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Laser Processor Market by Product (Gas Lasers, Solid State Lasers, Fiber Lasers)
Recent market analysis reveals that global sales in the Laser Processor Market in 2021 were valued at US$ 17.5 billion.
With an 8.1 % projected CAGR from 2022 to 2032, the market is expected to reach a valuation of US$ 41.5 billion by the end of this forecast period. The gas laser processors are expected to be a significant revenue-generating product and are projected to grow at a CAGR of over 8.0 % through 2032.
Laser processors are a type of industrial equipment that can be leveraged to perform a range of precision manufacturing processes. These include including cutting, welding, engraving, drilling, and marking.
Laser processors are often used in automated manufacturing processes and can be easily integrated into production lines. They offer several advantages over traditional manufacturing processes.
A few of these would be high precision, speed, and versatility. Its versatility can be showcased by the fact that it finds extensive use in a wide range of industries, including aerospace, automotive, electronics, medical devices, and jewellery.
Laser processing has become an essential part of automobile manufacturing due to its precision and accuracy in cutting, welding, and marking various components of a vehicle. This process ensures a high level of quality, resulting in better fit and finish of the parts.
Laser drilling can be used to create precisely measured cuts or spaces. It finds crucial use in high-performance brakes and transmission manufacturing for vehicles.
This process ensures accurate placement and size of the holes, which is critical for the functionality of the parts. Laser processing has become an integral part of automobile manufacturing. Its importance is only expected to grow with time, as major automobile manufacturers adopt increasingly advanced laser processing technologies.
Laser processing is widely used for precision welding and cutting in the manufacturing of cars. This means that a rise in the number of cars produced in the world would directly correlate to the demand for laser processors. This is a key factor anticipated to help market expansion.
| Attributes | Details |
|---|---|
|
Laser Processor Market Size (2022) |
US$ 19.1 Billion |
|
Laser Processor Market Size (2032) |
US$ 41.5 Billion |
|
Laser Processor Market CAGR (2017 to 2021) |
9.0% |
|
USA Laser Processor Market CAGR (2022 to 2032) |
6.9 % |
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As per Persistence Market Research (PMR) historically, from 2017 to 2021, the value of the laser processor market increased by around 9.0 % CAGR during 2017 to 2021. With an absolute dollar opportunity of US$ 22.5 Billion during the forecast period, the market is projected to reach a US$ 41.5 Billion valuation by 2032.
Laser processors are widely used in precision manufacturing applications, such as cutting, welding, and marking, due to their high adherence to quality. As automation is becoming increasingly common in manufacturing processes, laser processors have become an integral part of automated production lines.
Many industries, including electronics and medical devices, require increasingly small components, and laser processors are an ideal tool for achieving this level of miniaturization.
Laser cutting can be used to precisely cut and shape printed circuit boards (PCBs), which are used in a range of electronic devices. The use of lasers ensures precise cuts without damaging the surrounding components.
Laser processing has become an essential part of electronics manufacturing, improving the precision, efficiency, and quality of manufacturing processes. Laser welding can also be used to join various components in electronic devices, such as battery cells and microelectronics. This process ensures high accuracy and avoids damage to the surrounding material.
Laser processors are also often considered more environmentally friendly than traditional manufacturing methods, as they generate less waste and consume less energy. Therefore, the laser processor industry is projected to grow as these factors drive increased adoption across a range of industries.
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Asia Pacific laser processor industry reached a size of US$ 8.4 billion in 2021 and US$ 9.2 billion in 2022. Asia Pacific will have a laser processor industry worth US$ 20 billion in 2032.
The historical CAGR between 2017 and 2021 was 52%. The forecasted CAGR till 2032 is expected to be 48.3%.
Asia Pacific is expected to witness high demand for laser processors due to the rapid growth of several manufacturing industries, including automotive, electronics, and aerospace. Countries such as China, Japan, South Korea, and India are projected to be significant contributors to the growth of the expansion of the laser processor industry in the region.
In 2021, China produced around 2.1 million passenger cars with Japan and India producing 660,000 and 360,000 cars respectively. With the increase in the production of cars in the region, the demand for laser processing is projected to increase as well. This puts Asia Pacific in a prime position to benefit from growth in the laser processing market.
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Why is the Demand for Laser Processors Surging in the United States of America?
The laser processor industry in the United States of America is expected to grow to be worth US$ 6.5 billion with an absolute dollar growth of US$ 3.2 billion till 2032. The laser processor industry in the United States of America has grown at a CAGR of 5.8% from 2017 to 2021 and is expected to grow at a CAGR of 6.9% from 2022 to 2032.
In 2020, there were around 8.8 million cars produced in the United States of America, which rose to around 9.1 million cars in the year 2021. Laser processing has become an essential part of automobile manufacturing due to its precision and accuracy in cutting, welding, and other vehicle manufacturing stages.
Laser cutting and welding can be used to cut and weld various aftermarket body parts of a vehicle, including doors, hoods, and fenders. This process ensures a high level of precision and accuracy, resulting in a better fit and finish of the parts.
With the increase in the number of cars in the country, the demand for laser processors is also projected to expand increasing the market in the country during the assessment period.
Would the United Kingdom be a Significant Hub for Laser Welding Processes?
The laser processor market in the United Kingdom is expected to grow to be worth US$ 1.1 billion with an absolute dollar growth of US$ 495.5 million till 2032. The laser processor industry in the United Kingdom has grown at a CAGR of 4.5% from 2017 to 2021 and is expected to grow at a CAGR of 6.5%.
Laser processing is widely used in the electronics industry in the United Kingdom due to its precision, accuracy, and flexibility. It is also preferred due to its ability to process a range of materials used in electronic components.
The United Kingdom has a significant smartphone industry with about 88% of the population owning a smartphone. The number grew to 92% in 2021, and it is projected that around 62 million adults in the United Kingdom will own a smartphone by 2025.
With the increase in the number of smartphones in the county the demand for laser processing is projected to increase. This is primarily because it is used in the cutting of printed circuit boards, which are an essential component of smartphone technology.
Why are Sales of Laser Processors in Automobile Sector Experiencing a Boost in China?
The laser processor industry in China is expected to grow to be worth US$ 10.4 billion with an absolute dollar growth of US$ 6.2 billion till 2032. The laser processor industry in China has grown at a CAGR of 11.1% from 2017 to 2021 and is expected to grow at a CAGR of 9.6% from 2022 to 2032.
China is one of the predominant car manufacturers in the world producing around 25 million units in the year 2020. The number of cars produced in the country rose to around 27 million cars in the year 2021.
With the increase in the number of cars produced in the country, efficient and cost-effective systems to aid manufacturing processes are high in demand. This is expected to significantly contribute to market growth for laser processors in China.
Which Product Type of Laser Processors is Projected to Witness Significant Growth?
The gas lasers are projected to witness significant growth as it has grown at a CAGR of 8.8% from 2017 to 2021 and is expected to grow at a CAGR of 8.0% from 2022 to 2032.
Gas lasers generally use gas mixtures as their lasing medium. The gas mixture is usually excited by an electrical discharge, which causes the gas molecules to emit light at a specific wavelength. Gas lasers are commonly used in scientific research, industrial applications, and medical procedures. Gas lasers also offer several advantages over other types of lasers, including high output power, efficiency, and reliability. However, they also require specialized equipment and careful handling due to the potential hazards associated with the high-voltage electrical discharges used to excite the gas mixture.
Industrial Application in Which Process is Expected to be Highly Lucrative for Laser Processor Suppliers?
The laser processor used in material processing are projected to witness significant growth as it has grown at a CAGR of 8.6% from 2017 to 2021 and is expected to grow at a CAGR of 7.9% from 2022 to 2032.
Laser processors are commonly used in material processing applications to cut, engrave, weld, and mark a wide range of materials. The high precision, accuracy, and speed of laser processors make them an ideal tool for many material processing applications. Laser processors are highly versatile tools that can be used to process a wide range of materials with a high degree of precision and accuracy. They offer several advantages over traditional material processing techniques, including reduced waste, faster processing times, and greater flexibility.
The market players are investing heavily in research and development for new and efficient products. The companies are also focussing on product launches to augment their market positions.
The key players in the market include Avalanche Technology Inc., Crocus Nano Electronics LLC, Everspin Technologies Inc., Honeywell International Inc., Infineon Technologies AG, Intel Corporation, NVE Corporation, Qualcomm Incorporated, Samsung Electronics Co. Ltd., Toshiba Corporation, Tower Semiconductor Ltd.
A few recent developments in the Laser Processor Market are:
By Product:
By Offering:
By Application:
By Region:
The global size of the laser processor industry was worth US$ 17.5 billion in 2021.
The global laser processor industry is projected to witness a market size of US$ 19.1 billion in 2022.
The valuation of the laser processor industry in 2032 is expected to be US$ 41.5 billion.
The CAGR growth of the laser processor industry over the last 4 years is 9.0%.
The projected CAGR for the laser processor industry is 8.1% through 2032.
The gas laser processor product will garner a significant value share by 2032.
