Embedded Files
The global laser processing market size was valued at USD 17.48 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.1% from 2022 to 2030.
The market growth is attributed to the increased usage of lasers in medical devices and surgery applications. In addition, the rapid growth of nano-fabrication technology is expected to contribute to the growth of the global market. Furthermore, the manufacturing sector has increased the adoption of laser technology for processing the material due to many advantages over traditional material processing, which is expected to be one of the major factors driving the market.
For example, the traditional manual metal arc welding method is used to cause high potential environmental impacts. This was a hot issue that was solved by adopting laser technology in the car industry. For instance, in July 2021, Furukawa Electric launched an Industrial fiber laser. This machine has a 12kw fiber laser system used to weld the car bodies and their parts, including the aluminum process, battery welding, and motors.
Gather more insights about the market drivers, restrains and growth of the Laser Processing Market
Laser Processing Market Report Highlights
• Based on product, fiber lasers are projected to exhibit the fastest CAGR of 10.0% from 2022 to 2030 as they are widely used across several end-use industries and are highly cost-effective compared to the other products
• By process, the material processing segment is expected to expand at the fastest CAGR of 9.4% over the forecast period. This can be accredited to the ability of lasers to perform high-speed and accurate industrial processes
• The Asia Pacific region is expected to expand at the fastest CAGR of 9.7% from 2022 to 2030 owing to the rising number of OEMs in this region
• Industry participants focus on technological advancements and innovation to capture a large market share
Browse through Grand View Research's Electronic Devices Industry Research Reports.
• The global LED modular display market was valued at USD 7.53 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 13.7% from 2024 to 2030.
• The global dual screen laptops market size was valued at USD 2.65 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 3.6% from 2024 to 2030.
Laser Processing Market Segmentation
Grand View Research has segmented the global laser processing market report based on product, process, application, and region:
Product Outlook (Revenue, USD Million, 2017 - 2030)
• Gas
• Solid-state
• Fiber
• Others
Process Outlook (Revenue, USD Million, 2017 - 2030)
• Material Processing
• Marking and Engraving
• Micro-Processing
Application Outlook (Revenue, USD Million, 2017 - 2030)
• Automotive
• Aerospace
• Machine Tools
• Electronics and Microelectronics
• Medical
• Packaging
Regional Outlook (Revenue, USD Million, 2017 - 2030)
• North America
o U.S.
o Canada
• Europe
o Germany
o U.K.
o France
• Asia Pacific
o China
o India
o Japan
• Latin America
o Brazil
o Mexico
• Middle East & Africa (MEA)
Order a free sample PDF of the Laser Processing Market Intelligence Study, published by Grand View Research.
Page updated
Google Sites
Report abuse