The global laser processing market is projected to register a 7.3% CAGR during the forecast period, 2020–2026.
Altec GmbH (Germany), ALPhANOV (France), Amada Co., Ltd (Japan), Bystronic Laser AG (Switzerland), Coherent Inc. (US), Epilog Laser, Inc. (US), Eurolaser GmbH (Germany), Han's Laser Technology Industry Group Co., Ltd. (China), IPG Photonics Corporation (US), Newport Corporation (MKS Instruments, Inc.) (US), Prima Industries (Italy), LaserStar Technologies Corporation (US), The Needham Group (Needham Coding) (England), Jenoptik Laser GmbH (Germany), Q-Peak Inc. (US), ROFIN-SINAR Technologies Inc. (US), SEI Laser (Italy), Trumpf GmbH + Co. KG (Germany), Universal Laser Systems, Inc. (Japan), Xenetech Global Inc. (US), Trotec Laser GmbH (Austria), FOBA (US), and Mitsubishi Electric (Japan) are some of the key players in the global Laser Processing Market. The prominent players in the global market focus on innovating and investing in research development to offer a cost-effective product portfolio. There have been recent mergers and acquisitions among the key players, which is a strategy of business entities for strengthening their reach to the customers.
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Global Laser Processing Market has been segmented based on Product, Laser Type, Application, End-User, and Region.
By product, the laser processing market has been segmented into gas lasers, solid-state lasers, fiber lasers, and others.
By laser type, the laser processing market has been segmented into a fixed beam, moving beam, and hybrid beam.
By application, the laser processing market has been segmented into cutting, marking, welding, drilling, engraving, additive manufacturing, and others.
By the end-user, the laser processing market has been segmented into automotive, aerospace defense, manufacturing, semiconductor electronics, medical life sciences, packaging, oil gas, and others.
By region, the laser processing market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
The global laser processing market is expected to grow at a significant rate in the future. The geographical analysis of the laser processing market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.
As per MRFR analysis, North America accounted for the largest share in 2019 for the global laser processing market. Technological advancements and increasing automation by the manufacturing industries to enhance their product quality are some of the factors resulting in the market growth in this region. The region has witnessed a major demand for laser processors from the aerospace defense and automotive industries, which is further expected to propel the market growth.
Europe accounts for the second-largest share in the laser processing market. Germany holds the largest share for the laser processing market in 2019 due to the presence of the automobile industry in the country and increasing focus on opting lightweight materials for the manufacturing of the automotive parts. On the other hand, France is expected to be the fastest-growing country in the region during the forecast period.
Asia-Pacific is expected to be the fastest-growing regional market during the forecast period. China accounts for the largest market share in the region for the laser processing market due to increasing automation across the country. Japan has witnessed a surge in demand for laser processing machines from the automotive industry. Additionally, the demand for laser processors from microelectronics and other manufacturing facilities has fueled the market growth in Asia-Pacific.
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