Laser Processing Market Share, Trends & Scope, Product Estimates & Strategy Framework To 2013 - 2024: Million Insights

In the year 2015 the global laser processing market was sized at $10.36 billion and is estimated to grow at a significant rate due to the increase in material processing applications. Precise and accurate operations of industrial processes are achieved by implementing the laser technology in manufacturing.

The regulations and the norms set by the governments are expected to positively affect the growth of laser processing market in next few years. Due to their increased usage in various applications ranging from marking, cutting to welding, drilling, engraving the technology all set to witness tremendous growth in during the forecast period. The strict directives set by the governments on the usage of laser technology in marking and its increased use in the growing field of medical surgeries and devices is expected to drive the laser processing market in the near future.

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Product Insights

The products related to laser technology consist of fiber, gas and solid-state lasers. Gas segment consists of nitrogen, copper, carbon monoxide, carbon dioxide, helium-neon and argon-ion lasers. Solid state lasers are further divided into YAG or Nd lasers, Q-switched Nd lasers, small-diode pumped Nd, YVO4 lasers and large sized lasers in end or side pumped configuration. Manufacturers are benefitted by the use of fiber lasers with their use in the manufacturing technology which acts as a driver fir the market. Varied field applications in the fields such as aerospace, machine tools, automotive, medical and packaging is estimated to fuel the global laser processing market over the forecast period.

Process Insights

Laser processing segment consists of marking and engraving, material processing and micro-processing. This section comprises of all the major factors of laser and material processing involving implementation of laser beam welding, hybrid processes, micro drilling, surface modifications, ablation of bulk material and coatings, cutting & machining direct manufacturing and so on.

Crude oil extraction that involves mainly mining and drilling activities is largely benefitted by laser technology. Aerotech offers development in main areas such as mechanics, laser controls and controls. They also aid the system integrators, OEMs, end users using processes such as cutting systems, marking, welding, etching and marking systems.

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