The Business Research Company’s report on the Laser Processing Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How have key drivers contributed to the rapid growth of the laser processing market?
The increasing applications of lasers in medical devices and surgeries are significantly contributing to the growth of the laser processing market. Medical lasers are utilized in medical procedures in various specialties, including ophthalmology, dermatology, plastic surgery, and dental surgeries, as well as in intraabdominal, cardiothoracic, neurologic, gynecologic, and urologic procedures. Lasers facilitate a source of focused, coherent light capable of transmitting intense energy to a precise location. For instance, in 2022, according to a report published by Biospace, an online source for biotechnology jobs, cataract statistics in the U.K., 330,000 cataract operations are conducted every year in the country. Therefore, the increasing usage of laser in medical devices and surgeries is expected to boost the demand for laser processing market during the forecast period.
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How has the laser processing market size evolved, and what are the latest forecasts for its expansion?
The laser processing market size has grown rapidly in recent years. It will grow from $20.14 billion in 2024 to $22.21 billion in 2025 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to increased adoption of laser technology in manufacturing processes, demand for high-precision and non-contact material processing, growth in industries such as automotive, electronics, and medical devices, need for efficient and cost-effective manufacturing solutions, stringent quality and precision requirements in manufacturing.
The laser processing market size is expected to see rapid growth in the next few years. It will grow to $33.97 billion in 2029 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to adoption of ultrafast and high-power lasers for advanced materials processing, integration of laser technology in semiconductor and electronics production, rising demand for laser cutting and welding in aerospace and defense, focus on miniaturization and microfabrication in electronics industry, expansion of laser processing in medical and healthcare applications. Major trends in the forecast period include fiber laser technology dominance, hybrid laser processing (laser and cnc machining), ultrafast lasers for precision micromachining, laser-based surface treatment and coating, laser cleaning and de-coating processes.
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Which major companies dominate the laser processing market?
Major companies operating in the laser processing market include Coherent Inc., TRUMPF Inc., Han’s Laser Technology Industry Group Co. Ltd., IPG Photonics Corporation, Jenoptik AG, Rofin-Sinar Technologies Inc., Bystronic Laser AG, Prima Power Group, Amada Miyachi America Inc., Mitsubishi Electric Corporation, nLIGHT Inc., Lumentum Holdings Inc., SPI Lasers UK Ltd., Ekspla, FANUC Corporation, II-VI Incorporated, Trotec Laser GmbH, LaserStar Technologies Corporation, NKT Photonics A/S, Cutera Inc., MKS Instruments Inc., Laserline GmbH, Convergent Photonics Corporation, ALPHA LASER GmbH, Photonics Industries International Inc., Cy-laser s.r.l., Lumibird Medical
What trends will shape the future of the large suvs market?
Major companies operating in the laser processing market are focusing on remote monitoring technologies such as mobile connectivity. Mobile connectivity in the laser systems allows users to remotely monitor and control system settings via a smartphone app, enhancing convenience and operational flexibility. For instance, in May 2024, Laser Photonics Corporation (LPC), a US-based machine industry company, launched its next-generation CleanTech laser cleaning systems, designed for cleaning, finishing, roughening, and surface preparation. This updated series features mobile connectivity for remote monitoring, a compact scan head for easier handling, and smart overheat protection that halts operations if temperatures exceed 122°F (50°C). Additionally, a smartphone app allows users to control settings conveniently. LPC’s new CleanTech systems enhance usability and safety, catering to a diverse range of clients, from small businesses to large manufacturers and government entities, while providing precise and efficient surface cleaning solutions.
Which region dominates the laser processing market, and what factors contribute to its leadership?
Asia-Pacific was the largest region in the laser processing market in 2024, and it is also expected to be the fastest-growing region in the laser processing market share during the forecast period. The regions covered in the laser processing market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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How is the laser processing market segmented, and which segment holds the largest share?
The laser processing market covered in this report is segmented –
1) By Type: Gas Laser, Liquid Laser, Solid Laser, Other Types
2) By Application: Cutting, Welding, Drilling, Microprocessing, Marking and Engraving, Other Applications
3) By End-Use Industry: Aerospace and Defense, Automotive, Healthcare, Machine Tools, Architecture, Electronics and Microelectronics, Other End User Industries
Subsegments:
1) By Gas Laser: Carbon Dioxide (CO2) Lasers, Helium-Neon (He-Ne) Lasers, Argon Lasers
2) By Liquid Laser: Dye Lasers, Tunable Lasers
3) By Solid Laser: Neodymium (Nd) Lasers, Yttrium Aluminum Garnet (YAG) Lasers, Fiber Lasers
4) By Other Types: Semiconductor Lasers, Excimer Lasers, Fiber-Optic Lasers
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How is the laser processing market defined, and what are its core characteristics?
Laser processing refers to the use of laser technology to perform various manufacturing and fabrication tasks. This technique utilizes focused laser beams to precisely alter or remove material, offering high accuracy, speed, and versatility across a range of materials such as metals, plastics, wood, and glass.
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