The global laser processing market was valued at US$9.291 billion in 2017 and is projected to expand at a CAGR of 9.25% over the forecast period to reach US$15.798 billion by 2023. Laser processing refers to the use of high-intensity light beams in material fabrication which include activities like cutting, engraving, drilling or welding. It is also used in the cleaning purposes using lasers. Increasing applications in medical devices and surgeries are one of the major market drivers. Also, the rapid growth of nano-fabrication technology is contributing towards the growth of the global laser processing market. U.S.A in North America is the leading supplier of lasers and hold a significant market share globally. However, high initial costs of laser processing systems is one of the major restraints of the global laser processing market.
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 region. 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 processing value chain. 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 global laser processing market.
Major industry players profiled as part of the report are Epilog Laser, IPG Photonics Corporation, Lumentum Operations LLC and Coherent-ROFIN among others.
The global laser processing market has been analyzed through following segments:
Aerospace and Defense
Europe Middle East and Africa