Industrial laser market size is to grow by USD 2,639.7 million between 2022 and 2027; Market growth is driven by the growing demand from several industries - Technavio

NEW YORK, June 26, 2023 /PRNewswire/ -- The industrial laser market size is set to grow is estimated to grow by USD 2,639.7 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 7.55% during the forecast period. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Technavio offers in-depth market insights that assist global businesses to obtain growth opportunities. Read Sample Report

The report also covers the following areas:

• Industrial Laser Market size
• Industrial Laser Market Trends
• Industrial Laser Market industry analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Aisin Corp., Amonics Ltd., Calmar Laser Inc., FANUC Corp., II VI Inc., IPG Photonics Corp., Jenoptik AG, Laserline GmbH, Lumentum Holdings Inc., MKS Instruments Inc., nLIGHT Inc., Novanta Inc., Nuphoton Technologies Inc., Precitec GmbH and Co. KG, PRIMA INDUSTRIE Spa, TroGroup GmbH, TRUMPF SE Co. KG, Universal Laser Systems Inc., NKT AS, and Hans Laser Technology Industry Group Co. Ltd. are some of the major market participants. The growing demand from several industries. Growing popularity of additive manufacturing or three-dimensional (3D) printing. Increasing need for material processing will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.

Industrial Laser Market 2023-2027: Segmentation

• Type 
• Macro Processing
• Micro Processing
• Power Output
• More than 1.1 KW
• Less than 1 KW
• Geography 
• APAC
• North America
• Europe
• Middle East And Africa
• South America

The market share growth by the macro processing segment will be significant during the forecast period. The macro processing laser segment refers to industrial lasers used for large-area processing of materials, such as cutting thick and heavy materials, welding, and drilling. macro p[processing segment contains different types of lasers, such as CO2 lasers, fibre lasers, and solid-state lasers, used in various industrial applications, from automotive and aerospace manufacturing to shipbuilding and heavy equipment manufacturing. Macro machining lasers are developed for large-scale industrial manufacturing applications where precision and performance are necessary. Generally, these lasers are used for cutting, welding, and drilling thick materials such as metals, plastics, and composites. At more than 1 kilowatt (KW) of power, they are typically more powerful than other types of industrial lasers and can process materials at high speeds with greater accuracy and precision. 

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Some of the major vendors of the industrial laser market in the industry include Aisin Corp., Amonics Ltd., Calmar Laser Inc., FANUC Corp., II VI Inc., IPG Photonics Corp., Jenoptik AG, Laserline GmbH, Lumentum Holdings Inc., MKS Instruments Inc., nLIGHT Inc., Novanta Inc., Nuphoton Technologies Inc., Precitec GmbH and Co. KG, PRIMA INDUSTRIE Spa, TroGroup GmbH, TRUMPF SE Co. KG, Universal Laser Systems Inc., NKT AS, and Hans Laser Technology Industry Group Co. Ltd. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 15+ vendors operating in the market. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. Backed with competitive intelligence and benchmarking, our research reports on the industrial laser market are designed to provide entry support, customer profile & M&As as well as go-to-market strategy support.

Vendor Offerings

• IPG Photonics Corp. - The company offers industrial lasers such as Low power CW fiber lasers, Quasi-CW fiber lasers, and Mid-IR hybrid lasers.
• Jenoptik AG - The company offers industrial lasers such as high-power diode lasers.
• Laserline GmbH - The company offers industrial lasers such as LDF series, and LDM series diode lasers.

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Industrial laser market – Market Dynamics
Key factor driving market growth

The increasing demand from several industries is a major factor driving the industrial laser market growth. The market is seeing substantial growth due to the growing demand for lasers in different industries such as automotive, aerospace, electronics, and healthcare. Other factors driving the growth of the market are the automotive industry using industrial lasers in a variety of applications such as cutting, welding, and marking, lasers provide the precision and speed important to manufacturing processes. Additionally, the aerospace industry uses industrial lasers for a variety of applications including cutting, drilling, and welding of metals and composites. However, industrial lasers are highly precise and quick, making them ideal for manufacturing aircraft parts. Thus, the industrial laser market is going to see positive growth due to the widespread deployment of industrial lasers across multiple industries during the forecast period. 

Leading trends influencing the market 

Government support and initiatives are emerging trends influencing the industrial laser market growth. Government policies are favorable in driving the market as governments around the globe are enforcing policies and incentives to encourage the adoption of industrial lasers in various industries. Governments across the globe are expanding their funding of research and development in the field of industrial lasers. For instance, the European Union announced funding of USD 2.39 billion for the development of advanced technologies, which also includes laser technology, under the Horizon Europe program. Governments offer financial incentives to promote the adoption of industrial lasers. For example, the Small Business Innovation Research (SBIR) program provides funding for small businesses to research and develop laser technology in the US. Further, governments are enforcing policies and standards to guarantee the safe and efficient use of industrial lasers. Therefore, with growing government support and initiatives, the industrial laser market is anticipated to grow during the forecast period. 

Major challenges hindering the market growth

The emission of dangerous gases is a major challenge that may hinder the industrial laser market growth. Generally, industrial lasers are used to melt metals and other materials for manufacturing purposes. This process can lead to emissions of toxic gases such as nitrogen oxides, carbon monoxide, and particulate matter. These gases can have negative effects on both the environment and human health, raising concerns about their use. For instance, a University of Cambridge study found that the use of industrial lasers in metalworking can release fine dust that can cause respiratory and cardiovascular problems. Further, a European Union (EU) Collaborative Research Center has found that melting metals with lasers can release toxic gases such as nitrogen oxides and carbon monoxide. Thus, the discharge of toxic gases during the melting process is a significant problem that requires to be addressed for the industrial laser market to continue growing in a sustainable manner. Therefore, such emissions are likely to hinder the growth of the market during the forecast period.

Industrial Laser Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist industrial laser market growth during the next five years
• Estimation of the industrial laser market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the industrial laser market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of industrial laser market vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Power Output
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global industrial laser market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global industrial laser market 2017 - 2021 ($ million)

• 4.2 Type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.3 Power Output Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Power Output Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments 
• Exhibit 30: Chart on Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type 
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 Macro processing - Market size and forecast 2022-2027
• Exhibit 34: Chart on Macro processing - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Macro processing - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Macro processing - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Macro processing - Year-over-year growth 2022-2027 (%)

• 6.4 Micro processing - Market size and forecast 2022-2027
• Exhibit 38: Chart on Micro processing - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Micro processing - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Micro processing - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Micro processing - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Type 
• Exhibit 42: Market opportunity by Type ($ million)
• Exhibit 43: Data Table on Market opportunity by Type ($ million)

7 Market Segmentation by Power Output

• 7.1 Market segments 
• Exhibit 44: Chart on Power Output - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Power Output - Market share 2022-2027 (%)

• 7.2 Comparison by Power Output 
• Exhibit 46: Chart on Comparison by Power Output
• Exhibit 47: Data Table on Comparison by Power Output

• 7.3 More than 1.1 kW - Market size and forecast 2022-2027
• Exhibit 48: Chart on More than 1.1 kW - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on More than 1.1 kW - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on More than 1.1 kW - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on More than 1.1 kW - Year-over-year growth 2022-2027 (%)

• 7.4 Less than 1 kW - Market size and forecast 2022-2027
• Exhibit 52: Chart on Less than 1 kW - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Less than 1 kW - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Less than 1 kW - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Less than 1 kW - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Power Output 
• Exhibit 56: Market opportunity by Power Output ($ million)
• Exhibit 57: Data Table on Market opportunity by Power Output ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 59: Chart on Market share by geography 2022-2027 (%)
• Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 61: Chart on Geographic comparison
• Exhibit 62: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 63: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027
• Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027
• Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 75: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
• Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 87: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 91: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027
• Exhibit 95: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027
• Exhibit 99: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ million)
• Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 108: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 109: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 110: Matrix on vendor position and classification

• 12.3 Calmar Laser Inc. 
• Exhibit 111: Calmar Laser Inc. - Overview
• Exhibit 112: Calmar Laser Inc. - Product / Service
• Exhibit 113: Calmar Laser Inc. - Key offerings

• 12.4 Hans Laser Technology Industry Group Co. Ltd.
• Exhibit 114: Hans Laser Technology Industry Group Co. Ltd. - Overview
• Exhibit 115: Hans Laser Technology Industry Group Co. Ltd. - Product / Service
• Exhibit 116: Hans Laser Technology Industry Group Co. Ltd. - Key news
• Exhibit 117: Hans Laser Technology Industry Group Co. Ltd. - Key offerings

• 12.5 II VI Inc. 
• Exhibit 118: II VI Inc. - Overview
• Exhibit 119: II VI Inc. - Business segments
• Exhibit 120: II VI Inc. - Key news
• Exhibit 121: II VI Inc. - Key offerings
• Exhibit 122: II VI Inc. - Segment focus

• 12.6 IPG Photonics Corp. 
• Exhibit 123: IPG Photonics Corp. - Overview
• Exhibit 124: IPG Photonics Corp. - Product / Service
• Exhibit 125: IPG Photonics Corp. - Key offerings

• 12.7 Jenoptik AG 
• Exhibit 126: Jenoptik AG - Overview
• Exhibit 127: Jenoptik AG - Business segments
• Exhibit 128: Jenoptik AG - Key news
• Exhibit 129: Jenoptik AG - Key offerings
• Exhibit 130: Jenoptik AG - Segment focus

• 12.8 Laserline GmbH 
• Exhibit 131: Laserline GmbH - Overview
• Exhibit 132: Laserline GmbH - Product / Service
• Exhibit 133: Laserline GmbH - Key offerings

• 12.9 Lumentum Holdings Inc. 
• Exhibit 134: Lumentum Holdings Inc. - Overview
• Exhibit 135: Lumentum Holdings Inc. - Business segments
• Exhibit 136: Lumentum Holdings Inc. - Key offerings
• Exhibit 137: Lumentum Holdings Inc. - Segment focus

• 12.10 MKS Instruments Inc. 
• Exhibit 138: MKS Instruments Inc. - Overview
• Exhibit 139: MKS Instruments Inc. - Business segments
• Exhibit 140: MKS Instruments Inc. - Key offerings
• Exhibit 141: MKS Instruments Inc. - Segment focus

• 12.11 NKT AS 
• Exhibit 142: NKT AS - Overview
• Exhibit 143: NKT AS - Business segments
• Exhibit 144: NKT AS - Key offerings
• Exhibit 145: NKT AS - Segment focus

• 12.12 nLIGHT Inc. 
• Exhibit 146: nLIGHT Inc. - Overview
• Exhibit 147: nLIGHT Inc. - Business segments
• Exhibit 148: nLIGHT Inc. - Key offerings
• Exhibit 149: nLIGHT Inc. - Segment focus

• 12.13 Novanta Inc. 
• Exhibit 150: Novanta Inc. - Overview
• Exhibit 151: Novanta Inc. - Business segments
• Exhibit 152: Novanta Inc. - Key news
• Exhibit 153: Novanta Inc. - Key offerings
• Exhibit 154: Novanta Inc. - Segment focus

• 12.14 PRIMA INDUSTRIE Spa 
• Exhibit 155: PRIMA INDUSTRIE Spa - Overview
• Exhibit 156: PRIMA INDUSTRIE Spa - Business segments
• Exhibit 157: PRIMA INDUSTRIE Spa - Key offerings
• Exhibit 158: PRIMA INDUSTRIE Spa - Segment focus

• 12.15 TroGroup GmbH 
• Exhibit 159: TroGroup GmbH - Overview
• Exhibit 160: TroGroup GmbH - Product / Service
• Exhibit 161: TroGroup GmbH - Key offerings

• 12.16 TRUMPF SE Co. KG 
• Exhibit 162: TRUMPF SE Co. KG - Overview
• Exhibit 163: TRUMPF SE Co. KG - Business segments
• Exhibit 164: TRUMPF SE Co. KG - Key offerings
• Exhibit 165: TRUMPF SE Co. KG - Segment focus

• 12.17 Universal Laser Systems Inc. 
• Exhibit 166: Universal Laser Systems Inc. - Overview
• Exhibit 167: Universal Laser Systems Inc. - Product / Service
• Exhibit 168: Universal Laser Systems Inc. - Key offerings

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 169: Inclusions checklist
• Exhibit 170: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 171: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 172: Research methodology
• Exhibit 173: Validation techniques employed for market sizing
• Exhibit 174: Information sources

• 13.5 List of abbreviations 
• Exhibit 175: List of abbreviations

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