Albany, NY -- (SBWIRE) -- 12/08/2017 -- The global industrial lasers market is likely to grow at a CAGR of 4.6% during the period 2017-2026, according to a new research report added to the repository of Market Research Hub (MRH). According to the report titled "Industrial Laser Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2026", the global demand for industrial lasers is likely to grow on account of surging demand for end-use industries.

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Industrial lasers are used in a broad range of applications, including medical, defense, construction, automotive, aeronautics & marine, food & textile, utility, and electronics. Among these, use of industrial lasers in the medical industry represents a lucrative opportunity on account of popularity of lasers in cosmetology and other skin procedures. Demand will also be supported by broader gains in the automotive and construction sector. The global automotive industry is facing few short-term challenges, but in the long run, the outlook on the market remains positive. Steady demand from the automotive industry is likely to provide growth opportunities to manufacturers.

There are different types of lasers available in the market, with CO2, fiber, and solid state being the prominent among them. Currently, a higher preference for fiber lasers has been witnessed in the market, and the growth is likely to remain steady during the forecast period. The level of flexibility offered by fiber lasers is a key factor boosting their uptake in end-use industries.

Although the outlook on the global industrial lasers market remains positive, there are some challenges that can stymie the growth of the market during the forecast period. Concerns about the potential health impact of prolonged exposure to radiation, combined with the high cost and limited number of suppliers can impede the growth of the market during the forecast period.

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The report has also segmented the market on the basis of application into marking, micromaterials, and macromaterials. The key power type segments in the market include high (more than 1KW), medium (100W to 1KW), and low (1W to 100W). The key regions in which the market has been analyzed include North America, Latin America, Asia Pacific excluding Japan (APEJ), Europe, Japan, and Middle East & Africa.

The leading companies profiled in the report include Coherent, Hypertharm Inc., RUMPF, IPG Photonics, Clark MXR, Amonics Ltd., Apollo Instruments, Calmar Laser Inc., 3 SP Technologies S.A.S., and Han's Laser Technology.

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