Laser Processing Market | APAC expected to hold the largest share and witness highest growth

The laser processing market is estimated to reach USD 9.75 Billion by 2022, at a CAGR of 6.13% between 2016 and 2022. The increasing use of solid and gas lasers mainly CO2, fiber, dye, excimer, and YAG in the cutting, drilling and marking & engraving applications, and the growing demand for lasers across diversified verticals are driving the growth of the laser processing market.

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The laser processing market in APAC is expected to hold the largest share during the forecast period. APAC offers potential growth opportunities to the laser processing market as there is a rise in the verticals using laser systems such as aerospace & defense and architecture that leverage on the power of lasers for carrying out functions such as material processing and marking & engraving that are time-consuming and cumbersome.

However, the cost of owning a laser-based system is high and thus is a major factor hindering the growth of the said market. There are a few laser systems which are priced on the higher side due to their high power output and high efficiency.

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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