Industrial Lasers Systems Market Worth $36.51 Bn, by 2026 at
- Eco-friendly technology, high beam quality and a lower cost of ownership, and acceptance of automobile and mobile electronics applications have propelled the growth of the global industrial lasers systems market
PORTLAND, Oregon, March 3, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Industrial Lasers Systems Market by Type (Macro processing, and Micro processing), Power (Less than 1 kW, and More than 1.1 kW), and Application (Cutting, Welding, Non-metal processing, Additive manufacturing, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global industrial lasers systems industry garnered $20.12 billion, and is anticipated to reach $36.51 billion by 2026, registering a CAGR of 7.5% from 2019 to 2026.
Driving factors for the market
Eco-friendly technology, high beam quality and a lower cost of ownership, and acceptance of automobile and mobile electronics applications have boosted the growth of the global industrial lasers systems market. However, laser hazards and lower cutting speed while processing thicker materials hamper the market. On the contrary, technological advancement with respect to fiber lasers is expected to create lucrative opportunities in the near future.
Macro processing segment held the largest share
The macro processing segment held the largest share in 2018, contributing to more than three-fourths of the global industrial lasers systems market. This is due to the rise in its popularity as a labeling medium. However, the micro processing segment is expected to portray the largest CAGR of 8.1% during the forecast period. This is attributed to the increase in miniaturization in the electronics and hardware sector, and ongoing R&D activities regarding the use of fiber lasers as a milling tool in the aerospace industry.
Download Sample Report: https://www.alliedmarketresearch.com/request-sample/6343
Less than 1 kW segment to manifest fastest growth through 2026
The less than 1 kW segment is expected to register the fastest CAGR of 8.0% during the forecast period. This is attributed to the rise in implementation of industrial lasers systems for micro-processing applications in the semiconductor industry, medical industry, and others. However, the more than 1.1 kW segment dominated in 2018, accounting for more than two-thirds of the global industrial lasers systems market. The lasers with power capacity more than 1.1kW are effective for applications such as cutting, welding, and others, in various end-user industries that include automotive and chemical, which drives the growth of the segment.
Asia Pacific dominated the market, North America to grow at moderate pace
The global industrial lasers systems market across Asia Pacific held the largest share in 2018, contributing to nearly three-fifths of the market. The increase in demand for fiber lasers in the electronics and automotive industry in this region drives the growth of industrial laser systems market However, the market across LAMEA is projected to manifest the fastest CAGR of 8.8% during the forecast period, owing to the advantages associated with industrial lasers system such as less operating cost, enhanced productivity, flexible operational activities, and production of good quality products. On the other hand, North America is estimated to register CAGR of 7.2% from 2019 to 2026.
Purchase Report Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/6343
Major market players
- NKT Photonics A/S
- Quantel Group
- Toptica Photonics AG
- Coherent Inc.
- IPG Photonics Corporation
- Jenoptik Laser GmbH
- CY Laser SRL
- Amonics Ltd.
- Apollo Instruments Inc
Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access
Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.
Avenue Library Subscription | Request for 14 days free trial of before buying:
Pre-book Offer 12% Discount:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free (USA/Canada):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Follow us on: https://www.linkedin.com/company/allied-market-research