Laser Processing Market worth USD 8226.87 million by 2027

The Market Statsville Group (MSG) publishes the new report on the "Laser Processing Market by Product (Gas Lasers, Solid State Lasers, and Fiber Lasers), by Process (Material Processing, Marking & Engraving, and Micro-Processing), by Application (Automotive, Aerospace, Machine Tools, Electronics & Microelectronics, Medical, and Packaging), and by Region - Global Trends, Market Share, and Forecast to 2027". The global laser processing market was valued at USD 4991.2 million in 2020 to USD 8226.87 million by 2027, at a CAGR of 7.4% from 2021 to 2027. Laser processing technology is widely being used in consumer electronics. Laser engraving or laser marking, for low cost and low power consumption, is used in consumer electronic manufacturing processes. Lasers can also be used for the production of mobile phones. For instance, pulsed lasers cut keypad penetrations & holes and also trim deep-drawn housing on a 3D laser processing system.

Furthermore, lithium-ion batteries are welded by pulsed lasers. Additionally, the plastic cover (for protecting the display) is also fastened by lasers onto phones. Laser processing technology enables high-speed, clean, accurate, and damage-free operations, thus resulting in its increased adoption. In addition, laser technology provides a permanent marking on electronic equipment, consumer goods, and other products. Due to government regulations pertaining to clear marking on consumer products, including pharmaceuticals, food, and others, laser processing is anticipated to be extensively espoused for marking & engraving purposes. In the semiconductor manufacturing process, material processing is predominantly done with lasers. The surging demand for speed and precision is the key driver for the adoption of laser technology in this sector. The miniaturization of electronic goods is carried out in this process itself. Applications in the semiconductor industry range from the marking & separating of finished components and wafers to defect analysis.

Global Laser Processing Market Segmentation

The overall laser processing market has been segmented into the product, process, application, and region.

• By Product (Gas Lasers, Solid State Lasers, and Fiber Lasers)
• By Process (Material Processing, Marking & Engraving, and Micro-Processing)
• By Application (Automotive, Aerospace, Machine Tools, Electronics & Microelectronics, Medical, and Packaging)
• By Region (US, Mexico, Canada, Germany, France, UK, Italy, Spain, China, India, South Korea, Japan, Southeast Asia, Australia, Saudi Arabia, Peru, South Africa, Qatar, UK, Nigeria, Israel, Brazil, Argentina)

Material Processing, by process, is estimated to hold the largest market share during the forecast period

Based on the process, the global laser processing market has been segmented into material processing, marking & engraving, and micro-processing. In 2020, Material Processing accounted for the largest market share of 41.1% in the global laser processing market.

In the semiconductor manufacturing process, material processing is predominantly done with lasers. Surging demand for speed and precision is key driver for laser technology espousal in this sector. Laser Material Processing modifies the shape or appearance of a material by using laser energy. This approach of material modification has several benefits, including the ability to modify designs fast, make items without retooling, and increase the quality of completed products. Another advantage of laser material processing is that it is compatible with a wide range of materials. Non-metals such as ceramics, composites, plastics/polymers, and adhesives are compatible with metals such as aluminum, iron, stainless steel, and titanium.

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North America accounts for the largest market share during the forecast period in the laser processing market

Based on the regions, the global laser processing market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, North America was accounted for the highest market share of 41.1% in the global laser processing market and was anticipated to maintain its dominance throughout the forecast period, followed by Europe and the Asia Pacific.

Growing concerns about power shortage and programmed power cuts due to the rising electricity demand and the excessive loss of electrical energy have instigated manufacturers to increase the capacity and install reliable electronic equipment & components for a safe & efficient power supply. Further, the growing urbanization in the U.S. and Canada has led to increased electricity consumption, which is expected to drive the installation of electric equipment in this region.

Some of the major companies that operate in the global laser processing market are Coherent, Trumpf, Han’s Laser, IPG Photonics, Jenoptik, Lumentum, Gravotech, LaserStar, Lumibird, and Epilog Laser, Alltec, Alpha Nov Lase, Amada Co., Ltd, Bystronic Laser AG, Coherent, Inc., Eurolaser GmbH, Han’s Laser Technology Co. Ltd, and Epilog Laser, Inc.

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