Industrial Lasers Market Insights: Understanding Consumer Behavior and Demands

Market Research Future (MRFR) has published a cooked research report on the “industrial lasers market” that contains information from 2023 to 2032. The industrial lasers market is estimated to register a CAGR of 13.10% during the forecast period of 2023 to 2032 and projected to grow at USD 23.6 Billion by 2032.

MRFR recognizes the following companies as the key players in the Market- Amonics Ltd., Apollo Instruments Inc., TRUMPF, Toptica Photonics AG., Quantel Group, Jenoptik Laser GmbH, IPG Photonics Corporation, CY Laser SRL, NKT Photonics A/S, Coherent Inc.

Global Industrial Lasers Market Overview:

Global Industrial Lasers industry is poised for substantial expansion and grow from USD 8.8 Billion in 2023 to USD 23.6 Billion by 2032 With a projected compound annual growth rate (CAGR) of 13.10% during the forecast period from 2023 to 2032.

A laser is a device that amplifies light by emitting radiation. Using molecules or atoms and stimulated emission, an industrial laser is a mechanical device that produces a clean beam of light from a medium of controlled shape, size, and purity. Industrial laser systems have been embraced by a number of end-user industries, including electronics, food and beverage manufacturing, semiconductors, sheet metal processing, automotive, and electronics. This is because these laser systems can be used for a variety of tasks, including welding, cutting, brazing, engraving, marking, labelling, and additive manufacturing.

The global industrial lasers market encompasses the production, sale, and application of lasers in various industrial sectors for cutting, welding, engraving, marking, and other precision processes. Industrial lasers are used in industries such as manufacturing, automotive, electronics, healthcare, aerospace, and more. They offer high precision, speed, and versatility in a wide range of applications, contributing to increased efficiency and quality in industrial processes.

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Industrial Lasers Market Segmentation

The industrial laser market is characterized by a diverse array of laser types, each tailored for specific processing needs. These types include macro processing lasers, designed for large-scale industrial applications such as cutting and welding of metals, and micro processing lasers, which are utilized for precision tasks like engraving, drilling, and micro-welding in industries like electronics and medical devices. The differentiation between macro and micro processing lasers reflects the varied requirements and capabilities within the industrial laser sector, catering to a wide range of manufacturing and processing needs.

In terms of power, industrial lasers are categorized based on their output capacity, with options including lasers with power ratings of less than 1 kW and those exceeding 1.1 kW. Power considerations are crucial as they directly impact the speed, precision, and efficiency of laser-based processes across various applications. Higher power lasers are typically employed in heavy-duty cutting and welding applications, whereas lower power lasers are suitable for finer, more intricate tasks such as marking and engraving.

The application of industrial lasers spans a multitude of industries and processes, including cutting, welding, non-metal processing (such as plastic and ceramics), additive manufacturing (3D printing), and various other specialized applications. Laser technology has revolutionized manufacturing processes by offering precise, efficient, and versatile solutions across a broad spectrum of materials and applications, driving innovation and productivity in industries ranging from automotive and aerospace to electronics and healthcare.

Geographically, the demand for industrial lasers is distributed across regions, with North America, Europe, Asia-Pacific, and the rest of the world representing key markets. Each region has its own industrial landscape, technological capabilities, and market dynamics, influencing the adoption and utilization of industrial laser technologies. Understanding regional preferences and requirements is crucial for stakeholders in the industrial laser industry to tailor their products and strategies to meet the specific needs of diverse markets worldwide.

Key Drivers:

Automated Manufacturing: The demand for automation and robotics in manufacturing processes drives the adoption of industrial lasers for precise and efficient operations.

Miniaturization: Industries like electronics and medical devices require high precision in small-scale manufacturing, where industrial lasers play a crucial role.

Material Processing: Industrial lasers are used for cutting, welding, engraving, and surface treatment of various materials including metals, plastics, ceramics, and composites.

Advancements in Laser Technology: Continuous advancements in laser technology, such as fiber lasers and ultrafast lasers, enhance performance and expand application possibilities.

Increased Demand for Customization: Industries are seeking ways to personalize products, and lasers enable intricate customization in various materials.

Industrial Lasers Key Market Players

Key Companies in the Industrial Lasers market include

Amonics Ltd.
Apollo Instruments Inc.
TRUMPF
Toptica Photonics AG.
Quantel Group
Jenoptik Laser GmbH
IPG Photonics Corporation
CY Laser SRL
NKT Photonics A/S
Coherent Inc

Market Restraints:

There are certain drawbacks to laser cutting, such as restrictions on material thickness, dangerous gases and fumes, excessive energy consumption, and upfront expenses. Given these, it is not surprising that demand may decline in the upcoming years, which may obstruct market expansion.

Regional Insights

In 2022, the worldwide market was led by North America (45.80%). Significant advancements in laser technology have been made possible by the government's increased investment in the US army. For welding, cutting, or military purposes, conventional lasers disperse high energy in brief bursts. In a pulse that lasts just one trillionth of a second, the new petawatt-class devices employed in military activities can produce 1 million billion watts of energy. Other than this, laser has many uses in the medical field given the expanding healthcare industry in North America.

Industrial Lasers Industry Developments

May 2022:

LW2 Laser Marking System by Gravotech: The availability of the LW2 laser marking system in various configurations based on the laser source, such as fiber or hybrid, demonstrates the industry's efforts to cater to diverse marking and identification requirements. The system's suitability for marking plastics and different metals indicates its versatility and potential applications across various industries.

April 2022:

FemtoBlade Laser System by Lumentum: The introduction of the FemtoBlade laser system as the second generation of high-precision, ultrafast industrial lasers highlights the continuous advancement of laser technology. The modular design of the system, emphasizing flexibility and processing speed while maintaining high power and repetition rates, reflects the industry's focus on improving efficiency and performance.