A recent market research report added to the portfolio of MarketResearchReports.biz presents an analytical account of the potential future growth prospects of the global market for industrial lasers.
Albany, NY -- (SBWIRE) -- 09/06/2018 -- The report, titled "Industrial Laser Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017–2026," states that the market will exhibit a promising 4.6% CAGR over the period between 2017 and 2026.
The market has benefitted massively over the years owing to the steady rise in demand for material processing and manufacturing machines in the industrial sector across the globe. Industrial lasers provide benefits such as low levels of contamination and precise cuts in materials such as aluminum and steel. Owing to this, lasers finds widespread applications in a variety of industrial applications.
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Industrial processes such as welding, heat treatment, marking, and drilling also require industrial lasers. Industrial lasers are also essential for heat treatment of surfaces for transformational hardening of a variety of materials in industries such as electronics and automotive. As these industries continue to expand at a promising pace on a global front, the demand for industrial lasers is also expected to benefit in the near future. Moreover, the global industrial laser market is also driven due to the vast technological advancements being observed in the market in the recent years. Introduction of industrial lasers with sensors and technologies such as GPS is likely to boost their uptake in new application areas.
The report segments the global industrial lasers market based on attributes such as product type, end-use industry, application, and geography. Based on product type, the market has been examined for varieties such as solid state lasers, CO2 lasers, and fiber lasers. Of these, the segment of fiber laser is presently the most attractive one, worth nearly US$900 mn. Based on end use industry, the report segments the global industrial lasers market into construction, defense, aeronautics and marine, electronics, utility, and automotive.
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Based on geography, the market for industrial lasers has been examined in the report for regions such as Asia Pacific, North America, Europe, and Middle East and Africa. Presently, the market in Asia Pacific accounts for the dominant share of revenue in the global market, thanks to the thriving industrial sector in emerging economies of India and China and increased preference of global manufacturers from a number of industries to these countries for expanding their manufacturing facilities. The regional market is likely to remain a key contributor of not only revenue but also new growth opportunities for companies in the global industrial laser market over the forecast period as well as socio-economies factors ceaselessly act in favor of rapid industrialization.
Some of the leading companies operating in the global industrial laser market are Calmar Laser Inc., Clark MXR, IPG Photonics, TRUMPF, Apollo Instruments, Amonics Ltd., Hypertharm Inc., 3 SP Technologies S.A.S., Coherent, and Han's Laser Technology.
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