NEW YORK, Dec. 17, 2021 /PRNewswire/ — The “Laser Processing Market by Type and Geography – Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The potential growth difference for the laser processing market between 2021 and 2026 is USD 2.45 billion. The report also identifies the market to register an accelerating growth momentum at a CAGR of 8.41% during the forecast period. Factors influencing the market growth positively and adversely are also covered in this report.
To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
Key Market Dynamics:
- Market Drivers
The growing benefits of laser welding over conventional welding is notably driving the laser processing market growth. Laser welding offers several technical advantages, such as deep narrow welds, minimal distortion, and ease of automation, over conventional welding procedures. One of the key advantages of laser welding is its ability to automate the welding process, which helps in increasing the overall production rates. In addition, other factors including the growing investments in the aerospace and defense industry and surging adoption of solid state laser processing will also fuel the overall market’s growth during the forecast period.
- Market Challenges
The availability of alternate machine tools for metal cutting applications will challenge market growth. The use of waterjet cutting machines to cut a wide range of materials and produce high-quality cuts makes it the preferred profiling method in end-user industries. However, the excessive heat generated during the cutting process in laser and plasma cutting machines limits their application for materials that are reflective, conductive, heat-resistant, or heat-sensitive. In addition, other factors such as increased demand for refurbished laser cutting machines and stringent regulatory standards pertaining to laser processing are also likely to hinder the market growth.
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Key Market Segment Dynamics:
Type
The laser processing market report is segmented by Type in gas, solid-state, and others. The gas segment held the largest laser processing market share in 2021 and will continue to retain its market dominance throughout the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the laser processing market size and actionable market insights on other type segments enabling clients to make informed business decisions.
Geography
In terms of Geography, the market is segmented by North America, Europe, APAC, MEA, and South America. North America will be the leading region with 36% of the market’s growth during the forecast period. The US is the key market for laser processing in North America. Market growth in this region will be faster than the growth of the market in the South American and MEA regions. Manufacturers in the US and local governments are increasingly focused on improving the technical skills of the workforce to ensure that automation and robotics technologies are seamlessly incorporated. As workforce skills improve, more automotive players are expected to invest in robotics laser processing machines for enhancing productivity and efficiency.
View our sample report for additional insights into the contribution of all the segments and regional opportunities
Key Market Vendor Analysis:
The laser processing market is fragmented and the vendors are deploying growth strategies such as forming strategic partnerships to compete in the market. Vendors are engaging in strategic partnerships and acquisitions to strengthen their foothold in the market. For instance, In January 2021, Coherent Inc. announced a partnership with Lumentum for uniting global industry leaders to accelerate the future of photonics.
Some other Companies Covered in this Report include:
- Coherent Inc.
- Epilog Corp.
- Gravotech Engineering Pvt Ltd
- Hans Laser Technology Industry Group Co. Ltd.
- IPG Photonics Corp.
- Jenoptik AG
- Laserstar Technologies Corp.
- Lumentum Holdings Inc.
- LUMIBIRD
- TRUMPF GmbH + Co. KG
- To gain access to more vendor profiles with their key offerings available with Technavio, Click Here
Related Reports:
- Coherent Inc.
- Epilog Corp.
- Gravotech Engineering Pvt Ltd
- Hans Laser Technology Industry Group Co. Ltd.
- IPG Photonics Corp.
- Jenoptik AG
- Laserstar Technologies Corp.
- Lumentum Holdings Inc.
- LUMIBIRD
- TRUMPF GmbH + Co. KG
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Key Topics Covered:
Laser Processing Market Scope
Report Coverage
Details
Page number
120
Base year
2021
Forecast period
2022-2026
Growth momentum & CAGR
Accelerate at a CAGR of 8.41%
Market growth 2022-2026
USD 2.45 billion
Market structure
Fragmented
YoY growth (%)
6.97
Regional analysis
North America, Europe, APAC, MEA, and South America
Performing market contribution
North America at 36%
Key consumer countries
US, Germany, China, France, and Japan
Competitive landscape
Leading companies, competitive strategies, consumer engagement scope
Companies profiled
Coherent Inc., Epilog Corp., Gravotech Engineering Pvt Ltd, Hans Laser Technology Industry Group Co. Ltd., IPG Photonics Corp., Jenoptik AG, Laserstar Technologies Corp., Lumentum Holdings Inc., LUMIBIRD, and TRUMPF GmbH + Co. KG
Market Dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation by Type
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
- Appendix
About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email:[email protected]Website: www.technavio.com/
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