Global Industrial Laser Market: Size, Trends & Forecasts (2016-2020)
Scope of the Report
The report titled “Global Industrial Laser Market: Size, Trends & Forecasts (2016-2020)” provides an in-depth analysis of the global industrial laser market by value, market share by region as well as by players and division of market by product and by process.
The report provides a detailed description of industrial laser market divided on the basis of product and process. Market value of fibre lasers, CO2 lasers and solid-state lasers have provided with estimated value of these markets in 2016. Furthermore, a division of the market on process: macroprocessing, microprocessing and engraving/marking have also been provided in the report.
Regional analysis of Asia-Pacific, North America and China industrial laser market is also provided in the report covering market size for the forecasted period. The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global industrial laser market has also been forecasted for the period 2016-2020, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The competition in the global industrial laser market is dominated by major players like Trumpf Group, Coherent Inc., IPG Photonics and Han’s Laser Technology. A brief company profiling of these major players has been provided in the report on the basis of of attributes like business overview, financial overview and business strategies adopted by these companies in order to grow in the market.
Han’s Laser Technology
Powerful source of light which has extraordinary properties as compared to normal light sources like mercury lamps and tungsten lamps is known as laser. One of the unique properties of laser light is that its light travel very long distances with a very little deviation. Since the laser was invented 50 years ago, laser technology has transformed a wide range of applications and products in several major industries which includes large manufacturing industries, oil & gas industry, automobile, scientific research, medical and communication and many more industries.
Lasers deliver flexible, noncontact and high-speed ways to process and treat various materials. Laser technology provides superior performance and cost effective solution as compared to other non-laser technologies. On the basis of medium, laser is divided into four broad categories: solid laser, liquid laser, gas laser and semiconductor laser. Fibre laser is a type of solid laser which is taking place of conventional lasers like CO2 laser and semiconductor lasers.
The global industrial laser market has increased rapidly over the past few years and projections are made that the market would rise in the forecasted period i.e. 2016-2020 tremendously. The market is expected to grow on the back of increasing application of industrial laser in number of major industries like automobile, medical, research and growth of emerging economies. Yet the market faces some challenges which are major hindrances in its growth. These challenges are high initial cost of installation, several environment & health related issues associated with it and limited number of suppliers in the market.