Laser Processing Market Worth $17.36 Billion by 2020
05 Dec, 2014, 08:30 GMT
DALLAS, December 5, 2014 /PRNewswire/ --
According to a new market research report of "Laser Processing Market by Application (Cutting, Drilling, Marking), Laser type (Gas, Solid, Fiber Laser), Machine Configuration (Moving, Fixed beam), Vertical (Machine Tooling, Automotive), Geography - Global Forecast to 2020", published by MarketsandMarkets, the market is expected to grow at a CAGR of 6.18% between 2014 and 2020, and reach $17.36 Billion by 2020.
Browse 81 market data Tables and 62 Figures spread through 214 Pages and in-depth TOC on "Laser Processing Market".
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The global Laser Processing Market is expected to reach $17.36 Billion by 2020, at an estimated CAGR 6.18% between 2014 and 2020. Europe and the Asia-Pacific region are expected to witness the fastest growth in the laser processing market. Europe is expected to expand at a CAGR of 5.92%, whereas APAC is expected to grow at a rate of 6.1%, between 2014 and 2020. The machine tooling segment constitutes the largest end user segment for the laser processing market. This market is experiencing a positive growth trend because of increasing applications in medical, machine tooling, and automobile industry. Laser processing provides a clean and damage free operation as it is a non-contact process. This is one of the most important factors contributing to the growing adoption of laser technology in manufacturing processes, across the world. The rising demand for efficient material processing techniques in manufacturing industries is another driving factor for the laser processing market. Additionally, miniaturization of electronics goods is another factor encouraging the adoption of laser technology for production of circuit boards, integrated circuits (ICs), and other electronics components. Increasing environmental concerns, due to mining issues could pose a challenge to the growth of this market.
Different laser technologies such as CO2 laser, solid state lasers, fiber lasers, and excimer lasers are useful for processes such as cutting and marking in small dimensions. Thus, different laser technologies play an important role in the marking process for small electronic components. The industrial growth in the Asia Pacific region is another factor driving the growth of this market. Countries such as China, Japan and South Korea are expected to witness a strong growth in the laser processing market, during the forecast period. This is majorly due to the growing number of automobile and original equipment manufacturing (OEM) industries in these countries.
The report describes the market trends, drivers, restraints, and opportunities of the Laser Processing Market and forecasts the market up to 2020, based on technology, application, machine configuration, vertical, and geography. The segmentation has been done to provide strategic insights for each category, enabling stakeholders across the value chain to gain considerable business intelligence. In geography, the report covers the market of North America, Europe, Asia-Pacific, and RoW (Rest of the World). As of 2013, APAC is the largest market in terms of size. North America, Europe, and RoW are also considered to be promising markets, along with China, Japan, India, Germany, and the Middle East, which provide impetus to the growth of this industry. This report provides a SWOT analysis of the key players in the laser processing industry. The market has been witnessing a series of new product launch announcements and partnerships, across the value chain.
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The major key players in the Laser Processing Market considered for this report included Trumpf Group (Germany), Epilog Laser (U.S.), Coherent, Inc. (U.S.), Rofin-Sinar technologies (U.S.), Newport Corporation (U.S.), Laserstar technologies corporation (U.S.), and IPG Photonics Corporation (U.S.).
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