Industrial Lasers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Industrial Lasers Market is Segmented by Application (Micro Machining, Macro Machining, Laser Marking), End-user (Aerospace and Defense, Automotive, Healthcare, Consumer Electronics) and Geography.

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Industrial Lasers Market Size

Industrial Lasers Market Overview
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 4.83 %

Major Players

Industrial Lasers Market Major Players

*Disclaimer: Major Players sorted in no particular order
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Industrial Lasers Market Analysis

The industrial lasers market is expected to witness a CAGR of 4.83% during the forecast period (2021 - 2026). The increasing adoption of laser processing in industries can be easily be attributed to factors, such as automation, which allow computer and robot control without any human intervention. The use of industrial lasers in fiber optics has also provided access to previously inaccessible locations.

  • With the government imposing regulations in regards to the reduction of the CO2 emissions, automobile manufacturers are moving toward technological innovations in lasers to achieve the targets and maintain symmetry with stringent rules imposed by the government.
  • The increasing demand for high output power and small power is projected to spur the demand for the fiber laser market. The high reliability on fiber laser is anticipated to drive the industrial laser market.

Industrial Lasers Industry Segmentation

Industrial laser marking offers high resolution, allowing the application of any type of barcode, even on rough surfaces. The optimized process also enables high contrast marking on a wide range of materials, including plastics and metals. 

By Application
Micro machining
Macro machining
Laser Marking
By End-user
Aerospace and Defense
Automotive
Healthcare
Consumer Electronics
Other End-user Industries
Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

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Industrial Lasers Market Trends

This section covers the major market trends shaping the Industrial Lasers Market according to our research experts:

Laser Marking is Expected to Hold a Significant Market Share

  • Laser lettering systems are used mostly in the production of consumer goods and industrial products as well as in the automobile industry, machinery, and plant assembly. It is even used for tool manufacturing. As laser technology has advanced characteristics, laser markers have become more precise and useful for an increasing number of professional applications.
  • The industrial laser marking facilitates the customers to not only deal with counterfeits but also track and trace the entire product lifecycle. Laser marking machines provide the most efficient and finest marking that empower the customers to deal with product quality, safety, any regulatory or retailer compliance, and many other essential aspects of production and manufacturing. Industrial laser marking can be done on a variety of products ranging from plastic products to metallic parts.
  • Lasers have become an important part of the aircraft manufacturing process, by helping in construction, welding, and enhancing the aircraft. The increased expenditure in the aerospace and defense sector points toward a greater focus on maintenance.
Industrial Lasers Market Size

North America is Expected to Have a Significant Market Share

  • The increased expenditure by the government in the US army has contributed to significant enhancements in laser technology. Traditional lasers deliver bursts of intense energy from a distance for welding, cutting, or military applications. The new petawatt-class devices, used in military processes, deliver 1 million billion watts of energy in an almost unimaginably rapid pulse lasting just one-trillionth of a second.
  • With intense competition in the automobile sector in the United States, profit margins have been diminishing. Through the use of lasers, the manufacturers can reduce the input cost involved. The simplicity of automotive laser instruments and using them into the processing chain reduces the production costs and renders detailed output. 
  • With the growing healthcare sector in North America, laser finds numerous applications in medical applications. With the growing demand for devices providing precision and accuracy, lasers have seen huge adoption in the healthcare sector, due to the precision that they offer to the activities performed. Medical lasers are used to precisely focused light sources to treat or remove tissues. This precision is made possible with the introduction of industrial lasers.

 

Industrial Lasers Market Report

Industrial Lasers Industry Overview

The industrial lasers market is moderately competitive and consists of several major players. In terms of market share, none of the major players currently dominate the market. The manufacturers are focusing on the improvement of their product's efficiency by investing in research and development. 

  • March 2019: Coherent Inc. expanded its Gilching, Germany, micromachining and subsystem facility and completed the relocation of its laser marking group from nearby Gunding. Designated Coherent Munich, this location upgrades the organization’s applications and research and development capabilities.
  • February 2019: Coherent Inc. launched ExactCutTM First in a new series of precision laser machines. ExactCut systems combine the latest generation of pulsed fiber laser sources (300 W / 3 kW pulse peak), a high stability granite motion module, and a sophisticated human interface.

Industrial Lasers Market Leaders

  1. Fraunhofer IOF

  2. Jack's Machine Company Inc.

  3. Clark-MXR Inc.

  4. Rofin-Sinar

  5. IPG Photonics

*Disclaimer: Major Players sorted in no particular order

Fraunhofer IOF, Jack's Machine Company Inc., Clark-MXR Inc., Rofin-Sinar, IPG Photonics

Industrial Lasers Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 Enhanced Precision and Accuracy over Conventional Alternatives

      2. 4.3.2 Miniaturization of Component Parts

    4. 4.4 Market Restraints

      1. 4.4.1 Regulation Compliance Associated with Laser Usage

    5. 4.5 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.5.1 Threat of New Entrants

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Bargaining Power of Suppliers

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Application

      1. 5.1.1 Micro machining

      2. 5.1.2 Macro machining

      3. 5.1.3 Laser Marking

    2. 5.2 By End-user

      1. 5.2.1 Aerospace and Defense

      2. 5.2.2 Automotive

      3. 5.2.3 Healthcare

      4. 5.2.4 Consumer Electronics

      5. 5.2.5 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 North America

      2. 5.3.2 Europe

      3. 5.3.3 Asia-Pacific

      4. 5.3.4 Latin America

      5. 5.3.5 Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Fraunhofer IOF

      2. 6.1.2 Jack's Machine Company Inc.

      3. 6.1.3 Clark-MXR Inc.

      4. 6.1.4 Rofin-Sinar

      5. 6.1.5 IPG Photonics

      6. 6.1.6 MB Metal Technologies Inc.

      2. *List Not Exhaustive

  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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Industrial Lasers Market Research FAQs

The Industrial Lasers Market is studied from 2018 - 2028.

The Industrial Lasers Market is growing at a CAGR of 4.83% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

North America holds highest share in 2021.

Fraunhofer IOF, Jack's Machine Company Inc., Clark-MXR Inc., Rofin-Sinar, IPG Photonics are the major companies operating in Industrial Lasers Market.

Industrial Lasers Industry Report

Statistics for the 2023 Industrial Lasers market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Industrial Lasers analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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