The Global Industrial Lasers Systems Market size is expected to reach $29.4 billion by 2028, rising at a market growth of 7.7% CAGR during the forecast period.
Cutting metals and fabrics, marking tracking codes for industrial traceability, welding metals with high precision, cleaning metal surfaces, changing surface roughness, and measuring part dimensions are all done with industrial lasers. It is frequently used in a variety of industries, including electric vehicles and primary metals. Many industrial applications could get the benefits from the usage of a laser.
The term "laser" refers to the process of amplifying light by emitting radiation. An industrial laser is a mechanical device that uses molecules or atoms and stimulated emission to produce a clean beam of light from a medium of controlled form, size, and purity. Electronics, semiconductors, automotive, sheet metal processing, food & beverage, and medical industries have all used industrial laser systems.
Industrial lasers are high-energy light sources with a single wavelength. It is mechanical tools that emit a light beam with controlled purity, size, and shape using atoms, molecules, and stimulated emissions. There are three kinds of lasers used in the industries i.e., monochromatic, unidirectional, and coherent lasers. Fiber, diode, carbon dioxide, and solid-state lasers are some of the most regularly utilized industrial lasers. It includes a gain medium, energy source, and mirrors to amplify the protons, as well as a controller, filter, rotational device, and galvanometer.
The Industrial Lasers Systems Market has grown because of the increasing trend of automation in industries for high efficiency, better productivity, and accuracy. Because of the increased necessity of high precision laser systems for diverse applications on various materials, the market for laser systems is likely to grow rapidly. Additionally, the rise in demand for material processing in various industries such as aerospace, automotive, industrial machinery, electronics, and construction is propelling the growth of the Industrial Lasers Systems Market. In addition, the transition in the automobile industry toward electric vehicles is creating demand for industrial laser systems.
Due to country-wide lockdowns and delays in production and manufacturing of industrial lasers systems used in cutting, non-metal processing, welding, and other industries, the COVID 19 outbreak has hampered the growth of the industrial lasers systems market. Owing to the virus's highly contagious nature, industries with labor-intensive operations, such as manufacturing units, are particularly hard hit in the current circumstances. As a result, the manufacturing industry as a whole, and individual industrial units, in particular, are badly impacted. Manufacturing is the backbone of every economy on the planet. COVID's indirect and second-degree impacts, in addition to its direct impact, are having a greater impact on operations. For the manufacturing industry, these impacts and different aspects of labor, governance, capital, policy, and macroeconomics are examined.
The industrial lasers market is being driven by increased demand for material processing across a variety of applications, including industrial machinery, automotive, aerospace, and construction. The growing use of laser systems for material processing, due to a variety of advantages such as increased flexibility, productivity, and efficiency, is expected to drive up demand for industrial laser sources in the market. The increase in demand for welding applications can be attributed to the growing number of automotive applications.
Because of the benefits of additive manufacturing, including customization, enhanced efficiency, and shorter Time-To-Market, laser producers are seeing increased profitability. Moreover, 3D printing is becoming more popular as the demand for high efficiency, waste reduction, customization, lower costs, and fewer errors grows. The use of 3D printing in machine tool components via selective laser melting and laser metal deposition would create demand for industrial lasers. The growing demand for process optimization is projected to fuel the growth of the additive manufacturing industry. The fiber laser has a high peak power and Nanosensor pulses, making engraving and marking more efficient. At quicker cutting rates, the fiber laser also produces smoother cut edges.
One of the benefits of laser cutting is that it can cut a variety of materials. Simultaneously, the thermal cutting procedure causes the material to melt, resulting in produced gases and potentially toxic fumes, especially during the process of cutting plastic. As a result, for a safe working environment, a good, ventilation system is required. Because Laser-Generated Air Contaminants are emitted during the cutting or engraving process, laser beams are dangerous. Class 3B or 4 lasers are commonly associated with harmful emissions. When a laser beam interacts with various materials, chemical vapors, aerosols, or smoke can be emitted.
Based on Type, the market is segmented into Macro processing and Micro processing. The Macro-processing segment acquired the highest revenue share in the Industrial Lasers Systems Market in 2021. This is due to the use of a macro-processing laser system in the computer-based generation of high-quality photographs. Metals, ceramics, and polymers are just a few of the delicate and complicated materials that can be marked.
Based on Power, the market is segmented into More than 1.1 kW and Less than 1 kW. Less than 1kW segment garnered a significant revenue share in the Industrial Lasers Systems Market in 2021. The increasing growth of this segment is owing to the rising utilization of this equipment in small and medium facilities. The operations under these facilities are smaller and require lesser power. In addition, with the lower availability of a high budget for increased power consumption, the employment of industrial lasers with lesser than 1kW power is increasing.
Based on Application, the market is segmented into Cutting, Welding, Non-metal processing, Additive manufacturing, and Others. The cutting segment acquired the highest revenue share in the Industrial Lasers Systems Market in 2021. The increased use cutting steel or other metals is causing it to grow at a faster rate. Steel materials are frequently exceedingly thick, necessitating high-powered cutting techniques. This means that CO2 lasers are typically used to cut them because it in addition can produce higher-power cuts than other lasers. As a result, the growing use of this equipment for heavy-duty cutting is boosting the segment's growth.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 17.8 Billion |
| Market size forecast in 2028 | USD 29.4 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 7.7% from 2022 to 2028 |
| Number of Pages | 207 |
| Number of Tables | 354 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, Power, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia-Pacific emerged as the leading region in the Industrial Lasers Systems Market with largest revenue share in 2021. Fiber laser systems have been adopted in a variety of industries, including metal processing, machinery manufacture, medical, and defence. Additionally, in this region, low labour costs, low production costs, and high adoption of material processing applications drive the Industrial Lasers Systems Market.
Free Valuable Insights: Global Industrial Lasers Systems Market size to reach USD 29.4 Billion by 2028
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; TRUMPF GmbH + Co. KG and IPG Photonics Corporation are the forerunners in the Industrial Lasers Systems Market. Companies such as LUMIBIRD, Jenoptik AG, NKT Photonics A/S are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Coherent, Inc., NKT Photonics A/S (NKT A/S), IPG Photonics Corporation, Jenoptik AG, TRUMPF GmbH + Co. KG, LUMIBIRD, Amonics Ltd., Apollo Instruments Inc., CY Laser SRL, and TOPTICA Photonics AG.
By Type
By Power
By Application
By Geography
The industrial lasers systems market size is projected to reach USD 29.4 billion by 2028.
Growing demand for material processing are increasing are driving the market in coming years, however, emission of dangerous gases during melting process growth of the market.
Coherent, Inc., NKT Photonics A/S (NKT A/S), IPG Photonics Corporation, Jenoptik AG, TRUMPF GmbH + Co. KG, LUMIBIRD, Amonics Ltd., Apollo Instruments Inc., CY Laser SRL, and TOPTICA Photonics AG.
The expected CAGR of the industrial lasers systems market is 7.7% from 2022 to 2028.
The More than 1.1 kW segment acquired maximum revenue share in the Global Industrial Lasers Systems Market by Power 2021, thereby, achieving a market value of $18.5 billion by 2028.
The Asia Pacific market dominated the Global Industrial Lasers Systems Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $10.4 billion by 2028.
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