share, By Vertical, 2022 (E)
Figure 106: Japan Market Value Analysis (US$ Mn), 2022 & 2032
Figure 107: Japan Market Value Share, By Type, 2022 (E)
Figure 108: Japan Market Value Share, By Vertical, 2022 (E)
Figure 109: South Korea Market Value Analysis (US$ Mn), 2022 & 2032
Figure 110: South Korea Market Value Share, By Type, 2022 (E)
Figure 111: South Korea Market Value Share, By Vertical, 2022 (E)
Figure 112: India Market Value Analysis (US$ Mn), 2022 & 2032
Figure 113: India Market Value Share, By Type, 2022 (E)
Figure 114: India Market Value Share, By Vertical, 2022 (E)
Figure 115: ASEAN Market Value Analysis (US$ Mn), 2022 & 2032
Figure 116: ASEAN Market Value Share, By Type, 2022 (E)
Figure 117: ASEAN Market Value Share, By Vertical, 2022 (E)
Figure 118: Australia Market Value Analysis (US$ Mn), 2022 & 2032
Figure 119: Australia Market Value Share, By Type, 2022 (E)
Figure 120: Australia Market Value Share, By Vertical, 2022 (E)
Figure 121: New Zealand Market Value Analysis (US$ Mn), 2022 & 2032
Figure 122: New Zealand Market Value Share, By Type, 2022 (E)
Figure 123: New Zealand Market Value Share, By Vertical, 2022 (E)
Figure 124: GCC Countries Market Value Analysis (US$ Mn), 2022 & 2032
Figure 125: GCC Countries Market Value Share, By Type, 2022 (E)
Figure 126: GCC Countries Market Value Share, By Vertical, 2022 (E)
Figure 127: Turkey Market Value Analysis (US$ Mn), 2022 & 2032
Figure 128: Turkey Market Value Share, By Type, 2022 (E)
Figure 129: Turkey Market Value Share, By Vertical, 2022 (E)
Figure 130: South Africa Market Value Analysis (US$ Mn), 2022 & 2032
Figure 131: South Africa Market Value Share, By Type, 2022 (E)
Figure 132: South Africa Market Value Share, By Vertical, 2022 (E)
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What is the current valuation of the laser processing market?
The global laser processing market is valued at US$ 16 billion in 2022.
At what CAGR is the global laser processing market estimated to grow?
Global demand for laser processing is estimated to increase at a CAGR of 7.5% through 2032.
What is the forecast outlook for laser processing?
The global market for laser processing is set to reach US$ 33 billion by 2032.
Which type of laser processing held the highest market share in 2021?
Solid laser processing accounted for 55% share of the global market in 2021.
Which region captured the largest market share in 2021?
Asia Pacific leads the race and accounted for the largest share of 40% in 2021.
Which are the key companies in the global laser processing market?
Amada Co, Ltd., Spectra Physics, Inc., Epilog Laser, LaserStar Technologies Corporation, Lumentum Operations LLC, Han's Laser Technology Industry Group Co., Ltd., Wuhan HGLaser Engineering Co., Ltd., IPG Photonics Corporation, Jenoptik AG, Coherent, Inc.,
Laser Processing Market