Laser Cleaning Market projected to be worth 723.9 Million USD by 2023

The laser cleaning market was valued at USD 551.1 Million in 2017 and is expected to reach USD 723.9 Million by 2023, at a CAGR of 4.22% during the forecast period. The base year considered for the study is 2017 and the forecast period is between 2018 and 2023.

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Objectives of the Study:

• To define, describe, and forecast the global Laser cleaning market segmented on the basis of laser type, application, and geography  
• To forecast the size in terms of value and volume of the market segments with respect to four major regions: North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)    
• To provide detailed information regarding the major factors influencing the growth of the laser cleaning market (drivers, restraints, opportunities, and challenges)
• To strategically analyze the micromarkets with respect to individual growth trends, future prospects, and contribution to the total market  
• To analyze opportunities in the market for various stakeholders by identifying high-growth segments of the Laser cleaning market
• To analyze various strategies such as joint ventures, mergers and acquisitions, product launches, and research and development (R&D) in the Laser cleaning market   

Among laser type, solid lasers are expected to lead the overall laser cleaning market because of the higher CAGR during the forecast period. The solid laser segment includes YAG and fiber lasers. The market is dominated by the YAG laser segment as YAG lasers (Nd:YAG, flash-pumped Q-switched Nd:YAG, arc-lamp pumped Q-switched Nd: YAG, and diode-pumped Q-switched Nd:YAG) are extensively used for cleaning and for other material processing applications. In the precision mechanical industry, YAG lasers play a crucial role to clean parts that have grease and mineral oils applied as lubricants or as anti-corrosives. The laser cleaning method reduces the residual contamination to practically zero level.

North America is accounted for the largest share of the laser cleaning market in 2018, followed by Europe and Asia Pacific (APAC). There is an increase in the demand for gas lasers in North America owing to the establishment of the manufacturing sector in the region. Laser cleaning systems are mainly used for the conservation and restoration of antique items and in automotive and aerospace industries and power plants. The growth of this market in Asia Pacific can be attributed to the increased use of laser cleaning in automotive parts and aerospace maintenance sector. The growth of the laser cleaning market in APAC is also driven by the rising infrastructure market in the region.

The high cost and lack of technical expertise are restraining the growth of the laser cleaning market. In 2016, Key players such as Coherent, Inc. (Coherent) (US), Trumpf Group (Trumpf) (Germany), IPG Photonics Corporation (IPG Photonics) (US), Adapt Laser Systems LLC (Adapt Laser) (US), and Clean Lasersysteme GmbH (Clean Lasersysteme) (Germany) led the laser cleaning market.

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