Laser Processing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

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Laser Processing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

Status : January, 2023 | Semiconductor & Electronics

Report Digest

Laser Processing Market: Overview

The laser processing market has been anticipated to experience innumerable growth opportunities in the years to come. The market can be attributed mainly to the increasing preference of different end-user industries for material processing that is based on laser compared to conventional approaches. In addition to this, rising demand for genuine and high-quality end-products and growing technological advancements in the medical industry are also propelling growth avenues in the market. There has been an increasing demand for the miniaturization of microelectronic devices to help create market opportunities in the forthcoming years.

In recent years, microelectronic devices have been shrinking at a rapid speed that is also adding to growth impetus in the global processing market. Along with this factor, an increasing shift to laser-based material processing instead of traditional methodologies is also predicted to drive growth impetus in the market during the forecast period.

Laser Processing Market: Key Trends

The recent years are witnessing a noticeable growth impetus in the laser processing market. The market growth has primarily been attributed to the rising need for high-power lasers that come with better beam quality.

The laser technology has been used for marking uses, medicinal, and industrial material processing. Along with these uses, the technology has also been employed for a wide variety of other applications, such as dental treatment, laser microchemistry, optical disc data storage, and others. In order to meet the requirements of data storage, lasers have been used at an increased rate. This, laser technology is more efficient compared to HD DVDs (high definition digital versatile discs) or Blu Ray. Compared to traditional discs, laser technology has been used in disc storage applications to improve the quality of audio and visual. Thus, based on these factors, the market has been predicted to grow at a noteworthy speed in the years to come.

There have been some noticeable technological advances taking place in the medical industry that is projected to propel demand opportunities in the market during the forecast period. Green laser devices for projection applications, increasing demand for mobile electronic devices, and increased disc laser use are also driving expansion avenues in the market.

Laser Processing Market: Competitive Dynamics and Key Developments

The key players dealing in the laser processing market have been incorporating various development strategies to drive growth avenues in the upcoming years. Some of these market strategies include mergers and acquisitions, technological partnerships and collaborations, novel product introductions and approvals, R & D activities, strategic initiatives, training services, and regional expansion are adopted by these prominent players to establish a stronghold in the market.

For instance, Trumpf, a Germany based company has acquired a minority stake in a France-based startup in laser technology named, GLOphotonics in January 2020.

Coherent, the U.S. based company has launched the switchable adjustable ring mode fiber laser in November 2019. It has the capability to provide power to two separate workstations or processes.

The key players in the laser processing market are:

  • Coherent
  • Lumibird
  • Trumpf
  • LaserStar  
  • Han’s Laser
  • Gravotech
  • IPG Photonics
  • Lumentum
  • Jenoptik

Laser Processing Market: Regional Assessment

The laser processing market has been divided into Europe, Asia Pacific, North America, and the Rest of the World on the basis of geographical locations. The Asia Pacific region has been estimated to hold the largest share in the market revenue. This market dominance has been on the back of rising adoption of the laser processing solution in some countries, for example, India, South Korea, Japan, and China. In addition to this, growth in the manufacturing and electronics sectors, rising investments in different R & D activities for technological advancements, and high population density are some of the other factors that are propelling expansion avenues in the regional market.

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5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?