Laser Treatment Market To Hit USD 6.11 Billion By 2026 At A CAGR Of 7.3%
World leaders in the laser processing market are Altec GmbH, ALPhANOV, Amada Co., Ltd, Eurolaser GmbH, Bystronic Laser AG, LaserStar Technologies Corporation, Coherent Inc., Epilog Laser, Inc., Han’s Laser Technology Industry Group Co., Ltd ., Prima Industries, IPG Photonics Corporation, Newport Corporation (MKS Instruments, Inc.), The Needham Group (Needham Coding), ROFIN-SINAR Technologies Inc., Jenoptik Laser GmbH, Q-Peak Inc., SEI Laser, Trumpf GmbH + Co. KG, Trotec Laser GmbH, Universal Laser Systems, Inc., Xenetech Global Inc, FOBA and MitsubishiElectric.
Pune, June 08, 2021 (GLOBE NEWSWIRE) – Market analysis
Market Research Future (MRFR) expects the global laser treatment market size to reach USD 6.11 billion, registering a CAGR of 7.3% from 2020 to 2026 (forecast period).
Stimulated Emission of Radiation Light Amplification (LASER) is a device that generates light through an optical amplification process based on the stimulated emission of electromagnetic radiation. Lasers are used for different applications in commercial and industrial processes. Industrial processes typically involve material processing, marking and engraving, as well as other micro-processing using laser technology. Laser technology is used in various material processes including laser cutting, welding, drilling, etc. A laser is also used for marking / engraving consumer goods, electronic components and other parts used in industries.
Growing demand for genuine and high-quality products, demand for miniaturization of microelectronic devices, and changing preferences for laser material processing over traditional approaches are expected to drive the growth of the global laser processing market. Moreover, technological developments in the medical sector are expected to increase the demand during the forecast period. In addition, factors such as the growing adoption of disk lasers, the growing demand for automobiles and mobile electronics, and green laser devices for projection applications are positively impacting the growth of the industry.
On the other hand, the lack of technological expertise to implement the laser treatment, the varying macroeconomic conditions and the high cost of ownership, such as maintenance, implementation and investment costs, are possible obstacles to the process. global market. However, the growing number of application areas, the growing demand for custom marking and engraving, and the increasing automation in the manufacturing sector provide favorable growth opportunities. On the contrary, the major problems facing the laser processing industry are the technological complexities of high power lasers and the environmental problems related to the overuse of rare earth elements.
Due to the Covid-19 pandemic, many companies have experienced a drastic change in their business. This is due to the downturn in metal fabrication in the engineering and construction industries, which directly affects the market demand for cutting equipment. As such, the equipment is used as a cutting tool in the construction industry. This would reduce the need for copper, aluminum and steel in the engineering and construction industry. Metal manufacturers have faced tremendous pressure due to declining demand, production and income. Additionally, metal fabrication companies are overcoming cash flow and borrowing money to cover operating costs. For example, according to a recent survey by the National Association of Manufacturers (NAM), most metal manufacturers had about an 80% financial impact on their businesses.
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The global laser processing industry has been segmented on the basis of product, laser type, application, and end user.
Based on the product, the global laser processing market has been divided into gas lasers, fiber lasers, solid-state lasers, and others.
Based on laser type, the global laser treatment market has been divided into moving beam, fixed beam, and hybrid beam.
Based on the applications, the global laser processing market has been divided into cutting, marking, welding, drilling, engraving, additive manufacturing, and others.
By end user, the global laser processing market has been divided into automotive, aerospace and defense, medicine and life sciences, manufacturing, semiconductor and electronics, packaging, oil and gas, and others.
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By region, the global laser treatment market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
North America leads the world market
The North American region dominated the laser treatment market in 2019 and is expected to continue to dominate during the study period. Strict laser marking regulations are expected to propel the growth of the marking systems market in the coming years which will further increase the demand for laser processing in North America.
APAC to experience fastest growth rate
Asia-Pacific is expected to experience the fastest growth over the forecast period. Rising demand for custom markings and engravings is expected to drive the market growth in Asia-Pacific during the forecast period.
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The market is characterized by intense competition with the involvement of a few large global players holding a significant market share. The main players are focused on developing new products to provide opportunities for improving profitability through better customer relationships.
The major players in the global laser treatment market are:
Sendon International Ltd.
Altec GmbH (Germany)
Amada Co., Ltd (Japan)
Eurolaser GmbH (Germany)
Bystronic Laser AG (Switzerland)
LaserStar Technologies Corporation (United States)
Coherent Inc. (United States)
Epilog Laser, Inc. (US)
Han’s Laser Technology Industry Group Co., Ltd. (China)
Prima Industries (Italy), IPG Photonics Corporation (United States)
Newport Corporation (MKS Instruments, Inc.) (United States)
The Needham Group (Needham Coding) (England)
ROFIN-SINAR Technologies Inc. (United States)
Jenoptik Laser GmbH (Germany)
Q-Peak Inc. (United States), SEI Laser (Italy)
Trumpf GmbH + Co. KG (Germany)
Trotec Laser GmbH (Austria)
Universal Laser Systems, Inc. (Japan)
Xenetech Global Inc. (United States)
FOBA (United States)
Mitsubishi Electric (Japan)
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In July 2020, Hamamatsu Photonics developed a Liquid Crystal Spatial Light Modulator (SLM) that offers the highest pulsed laser capacity of up to 400 GW / cm2. This has enabled users to achieve high throughput and high precision laser processing of process resistant materials like CFRP used for aircraft and transportation equipment and low k materials used for 5th mobile communication systems. generation (5G).
In July 2020, Prima Power Laserdyne unveiled a hybrid additive manufacturing machine incorporating additive manufacturing, welding, drilling and Directed Energy Deposition (DED) cutting capabilities. Laserdyne 811 is intended to replace the discontinued and obsolete Laserdyne 780.
As of July 2020, Mazak Optonics Corp. introduced the FT-150 FIBER tube cutting laser designed for high speed cutting and reduced no-cut process to increase cycle times for small to medium diameter tubes. The machine features a proprietary agile U-axis that promotes speed and productivity and uses a 2.5D cutting head with focus detection.
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