Laser Processing Market Insights: Technology Advancements and Growth Drivers | Exactitude Consultancy

The globally laser processing market was valued at USD 26.51 billion in 2024 and is expected to exceed USD 48.03 billion by 2031, rising at an 8.34% CAGR from 2024 to 2031.

/EIN News/ -- Luton, Bedfordshire, United Kingdom, Nov. 22, 2024 (GLOBE NEWSWIRE) -- Laser systems, which use electromagnetic radiation for material processing, are becoming increasingly integral in industries such as manufacturing, medical devices, and surgery. The growing demand for lasers is largely driven by their precision, efficiency, and versatility compared to traditional material processing methods like mechanical tools or electrical equipment.

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The manufacturing sector, in particular, is rapidly adopting laser technology due to its significant advantages, including:

• Precision and Accuracy: Laser systems can focus on fine details with pinpoint accuracy, reducing material waste and enabling intricate designs.
• Non-contact Process: Unlike mechanical methods, laser systems do not require physical contact with the material, leading to reduced wear and tear on tools.
• Increased Efficiency: Laser processing is faster than traditional methods, improving production rates while maintaining high quality.
• Minimal Heat-Affected Zone: The small thermal impact during laser processing reduces the risk of material damage, making it ideal for delicate or high-precision tasks.

Applications of lasers are broad and encompass cutting, engraving, welding, drilling, marking, and micro-machining, among others. These systems offer precision far beyond what conventional tools such as saws or drill bits can achieve, allowing for more detailed and complex designs.

In sectors like sculpture creation, trophy design, and prototyping, laser technology has replaced traditional, labor-intensive methods. This transition has not only improved precision and productivity but also lowered costs by reducing the need for skilled labor and shortening production timelines.

The global market for laser systems is expected to expand significantly, driven by advancements in nanofabrication technology and the increasing adoption of lasers in industries such as automotive manufacturing, electronics, and healthcare. Additionally, lasers are becoming more prevalent in medical devices, with applications ranging from surgical tools to diagnostic instruments, contributing to overall market growth.

In 2023, the fiber lasers segment dominated the laser processing market, accounting for a significant share. Fiber lasers, a type of solid-state laser, are known for their high power output, energy density, and superior reliability. These lasers are widely used in applications such as cutting, welding, engraving, and marking, particularly for materials requiring high precision. Their compact design, energy efficiency, and adaptability make them ideal for integration into automated manufacturing systems. As advancements in fiber laser technology continue, these systems are also gaining traction in fields like additive manufacturing and microprocessing, further enhancing their market presence.

The hybrid configuration segment is expected to hold the largest market share during the forecast period. Hybrid systems combine laser technology with other complementary manufacturing techniques, such as milling, drilling, and waterjet cutting, to improve processing efficiency. Unlike traditional moving beam systems, hybrid configurations offer a constant beam delivery path length, which simplifies the beam delivery system and enhances overall system performance. This integration of multiple processes into a single system provides significant advantages in terms of flexibility, speed, and precision, contributing to the growing adoption of hybrid solutions across industries.

In terms of application, the marking and engraving segment is expected to experience the highest compound annual growth rate (CAGR) during the forecast period. Lasers are increasingly used in marking and engraving due to their flexibility, high precision, and maintenance-free operation. These features make lasers an attractive option for various end-user industries, including electronics, medical devices, aerospace, automotive, consumer products, gifts and trophies, and food and beverage. The ability to apply intricate designs and personalized markings efficiently and cost-effectively is driving the demand for laser-based marking and engraving solutions.

Asia Pacific Laser Processing Market Size and Growth 2024 to 2031

The Asia Pacific region is projected to dominate the laser processing market, holding more than 40% of the global revenue share in 2023, with substantial growth expected over the next decade. China, in particular, is anticipated to emerge as a leading consumer of industrial lasers, materials processing, and micro-processing systems. The rapid expansion of original equipment manufacturers (OEMs) in countries like India, South Korea, Japan, and China, along with the growth of the automotive industry, are key drivers of this regional market surge. Additionally, the increasing adoption of laser systems across various applications, coupled with government regulations mandating permanent, clear markings on consumer products, is expected to further boost demand for laser processing technologies.

Europe is anticipated to be the fastest-growing market in the laser processing sector, driven primarily by the increasing use of lasers in medical devices and applications. The rapid advancement of nanofabrication technology is expected to continue aiding the expansion of the laser market. Furthermore, the manufacturing industry's growing preference for laser technologies over traditional material processing methods, owing to the former's superior precision, speed, and versatility, will contribute to sustained market growth. Regulatory frameworks governing laser use in product marking and engraving will further drive demand across various industries.

The automotive sector is one of the key industries fueling the growth of laser processing. With the increasing demand for high-power carbon dioxide lasers in the manipulation of automotive components, laser technology is becoming integral at every stage of the car manufacturing process. For example, major automobile manufacturers such as Volkswagen employ hundreds of high-power lasers across their global assembly plants. The shift from traditional methods like resistance spot welding to laser-welded sheet assemblies is expected to be a key market driver, as laser processing offers faster, more efficient, and more precise results.

Laser processing offers numerous advantages over traditional material processing methods. These include high precision, no wear and tear on the laser beam, and the ability to produce distortion-free cuts. The precision of laser cutting is particularly beneficial as the demand for miniaturization in microelectronics grows. Laser welding also offers higher weld strength due to its thin, deep penetration and excellent depth-to-width ratio. As these advantages continue to be recognized, the adoption of laser processing in various industries, including electronics, automotive, and manufacturing, is expected to rise significantly during the forecast period.

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Laser Processing Market Companies

• Alpha Nov laser
• Coherent Inc.
• IPG Photonics Corporation
• Altec GmbH
• Universal Laser Systems, Inc.
• Xenetech Global Inc
• Newport Corporation
• Amada Co., Ltd.
• Bystronic Laser AG
• Epilog Laser, Inc.
• Eurolaser GmbH
• Han's Laser Technology Industry Group Co., Ltd.
• IPG Photonics Corporation
• Newport Corporation (MKS Instruments, Inc.)
• LaserStar Technologies Corporation
• Trumpf GmbH + Co. KG

Recent Developments:

• TRUMPF and ZEISS Collaboration (January 2024): A partnership between TRUMPF, ASML, and ZEISS resulted in the creation of a CO₂ laser system with a peak power exceeding 120 kW. This laser system is capable of processing more than 100 substrates per hour, marking a significant advancement in industrial and scientific applications
• A.R.C. Laser's Precision Advancements (February 2024): A.R.C. Laser GmbH introduced new precision laser technologies in the medical sector, aiming to redefine accuracy in diagnostics and therapeutic treatments. These systems focus on non-invasive techniques, which reduce recovery times​
• LightWELD XR by IPG Photonics (February 2024): IPG Photonics released the LightWELD XR handheld laser welding and cleaning system, offering improved energy efficiency and enhanced material handling capabilities. The new system provides superior welding precision, broadening its use across industrial applications
• EU-Funded Laser Research Facilities (March 2024): The European Union announced the funding of three large laser research facilities, designed to advance laser technologies in particle acceleration, drug discovery, and scientific research. These facilities are expected to support the development of high-power laser systems
• Laser Induced Damage Threshold (LIDT) Research by LASEROPTIK GmbH (March 2024): LASEROPTIK GmbH, in collaboration with ELI-ERIC, developed new methods to improve the LIDT of laser optics. This research is crucial for enhancing the durability of optical components in high-power systems used in scientific and industrial settings

Segments Covered in the Report

By Product

• Gas
• Solid-state
• Fiber

By Process

• Material Processing
• Marking & Engraving
• Micro-processing

By Application

• Automotive
• Aerospace
• Machine Tools
• Electronics and Microelectronics
• Medical
• Packaging

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa

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