Laser Processing Market Inside, Looks For Growth Opportunities
The laser processing market is estimated to reach USD 9.75 Billion by
2022, at a CAGR of 6.13% between 2016 and 2022. The increasing use of
solid and gas lasers mainly CO2, fiber, dye, excimer, and YAG in the
cutting, drilling and marking & engraving applications, and the
growing demand for lasers across diversified verticals are driving the
growth of the laser processing market.
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Some of the key players operating in the laser processing market are Coherent, Inc. (U.S.), IPG Photonics Corporation (U.S.), ROFIN-SINAR Technologies Inc. (U.S.), Trumpf Group (Germany), Newport Corporation (U.S.), Jenoptik AG (Germany), Eurolaser GmbH (Germany), Epilog Laser (U.S.), Alltec GmbH (Germany), and Lumentum Holdings Inc. (U.S.).
The scope of the report covers detailed information regarding the major factors influencing the growth of the laser processing market such as drivers, restraints, challenges and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, product and service offerings, key strategies, new product launches, mergers & acquisitions, partnerships, agreements, collaborations, and recent developments associated with the laser processing market.
Solid lasers expected to hold the largest market share during the forecast period
The laser processing market is segmented on the basis of laser types into solid, liquid, gas, and other lasers. The market for laser processing was led by solid lasers due to the increasing adoption of fiber, semiconductor, and YAG lasers for an extensive range of applications such as cutting, drilling, welding, and marking & engraving among many others. These lasers are also witnessing an increased level of adoption across machine tools, automotive, medical, and microelectronics verticals.
Application in the machine tools vertical expected to hold the largest market share during the forecast period
The application in the machine tools vertical is expected to account for the largest share of the laser processing market during the forecast period due to the rising adoption of lasers in the