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Global Industrial Laser Market

Global Industrial Laser Market: Fiber Laser Product to Witness Maximum Demand
Global Industrial Laser Market: Fiber Laser
Product to Witness Maximum Demand
The global industrial laser market features the presence of several large companies
that renders a competitive vendor landscape, states Transparency Market Research
(TMR) in a new report. Top companies are vying to enter into partnerships with
smaller ones to expand their product offerings and tap into growth opportunities in
local markets.
Some key companies operating in the global industrial laser market are TRUMPF,
Coherent, Hypertharm Inc., Apollo Instruments, Amonics Ltd., IPG Photonics, Clark
MXR, Calmar Laser Inc., 3 SP Technologies S.A.S., and Han’s Laser Technology
As per the TMR report, the global industrial laser market is predicted to expand at a
moderate 4.6% CAGR between 2017 and 2026. In terms of product type, the key
segments into which the industrial laser market is classified are CO2 lasers, solid state
lasers, fiber lasers, and others. Out of these, the fiber laser product segment is the
most attractive one worth US$900 mn. However, the others product type segment is
anticipated to witness faster growth rate over the forecast period through 2026. By
end-use, the industrial laser market is segmented into medical defense, construction,
electronics, aeronautics & marine, automotive, utility and other verticals. In terms of
application, the industrial laser market is classified into micromaterials, marking, and
Widespread Use across Industries Boosts Growth
Owing to a number of micro-economic and macro-economic factors, the global
industrial laser market is set to tread a growth path, says the author of the study.
Surging demand for processing manufacturing materials across industries continues
to be a key growth driver of the industrial laser market. Heat treatment, cutting,
welding, drilling, and marking are some industrial processes that require industrial
laser. Industrial lasers continued to be used substantially for welding manufacturing
materials and for heat treatment of surfaces for the purpose of transformational
hardening mainly in automotive and electronic industry.
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Due to benefits of precise cutting and low contamination levels, laser cutting
technology finds widespread applications. Laser cutting enables manufacture of tools
that enable precise cutting of steel and aluminum sheets for various end-use.
Attributes of low contamination levels of laser cutting technology also contributes to
the growth of industrial laser market.
Furthermore, integrating industrial lasers with advanced technological features such
as GPS technology and sensors is likely to boost their sale for application in various
industries. Industrial lasers offer features for data collection in various end-use
industries such as mining, telecommunications, forestry, construction, and natural
resource management.
Newer Use of Industrial Laser for Educational Pursuits Benefits Market
In recent years, the use of industrial lasers in educational institutions have come to
the fore. They are used for cutting tubes, sheets and plates, and box sections for
various academic activities. In the medical sector, rising demand for dermatology and
cosmetology are boosting sale of industrial lasers. LIDAR sensors comprising a sensor,
laser, and a specialized GPS receiver finds application in several industries such as
manufacturing and automotive. This is also driving the demand for industrial lasers.
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