The global laser processing market size is projected to grow from USD 4.0 billion in 2020 to USD 5.8 billion by 2025; it is projected to record a CAGR of 7.8% during the forecast period. The laser processing industry’s growth is driven mainly by the growing preference of end-user industries for laser-based material processing over traditional approaches, increasing demand for high-quality and genuine end-products, rising demand for miniaturization of microelectronic devices, and surging technological advancements in the medical sector.
Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=611
Advanced processing application to witness highest CAGR during forecast period
The advanced processing application is projected to record the highest CAGR in the laser processing market from 2020 to 2025. Lasers have witnessed new application opportunities in the field of additive manufacturing, such as cladding and 3D printing. Particularly, CO2 and fiber lasers have seen an increased level of adoption in the additive manufacturing sector, owing to which many companies are focusing on additive manufacturing.
Architecture end-user industry to witness highest CAGR during forecast period
The architecture end-user industry is projected to record the highest CAGR in the laser processing market from 2020 to 2025. Lasers help architects in creating precise models of buildings. These models are capable of accurately representing the design prior to construction, so that the necessary changes can be made to remove flaws or avoid the effect of climatic conditions, such as rain, heavy storms, and other unavoidable natural circumstances.
Laser processing market in APAC is projected to grow at highest CAGR during forecast period
The laser processing market in APAC is projected to grow at the highest CAGR during the forecast period. The major countries contributing to the market in APAC include China, Japan, South Korea, and India. APAC has been ahead in terms of the adoption of laser processing solutions as compared with other regions. High population density, rise in R&D investments in technologies, and growth of the manufacturing and electronics sectors are expected to drive the growth of the laser processing market in the region
Key Market Players
The laser processing market is currently dominated by Coherent (US), Trumpf (Germany), Han’s Laser (China), IPG Photonics (US), and Jenoptik (Germany). A few of the major strategies adopted by these players to compete in the laser processing industry include product launches & developments, expansions, partnerships, and mergers & acquisitions.
Other players operating in the market are Lumentum (US), Gravotech (France), LaserStar (US), Lumibird (France), and Epilog Laser (US). These players have adopted strategies such as product developments & launches, mergers & acquisitions, expansions, partnerships, and collaborations to grow in the laser processing market.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:Mr. Aashish Mehra
MarketsandMarkets™ INC.630 Dundee RoadSuite 430Northbrook, IL 60062USA : 1-888-600-6441
No comments:
Post a Comment