According to the latest report, titled “Industrial laser Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast’ the India facility management market is expected to exhibit a Huge CAGR during the Forecast Period. The global industrial lasers market size stood at USD 5.66 billion in 2018 and is projected to reach USD 14.52 billion by 2026, exhibiting a CAGR of 12.4% during the forecast period
This COVID-19 analysis of the report includes COVID-19 IMPACT on the production and, demand, supply chain. This report provides a detailed historical analysis of the global Industrial laser Market by region/country and subsectors. The report covers the revenue, sales volume, price, historical growth, and future perspectives in the Industrial laser Market.
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A few top players in the industry are–
- Lumentum Operations LLC
- Bystronic Laser AG
- Newport Corporation.
- Calmar Laser
- nLight, Inc.
- JENOPTIK AG
- IPG Photonics Corporation
- Coherent Inc.
- Amonics Ltd.
The report gives a precise view of the future perspective and present market demands. The report also includes facts and statistics, tables & figures referred to in this report for strategic planning which leads to the success of the organizations. In this market report, the market share that various manufacturers hold in the global Industrial laser Market and the market concentration is described in the report.
On the basis of Geography, the Global Industrial laser Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to hold a considerable share in the global Industrial laser Market. Due to increasing investment for research and development process and adoption of solutions in the region whereas Asia-Pacific is expected to grow at a faster pace during the forecasted period.
The growing number of Industrial laser Market players across regions is expected to drive market growth further. Moreover, increasing investments by prominent vendors in product capabilities and business expansion is expected to fuel the market during the study period. Many market players are finding lucrative opportunities in emerging economies like China and India, where the large populations are coupled with new innovations in numerous industries.
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Flexibility and Time-efficiency Properties of Laser Systems Stands as Major Growth Driver for Market
Laser systems provide various advantages such as improved productivity, time-efficiency, and flexibility. Thus, laser systems are widely on-demand from material processing especially across various applications such as aerospace, construction, industrial machinery, automotive, and others. This is a crucial industrial laser market growth factor. In addition, the transition of the automotive industry towards e-mobility will also help to increase the industrial laser market size in the forecast period. Moreover, there is a rise in demand for welding applications that further propel the growth of the automotive sector. This ultimately is expected to promote the overall industrial laser market growth during the forecast period. Furthermore, the advent of 3D manufacturing into automobiles will also help to attract high revenue in the foreseeable future.
An overview of the Industrial laser Market’s regional outlook:
The market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA). North America is further subdivided into countries such as the United States and Canada. The Europe region is further divided into the United Kingdom, France, Germany, Italy, Spain, Russia, and the Rest of Europe. China, Japan, South Korea, India, Australia, South East Asia, and the rest of Asia Pacific are subdivided into Asia Pacific. The Latin America region is separated into Brazil, Mexico, and the rest of Latin America, whereas the MEA region is divided into GCC, Turkey, South Africa, and the rest of MEA.
Asia Pacific to Emerge Dominant on Account of Increasing Demand for Consumer Electronics in China
Geographically, Asia Pacific holds a majority of the global industrial laser source market share. This is attributable to the high penetration of laser into the Chinese market. In 2018, Asia Pacific Industrial Lasers Market size was USD 3.12 billion. The rise in adoption and manufacturing of fiber laser equipment in the manufacturing sector of China is expected to promote the regional market growth. Besides this, the surging demands for consumer electronics are also expected to help earn high industrial laser source market revenue in the forecast duration.
The Chinese government declared a large scale foreign investment restriction on the regional automotive industry in the year 2018. The reduction of foreign investment regulations on new energy and special purpose will be followed by the advent of passenger cars and commercial vehicles by the end of 2022. Thus, the aforementioned government initiatives are likely to attract high investments and thus boost the overall industrial laser market growth in the forecast period.
On the other side, the rise in demand for industrial laser from various applications such as welding, marking, metal cutting, and others is prognosticated to propel industrial laser market growth in Europe. Moreover, the surge in demand for industrial lasers from the semiconductor industry is having a positive influence on the growth of the market in the Rest of the world.
Players Investing Heavy Amount for Research and Development of Innovative Industrial Lasers
Major players operating in the Industrial Lasers Market are emphasizing on strengthening their product portfolio and expanding their business to various geographies. Thus, players are adopting merger and acquisition strategies along with innovative product development and investment in research and development activities for attracting major revenue in the forthcoming years. To cite an example, the FOBA AG company developed the lightest and smallest fiber laser head in December 2019 for laser marking applications.
- What is the driving factor for the growth of the Industrial laser Market?
- How will the COVID-19 pandemic impact the demand and consumption of the Industrial laser Market?
- What is the major application area of the Industrial laser Market?
- Who are the Industrial laser Market manufacturers across the globe?
- Which geographical location is dominant in the Industrial laser Market?
- Which are the top industry players in the Industrial laser Market?
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