Global Laser Market 2017-2021
Laser refers to light amplification by stimulated emission of radiation, which produces a coherent, collimated, and monochromatic beam of light by exciting atoms to a higher energy level. Lasers are distinguished from other light sources by their coherence. Spatial coherence property of laser enables it to stay narrow over great distances and allows it to be focused on a tight spot. As a result of these properties, they are widely used in applications such as laser pointers, laser cutting, and lithography. Lasers are classified based on the type of lasing medium they use such as gas, optical fiber, solid state, and semiconductor.
Technavio’s analysts forecast the global laser market to grow at a CAGR of 5.65% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global laser market for 2017-2021. To calculate the market size, the report includes the major application segments and their share in the global laser market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Laser Market 2017-2021
Technavio recognizes the following companies as the key players in the global laser market: Coherent, FANUC, Han’s Laser Technology, IPG Photonics, Jenoptik, Lumentum Operations, Newport, Photonics Industries International, ROFIN-SINAR Technologies, and TRUMPF.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is increasing rise in M&A. There has been a major change in the market landscape because of a series of M&A in the global laser market. The vendors in the market adopt M&A to acquire technological expertise and expand their geographical presence. The high growth potential of lasers across the industries has compelled vendors across the supply chain to acquire laser technology providers and hardware manufacturers to gain a competitive edge in the market. During 2011-2016, the collaborations among the supply chain members increased. This helped the vendors to expand their market presence and increase their market share.”
According to the report, one driver in market is investment in manufacturing plants worldwide. Lasers systems are used in manufacturing plants for cutting, engraving, welding, and marking of products. For instance, in the automotive industry, the laser systems are used for cutting airbag cloth and composite materials. They are also used in door welding and welding of gears and powertrain components. In the packaging industry, the lasers are used for marking of expiration dates and batch numbers on the end-product. Therefore, the investment in manufacturing plants globally will accelerate the demand for laser systems.
Further, the report states that one challenge in market is downturn in manufacturing industries. The sales of laser systems depend on the capital expenditure by manufacturers that incorporate laser systems in their manufacturing process. The slowdown in the automotive, photovoltaic, and semiconductor industries adversely affects the sales of laser systems. During an economic slowdown, the demand for end-products such as automobiles, consumer electronic devices, healthcare equipment, and aerospace and defense equipment tends to decrease. Such economic downturns adversely affect the profit margin of OEMs. Thus, the OEMs reduce their spending on capital equipment, thereby adversely affecting the sales of laser systems.
Coherent, FANUC, Han’s Laser Technology, IPG Photonics, Jenoptik, Lumentum Operations, Newport, Photonics Industries International, ROFIN-SINAR Technologies, TRUMPF.