Yahoo Finance The Global Laser Processing Market size is expected to reach $31.4 billion by 2028, rising at a market growth of 9.2% CAGR during the forecast period
Laser processing, is a procedure used for laser irradiation, laser cutting, surface modification, laser engraving, laser drilling, and micro processing, is the application of a laser beam to the surface of a material to complete the processing.
New York, June 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Laser Processing Market Size, Share & Industry Trends Analysis Report By Process, By Application, By Product, By Regional Outlook and Forecast, 2022 – 2028" - https://www.reportlinker.com/p06289262/?utm_source=GNW
Laser processing is being used in a variety of industrial applications. Light Amplification by the Stimulated Emission of Radiation, or LASER, is a type of light that differs from ordinary light in that it contains monochromatic and coherent photons of energy. Laser light, unlike regular light, can focus on a small spot due to the laser beams incredibly low deviation characteristic. Laser beams are commonly employed for treating a variety of materials due to their high-power density.
A laser processing system is a machine that consists of an electrical, mechanical, and optical assembly that includes the laser source and/or medium utilized to emit laser light. Laser light has distinct attributes such as strong temporal coherence, collimation, and monochromaticity that set it apart from other light sources. Laser systems are designed to allow material processing activities such as cutting, welding, lithography, and engraving by using light created by electromagnetic radiation. These systems are very adaptable and efficient, with substantially faster processing speeds than traditional machine tools.
CO2 lasers produce wavelengths of 10.6 and 9.3 microns, while fiber lasers produce wavelengths of 1.06 microns, which are commonly used for laser material processing. Each laser type has a range of power levels to maximize the laser energy-material contact. However, the laser type and power level are heavily influenced by the material’s absorption characteristics and chemical makeup, as well as the intended results. Material ablation and/or material change are two consequences of laser energy-material interaction.
COVID-19 Impact
End-user industries’ growing preference for laser-based material processing over conventional methods, growing adoption for high-quality and legitimate end-products, rising demand for microelectronic device miniaturization, and surging technological developments in the medical sector are all driving the laser processing industry’s growth. The laser processing market is developing because of the increasing usage of solid and gas in drilling, cutting, engraving, and marking applications, as well as the rising demand for lasers from various end-use industry verticals.
Market Growth Factors
Benefits of laser processing as compared to traditional material processing
A variety of advantages provided by laser material processing over traditional methods are expected to cause an increase in laser adoption for material processing during the forecast period. With the growing demand for microelectronics miniaturization, laser cutting is becoming more popular. Laser cutters offer incredibly high precision and accuracy, which is necessary in settings where limitations are extremely tight, making them the best choice. It is also fast and generates items without requiring retooling. Furthermore, because the laser weld is thin and has a good depth-to-width ratio, it gives increased weld strength.
Greater accuracy is achievable with laser processing.
Laser processing has an incredibly high level of precision when compared to traditional cutting methods. This is due to the fact that the laser beam does not wear throughout the cutting operation, resulting in a constant, distortion-free cut. Due to the dynamics of the individual job are pre-recorded, there is also a high level of positional precision. Laser processing can be a considerably more effective solution for unique or complex shapes since the instrument used to cut through the material is variable in movement and direction. Furthermore, because no tools are required, it can often accomplish this faster than conventional cutting processes.
Market Restraining Factors
Challenges faced with metal tube laser processing
The molten slag sticks to the inner wall of the tube when it is cut (particularly for square tubes with small tube diameters), and the workpiece absorbs the majority of the heat produced by the cutting. When the cutting intensity is excessive, the tube will overheat, resulting in overturning of the corners, which severely decreases the quality of the incision and may even prevent it from being cut. Laser tube cutting has several quality problems, including over burning of parts’ cutting point, over burning of parts’ corners, the inclination of cutting surfaces, deflection of circular patterns when cutting round parts, failure to close, etc. Tube waste and low cutting efficiency are directly related. It is, therefore, necessary to conduct further in-depth research on these topics.
Process Outlook
Based on Process, the market is segmented into Material Processing, Marking & Engraving, Micro-Processing. The Marking & Engraving segment recorded a significant revenue share in the laser processing market in 2021. Mining and drilling operations, particularly crude oil extraction, benefit from laser processing. Aerotech’s key development areas, for example, are mechanics, controls, and laser control mechanisms. The OEMs, system integrators, and end-users are then assisted with the etching, marking, welding, and cutting processes. Furthermore, the use of water jet cutting equipment provides a uniform cutting surface with small cuts, resulting in increased overall process efficiency and, as a result, market development.
Application Outlook
Based on Application, the market is segmented into Machine Tools, Electronics and Microelectronics, Automotive, Medical, Packaging, Aerospace, and Others. The machine tools segment garnered the highest revenue share in the laser processing market in 2021. Due to the increasing acceptance of lasers in the manufacturing industry for a variety of material processing applications including cutting, welding, drilling, and engraving. Microelectronics devices and the medical sector are expected to drive the laser processing market, which is expected to grow. Medical devices use welding extensively during manufacture. Pacemakers, implanted devices, and surgical tools are examples of key medical applications that require ultra-fine wires and non-porous, sterile surfaces for cardiac procedures.
Product Outlook
Based on Product, the market is segmented into Gas Lasers, Solid-state Lasers, Fiber Lasers, and Others. The gas lasers segment acquired the highest revenue share in the laser processing market in 2021. It is due to the carbon dioxide, copper, carbon monoxide, nitrogen, argon-ion, and helium-neon lasers as they all part of the gas section. Q-switched Nd: YAG lasers, small diode-pumped Nd: YAG or Nd: YVO4 lasers, and bigger lasers in side-pumped or end-pumped designs make up the solid-state section. Fiber lasers allow firms to take advantage of the technology’s advantages in their production processes.
Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia pacific region acquired the largest revenue share in the laser processing market in 2021. Because of the increasing number of OEMs in this region, it is likely to develop significantly. China is also expected to become the largest buyer of industrial lasers and equipment for materials processing and micro processing. Several reasons, such as an increase in the number of OEMs and the growth of the automobile sector, are predicted to propel India, South Korea, Japan, and China to significant growth.
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Lumentum Holdings, Inc. are the forerunners in the Laser Processing Market. Companies such as TRUMPF GmbH + Co. KG, IPG Photonics Corporation, Jenoptik AG are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Coherent, Inc., IPG Photonics Corporation, Lumentum Holdings, Inc., Jenoptik AG, TRUMPF GmbH + Co. KG, Han’s Laser Technology Industry Group Co., Ltd., Epilog Laser, LUMIBIRD, LaserStar Technologies Corporation, and Gravotech Marking.
Recent Strategies Deployed in Laser Processing Market
Partnerships, Collaborations and Agreements:
Feb-2021: Jenoptik joined hands with 4JET, a Tire machinery manufacturer. Together the companies aimed to market a cooperative laser prototyping technology. In addition, the technology would allow producers to sample vehicle tires at a rapid rate due to more accurate laser material processing. Moreover, this process is associated with using a laser to slash individual shapes and designs into an entire soft track and unbiased sidewall.
Dec-2020: Coherent signed a supply agreement with II-VI Incorporated, an American producer of semiconductors and optical materials. Through this agreement, the companies allow quick action advancement and simplify manufacturing services for automotive laser welding function. In addition, the agreement involve durability alloy welding for automotive body-in-white function and massive manufacturing copper welding for electrification applications.
Product Launches and Product Expansions:
Apr-2022: TRUMPF introduced TruMicro 6000 and TruMicro 2000, the next generation and new lines of its TruMicro ultrashort pulse lasers. The new product line offers new technology platforms for accurate power and improves adaptability. Additionally, the two latest generations of TruMicro lasers, would expand micro-processing product suite and provide solutions appropriate to reimburse the market’s demanding needs.
Mar-2022: IPG Photonics unveiled LightWELD XR, the third product offering within the handheld laser welding and cleaning product line. The laser offers an extensive variety of cleaning abilities and handheld laser welding to manage more materials and width than previous LightWELD products by manufacturing a tiny spot size providing six times greater energy thickness.
Jan-2022: Jenoptik launched Votan A+, a new Votan laser processing machine aimed at the auto production sector. The Votan A+ offers a modular standard version that complements the actual offering of personalized machines for accurate laser airbag decline. Additionally, The smartly aimed laser beam of a Votan A system cuts each separate hole of the transparent decline line accurately into the material until getting the lowest possible wall thickness.
Sep-2021: IPG Photonics Corporation introduced the LightWELD 1500 XC, a leading handheld laser welder with new abilities. The handheld laser welder allows fabricators to quickly realize cost and time-saving advantages as compared with conventional pre- and post-weld washing procedures.
Nov-2020: IPG Photonics Corporation unveiled LightWELD, a new handheld laser welding equipment. The laser welding product line allows fabricators to avail of the greater changeability, accuracy, and easy use of authorized laser-based solutions over traditional welding products. Additionally, the LightWELD handheld laser welding system is an example of extreme fiber laser modernization for which IPG is acclaimed.
Nov-2020-Nov Epilog Laser introduced Fusion Edge, a highly-anticipated machine to the company product line. Fusion Edge offers a 610 x 305 x 178 mm work area, accessible in 30, 40, 50, and 60-watt CO2 versions, or a 30-watt fiber laser source arrangement. Additionally, the Fusion Edge assimilates most famous features of Epilog’s Fusion Pro Series in a small-format system.
Jul-2020: TRUMPF introduced Programming Tube, the new programming software for laser tube cutting machines. The programming tube accomplishes many work steps instinctive so that for many completed parts, no further programming attempt is needed. Additionally, The habitual working assures workers get used to the systems rapidly.
Jun-2020: Coherent’s introduced FL4000CSM-ARM fiber laser, developed on the successor of Coherent HighLight ARM fiber laser series. The FL4000CSM-ARM fiber laser allows more leading welding abilities for high thermal resistivity metals and aligns to welding demands for energy storage, e-mobility, and general electrical interconnects equaling of dissimilar materials, including aluminum and copper, and foil stacks that demand precise administer.
Acquisitions and Mergers:
Feb-2022: TRUMPF completed the acquisition of Active Fiber Systems, a company based in Jena, Germany, that master in fiber lasers. Through this acquisition, the companies aimed to utilize the teamwork in the research and advancement of its actual ultrashort-pulse laser offering and to expand its enterprise in this developing field.
Oct-2021: JENOPTIK took over Berliner Glas, a wholly-owned subsidiary of ASML Holding Dutch Multinational Corporation. Through this acquisition, the company aimed to reinforce the worldwide and rapidly growing photonics enterprise by substantially expanding the strong semiconductor tools industry, and highly attractive medical technology enterprise.
Scope of the Study
Market Segments covered in the Report:
By Process
• Material Processing
• Marking & Engraving
• Micro-Processing
By Application
• Machine Tools
• Electronics and Microelectronics
• Automotive
• Medical
• Packaging
• Aerospace
• Others
By Product
• Gas Lasers
• Solid-state Lasers
• Fiber Lasers
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Coherent, Inc.
• IPG Photonics Corporation
• Lumentum Holdings, Inc.
• Jenoptik AG
• TRUMPF GmbH + Co. KG
• Han’s Laser Technology Industry Group Co., Ltd.
• Epilog Laser
• LUMIBIRD
• LaserStar Technologies Corporation
• Gravotech Marking
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
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• Assured post sales research support with 10% customization free
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