Global Laser Processing Market to Be Worth US$16.9 Billion by 2025
The global market for Laser Processing is projected to reach US$16.9 billion by 2025 driven by growing importance of precision manufacturing as manufacturing worldwide comes under the intense challenge of increasing design tolerances.
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Laser Processing market. Report segmentation includes Type (Solid, Liquid, Gas, and Other Types); and Vertical (Machine Tools, Medical & Life Sciences, Automotive, Aerospace & Defense, Architecture, and Other Verticals)).
10 June 9:05 A.M., California/Marketwire/ - According to the new market research report, the global market for Laser Processing is projected to reach US$16.9 billion by 2025 driven by growing importance of precision manufacturing as manufacturing worldwide comes under the intense challenge of increasing design tolerances. The manufacturing industry is at a stage were efficiency and quality are the only two factors that will drive competitiveness. Product tolerances are becoming tighter than ever across myriad industries ranging from medical equipment, transportation, oil & gas to the military. Manufacturers currently face the challenge of eliminating variations in the production of parts and components and ensure repeatability and reproducibility of machined parts in high volume production scenarios. Machining is the critical process that makes or breaks conformance of products to specifications. Defined as the process where the workpiece is molded and formed into the desired shape and size, machining requires high performance measuring and measurement repeatability to ensure that all products are machined with zero levels of variations. When the mean value (u) of the dimensions of a machined part is closer to the true value of the part's specification, then trueness or accuracy will be high. Production lines everywhere in virtually every industrial vertical are rapidly moving towards precision and ultra-precision manufacturing. Precision engineering involves the use of technologies such as advanced CNC and milling machinery; CAD software tools; laser processing; automation technologies; optical metrology; among others. With accuracy, precision, trueness, repeatability and reproducibility being buzzwords for production success, faster turnarounds and efficiency, these machining technologies are essential to obtain the highest form of surface quality and shape.
The market stands to benefit from the robust demand for precision parts in myriad industries such as aerospace, automotive, electronics and semiconductors, healthcare, watches, construction, defense, marine and offshoring, heavy equipment, and power tools, among others. Stringent device safety regulations like in the medical devices industry; miniaturization like in the semiconductors and electronics industry; performance and quality specifications like in the automotive and aerospace industry are all factors driving demand for precision parts and components. Also, development of new substrate materials such as new metals and alloys; ceramics; carbon fiber etc. are pushing up the complexity of machining, driving the need for advanced machining technologies to shape material into precision parts. Laser processing defined as the use of laser technology, is a major precision machining technology. Benefits of laser processing driving its adoption as a preferred precision machining technology include zero risk of ejected material and debris damaging the surface and reduced need for post-processing; lower risk of damage to delicate parts; clean machining with no thermal fingerprint on the workpiece; zero impact on the material's physical characteristics; consumes less energy even when cutting and machining tough materials like steel and aluminium; faster and more precise cutting; ability to machine complex shapes with precision; ability to cut very small dimension holes with high quality edge detail; less wastages and more productive use of materials. Since lasers generate focused heat only in a small area they leave behind no thermal signatures like warping or distortion.
Key Competitors Covered in the Report
Amada Co, Ltd.
Han's Laser Technology Industry Group Co., Ltd.
IPG Photonics Corporation
LaserStar Technologies Corporation
Lumentum Operations LLC
Spectra Physics, Inc.
Wuhan HGLaser Engineering Co., Ltd.
Wuhan Raycus Fiber Laser Technologies Co., Ltd.
Geographies Analyzed in the Report
Europe (France, Germany, Italy, United Kingdom, and Rest of Europe)
Rest of World
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 951. Among this pool, 192 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 38 unique participations, a total of 17 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
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