According to the recent study the industrial laser system market is projected to reach an estimated $32.2 billion by 2028 from $21.6 billion in 2023, at a CAGR of 8.3% from 2023 to 2028. Growth in this market is primarily driven by continuous adoption of industrial IoT, increasing demand for material processing across various end use industries, and widespread usage of high-power UV lasers in the production of semiconductors, flat panel displays, lithium ion batteries, and LEDs for consumer electronics and clean energy.
A more than 150 – page report is developed to understand trends, opportunities and forecast in industrial laser system market by laser type (fiber, solid-state, CO2, and others), application (cutting, welding, marking, drilling, and others), end use industry (semiconductor & electronics, automotive, aerospace & defense, medical, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
“Fiber market is expected to remain the largest segment during the forecast period.”
Based on laser type, the industrial laser system market is segmented into fiber, solid-state, CO2, and others. Lucintel forecasts that the fiber market is expected to remain the largest segment as they offer exceptional performance with minimal maintenance and requires less cooling to operate and are energy efficient.
“Within the industrial laser system market, the semiconductor & electronic segment is expected to remain the largest technology”
Based on technology the semiconductor & electronic segment is expected to witness the highest growth over the forecast period due to the enormous usage of laser in the production and processing of semiconductors.
“Asia pacific will dominate the industrial laser system market in near future”
APAC will remain the largest region due to the increasing investments for advancement in laser technology by major players and huge demand for this system among various end use industries, such as metal processing, machinery manufacturing, medical, and defense of the region.
Major players of industrial laser system market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Amonics, Apollo Instruments, Coherent, IPG Photonics, Jenoptik Laser, and CY Laser SRL are among the major industrial laser system providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]