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Global Laser Processing Market to Grow at a CAGR of 8.1% During 2024-2032, Aided by the Growing Adoption of Laser Drilling Technique in the Aerospace and Oil and Gas Industry

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Laser Processing Market

Global Laser Processing Market Size, Share, Growth, Forecast: By Product: Gas Lasers, Solid-state Lasers, Fibre Lasers; By Applications: Automotive, Aerospace, Machine Tools, Electronics and Microelectronics, Medical, Packaging; Regional Analysis; Market Dynamics; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032

Global Laser Processing Market Outlook

The global laser processing market size attained a value of approximately USD 4.34 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 8.1% to reach a value of USD 8.77 billion by 2032.

 

Lasers are increasingly being used for material processing due to the advantages they provide over conventional techniques. With the growing demand for downsizing of microelectronics, laser cutting is becoming more widespread, favourably impacting the laser processing market worldwide. The level of precision in laser processing is incredibly high when compared to conventional cutting techniques. This is due to the fact that the laser beam does not deteriorate while cutting, thereby producing a steady, distortion-free cut.

 

As per the laser processing market report, lasers are widely used to treat cancers of the skin, eyes, and hair. Numerous therapies, such as artery cleaning, surgery for detached retinas, and other cosmetic procedures, are made more accessible with laser technology. The method can also be used to treat other skin conditions, skin flaws, and persistent birthmarks.

 

Global Laser Processing Market

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For processing medical items like implants and surgical instruments, lasers are employed in hospitals and pharmacies. Additionally, it is anticipated that the development of nanofabrication technology will aid in the expansion of the global laser processing market size. Due to the technology's widespread use in a variety of applications, including welding, marking, cutting, drilling, and engraving, the market is expected to experience rapid expansion over the coming years, supporting the laser processing market price.

 

Global Laser Processing Market Share

According to the laser processing market forecast, the gas lasers segment based on product accounts for a significant share in the market owing to the various advantages they offer. These advantages include high coherence strength, stable central wavelength, high spectral purity, and good quality of beam and alignment, among others.

 

In addition, gas lasers are cost-effective and easily available. Over the forecast period, helium-neon (HeNe) lasers are likely to gain traction due to their reliability and high range. Furthermore, there are less-known alternatives to gas lasers, which is a major factor driving the market.

 

Asia Pacific Accounts for a Significant Share in the Laser Processing Market

As per the laser processing market share forecast, laser processing in Asia Pacific is driven by the thriving automotive, aerospace, and medical industry, among others. Emerging economies such as China, India, and others are likely to witness a significant penetration of laser technology. Meanwhile, developed economies such as Singapore, Japan, and South Korea, among others have made huge investments in laser technology due to their increasing efforts to modernise the existing infrastructure and the growing automation across the industries in the region.

 

The laser processing market Europe is expected to witness significant growth over the forecast period, driven by the increasing usage of lasers in medical applications and advancements in technology for nanofabrication. In North America, the regional market is supported by the laser processing market US, due to the presence of multiple key market players in the United States.

 

Laser Processing Market Segmentation

Laser processing is defined as a process in which lasers are applied to carry out various industrial or commercial tasks. These tasks can include laser annealing, cutting, drilling, engraving, machining, marking, and perforating, among others.

 

Global Laser Processing Market

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Based on product, the market is segmented into:

  • Gas Lasers
  • Solid-state Lasers
  • Fibre Lasers

 

The major applications of laser processing include:

  • Automotive
  • Aerospace
  • Machine Tools
  • Electronics and Microelectronics
  • Medical
  • Packaging

 

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Rising Applications of Laser Processing in the Automotive Sector to Boost the Growth of the Laser Processing Market

The rising applications of laser processing in the automotive industry is increasing the laser processing market share. This can be attributed to the rising demand for high-power carbon dioxide lasers for wielding automotive components. In addition to this, the increasing inclination of automobile manufacturers towards implementing laser wielding sheet assemblies as a replacement for resistance spot welding is likely to be a major driving factor in the market. Furthermore, the growing demand for laser processing in the packaging market owing to the global increase in e-commerce activities are expected to be one of the key laser processing market trends in the forecast period.

 

Global Laser Processing Market

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Key Players in the Global Laser Processing Market

The report gives a detailed analysis of the following key players in the global laser processing market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

 

  • TRUMPF Inc.
  • Photonics Industries International, Inc.
  • Amada Co. Ltd.
  • Coherent, Inc.
  • Jenoptik Group
  • LUMIBIRD
  • IPG Photonics Corporation
  • Universal Laser Systems, Inc
  • Prima Industrie S.p.A.
  • GF Machining Solutions Management SA
  • Han's Laser Technology Industry Group Co., Ltd,
  • Epilog Corporation
  • Bystronic Group
  • Needham Group
  • Gravotech Marking
  • LaserStar Technologies
  • Others

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product
  • Applications
  • Region
Breakup by Product
  • Gas Lasers
  • Solid-state Lasers
  • Fibre Lasers
Breakup by Applications
  • Automotive
  • Aerospace
  • Machine Tools
  • Electronics and Microelectronics
  • Medical
  • Packaging
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • TRUMPF Inc.
  • Photonics Industries International, Inc.
  • Amada Co. Ltd.
  • Coherent, Inc.
  • Jenoptik Group
  • LUMIBIRD
  • IPG Photonics Corporation
  • Universal Laser Systems, Inc
  • Prima Industrie S.p.A.
  • GF Machining Solutions Management SA
  • Han's Laser Technology Industry Group Co., Ltd,
  • Epilog Corporation
  • Bystronic Group
  • Needham Group
  • Gravotech Marking
  • LaserStar Technologies
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Laser Processing Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Laser Processing Historical Market (2018-2023) 
    8.3    Global Laser Processing Market Forecast (2024-2032)
    8.4    Global Laser Processing Market by Product
        8.4.1    Gas Lasers
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Solid-state Lasers
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Fibre Lasers
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
    8.5    Global Laser Processing Market by Applications
        8.5.1    Automotive
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Aerospace
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Machine Tools
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Electronics and Microelectronics
            8.5.4.1    Historical Trend (2018-2023)
            8.5.4.2    Forecast Trend (2024-2032)
        8.5.5    Medical
            8.5.5.1    Historical Trend (2018-2023)
            8.5.5.2    Forecast Trend (2024-2032)
        8.5.6    Packaging
            8.5.6.1    Historical Trend (2018-2023)
            8.5.6.2    Forecast Trend (2024-2032)
    8.6    Global Laser Processing Market by Region       
        8.6.1    North America
            8.6.1.1    Historical Trend (2018-2023) 
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Europe
            8.6.2.1    Historical Trend (2018-2023) 
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Asia Pacific
            8.6.3.1    Historical Trend (2018-2023) 
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Latin America
            8.6.4.1    Historical Trend (2018-2023) 
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Middle East and Africa
            8.6.5.1    Historical Trend (2018-2023) 
            8.6.5.2    Forecast Trend (2024-2032)
9    North America Laser Processing  Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Laser Processing Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Laser Processing  Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Laser Processing Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Laser Processing Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    TRUMPF Inc.
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Photonics Industries International, Inc.
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Amada Co. Ltd.
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Coherent, Inc.
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Jenoptik Group
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    LUMIBIRD
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    IPG Photonics Corporation
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Universal Laser Systems, Inc
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    Prima Industrie S.p.A.
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10    GF Machining Solutions Management SA
            15.2.10.1    Company Overview
            15.2.10.2    Product Portfolio
            15.2.10.3    Demographic Reach and Achievements
            15.2.10.4    Certifications
        15.2.11    Han's Laser Technology Industry Group Co., Ltd,
            15.2.11.1    Company Overview
            15.2.11.2    Product Portfolio
            15.2.11.3    Demographic Reach and Achievements
            15.2.11.4    Certifications
        15.2.12    Epilog Corporation
            15.2.12.1    Company Overview
            15.2.12.2    Product Portfolio
            15.2.12.3    Demographic Reach and Achievements
            15.2.12.4    Certifications
        15.2.13    Bystronic Group
            15.2.13.1    Company Overview
            15.2.13.2    Product Portfolio
            15.2.13.3    Demographic Reach and Achievements
            15.2.13.4    Certifications
        15.2.14    Needham Group
            15.2.14.1    Company Overview
            15.2.14.2    Product Portfolio
            15.2.14.3    Demographic Reach and Achievements
            15.2.14.4    Certifications
        15.2.15    Gravotech Marking
            15.2.15.1    Company Overview
            15.2.15.2    Product Portfolio
            15.2.15.3    Demographic Reach and Achievements
            15.2.15.4    Certifications
        15.2.16    LaserStar Technologies
            15.2.16.1    Company Overview
            15.2.16.2    Product Portfolio
            15.2.16.3    Demographic Reach and Achievements
            15.2.16.4    Certifications
        15.2.17    Others
16    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Laser Processing Market: Key Industry Highlights, 2018 and 2032
2.    Global Laser Processing Historical Market: Breakup by Product (USD Billion), 2018-2023
3.    Global Laser Processing Market Forecast: Breakup by Product (USD Billion), 2024-2032
4.    Global Laser Processing Historical Market: Breakup by Application (USD Billion), 2018-2023
5.    Global Laser Processing Market Forecast: Breakup by Application (USD Billion), 2024-2032
6.    Global Laser Processing Historical Market: Breakup by Region (USD Billion), 2018-2023
7.    Global Laser Processing Market Forecast: Breakup by Region (USD Billion), 2024-2032
8.    North America Laser Processing Historical Market: Breakup by Country (USD Billion), 2018-2023
9.    North America Laser Processing Market Forecast: Breakup by Country (USD Billion), 2024-2032
10.    Europe Laser Processing Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    Europe Laser Processing Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Asia Pacific Laser Processing Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Asia Pacific Laser Processing Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Latin America Laser Processing Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Latin America Laser Processing Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Middle East and Africa Laser Processing Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Middle East and Africa Laser Processing Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Global Laser Processing Market Structure

Key Questions Answered in the Report

What was the global laser processing market size in 2023?

In 2023, the global market for laser processing attained a value of USD 4.34 billion.

What is the growth rate of the global laser processing market?

The market is estimated to grow at a CAGR of 8.1% between 2024 and 2032.

What is the forecast outlook of the market for 2024-2032?

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 8.77 billion by 2032.

What are the major regional markets of laser processing, according to the EMR report?

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the major drivers of the market?

The major drivers of the market are the rising applications of laser processing in various industries including automotive, medical, and packaging, increasing focus on improving production efficiency across various operations, and rapid urbanisation particularly in emerging economies.

What are the key trends of the global laser processing market?

The key market trends guiding the growth of the market include the increasing technological advancements and rising investments in research and development activities to increase efficiency in industrial applications.

What are the major products in the market?

Gas lasers, solid-state lasers, and fibre lasers are the major products in the market.

What are the different applications of laser processing?

Automotive, aerospace, machine tools, electronics and microelectronics, medical, and packaging are the different laser processing applications.

Who are the key market players, according to the report?

The major players in the global laser processing market are TRUMPF Inc., Photonics Industries International, Inc., Amada Co. Ltd., Coherent, Inc., Jenoptik Group, LUMIBIRD, IPG Photonics Corporation, Universal Laser Systems, Inc, Prima Industrie S.p.A., GF Machining Solutions Management SA, Han's Laser Technology Industry Group Co., Ltd, Epilog Corporation, Bystronic Group, Needham Group, Gravotech Marking, and LaserStar Technologies, among others.

Analyst Review

The global laser processing market attained a value of USD 4.34 billion in 2023, driven by the thriving automotive sector. Aided by the rapid technological advancements, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 8.1%. The market is projected to reach a value of USD 8.77 billion by 2032.

 

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the market. Based on product, the market is segmented into gas lasers, solid-state lasers, and fibre lasers. On the basis of application, the market is divided into automotive, aerospace, machine tools, electronics and microelectronics, medical, and packaging. The major regional markets for laser processing are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include TRUMPF Inc., Photonics Industries International, Inc., Amada Co. Ltd., Coherent, Inc., Jenoptik Group, LUMIBIRD, IPG Photonics Corporation, Universal Laser Systems, Inc, Prima Industrie S.p.A., GF Machining Solutions Management SA, Han's Laser Technology Industry Group Co., Ltd, Epilog Corporation, Bystronic Group, Needham Group, Gravotech Marking, and LaserStar Technologies, among others.

 

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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