The Laser Processing Market Size is projected to grow from USD 4.0 billion in 2020 to USD 5.8 billion by 2025; it is projected to record a CAGR of 7.8% during the forecast period.

The laser processing industry’s growth is driven mainly by the growing preference of end-user industries for laser-based material processing over traditional approaches, increasing demand for high-quality and genuine end-products, rising demand for miniaturization of microelectronic devices, and surging technological advancements in the medical sector.

Solid lasers to witness highest CAGR during forecast period

The solid lasers segment is projected to record the highest CAGR in the Laser Processing Market from 2020 to 2025. Solid lasers prevent the wastage of materials in the active medium and produce both continuous and pulsed output with high efficiency. These lasers have numerous applications, such as drilling holes in metals, endoscopy in medical, and targeting in military.

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Laser Revenue to witness higher CAGR during forecast period

The laser revenue segment is projected to record a higher CAGR in the Laser Processing Market from 2020 to 2025. Laser revenue covers the revenue generated from the sales of several types of lasers, such as YAG laser, semiconductor laser, thin-disk laser, ruby laser, fiber laser, X-ray laser, dye laser, excimer laser, argon laser, chemical laser, and helium-neon laser, for processing applications.

Asia Pacific market to record significant growth during the forecast period.

Asia Pacific (APAC) is projected to account for the largest share of the global laser processing market during the forecast period. The major countries contributing to the market in APAC include China, Japan, South Korea, and India. APAC has been ahead in terms of the adoption of laser processing solutions as compared with other regions. High population density, rise in R&D investments in technologies, and growth of the manufacturing and electronics sectors are expected to drive the growth of the market in the region.

Key Players

Key Players Operating in the Laser Processing Market include Coherent (US), Trumpf (Germany), Han’s Laser (China), IPG Photonics (US), Jenoptik (Germany), Lumentum (US), Gravotech (France), LaserStar (US), Lumibird (France), and Epilog Laser (US). Most of these companies focus on organic and inorganic growth strategies, such as product launches & developments, mergers & acquisitions, agreements, contracts, partnerships, collaborations, and expansions, to increase their revenue.

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