DUBLIN--(BUSINESS WIRE)--The "Laser Processing Market with COVID-19 Impact Analysis by Laser Type (Solid Lasers, Liquid Lasers, Gas Lasers), Configuration (Fixed Beam, Moving Beam, Hybrid), Revenue (System Revenue, Laser Revenue), Application, End-user Industry, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global laser processing market size is projected to grow from USD 4.0 billion in 2020 to USD 5.8 billion by 2025; it is projected to record a CAGR of 7.8%.
The laser processing industry's growth is driven mainly by the growing preference of end-user industries for laser-based material processing over traditional approaches, increasing demand for high-quality and genuine end-products, rising demand for miniaturization of microelectronic devices, and surging technological advancements in the medical sector. High deployment cost and lack of personnel with required technical expertise are expected to restrain the market's growth.
Machine tools end-user industry to hold the largest share of the laser processing market by 2025.
The machine tools end-user industry segment is projected to hold the largest share of the laser processing market during the forecast period. Lasers play an integral role in general machine construction, mainly in cutting and welding purposes. Lasers help achieve clean-cut edges and reliable weld seams, especially in the field of sheet metal and tube processing. For instance, lasers are used in the production of tubes and other components that are cut or welded. This has opened numerous application areas for lasers in the machine tools industry.
Solid lasers hold the largest share of the laser processing market by 2025.
The solid lasers segment is projected to hold the largest share of the laser processing market during the forecast period. Solid lasers prevent the wastage of materials in the active medium and produce both continuous and pulsed output with high efficiency. These lasers have numerous applications, such as drilling holes in metals, endoscopy in medical, and targeting in the military.
The hybrid configuration segment holds the largest share of the laser processing market by 2025.
The hybrid configuration segment is projected to hold the largest share of the laser processing market during the forecast period. A hybrid system is more efficient than the moving beam system as it provides a constant beam delivery path length and allows a comparatively simpler beam delivery system. This is due to the presence of a movable table and a movable head in the hybrid system.
System revenue segment to hold a larger share in the laser processing market by 2025.
The system revenue segment is projected to hold a larger share of the laser processing market during the forecast period. System revenue covers the revenue generated from the sales of several types of laser processing systems, such as systems for marking & engraving welding & brazing, cutting & scribing, drilling, cladding & coating, annealing, material removal, and other multi-function laser processing systems.
Cutting the application segment to hold the largest share of the laser processing market by 2025.
The cutting application segment is projected to hold the largest share of the laser processing market during the forecast period. The need for high-powered lasers for cutting of metals and non-metals is increasing worldwide. Lasers have also gained considerable traction in low-power applications, such as plastics cutting and paper cutting, in recent years. In the microelectronics industry, lasers have proven to be an economical method of cutting wafers to deliver high-quality products.
APAC to be the largest laser processing market by 2025.
The Asia Pacific (APAC) is projected to hold the largest share of the global laser processing market during the forecast period. The major countries contributing to the laser processing industry in APAC include China, Japan, South Korea, and India. APAC has been ahead in terms of the adoption of laser processing solutions as compared with other regions. High population density, rise in R&D investments in technologies, and growth of the manufacturing and electronics sectors are expected to drive the growth of the laser processing market in the region.
- Preference for Laser-Based Material Processing Over Traditional Approaches
- Increasing Demand for High-Quality and Genuine Products
- Demand for Miniaturization of Microelectronic Devices
- Technological Advancements in Medical Sector
- High Deployment Cost and Lack of Personnel with Required Technical Expertise
- Growing Number of Application Areas
- Surging Demand for Custom Marking and Engraving
- Increasing Automation Across Manufacturing Sector
- Technical Complexities in High-Power Lasers
- Environmental Concerns Over Use of Rare Earth Elements
- 600 Group
- Bystronic Laser
- Epilog Laser
- Han's Laser
- IPG Photonics
- Mks Instruments
- Photonics Industries
- Prima Industrie
- Sintec Optronics
For more information about this report visit https://www.researchandmarkets.com/r/8z1wlh