Authored By: Sarah
11 Jul 2024

 Industrial Laser Market Size to grow by USD 2.89 billion between 2024-2028

According to a research report “ Industrial Laser Market” by Type (Macro processing, Micro processing) Power Output (More than 1.1 kW, Less than 1 kW) Geography (APAC, North America, Europe, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 2.89 billion, at a CAGR of  7.58% during the forecast period. The industrial laser market is witnessing robust expansion due to the escalating demand for lasers in sectors including automotive, aerospace, electronics, and healthcare. A key driver fueling market growth is the automotive industry, which is a significant end-user. Industrial lasers are employed in applications such as cutting, welding, and marking, delivering high precision and efficiency. In automotive manufacturing, laser welding is utilized extensively to join components like doors, hoods, and roofs, owing to its unparalleled accuracy and durability.

Browse market data tables, figures, and in-depth TOC on “Industrial Laser Market” by Type (Macro processing, Micro processing) Power Output (More than 1.1 kW, Less than 1 kW) Geography (APAC, North America, Europe, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample

 

By Type, the Macro processing segment is projected to dominate the market size in 2024

In the industrial sector, high-power lasers, specifically those exceeding 1.1 kW, play a pivotal role due to their superior capabilities in precision and power. These lasers, which include CO2, fiber, and solid-state types, are larger, more expensive, and more robust than their lower-powered counterparts. They are indispensable in industries where strength and durability are paramount, such as aerospace, automotive manufacturing, and metal fabrication. These lasers can effortlessly cut and weld thicker and stronger materials, like steel and aluminum, which are beyond the capacity of lower-powered lasers. Consequently, high-power industrial lasers are an indispensable investment for heavy-duty industrial applications.

By Power Output, More than 1.1 kW  segment is expected to hold the largest market size for the year 2024

The industrial laser market encompasses laser systems specifically engineered for large-scale material processing applications. These lasers, including CO2, fiber, and solid-state variants, are integral to industries such as automotive, aerospace, shipbuilding, and heavy machinery production. Macro processing lasers, distinguished by their capacity to handle substantial materials, deliver precision and power essential for industrial-scale manufacturing. With a power output of 1 kilowatt (KW) or greater, these lasers excel in cutting, welding, and drilling thick materials, such as metals, plastics, and composites, at high speeds and with exceptional accuracy.

APAC is forecasted to hold the largest market size by region in 2024

The industrial laser market in the Asia-Pacific (APAC) region is projected to experience significant growth during the forecast period. With APAC being a prominent manufacturing hub, countries such as China, Japan, South Korea, and India play pivotal roles in the global manufacturing industry. The expansion of manufacturing sectors, particularly in industries like automotive, electronics, and machinery, fuels the demand for industrial lasers. Rapid industrialization in countries such as India and China is driving industrial growth, leading to increased adoption of advanced manufacturing technologies, including industrial lasers. These technologies enhance efficiency, precision, and overall productivity, making them indispensable in modern manufacturing processes. The automotive industry in APAC, being one of the largest in the world, is a significant consumer of industrial lasers for applications such as welding, cutting, and marking.

The Industrial Laser Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Active Fiber Systems GmbH
  • AdValue Photonics Inc
  • AISIN CORP.
  • Amonics Ltd.
  • Calmar Laser Inc.
  • Coherent Inc.
  • FANUC Corp.
  • Hamamatsu Photonics KK
  • Hans Laser Technology Industry Group Co. Ltd.
  • IPG Photonics Corp.
  • Jenoptik AG
  • Laserglow Technologies
  • Laserline GmbH
  • Lumentum Holdings Inc.
  • MKS Instruments Inc.
  • nLIGHT Inc.
  • Nuphoton Technologies Inc.
  • Photonics Industries International Inc.
  • Precitec GmbH and Co. KG
  • TroGroup GmbH
  • TRUMPF SE Co. KG
  • VYDENCE Medical
.

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Research Analysis Overview

The industrial laser market is experiencing significant growth due to the increasing adoption of laser technology in various industries for material processing applications. Industrial laser sources are finding extensive use in welding applications, offering time-efficiency and improved productivity. Multiple secondary sources suggest that the construction, aerospace, industrial machinery, and automotive industries are major consumers of laser systems. These industries require high accuracy and complex product processing, which is best achieved through laser processing machines. Laser processing machines offer optimum flexibility and can handle different materials, including metals, plastics, and glass, with varied applications such as laser engraving for personalization and high precision processing. The aerospace industry, for instance, uses laser processing for manufacturing components with high accuracy and consistency. Similarly, the automotive industry utilizes laser processing for welding and cutting applications, ensuring high efficiency and automation. Moreover, laser processing offers enhanced flexibility and can be used for various applications, including marking, cutting, drilling, and welding. With the ability to process materials with high precision and efficiency, industrial laser systems are becoming an essential tool for manufacturers seeking to stay competitive in today's market.

Market Research Overview

The Industrial Laser Market is experiencing significant growth due to the increasing demand for macro and micro material processing in various industries. Political uncertainties have not deterred the market's progress, as electronics, medical, and marking & engraving sectors continue to drive demand for laser solutions. Macro processing applications include excimer lasers for deep marking solutions, while micro processing uses diode modules for micro cutting, blind hole machining, and 3D micro milling. Energy efficiency is a crucial factor, with fiber lasers, diode/excimer lasers, solid state lasers, and CO2 lasers offering optimization and reduced costs through waste reduction in 3D manufacturing. Industrial laser sources provide time-efficiency, improved productivity, and enhanced flexibility for machine tools components, construction, aerospace, automotive, and other industries. Errors are minimized through customization and additive manufacturing in passenger cars, commercial vehicles, new energy, e-mobility, and welding applications. With multiple secondary sources and foreign investment restrictions, laser manufacturers continue to innovate, offering faster Time-To-Market, high accuracy, complex product processing, and personalization for varied applications. Overall, the industrial laser market offers high precision processing, accuracy, and high efficiency, making it an essential component of automation in various industries.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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