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Laser Processing Equipment Market Trends

  • Report ID: GMI8470
  • Published Date: Mar 2024
  • Report Format: PDF

Laser Processing Equipment Market Trends

Laser-based additive manufacturing technologies, such as Selective Laser Melting (SLM) and Stereolithography (SLA), are gaining prominence for rapid prototyping and production of complex components. As additive manufacturing continues to evolve and finds applications across various industries, the demand for laser processing equipment tailored for additive manufacturing processes is expected to increase. Technological advancements, industry-specific requirements, and the pursuit of efficiency and sustainability in manufacturing processes are fueling the laser processing equipment market. Continued innovations and the integration of laser technologies with emerging trends, such as Industry 4.0 and additive manufacturing, are likely to shape the future market growth.
 

There is a growing emphasis on environmental sustainability and energy efficiency in manufacturing processes. Laser processing equipment offers advantages, such as reduced material waste, lower energy consumption, and fewer harmful emissions, over traditional machining methods, making it an attractive choice for environmentally conscious industries. The automotive and aerospace industries are significant consumers of laser processing equipment for applications such as welding, cutting, and surface treatment. As these industries continue to innovate and incorporate lightweight materials, such as composites and aluminum alloys, the demand for advanced laser processing solutions is expected to grow.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of laser processing equipment reached USD 22 billion in 2023 and is set to witness 9% CAGR through 2032, propelled by the integration of Industry 4.0 technologies, such as the Internet of Things (IoT), Artificial Intelligence (AI), and automation.

The fiber lasers segment accounted for USD 11 billion in 2023, as it offers high efficiency, converting a larger proportion of input energy into usable laser energy.

North America market generated around USD 7 billion revenue in 2023, backed by the advancements in laser technology and equipment, along with increasing usage for various applications including cutting, welding, marking, engraving, and surface treatment.

Concept Laser, Control Micro Systems, Epilog Laser, eurolaser, Hanslaser, Hgtech, IPG Photonics Corporation, Jenoptik, Laser Systems, Lumentum, Newport Corporation, Rofin-Sinar Technologies, TRUMPF, Universal Laser Systems, and Vermont.

Laser Processing Equipment Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 232
  • Countries covered: 24
  • Pages: 182
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