LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global CO2 laser market to post a CAGR of over 4%, according to their latest market research report. However, the growth momentum of the CO2 market is anticipated to decelerate over the forecast period owing to a decrease in the year-over-year growth projected for the market.
The increasing importance of design for manufacturing (DFM) in manufacturing units is one of the major trends being witnessed in the global CO2 laser market. DFM is a strategy or method in which firms include the process of proactively designing products. DFM will allow potential problems to be fixed in the design phase as that is the least expensive stage at which issues need to rectify.
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In this report, according to Technavio analysts, one of the key factors contributing to the growth of the global CO2 laser market is the rapid growth of high-precision machining:
Global CO2 laser market: Rapid growth of high-precision machining
The reducing sizes of instruments and devices is increasing their overall complexity, making precision and laser machining essential to design such devices. As a result, device manufacturers focus on maintaining the quality of the final product. The increasing technical and design complexity of medical devices compel medical device manufacturers to deploy CO2 laser systems. CO2 laser systems can be used to cut highly precise features in different substrates.
According to a senior analyst at Technavio for semiconductor equipment, “CO2 lasers are often used for welding a variety of dissimilar materials, including exotic-grade metals. These metals are otherwise difficult to weld together. Such laser welding properties find high use in manufacturing thin-walled and tubular medical components. Therefore, the transition towards high-precision machining will create a demand for highly efficient CO2 lasers during the forecast period.”
Global CO2 laser market: Market segmentation and analysis
This market research report segments the global CO2 laser market by application (industrial, communication, and medical), and geography (APAC, the Americas, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Based on application, the industrial segment held the largest market share in 2017, accounting for over 32% of the market. However, this segment is expected to witness a significant decrease in its market share, while the medical and communication sectors are expected to increase their market shares during the forecast period.
In 2017, APAC accounted for the major share in the global CO2 laser market, followed by EMEA and the Americas. APAC is expected to exhibit the largest increase in its market share over the forecast period, while the Americas is expected to witness a significant decrease in its market share.
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