According to the new research report the "Laser Interferometer Market by Interferometer Type (Michelson, Fabry-Perot, Fizeau, and Twyman-Green), Type (Homodyne and Heterodyne), Application (Surface Topology, Engineering, and Science), End-Use Industry, and Geography - Global Forecast to 2025", is expected to grow from USD 237 million in 2020 to USD 334 million by 2025; it is expected to grow at a CAGR of 7.1% during 2020–2025.
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Opportunity: Growing demand for automobiles worldwide
According to Organisation Internationale des Constructeurs d'Automobiles (OICA), in FY 2019, the global sales for passenger cars and commercial vehicles stood at USD 67 million and 25 million, respectively. The increasing sales keep the automotive sector at the forefront of innovation. The automotive sector growth can be attributed to huge investments in R&D, innovations in electric vehicles (EVs), and the emergence of autonomous driving and new mobility services. Moreover, the growing demand for automobiles in emerging economies, such as China, India, Australia, and Japan, is expected to increase the demand for laser interferometers in the coming years.
Challenge: increase in rental and leasing services
The sales of new equipment are affected because, by renting and leasing, services of measurement equipment with equal capabilities can be easily availed. Companies providing renting or leasing services for measurement and calibration tools also take a major share of the revenue as many end users prefer these services. Thus, the growing demand for rental and leasing services has been a challenge for companies operating in the high-end laser interferometer market.
Laser interferometer market in APAC to grow at the highest CAGR during the forecast period
The laser interferometer market in APAC is expected to grow at the highest CAGR during the forecast period. The wide-scale adoption of optical measurement technologies for industrial applications is the key factor supporting market growth in this region. This growth can also be attributed to the increasing use of laser interferometers in the automotive, aerospace & defense, and industrial verticals in developing countries such as India and China. The increasing adoption of precision measurement by manufacturers in APAC, with a focus on accuracy and reliability of the manufactured products, is further expected to propel the growth of the laser interferometer market in APAC.
Key players in the market include Renishaw plc (UK), Keysight Technologies, Inc. (US), SIOS Meßtechnik GmbH (Germany), Zygo Corporation (US), Mahr Inc. (US), Carl Zeiss (Germany), 4D Technology Corporation (US), Olympus Corporation (Japan), Status Pro Maschinenmesstechnik GmbH (Germany), and Logitech Limited (UK). These players are increasingly undertaking product launches and developments, acquisitions, collaborations, agreements, partnerships, and expansions, to increase their market shares.
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