Market Highlights

Global Laser Processing Market is projected to register a 7.3% CAGR during the forecast period, 2020–2026.

Laser processing is a non-contact processing technique that uses a laser beam to cut/slice materials that provide the manufacturer with high quality, smooth, and dimensionally accurate cuts. The technique is widely used in applications ranging from micro/nanofabrication techniques to surface treatment, structuring, modification, and controlled surface plastic deformation. This process increases damage resistance of materials and provides composites with no microcracks. Various factors characterize the growth of the global laser processing market. Manufacturers’ inclination towards laser processing techniques over traditional processing techniques is driving the market growth. The rising need for miniaturization of products and microelectronic devices is also expected to fuel the market growth. Moreover, the increasing automation across manufacturing facilities has created growth opportunities in the global laser processing market.

Key Segments

Global Laser Processing Market has been segmented based on Product, Laser Type, Application, End-User, and Region.

By product, the laser processing market has been segmented into gas lasers, solid-state lasers, fiber lasers, and others.

By laser type, the laser processing market has been segmented into a fixed beam, moving beam, and hybrid beam.

By application, the laser processing market has been segmented into cutting, marking, welding, drilling, engraving, additive manufacturing, and others.

By the end-user, the laser processing market has been segmented into automotive, aerospace & defense, manufacturing, semiconductor & electronics, medical & life sciences, packaging, oil & gas, and others.

By region, the laser processing market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.

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Regional Analysis

Global Laser Processing Market is estimated to grow at a significant rate during the forecast period, 2020 to 2026. The geographic analysis of laser processing has been conducted for North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Spain, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, and the rest of Asia-Pacific), and the rest of the world (the Middle East & Africa and South America). Among these regions, the North American region has dominated the laser processing market in 2019 and is likely to maintain its dominance throughout the study period. On the other hand, Asia-Pacific is expected to witness the fastest growth during the forecast period. The increasing demand for custom markings and engraving is expected to anticipate the growth of the Asia-Pacific over the forecast period.

Key Players

Altec GmbH (Germany), ALPhANOV (France), Amada Co., Ltd (Japan), Bystronic Laser AG (Switzerland), Coherent Inc. (COHR (NASDAQ)), Epilog Laser, Inc. (US), Eurolaser GmbH (Germany), Han's Laser Technology Industry Group Co., Ltd. (China), IPG Photonics Corporation (IPGP (NASDAQ)), Newport Corporation (MKS Instruments, Inc.) (US), Prima Industries (Italy), LaserStar Technologies Corporation (US), The Needham Group (Needham Coding) (England), Jenoptik Laser GmbH (Germany), Q-Peak Inc. (US), ROFIN-SINAR Technologies Inc. (US), SEI Laser (Italy), Trumpf GmbH + Co. KG (Germany), Universal Laser Systems, Inc. (Japan), Xenetech Global Inc. (US), Trotec Laser GmbH (Austria), FOBA (US), and Mitsubishi Electric (Japan) are some of the key players in the global laser processing market. The prominent players in the global market focus on innovating and investing in research & development to offer a cost-effective product portfolio. There have been recent mergers

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