IMARC Group, a leading market research company, has recently releases report titled “Industrial Laser Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global industrial laser systems market share, size and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Industrial Laser Systems Market?
The global industrial lasers systems market size reached US$ 19.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 32.3 Billion by 2028, exhibiting a growth rate (CAGR) of 8% during 2023-2028.
What are Industrial Laser Systems?
Industrial lasers systems are designed to generate a clear beam of light with regulated shape, size, and purity by using molecules or atoms and stimulated emission. They comprise a controller, filter, rotary device and galvanometer, gain medium, and energy source and mirrors to amplify the protons. They are widely available as fiber, diode, carbon dioxide (CO2), and solid-state lasers. Besides this, they assist in offering high reliability, improving accuracy, and maintaining workflow management. As a result, industrial lasers systems are widely utilized for cutting, brazing, engraving, welding, marking, and drilling purposes across the globe.
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What are the growth prospects and trends in the Industrial Laser Systems industry?
At present, the rising demand for automation due to high efficiency and enhanced productivity represents one of the primary factors strengthening the market growth. Besides this, the growing adoption of industrial lasers systems on account of the increasing demand for precision in manufacturing is offering a positive market outlook.
Apart from this, the rising utilization of industrial lasers systems in the automotive industry to manufacture electric vehicles (EVs) worldwide is propelling the market growth. Moreover, the increasing demand for miniaturization in electronic components is bolstering the growth of the market.
Furthermore, the rising employment of industrial lasers systems in three-dimensional (3D) printing of products with enhanced customization and reduced wastage is contributing to the growth of the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Fiber
- Solid State
- CO2
- Others
Breakup by Application:
- Cutting
- Welding
- Marking
- Drilling
- Others
Breakup by End Use Industry:
- Semiconductor and Electronics
- Automotive
- Aerospace and Defense
- Medical
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
ACSYS Lasertechnik US Inc., Amonics Ltd., Coherent Inc., Han’s Laser Technology Industry Group Co. Ltd, II-VI Incorporated, IPG Photonics Corporation, Jenoptik Laser GmbH, Lumibird Group, Newport Corporation (MKS Instruments Inc.), NKT Photonics A/S, Toptica Photonics AG and TRUMPF.
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