According to the latest market research report “Laser Processing Machine Market: By Laser Type (Fiber Laser, Diode Laser, Others); By Processing Type (Cutting, Welding, Marking & Engraving and others); By End User Industry (Automotive, Semiconductor & Electronics, others); By Geography – Forecast (2017-2023)”, published by IndustryARC, the market to reach $21.54 by 2023
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According to a recent study from IndustryARC, the Laser Processing Machines market is forecast to reach $21.54 billion by 2023 and is estimated to grow at a CAGR of 7.5%. The growth in the Laser Processing Machines market can be attributed to on-going investment in the manufacturing sector to adopt advanced machines for processing.
The Laser Processing Machines market is majorly dominated by the cutting processing type and it is estimated to account for a share of 41% in 2016. Laser cutting is a non-contact process that is easy to integrate into automated production line providing several advantages compared to other cutting technologies such as; fast, flexible, highly precise, cutting complex count on flat among others. OEMs have already started to switch towards fiber lasers for cutting operations owing to enhance their productivity by increasing their speed and cutting capabilities among others.
This is followed by marking & engraving segment contributing about 20.57% of the overall Laser Processing Machines market. Manufacturer in every sector are applying serialized alphanumeric, graphic or bar code for proper identifications in their end-products. Laser technology can mark variety of materials such as ceramic, glass, plastics surfaces among others. Also, increase in demand for marking speed in recent years has resulted to low cost of laser marking systems. Additive manufacturing is also one of the major end-user vertical contributing to the growth of Laser Processing Machines market. Companies such as; Stratasys (U.S.), 3D systems (U.S.), Protolabs (U.S.) among others are utilizing lasers for additive manufacturing operations. Trumpf is also providing laser additive manufacturing machines owing from year 2014.
Asia-Pacific is the largest market of Laser Processing Machines market globally with a revenue share of around 42.24% in 2016. China is the major region for the growth of laser processing machines market. Automotive, aerospace among others are the core manufacturing industries contributing to the growth of laser processing machines in the region. Chinese government to plan and take initiative to upgrade the Chinese industry and move the economy towards higher value added and concurrently focusing on quality over quantity will fuel opportunity for the laser processing machines market. Made in China 2025, has clear goals for transforming China from a manufacturing giant into world manufacturing power by 2025.This initiatives has also emphasized on machine tools for developing the manufacturing sectors. Also, owing to industrial upgrading and digital evolution of downstream industries, there will be continued demand for processing machines which will positively impact the laser processing machines market in the region.
The Major Players in this Market Include
Mitsubishi Corporation (Japan)
Hans Laser (China)
The Laser Processing Machines market study across various Laser Source is incorporated in the Report
Fiber Laser is the dominant laser for laser processing machines market. Cutting machines deploy fiber laser for cutting metals and other hard materials. This lasers are replacing Co2 lasers in terms of cutting and welding applications.
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