Revolutionizing Manufacturing: The Booming Market for Laser Drilling, Cutting, Marking, and Engraving
SkyQuest projects that the laser drilling, cutting, marking and engraving market will attain a value of USD 7.65 billion by 2030, with a CAGR of 6.9% over the forecast period (2023-2030). Laser marking systems are gaining popularity owing to their higher accuracy, readability, minimal loss and lower labor costs than traditional marking methods. For instance, laser marking systems take less than a second to create a 2D design compared to 5 seconds for dot peen marking. This results in substantial time savings for companies that need to mark or engrave numerous objects.
Westford, USA, June 20, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the global Laser Drilling, Cutting, Marking and Engraving market is projected to grow, driven by the increasing demand for high-quality and authentic products and the trend toward laser-based material processing over traditional methods are owing to the shrinking of microelectronic devices. Furthermore, the medical industry’s technological advancements are expected to drive market growth during the forecast period. In addition, the growing use of disc lasers, rising demand for mobile electronic devices and automobiles are likely to fuel the market expansion.
Browse in-depth TOC on “Laser Drilling, Cutting, Marking and Engraving Market”
- Pages – 242
- Tables – 122
- Figures – 77
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Laser processing is a thermal-based technology that employs a laser beam to perform various tasks, including laser welding, surface modification, laser cutting, laser marking, laser drilling, and micro-processing. Laser is an abbreviation for “Light Amplification by Stimulated Emission of Radiation.” The most common laser beams in processing are moving, fixed or hybrid. Laser processing techniques are widely used with engraving, material processing, micro-processing and etching being the most popular methods.
Prominent Players in Laser Drilling, Cutting, Marking and Engraving Market
- Coherent Inc.
- Trumpf Group
- IPG Photonics Corporation
- Jenoptik AG
- Han’s Laser Technology Industry Group Co. Ltd.
- Lumentum Holdings Inc.
- Rofin-Sinar Technologies Inc.
- Gravotech Marking SAS
- MKS Instruments Inc.
- LaserStar Technologies Corporation
- Epilog Laser
- Eurolaser GmbH
- Vytek Laser Systems
- Trotec Laser GmbH
- Universal Laser Systems Inc.
- Control Micro Systems Inc.
- Foba Laser Marking and Engraving
- Prima Industrie S.p.A.
- Laservision USA
- Sisma S.p.A
Gas Segment is Dominating the Market Due to the Growing Awareness and Acceptance of Laser Processing Technology
Gas segment is further sub-segmented into CO2, Excimer/Diode, Argon, Chemical and He-Ne lasers. These lasers utilize either a single gas or a combination of gases and vapours as the lasing medium. High-quality laser beams are achievable owing to the uniformity of the medium. Across the spectrum, several types of gaseous media can emit laser light at varying wavelengths. Gas lasers are critical in various industrial, commercial, research and development and defense applications.
The market has been witnessing a steady growth rate in North America, which can be attributed to growing awareness, government support and technological advancements. North America is expected to continue its dominance in the market in the coming years with the increasing demand for high-quality and efficient laser processing solutions in various industries, such as automotive, healthcare and aerospace.
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Solid laser Segment is Expected to Dominate the Market Due to the Increasing Number of OEMs
The solid laser segment is expected to experience significant growth during the forecast period with further sub-segments, including Yttrium Aluminum Garnet (YAG) Lasers, Semiconductor Lasers, Thin-disk Lasers, Ruby Lasers and Fiber Lasers. The Fiber Laser sub-segment holds the largest share of the global market. Solid lasers are highly efficient, generating both continuous and pulsed output while minimizing waste in the active medium. They are used for various applications, such as drilling holes in metal and military targeting.
Asia Pacific dominated the market, with a revenue share of over 41.0%. The region is projected to experience significant growth, driven by the increasing number of OEMs. China is expected to emerge as the largest consumer of industrial lasers and materials processing and micro-processing systems. Additionally, countries such as India, South Korea, Japan, and China are expected to experience significant growth owing to the growth of the automobile industry and an increase in the number of OEMs in the region.
A comprehensive analysis of the major players in the Laser Drilling, Cutting, Marking and Engraving market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in Laser Drilling, Cutting, Marking and Engraving Market
• I1-VI Inc. successfully acquired Coherent, Inc. in 2022. The merger is expected to result in a more evenly dispersed company, covering the entire value chain from raw materials to services.
• Laser Photonics Corporation, a significant player in developing Cleantech laser systems, sold the world’s first industrial-grade 3000-watt laser cleaning system, CleanTech 3000-CTH, in 2022. A mining company in Australia has deployed the system for use in their operations.
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Key Questions Answered in Laser Drilling, Cutting, Marking and Engraving Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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