Laser Processing Market, By Product Type(Gas Lasers, Solid State Lasers, Fiber Lasers, Others), By Process(Material Processing, Marking and Engraving, Micro-Processing), By End-Use Industry(Automotive, Aerospace, Original Equipment Manufacturer (OEM), Electronics and Micro-Electronics, Medical Devices and Treatment, Packaging), By Region(North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published In : Jan 2023

Code : CMI4304

Pages :135

Formats :

Excel and PDF

Industry : Semiconductors

Laser Processing MarketSize and Trends

Laser Processing Market Report Coverage

Report Coverage Details Base Year: 2021 Market Size in 2021: US$ 19,162.9 Mn

Market Trends

Emerging applications in laser technologies can provide major business opportunities

Apart from industrial material processing, medical and marking applications, laser technology is expected to be used in numerous other applications such as optical disc data storage, laser microchemistry, dental treatment, and others. Lasers are expected to be widely used in the near future to fulfill data storage requirements. Laser technology can be used for volumetric data storage with higher efficiency than Blu Ray or high definition digital versatile discs (HD DVDs) and high definition three dimensional (HD3D) displays. The use of laser technology in disc storage application improves the audio and video quality as compared to the conventional discs.

Increasing use of ultra-short lasers for industrial processes

Ultra-short lasers are lasers that generate laser pulse of width ranging from femtoseconds to pico-seconds. These lasers are increasingly being used for industrial applications such as laser cutting, drilling, welding, and marking and engraving. As these pulses are shorter, no heat is transferred to the surrounding materials and hence no damage is done to the material. The ultra-short lasers with pulse width in pico-seconds can generate power density of around 10 Giga watts per square millimeter (GW/mm2).

Figure 1. Laser Processing Market, Revenue Share (%), By Country, 2021

Figure 2: Laser Processing Market (US$ Mn) Analysis and Forecast, 2022 - 2030

Laser Processing Market was valued at US$ 19,162.9 Mn in 2021 and is expected to reach US$ 46,642.6Mn by 2030, growing at a CAGR of 10.0% between 2022 and 2030.