It is anticipated that the Laser Processing Market Size would increase by USD 5.8 billion by 2025, from USD 4.0 billion in 2020, at a projected CAGR of 7.8%. The growth of the laser processing industry is primarily due to the end-user industries' increasing preference for laser-based material processing over conventional methods, the rising demand for high-quality and authentic end products, the demand for the miniaturisation of microelectronic devices, and the rapid advancement of technology in the medical field.
Solid lasers to witness highest CAGR during forecast period
From 2020 to 2025, the Laser Processing Market is anticipated to grow at the highest CAGR in the solid lasers category. Solid lasers produce both continuous and pulsed output with great efficiency while preventing the waste of materials in the active medium. These lasers can be used for a variety of tasks, including drilling holes in metal, endoscopy in the medical field, and military targeting.
Laser Revenue to witness higher CAGR during forecast period
From 2020 to 2025, the Laser Processing Market is expected to see a higher CAGR in the laser revenue sector. Sales of many types of lasers, including YAG lasers, semiconductor lasers, thin-disk lasers, ruby lasers, fibre lasers, X-ray lasers, dye lasers, excimer lasers, argon lasers, chemical lasers, and helium-neon lasers, for processing purposes create laser revenue.
Moving beam configuration to witness highest CAGR during forecast period
From 2020 to 2025, the Laser Processing Market is anticipated to grow at the highest CAGR in the moving beam configuration category. The cutting head with the laser beam moves over the material in both the X and Y axes in laser machines with moving beam arrangement. As a result, there is no longer a need for continual material clamping because the dynamics are unaffected by the fluctuating workpiece size. Due to their speed, these machines are excellent for cutting thin workpieces.
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Advanced processing application to witness highest CAGR during forecast period
From 2020 to 2025, the laser processing market is anticipated to grow at the fastest rate for the advanced processing application. In the world of additive manufacturing, lasers have seen new application possibilities in processes like cladding and 3D printing. Many businesses are concentrating on additive manufacturing as a result of the rising usage of CO2 and fibre lasers in particular in the sector.
Architecture End-User Industry to witness highest CAGR during forecast period
From 2020 to 2025, the laser processing market is expected to have the greatest CAGR in the architectural end-user industry. Lasers aid architects in producing accurate building models. These models are able to depict the design correctly before building begins, allowing the required adjustments to be done to fix defects or mitigate the effects of weather conditions like rain, strong storms, and other inevitable natural occurrences.
Laser processing market in APAC is projected to grow at highest CAGR during forecast period
During the forecast period, the Laser Processing Market in APAC is anticipated to develop at the highest CAGR. China, Japan, South Korea, and India are the principal market contributors in APAC. When compared to other regions, APAC has been at the forefront of the use of laser processing solutions. The region's Laser Processing Market is anticipated to grow as a result of the high population density, increased R&D spending on technology, and expansion of the manufacturing and electronics industries.
Key Players Operating in the Laser Processing Market include Coherent (US), Trumpf (Germany), Han’s Laser (China), IPG Photonics (US), Jenoptik (Germany), Lumentum (US), Gravotech (France), LaserStar (US), Lumibird (France), and Epilog Laser (US). Most of these companies focus on organic and inorganic growth strategies, such as product launches & developments, mergers & acquisitions, agreements, contracts, partnerships, collaborations, and expansions, to increase their revenue.
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