PUBLISHER: The Business Research Company | PRODUCT CODE: 1436394
PUBLISHER: The Business Research Company | PRODUCT CODE: 1436394
An industrial laser system is a device that stimulates atoms or molecules to emit light at specific wavelengths, amplifying that light to produce a narrow beam of radiation. Industrial laser systems are used for cutting metals and fabrics, marking tracking codes for industrial traceability, welding metals, cleaning metal surfaces, altering surface roughness, and measuring part dimensions.
The primary types of lasers in industrial laser systems are fiber, solid-state, CO2, and others. Fiber lasers use an optical fiber cable with a doped fiber made of silica glass as a gain medium. Macro processing and micro processing with power ranges less than 1 kW and more than 1.1 kW find applications in cutting, welding, marking, drilling, and other industries such as semiconductors and electronics, automotive, aerospace and defense, medical, and others.
The industrial laser system market research report is one of a series of new reports from The Business Research Company that provides industrial laser system market statistics, including global laser system industry market size, regional shares, competitors with an industrial laser system market share, detailed industrial laser system market segments, market trends and opportunities, and any further data you may need to thrive in the industrial laser system industry. This industrial laser system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The industrial laser system market size has grown rapidly in recent years. It will grow from $23.13 billion in 2023 to $25.58 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The increase observed in the historical period can be ascribed to material processing applications, increased manufacturing automation, medical and scientific applications, the rise in 3D printing, and military and defense applications.
The industrial laser system market size is expected to see rapid growth in the next few years. It will grow to $38.15 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The expansion anticipated in the forecast period can be linked to increased adoption in electronics manufacturing, the growing demand for laser cutting in the automotive sector, the expansion of the aerospace industry, a rise in medical device manufacturing, and advancements in high-power laser systems. Major trends projected for the forecast period encompass integration with Industry 4.0, advancements in fiber laser technology, the emergence of laser technology, a rise in fiber laser technology, and applications of laser cleaning.
The industrial laser system market is expected to grow, driven by the increasing trend of automation in industries. Automation, which involves minimizing human input in processes through various technology applications, has led to a heightened demand for high-precision industrial laser systems. Automated laser systems combine vision and motion technologies to achieve accurate and high-quality work. According to the Association for Advancing Automation, robot orders increased by 67% in Q2 2021 compared to the same period in 2020, indicating a surge in demand for automation. Consequently, the increasing trend of automation in industries is expected to contribute to the growth of the industrial laser system market.
The industrial laser system market is poised for growth due to the increasing demand for consumer electronics. Consumer electronics encompass a broad range of electronic devices designed for personal use, utilizing industrial laser systems for precision cutting and engraving during manufacturing processes. According to the Japan Electronics and Information Technology Industries Association, the total electronic equipment production in Japan reached $52,36,535 million in May 2023, with consumer electronics production witnessing a notable increase compared to the previous year. Hence, the increasing demand for consumer electronics is driving the growth of the industrial laser system market.
Technological advancements are a key trend in the industrial laser system market, with major companies focused on developing new technological solutions to strengthen their position. In July 2021, the Japan-based electric and electronics equipment company Furukawa Electric launched an industrial laser based on fiber technology. This laser boasts high beam quality, high reliability, time stability, and high efficiency.
Major companies in the industrial laser system market are focusing on product innovation, such as CO2 smart focus laser systems, to meet evolving industry demands for enhanced precision and efficiency. A CO2 smart focus laser system is a precision technology that utilizes carbon dioxide lasers with intelligent focusing capabilities for material processing applications. In June 2023, Videojet Technologies, a US-based laser marking system company, launched the Videojet 3350 and Videojet 3350 Smart Focus 30-watt CO2 laser marking systems. Specifically engineered for fast and precise coding in industries such as food, beverage, cosmetics, pharmaceuticals, packaging, and extrusion, these lasers provide high-speed marking, enabling the printing of text, barcodes, graphics, and other information at speeds of up to 2,000 characters per second. The high-resolution marking head ensures the creation of permanent codes, supporting product traceability and anti-counterfeiting measures.
In June 2022, II-VI Incorporated, a US-based semiconductor manufacturing company, acquired Coherent Inc. for an undisclosed amount. Through this acquisition, II-VI Incorporated aims to establish itself as a global leader in compound semiconductors, photonic solutions, and laser systems. Coherent Inc. is a US-based manufacturer of laser equipment.
Major companies operating in the industrial laser system market report are Corning Inc., Fanuc Corporation, The TRUMPF Group, Newport Corporation, COHERENT Inc., Amonics Ltd., Amada Co. Ltd., DMG Mori Co. Ltd., Han's Laser Technology Co. Ltd., IPG Photonics Corporation, NKT Photonics A/S, Bystronic Laser AG, Jenoptik AG, Sodick Co. Ltd., Mazak Corporation, Prima Industrie SpA, Trodat Trotec Holding GmbH, nLIGHT Inc., Toptica Photonics AG, Universal Laser Systems, Epilog Laser Corporation, CY Laser SRL, ACSYS Lasertechnik Inc., Calmar Laser, Apollo Instruments Inc., Quantel Group, ROFIN-LASER GmbH, ALPHA LASER GmbH, Penta Laser Technology Co. Ltd., GSI Group
North America was the largest region in the industrial laser system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial laser system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the industrial laser system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The industrial laser system market consists of sales of industrial laser systems including diode/excimer lasers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Industrial Laser System Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on industrial laser system market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for industrial laser system ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The industrial laser system market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.