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Industrial Lasers Market Research Report Information By Type (Macro Processing and Micro Processing), By Power (Less Than 1 kW and More Than 1.1 kW), By Application (Cutting, Welding, Non Metal Processing, Additive Manufacturing, and Others), and By Region (North America, Europe, Asia-Pacific, and Rest Of The World) – Market Forecast Till 2032

ID: MRFR/IA - E/10470-HCR | 128 Pages | Author: Varsha More| April 2024

Global Industrial Lasers Market Overview

Industrial Lasers Market Size was valued at USD 7.8 Billion in 2022. The Industrial Lasering market Application is projected to grow from USD 8.8 Billion in 2023 to USD 23.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.10% during the forecast period (2024 - 2032). Escalating need for laser integration and material processing in additive manufacturing, are the key market drivers enhancing the market growth.Global Industrial Lasers Market Overview

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

Industrial Lasers Market Trends

  • Increasing demand for material processing is driving the market growth

The market for industrial lasers is being driven by the increased demand for material processing across numerous applications, including automotive, industrial machinery, aerospace, and construction. Due to many advantages, such as increased flexibility, increased productivity, and time-efficiency, laser systems are being used more and more for material processing, which is projected to lead to a strong demand for industrial laser sources in the market. Based on numerous secondary sources, the market for laser systems for material processing reached around USD 19.8 billion in 2018, growing by about 17% annually. The rise in demand for high power laser cutting and welding applications is to blame for this. The increase in automotive applications is to blame for the surge in demand for welding applications. The automotive sector is anticipated to develop as a result of the automobile industry's shift to e-mobility. Furthermore, the expansion of the automotive industry is being fueled by changing government policies. For instance, the Chinese government announced a significant easing of the country's prohibitions on foreign investment in the automobile sector in 2018. Commercial vehicles and passenger automobiles will be exempt from limits on foreign investment in 2022, after restrictions were lifted on new energy and special purpose vehicles. Therefore, it is anticipated that the aforementioned government efforts would attract significant investment, which will propel the automobile sector. This is also expected to support the growth of the industrial laser market as a whole throughout the forecast period.

Greater profitability for laser producers is being brought about by the rising demand for additive manufacturing due to its advantages, such as customisation, higher productivity, and quicker Time-To-Market. Additionally, the demand for high efficiency, waste reduction, customisation, decreased costs, and errors is driving growth in 3D manufacturing. The use of laser metal deposition and selective laser melting in machine tools for 3D printing is expected to grow the industrial lasers industry. The sector of additive manufacturing is projected to expand as a result of the growing demand for production process optimisation. Despite the substantial initial expenditure, operational costs have significantly declined over time.

Plastic, metal, and other materials used in manufacturing can be correctly and efficiently sliced with the help of laser cutting devices. Due to its ability to focus on particles as small as 25 microns—roughly one-fourth the size of a human hair—this technology allows precision cutting and welding. Therefore, this technique makes it possible to make a cut with high precision and accuracy while removing the least amount of material possible. Computer systems are coupled with CAD software, which directs the laser, in a laser cutter system to accurately cut material within a specific cutting tolerance. Because of these benefits, industrial laser systems are becoming more and more popular over traditional options. Over the course of the forecast period, this is anticipated to boost the expansion of the global market for industrial laser systems. Thus, driving the Industrial Laser cutting market revenue.

Industrial Lasers Market Segment Insights

Industrial Lasers Type Insights

The Industrial Lasers Market segmentation, based on Type, includes Macro Processing and Micro Processing. Macro processing segment dominated the global market in 2022. The slowdown in the expansion of high-power laser cutting applications is to blame for this. In addition, the political unpredictability is causing macro processing applications to lag. For instance, the manufacturing sector is anticipated to be impacted by the trade activity between China and the United States.

Industrial Lasers Power Insights

The Industrial metal forming process Market segmentation, based on Power, includes Less Than 1 kW and More Than 1.1 kW. More than 1.1 kW segment dominated the Industrial Lasers Market in 2022. Industries use lasers to quickly cut materials like metal, ceramic, and plastic. Lasers are used to cut sheet metal in the metal cutting business.

Industrial Lasers Application Insights

The Industrial Lasers Market segmentation, based on Application, includes Cutting, Welding, Non Metal Processing, Additive Manufacturing, and Others. Cutting segment dominated the global market in 2022. Industrial laser cutting system technology is focused on accuracy, lightweight, and high long-term processing stability in high-speed and high-precision operations. Many industries are continually looking for more trustworthy, quicker ways to produce precision cutting thin metals. The preferred alternative for cutting applications in the machine tool sector and other industrial markets is fibre laser technology, which has high power levels, easier maintenance, and better functionality. This is especially true for cutting applications where high production rates and higher edge quality are necessary.

Figure 1: Industrial Lasers Market, by Application, 2022 & 2032 (USD Billion)Industrial Lasers Market, by Application, 2022 & 2032

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

Industrial Lasers Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Industrial Lasers Market dominated this market in 2022 (45.80%). This is due to advancements in technology across several industries, including manufacturing, aerospace, automotive, etc. In a similar vein, the region is home to a number of important vendors, such as IPG Photonics and Coherent Inc. To develop cutting-edge laser technology solutions, many companies, SMEs, and startups have raised significant amounts of capital. Significant advancements by manufacturers of laser systems have also hinted at a merger and acquisition binge. The former plans to expand its present supplier base using the available laser welding technology. Further, the U.S. Industrial Lasers market held the largest market share, and the Canada Industrial Lasers market was the fastest growing market in the North America region.

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

Figure 2: Industrial Lasers Market Share By Region 2022 (USD Billion)Industrial Lasers Market Share By Region

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

Europe Industrial Lasers market accounted for the healthy market share in 2022. The market is expected to grow, especially in the healthcare and automotive industries. The demand for minimally invasive operations has led to the commercialization of laser systems in the region's medical business. Due to the region's growing elderly population and rising cancer incidence, medical laser systems have increased. Further, the German Industrial Lasers market held the largest market share, and the U.K Industrial Lasers market was the fastest growing market in the European region

The Asia Pacific Industrial Lasers market is expected to register significant growth from 2023 to 2032. Some significant market participants are based in Asia-Pacific, including Han's Laser Technology Industry Group and others. The market in the region is anticipated to increase as a result of the region's reputation for strength in the automotive and medical sectors. As the Asia-Pacific region is anticipated to see the greatest growth rate in the market, several firms have also invested in fostering their growth and development. Moreover, China’s Industrial Lasers market held the largest market share, and the Indian Industrial Lasers market was the fastest growing market in the Asia-Pacific region.

Industrial Lasers Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Industrial metal forming process market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Industrial Lasers 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 Industrial Lasers Industry to benefit clients and increase the market sector. In recent years, the Industrial Lasers Industry has offered some of the most significant advantages to medicine. Major players in the Industrial Lasering market, including Mega Home Appliances, Big Ass Fans, Hunter Fan Company, Crompton Greaves, and Del Mar Fans & Lighting, are attempting to increase market demand by investing in research and development operations.

Coherent is a company that creates photonics-based technology for the industrial, commercial, and scientific fields. Lasers, excimer UV systems, beam delivery components, speciality optical fibres, and photodetectors are among the company's products. Coherent unveiled the OBIS XT Series of portable smart UV lasers in June 2022. These lasers have a 320 nm wavelength and are designed to increase power capacity up to 150 milliwatts. The OBIS XT series offers streamlined integration, cutting down on time and expenses because to its small size, low heat dissipation, and integrated controller capabilities.

TRUMPF produces sheet metal manufacturing equipment and lasers for the electrical industry. The company provides a variety of manufacturing solutions, such as punching machines, punch laser machines, marking systems, additive production systems, 2D and 3D laser cutting machines, laser welding systems, laser tube cutting machines, marking systems, and marking systems. These solutions help customers increase cost-effectiveness by enhancing the upstream and downstream laser cutting processes. At the Tube trade show in Dusseldorf, Germany, in June 2022, TRUMPF unveiled an automated loading solution for laser tube-cutting equipment. The new approach moves tubes automatically from the storage system to the tube-cutting device. By doing so, they enable less downtime and increased production.

Key Companies in the Industrial Lasers market include

Industrial Lasers Industry Developments

May 2022: The tiny LW2 laser marking system from Gravotech is now available in a variety of configurations based on the laser source, such as fibre or hybrid. It is appropriate for a variety of permanent marking and identification requirements, including those involving plastics and different metals (aluminium, steel, and copper).

April 2022: The FemtoBlade laser system, the second generation of the company's line of high-precision, ultrafast industrial lasers, was unveiled by Lumentum. The modular design of the new system ensures high flexibility and quick processing speed while providing high power at high repetition rates.

Industrial Lasers Market Segmentation

Industrial Lasers Type Outlook

  • Macro Processing

  • Micro Processing

Industrial Lasers Power Outlook

  • Less Than 1 kW

  • More Than 1.1 kW

Industrial Lasers Application Outlook

  • Cutting

  • Welding

  • Non Metal Processing

  • Additive Manufacturing

  • Others

Industrial Lasers Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Report Attribute/Metric Details
Market Size 2022 USD 7.8 Billion
Market Size 2023 USD 8.8 Billion
Market Size 2032 USD 23.6Billion
Compound Annual Growth Rate (CAGR) 13.10% (2024-2032)
Base Year 2023
Market Forecast Period 2024-2032
Historical Data 2018- 2023
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Power, Application, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Amonics Ltd., TRUMPF, Toptica Photonics AG., Quantel Group, Jenoptik Laser GmbH, IPG Photonics Corporation, CY Laser SRL, NKT Photonics A/S, Coherent Inc., and Apollo Instruments Inc.
Key Market Opportunities Emergence of 4.0 industry and industrial IoT
Key Market Dynamics Increasing demand for material processing and laser integration in additive manufacturing

Frequently Asked Questions (FAQ) :

The Industrial Lasers Market size was valued at USD 7.8 Billion in 2022.

The global market is projected to grow at a CAGR of 13.10% during the forecast period, 2024-2032.

North America had the largest share in the global market

The key players in the market are Amonics Ltd., TRUMPF, Toptica Photonics AG., Quantel Group, Jenoptik Laser GmbH, IPG Photonics Corporation, CY Laser SRL, NKT Photonics A/S, Coherent Inc., and Apollo Instruments Inc.

The Macro Processing Type dominated the market in 2022.

The More Than 1.1 kW Power had the largest share in the global market.

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