Laser Processing Market Inside, Looks For Growth Opportunities

The laser processing market is estimated to grow from USD 6.40 Billion in 2015 to USD 9.75 Billion by 2022, at a CAGR of 6.13% from 2016 to 2022. The report aims at estimating the size and future growth potential of the laser processing market across different segments such as type, application, vertical, and region. The base year considered for the study is 2015 and the market size has been projected from 2016 to 2022. With the rise in adoption of laser processing systems in the machine tools, microelectronics, medical, and automotive sectors, solid, gas, and liquid lasers are expected to play a key role in propelling the growth of the laser processing market in the next five years.

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The scope of this report covers the laser processing market based on types, applications, verticals, and geography. The laser processing market for the architecture sector is expected to exhibit highest growth during the forecast period owing to the increasing demand for design study and restructuring. Apart from this, aerospace and defense is also expected to witness considerable growth during the forecast period as lasers are being used widely for targeting and in laser radar-based applications. Medical & life sciences, automotive, and microelectronics verticals are expected to play a key role in changing the laser processing landscape; the market for these sectors is expected to grow during the forecast period.

Solid lasers held the largest share of the global laser processing market in 2015. This is because they are used in areas such as drilling holes in metals, medical applications such as endoscopy, and in military for targeting. The market for solid lasers is mainly driven by the increasing adoption of fiber, YAG, and semiconductor lasers; wherein the market for fiber lasers is expected to be large during the forecast period.

Some of the major players in the laser processing market are Coherent, Inc. (U.S.), IPG Photonics Corporation (U.S.), ROFIN-SINAR Technologies Inc. (U.S.), Trumpf Group (Germany), Newport Corporation (U.S.), Jenoptik AG (Germany), Eurolaser GmbH (Germany), Epilog Laser (U.S.), Alltec GmbH (Germany), and Lumentum Holdings Inc. (U.S.). These players adopted various strategies such as new product developments, mergers & acquisitions, partnerships, collaborations, and expansions to grow in the market.

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The scope of the report covers detailed information regarding the major factors influencing the growth of the laser processing market such as drivers, restraints, challenges and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, product and service offerings, key strategies, new product launches, mergers & acquisitions, partnerships, agreements, collaborations, and recent developments associated with the laser processing market.

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