TMCnet News
Laser Processing Market worth $11.0 billion by 2029 - Exclusive Report by MarketsandMarkets™CHICAGO, March 7, 2024 /PRNewswire/ -- The Laser Processing Market is expected to reach USD 11.0 billion by 2029 from USD 6.8 billion in 2024, at a CAGR of 10.1% during 2024–2029 according to a new report by MarketsandMarkets™. The significant growth factors associated with the Laser Processing Market growth are the Surging demand for laser processing in medical applications, advancement of laser-based techniques compared with conventional material processing methods, Significant transition towards nanodevices and microdevices production, Rising demand for authentic and top-notch products.  Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=611 Browse in-depth TOC on "Laser Processing Market" 210 – Tables Laser Processing Market Report Scope:
The solid lasers segment is projected to grow with a higher CAGR during the forecast period. The Solid lasers play a crucial role in laser processing due to their unique characteristics, reliability, and suitability for various applications. The importance of these lasers in laser processing is evident across different industries where precision, efficiency, and versatility are essential. Solid lasers prevent the wastage of materials in the active medium and produce both continuous and pulsed output at a higher efficiency than He-Ne (Helium-Neon) and Argon lasers by about 2–3%. Moving beam configuration segment is to grow at the highest growth rate during the forecast period. The movable configurations allow for dynamic adjustments to accommodate various workpieces and production requirements. The increased flexibility in directing the laser beam to different areas of the workpiece due to moving beam, is allowing for intricate and customizable patterns. This flexibility is especially advantageous in laser cutting and engraving applications, where precision is paramount. Moving beam configurations also offer higher speed and efficiency in covering larger areas than stationary setups, contributing to enhanced productivity. Moreover, the dynamic control over the laser beam's movement allows for easy processing of complex shapes and varying geometries. The cutting application holds the largest market share during the forecast period. The market is segmented into various applications including cutting, welding, drilling, welding, marking & engraving, microprocessing, advanced processing, and others. The global rise in the cutting of both metals and non-metals has heightened the demand for high-powered lasers. Over recent years, lasers have garnered significant popularity not only in high-power applications but also in low power uses, including cutting plastics and paper. In the microelectronics sector, lasers have demonstrated their cost-effective prowess as a method for cutting wafers, ensuring the production of top-tier, high-quality products. Aerospace industry is expected to grow at a highest CAGR during the forecast period. Laser processing plays a crucial and multifaceted role in the aerospace industry, contributing to various aspects of manufacturing, maintenance, and research. Laser processing is widely favored in the aerospace industry for its exceptional precision, material versatility, and ability to handle complex geometries. The non-contact nature of laser systems ensures minimal material distortion, a critical factor in aerospace applications where precision and structural integrity are paramount. Aerospace components demand extremely high precision, and laser processing provides a level of accuracy that is often unparalleled. Laser cutting, welding, and drilling enable the production of intricate and complex components with tight tolerances. Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=611 North America is expected to grow at the highest growth rate during the forecast period. North America consists of – the US, Canada and Mexico. The US is serving as the major contributor to the laser processing industry in this area. North America's dominance in the laser processing market is driven by region's commitment to advanced manufacturing and Industry 4.0 principles propels the integration of laser technologies, particularly in sectors like aerospace, defense, and medical device manufacturing. Laser processing plays a crucial role in automotive innovations, meeting fuel efficiency standards and advancing complex component manufacturing. The report profiles key players in laser processing companies such as Coherent Corp. (US), TRUMPF (Germany), Han's Laser Technology Industry Group Co., Ltd (China), IPG Photonics Corporation (US), Jenoptik AG (Germany), and others. Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=611 Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting Related Reports: GaN Semiconductor Device Market Size, Share, Statistics and Industry Growth Analysis Report by Type (Opto-semiconductor, RF Semiconductor, Power Semiconductor), Device (Discrete, Integrated, HEMT, MMIC), Application (Lighting and Lasers, Power Drives), Voltage Range, Vertical and Region- Global Growth Driver and Industry Forecast to 2028 Fiber Optics Market Size, Share, Statistics and Industry Growth Analysis Report by Fiber Type (Glass, Plastic), Cable Type (Single-mode, Multi-mode), Deployment (Underground, Underwater, Aerial), Application, and Region (North America, Europe, APAC, Rest of the World) - Global Forecast to 2027 Laser Marking Market Size, Share, Statistics and Industry Growth Analysis Report by Laser Type (Fiber Laser, Diode Laser, Solid-state Laser, CO2 Laser, UV Laser), Industry (Machine Tools, Semiconductor & Electronics, Automotive), Offering, Application, Method, Material and Region - Global Forecast to 2027 Laser Technology Market by Type (Solid, Liquid, Gas), Product (Laser, System), Application (Laser Processing, Optical Communication, Optoelectronic Devices), Vertical (Telecommunications, Industrial) and Region - Global Forecast to 2027 5G Infrastructure Market by Communication Infrastructure (Small Cell & Macro Cell), Core Network (SDN & NFV), Network Architecture (Standalone & Non-standalone), Operational Frequency (Sub 6GHz & Above 6GHz), End User & Geography - Global Forecast to 2027 About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Logo: https://mma.prnewswire.com/media/2297424/MarketsandMarkets_Logo.jpg
|
View original content: