Transparency Market Research has published a new report titled "Laser Processing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020" to its report store.
Albany, NY -- (SBWIRE) -- 03/25/2015 -- The market was valued at USD 8.76 billion in 2013 and is expected to reach USD 17.26 billion by 2020, growing at a CAGR of 10.2% from 2014 to 2020. Asia Pacific was the largest contributor to global laser processing market in 2013 and is expected to be the fastest growing market for laser processing during the forecast period with a CAGR of 10.9% from 2014 to 2020. The rapid growth of laser processing technologies in automobile, consumer electronics and other industries of Asia Pacific region, particularly across countries such as China, Japan and South Korea is driving the growth of laser processing market in Asia Pacific region.
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Laser technology offers high advantages such as high speed, minimal material wastage, high output power and low noise pollution as compared to the other conventional methods. This is expected to be the most important factor for high adoption rate of this technology in near future. Laser technology provides high precision cutting, welding and drilling with less damage to the material. This has encouraged manufacturers in different industries including automotive, aerospace, original equipment manufacturers (OEM) and others to adopt laser technology in material processing. Furthermore, government regulations regarding permanent and clear mark on consumer goods leads to wide adoption of laser technology across multiple industries namely pharmaceuticals, food, beverages and other goods.
Different laser products include gas lasers, solid-state lasers, fiber lasers and others. Amongst these, gas lasers are the most common type of lasers used for material processing and marking due to their high output power capabilities. Gas lasers accounted for 60.2% of the total laser processing market in 2013.
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Asia Pacific led the global laser processing market in 2013 with the share of 42.6% of the global market. This was mainly due to rising adoption of laser technology for material processing across aerospace and automotive industries among others.
The global market for laser processing was dominated by leading players such as Trumpf GmbH + Co. KG, Amada Co. Ltd. and Han's Laser Technology Co. Ltd. which collectively accounted for more than 40% share in 2013. Other important players in the market include Coherent Inc., Rofin-Sinar Technologies Inc., Bystronic AG, Prima Industrie S.p.A., Jenoptik Laser GmbH, IPG Photonics Corporation and others. The competitive rivalry among these companies is high and is expected to remain the same over forecast period.
The report studies the global laser processing market, and provides estimates in terms of revenue (USD million) from 2012 to 2020. Market estimates are provided on the basis of product type, process, end-use industry and geography. The market has been segmented as follows:
Browse Press Release Laser Processing Market
Market Segmentation of Global Laser Processing Market:
Laser Processing Market, by Product Type
Other (Semiconductor, Excimer, Dye) Lasers
Laser Processing Market, by Process
Marking and Engraving
Laser Processing Market, by End-use Industry
Original Equipment Manufacturers (OEM) Industry
Electronics and Microelectronics Industry
Medical Devices and Treatment i=Industry
Laser Processing Market, by Geography
Rest of the World (RoW)
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