The Laser Cleaning Market is projected to grow at a CAGR of 6.05% to reach US$752.274 million by 2023, from US$528.780 million in 2017. The laser cleaning market will grow on account of increasing preference towards laser cleaning over traditional methods, as it provides more accuracy and causes minimal damage, and the rising demand for varied applications such as art restoration, mould cleaning, and paint removal among many others. However, the high initial costs and limited technical knowledge required for operating these lasers are some of the factors restraining the demand for laser cleaning. The North American region holds a significant share in the market due to the early adoption of technology and the presence of some key market players. The Asia Pacific market will show many growth opportunities due to its increasing need for industrial and archaeological cleaning and restoration over the forecast period.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the laser cleaning value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the laser cleaning market.
Major industry players profiled as part of the report are Coherent, IPG Photonics Corporation, Clean Lasersysteme GmbH, Advanced Laser Technologies (ALT) Ltd., General Lasertronics, among others.
The laser cleaning market has been analyzed through following segments:
Middle East and Africa