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Laser Processing Market Report by Process (Material Processing, Marking and Engraving, Micro-Processing), Product (Gas, Solid-State, Fiber, and Others), Application (Automotive, Aerospace, Machine Tools, Electronics and Microelectronics, Medical, Packaging), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A4475
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Market Overview:
The global laser processing market size reached US$ 4.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 8.3 Billion by 2032, exhibiting a growth rate (CAGR) of 6.1% during 2024-2032.
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Report Attribute
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Key Statistics
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|---|---|
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Base Year
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2023
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Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 4.8 Billion |
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Market Forecast in 2032
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US$ 8.3 Billion |
| Market Growth Rate (2024-2032) | 6.1% |
Laser processing helps in laser welding, laser cutting, surface modification, laser drilling, and micro-processing. It utilizes projected beams that can be moving, fixed, or hybrid for engraving, etching, micro processing, and material processing. It is a non-contact processing technique that provides the manufacturer with high-quality, smooth and dimensionally accurate cuts. It also improves the damage resistance of materials and offers composites with no microcracks, which make it more popular than its traditional processing techniques. Nowadays, laser processing technology is widely used in automotive, aerospace and defense, architecture, packaging, and telecommunication industries for punching, cutting, scribing, welding, and heat treatments.
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Laser Processing Market Trends:
The global laser processing market is primarily driven by various advantages of laser process over conventional material processing technologies. Laser processing provides a permanent, faster, and accurate way of marking and engraving while offering high efficiency, superior beam quality and reliability. Besides this, the rising trend of miniaturization of products and microelectronic devices is fueling the market growth. Furthermore, there has been growing adoption of laser processing technology in the manufacturing of medical devices such as pacemakers, implantable devices and surgical tools. Moreover, technological advancements have also enhanced the edge quality and cutting speed of laser processing. For instance, the development of a liquid-crystal spatial light modulator (SLM) by Hamamatsu Photonics with the highest pulsed laser power capabilities of up to 400 GW/cm2 is helping users to achieve high-throughput and high-precision laser processing. Furthermore, the utilization of expensive laser-drilling techniques in oil and gas exploration, which reduce the cost of drilling and improve the feasibility of uneconomic oil deposits across the globe, is further expected to drive the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global laser processing market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on process, product, and application.
Breakup by Process:
- Material Processing
- Marking and Engraving
- Micro-Processing
Breakup by Product:
- Gas
- Solid-State
- Fiber
- Others
Breakup by Application:
- Automotive
- Aerospace
- Machine Tools
- Electronics and Microelectronics
- Medical
- Packaging
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Bystronic Laser Ag, Coherent Inc., Epilog Laser, Eurolaser GmbH, Han's Laser Technology Industry Group Co. Ltd., IPG Photonics Corporation, Jenoptik AG, LaserStar Technologies Corporation, Newport Corporation (MKS Instruments Inc.), Prima Industrie S.p.A., Trumpf GmbH + Co. KG and Universal Laser Systems Inc.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Segment Coverage | Process, Product, Application, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Bystronic Laser Ag, Coherent Inc., Epilog Laser, Eurolaser GmbH, Han's Laser Technology Industry Group Co. Ltd., IPG Photonics Corporation, Jenoptik AG, LaserStar Technologies Corporation, Newport Corporation (MKS Instruments Inc.), Prima Industrie S.p.A., Trumpf GmbH + Co. KG and Universal Laser Systems Inc. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global laser processing market was valued at US$ 4.8 Billion in 2023.
We expect the global laser processing market to exhibit a CAGR of 6.1% during 2024-2032.
The emerging trend of miniaturization of products and microelectronic devices, along with the rising adoption of laser processing technology for punching, cutting, scribing, welding, and heat treatments, is primarily driving the global laser processing market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for laser processing.
Based on the process, the global laser processing market can be categorized into material processing, marking and engraving, and micro-processing. Currently, material processing accounts for the majority of the global market share.
Based on the product, the global laser processing market has been segregated into gas, solid-state, fiber, and others. Among these, gas currently exhibits a clear dominance in the market.
Based on the application, the global laser processing market can be bifurcated into automotive, aerospace, machine tools, electronics and microelectronics, medical, and packaging. Currently, machine tools hold the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global laser processing market include Bystronic Laser Ag, Coherent Inc., Epilog Laser, Eurolaser GmbH, Han's Laser Technology Industry Group Co. Ltd., IPG Photonics Corporation, Jenoptik AG, LaserStar Technologies Corporation, Newport Corporation (MKS Instruments Inc.), Prima Industrie S.p.A., Trumpf GmbH + Co. KG, and Universal Laser Systems Inc.
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