Laser Processing Global Market to Reach $23.19 Billion by 2026 at a 9.02% CAGR

DUBLIN, Nov. 16, 2022 /PRNewswire/ -- The "Laser Processing Global Market Report 2022" report has been added to  ResearchAndMarkets.com's offering.

The global laser processing market is expected to grow from $14.73 billion in 2021 to $16.42 billion in 2022 at a compound annual growth rate (CAGR) of 11.46%. The laser processing market is expected to reach $23.19 billion in 2026 at a CAGR of 9.02%.

The main types of laser processing are gas laser, liquid laser, solid laser, and other types. The gas laser refers to a laser that generates light by passing an electric current through a gas via a process known as population inversion. Helium-neon lasers are often utilized in physics labs and other educational settings and tend to be the least expensive. The main applications of laser processing include cutting, welding, drilling, micro processing, marking and engraving, and other applications. The end-users of laser processing include aerospace and defense, automotive, healthcare, machine tools, architecture, electronics and microelectronics, and other end-user industries.

Asia Pacific was the largest region in the laser processing market in 2021, and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the laser processing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The increasing applications of lasers in medical devices and surgeries are significantly contributing to the growth of the laser processing market. Medical lasers are utilized in medical procedures in various specialities, including ophthalmology, dermatology, plastic surgery, and dental surgeries, as well as in intraabdominal, cardiothoracic, neurologic, gynecologic, and urologic procedures. Lasers facilitate a source of focused, coherent light capable of transmitting intense energy to a precise location.

For instance, in 2022, according to a report published by Biospace, a leading online source for biotechnology jobs, cataract statistics in the U.K., 330,000 cataract operations are conducted every year in the country. Moreover, 30% of people aged 65 years and above are expected to have a cataract in one or both eyes.

In 2020, in the U.S., around 718,000 surgeries are projected to be performed. In Europe, around 757,000 laser eye surgeries are likely to be performed by 2020. Therefore, the increasing usage of laser in medical devices and surgeries is expected to boost the demand for laser processing solutions during the forecast period.

Technological advancements are a key trend gaining popularity in the laser processing market. Many companies operating in laser processing are developing new products or new technologies to meet industry demand and strengthen their market position across the globe.

For instance, in September 2021, TRUMPF, a German-based industrial machine manufacturing company launched 2D laser cutting machine, TruLaser 1000 which guaranteed up to 70% feed rate and with its effective cooling, it produces with high processing quality. Due to its ease of use and a wide variety of materials, it is ideal for beginners and companies who want to increase their production capacity.

Scope
Markets Covered:

1) By Type: Gas Laser; Liquid Laser; Solid Laser; Other Types
2) By Application: Cutting; Welding; Drilling; Microprocessing; Marking and Engraving; Other Applications
3) By End-Use Industry: Aerospace and Defense; Automotive; Healthcare; Machine Tools; Architecture; Electronics and Microelectronics; Other End User Industries

Key Topics Covered:

1. Executive Summary

2. Laser Processing Market Characteristics

3. Laser Processing Market Trends And Strategies

4. Impact Of COVID-19 On Laser Processing

5. Laser Processing Market Size And Growth

6. Laser Processing Market Segmentation

7. Laser Processing Market Regional And Country Analysis

8. Asia-Pacific Laser Processing Market

9. China Laser Processing Market

10. India Laser Processing Market

11. Japan Laser Processing Market

12. Australia Laser Processing Market

13. Indonesia Laser Processing Market

14. South Korea Laser Processing Market

15. Western Europe Laser Processing Market

16. UK Laser Processing Market

17. Germany Laser Processing Market

18. France Laser Processing Market

19. Eastern Europe Laser Processing Market

20. Russia Laser Processing Market

21. North America Laser Processing Market

22. USA Laser Processing Market

23. South America Laser Processing Market

24. Brazil Laser Processing Market

25. Middle East Laser Processing Market

26. Africa Laser Processing Market

27. Laser Processing Market Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions In The Laser Processing Market

29. Laser Processing Market Future Outlook and Potential Analysis

30. Appendix

Companies Mentioned

• Coherent, Inc.
• TRUMPF, Inc.
• Han's Laser
• IPG Photonics
• Jenoptik Group

For more information about this report visit https://www.researchandmarkets.com/r/fotlrm

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