Laser Processings Market

Growing use of lasers across healthcare sector is driving the market growth

Market CAGR for laser processing is being driven by the rising use of lasers in medical devices and surgical applications. The quick development of nanofabrication technology is also anticipated to support the global market expansion. Due to various pros over conventional the material processing, the manufacturing industry has increased the use of laser technology, which is anticipated to be one of the key reasons driving the market.

For instance, the conventional hand metal arc welding approach has a high risk of harming the environment. The automotive sector adopted laser technology to address this pressing problem. For instance, Furukawa Electric introduced an industrial fiber laser in July 2021. To weld the automobile bodies and their components, such as the aluminum process, battery welding, and motors, this machine has a 12kw fiber laser system.

Government laws regarding the use of this technology for product marking and engraving are anticipated to have a positive effect on market growth during the forecast period. Due to the technology's widespread use in a variety of applications, including welding, marking, cutting, drilling, and engraving, the laser processing market revenue is expected to experience rapid expansion over the next few years.

Government regulations governing the use of lasers for marking and engraving, along with the expanding use of lasers in medical equipment and procedures, are expected to drive market expansion in the near future. For example, laser eye surgery employs LASIK & Refractive technologies to address refractive defects such as myopia, hyperopia, presbyopia, and astigmatism. Additionally, technological advancements have enhanced the cutting efficiency and edge quality of laser processing.

For instance, Hamamatsu Photonics created the spatial light modulator (SLM), a liquid crystal with the maximum capacity for pulsed laser power of up to 400 GW/cm2, enabling clients to do high-throughput and high-precision laser processing.

The Global Laser Processing Market Industry is projected to experience substantial growth over the next decade. With a compound annual growth rate (CAGR) of 9.18% anticipated from 2025 to 2035, the market is set to evolve significantly. The increasing adoption of laser technologies across various sectors, including manufacturing, healthcare, and electronics, is driving this growth. As industries seek to enhance efficiency and precision, the demand for laser processing solutions is expected to rise, leading to a market valuation of 67.9 USD Billion by 2035. This growth trajectory indicates a robust future for the laser processing sector.

The Global Laser Processing Market Industry is experiencing rapid technological advancements, which are enhancing the efficiency and precision of laser systems. Innovations in laser types, such as fiber lasers and ultrafast lasers, are enabling applications in various sectors, including automotive, aerospace, and electronics. These advancements not only improve processing speeds but also reduce operational costs. For instance, fiber lasers are known for their high efficiency and low maintenance requirements, making them increasingly popular. As a result, the market is projected to reach 25.8 USD Billion in 2024, reflecting the growing demand for advanced laser technologies.

The Global Laser Processing Market Industry is increasingly influenced by environmental considerations, as industries strive to adopt more sustainable practices. Laser processing technologies are known for their minimal environmental impact compared to traditional methods, as they generate less waste and consume less energy. This shift towards eco-friendly manufacturing processes is prompting companies to invest in laser systems that align with sustainability goals. As regulations become stricter and consumers demand greener products, the adoption of laser processing is likely to accelerate, contributing to the market's growth trajectory in the coming years.

The Global Laser Processing Market Industry is benefiting from expansion in emerging markets, where industrialization and technological adoption are on the rise. Countries in Asia-Pacific, particularly China and India, are witnessing significant investments in laser technology across various sectors, including textiles, electronics, and automotive. This trend is driven by the need for efficient production methods and the desire to enhance product quality. As these markets continue to develop, the demand for laser processing is expected to increase, further propelling the market's growth and creating new opportunities for manufacturers and suppliers.

The Global Laser Processing Market Industry is witnessing a surge in demand from the manufacturing sector, driven by the need for high-quality and precise production processes. Industries such as automotive and electronics are increasingly adopting laser processing for cutting, welding, and engraving applications. This trend is fueled by the advantages of laser technology, including reduced material waste and enhanced product quality. As manufacturers seek to optimize their production lines, the market is expected to grow significantly, with projections indicating a rise to 67.9 USD Billion by 2035. This growth underscores the pivotal role of laser processing in modern manufacturing.

The Global Laser Processing Market Industry is experiencing a notable increase in applications within the healthcare sector. Laser technologies are being utilized for a range of medical procedures, including surgical applications, diagnostics, and therapeutic treatments. The precision and minimally invasive nature of laser procedures are appealing to healthcare providers and patients alike. As the healthcare industry continues to innovate and adopt advanced technologies, the demand for laser processing is projected to grow. This trend not only enhances patient outcomes but also contributes to the overall expansion of the market.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia Pacific laser processing market area will dominate this market and register a growth of 45.80%, due to an increase in the number of OEMs across the region. China is anticipated to grow to be a major consumer of materials processing, micro-processing, and industrial lasers.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Laser Processing Market SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Laser Processing market accounts for the second-largest market share. The market is expanding as a result of the expanding usage of lasers in medical devices and procedures. Additionally, market expansion is anticipated to benefit from the nanofabrication technology's quick advancement. Further, the German Laser Processing market held the largest market share, and the UK Laser Processing market was the fastest growing market in the European region

The North American Laser Processing Market is expected to grow at the rapidly from 2023 to 2032. Due to the high degree of precision, excellent dimensional stability, minute heat affected zones, and thin cut kerfs that laser processing produces, the laser processing market in North America is rapidly expanding. Furthermore, U.S. Laser Processing market held the largest market share, and the Canada Laser Processing market was the fastest growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Laser Processing market expand more. Market players are also undertaking a variety of strategies to extend their global presence, with vital market improvements including product launches/extensions, contractual agreements, mergers and acquisitions, higher investments for R & D activities, and collaboration with similar organizations. To extend and survive in a more competitive and rising market climate, the Laser Processing industry must offer cost-effective items

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Laser Processing industry to benefit clients and increase the market sector. In recent years, the Laser Processing industry has offered some of the most significant advantages to medicine. Major players in the Laser Processing market, including Altec GmbH, Alphanov, Amada Co. Ltd., Bystronic Laser AG, Coherent Inc., Epilog Laser, Inc., eurolaser GmbH, Han’s Laser Technology Group Co.

Ltd., IPG Photonics Corporation, Newport Corporation, Prima Industries, LaserStar Technologies Corporation, The Needham Group, Jenoptik Laser GmbH, Q-Peak Inc., ROFIN-SINAR Technologies Inc., SEI Laser, Trumpf GmbH, Co. KG, Universal Laser Systems, Inc., Xenetech Global Inc., Trotec Laser GmbH, FOBA, and Mitsubishi Electric.

Mitsubishi Electric is a global developer, manufacturer, distributor, and retailer of electrical equipment. It is a subsidiary of General Electric. Industrial automation systems, energy and electric systems, electric devices, information and communication systems, and household appliances are among the company's key business segments. In January 2023, The "GX-F Evernext Strategy" is a brand-new approach for laser processing devices from Mitsubishi Electric. By enabling the retrofitting of the most recent technology and automation systems to older machinery, the company will help users increase productivity and competitiveness.

FOBA creates, develops, and produces laser marking systems. It focuses on camera-based precision systems, tools, and processes for laser engraving and marking. The business serves industries like automotive, semiconductors, medical technology, mechanical engineering, plastic processing, electronics, and automobiles. It also offers tool, metal, and mold marking services. In February 2020, Another laser marker for line integration has been released by FOBA: An update to the current line of fiber laser marking systems is the FOBA Y.0200-S variant.