Industrial Lasers Market - Growth, Trends and Forecast (2020 - 2025)
The global industrial lasers market is expected to grow at a CAGR of 4.83% during the forecast period (2020 - 2025). The increasing adoption of laser processing in industries can be easily be attributed to factors such as automation, which allow computer and robot control without any human intervention. The use of industrial lasers in fiber optics has also provided access to previously inaccessible locations.
- With the government imposing regulations in regards to the reduction of the CO2 emissions, automobile manufacturers are moving towards technological innovations in lasers to achieve the targets and maintain symmetry with stringent rules imposed by the government.
- The increasing demand for high output power and small power is projected to spur the demand for fiber laser market. The high reliability on fiber laser is anticipated to drive the global industrial laser market.
Scope of the Report
Industrial laser marking offers high resolution, allowing the application of any type of barcode, even on rough surfaces. The optimized process also enables high contrast marking on a wide range of materials, including plastics and metals.
Key Market Trends
Laser Marking is Expected to Hold a Significant Market Share
- Laser lettering systems are used mostly in the production of consumer goods and industrial products as well as in the automobile industry, machinery, and plant assembly. It is even used for tool manufacturing. As laser technology has advanced characteristics, laser markers have become more precise and useful for an increasing number of professional applications.
- The industrial laser marking facilitates the customers to not only deal with counterfeits but also track and trace the entire product lifecycle. Laser marking machines provide the most efficient and finest marking that empower the customers to deal with product quality, safety, any regulatory or retailer compliance and many other essential aspects of production and manufacturing. Industrial laser marking can be done on a variety of products ranging from plastic products to metallic parts.
- Lasers have become an important part of the aircraft manufacturing process aiding to construct, weld and enhance aircraft. The increased expenditure in the Aerospace and Defense sector points towards a greater focus on maintenance.
Automotive is Expected to Have a Significant Market Share
- Laser for automobile industry facilitates engineers with a powerful, precision tool of the light, which has already made penetration across other sectors. Other automobile-centered technologies like hybrid electric engines, telematics, and GPRS, the laser tool points the growth in the demand.
- The simplicity of automotive laser instruments and using them into the processing chain reduces the production costs and renders detailed output. The laser tool tightly fits into the automotive engineer’s toolbox for it has long dominated other technologies in engraving, welding, marking and drilling. It outshines its rivals with great accuracy, efficiency, and production line security.
- Precise and uniform marks act as essential features for the automotive industry due to a consistency that it provides in traceability for security reasons. Presently laser marking, Laser for automobile industry help engineers with a powerful setup for fetching intelligent alphanumeric, data matrix codes, and serial numbers on all manner of materials along with the automotive production chain.
- It also provides precision cuts for a huge variety of materials that are being currently employed in the manufacture of automobiles. Laser technology reduces the component expenditure and assembly chain giving automakers an edge in a competitive global market. For new, intelligent and multifunctional materials, there is a need a high-precision tool like a laser for non-contact cutting.
The industrial lasers market is moderately competitive and consists of several major players. In terms of market share, none of the major players currently dominate the market. The manufacturers are focussing on the improvement of their product's efficiency by investing in research and development.
- March 2019 - Coherent Inc. has expanded its Gilching, Germany, micromachining and subsystem facility and completed the relocation of its laser marking group from nearby Gunding. Designated Coherent Munich, this location upgrades the organization’s applications and R&D capabilities.
- February 2019 - Coherent Inc. launches ExactCutTM First in a new series of precision laser machines. ExactCut systems combine the latest generation of pulsed fiber laser sources (300 W / 3 kW pulse peak), a high stability granite motion module, and a sophisticated human interface.
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- 1 INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
- 2 RESEARCH METHODOLOGY
- 3 EXECUTIVE SUMMARY
- 4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Introduction to Market Drivers and Restraints
- 4.3 Market Drivers
- 4.3.1 Enhanced Precision and Accuracy over Conventional Alternatives
- 4.3.2 Miniaturisation of Component Parts
- 4.4 Market Restraints
- 4.4.1 Regulation Compliance Associated with Laser Usage
- 4.5 Industry Attractiveness - Porter's Five Force Analysis
- 4.5.1 Threat of New Entrants
- 4.5.2 Bargaining Power of Buyers/Consumers
- 4.5.3 Bargaining Power of Suppliers
- 4.5.4 Threat of Substitute Products
- 4.5.5 Intensity of Competitive Rivalry
- 5 MARKET SEGMENTATION
- 5.1 By Application
- 5.1.1 Micro machining
- 5.1.2 Macro machining
- 5.1.3 Laser Marking
- 5.2 By End User
- 5.2.1 Aerospace & Defense
- 5.2.2 Automotive
- 5.2.3 Healthcare
- 5.2.4 Consumer Electronics
- 5.2.5 Other End-user Industries
- 5.3 Geography
- 5.3.1 North America
- 5.3.2 Europe
- 5.3.3 Asia Pacific
- 5.3.4 Latin America
- 5.3.5 Middle East and Africa
- 6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Fraunhofer IOF
- 6.1.2 Jack's Machine Company, Inc.
- 6.1.3 Clark-MXR, Inc.
- 6.1.4 Rofin-Sinar
- 6.1.5 IPG Photonics
- 6.1.6 MB Metal Technologies, Inc.
- 7 INVESTMENT ANALYSIS
- 8 MARKET OPPORTUNITIES AND FUTURE TRENDS