Laser diodes find widespread applications in industrial processes such as cutting, welding, drilling, and marking due to their advantages such as high power, precision, and versatility. Laser diodes generate monochromatic, coherent light when an electric current passes through a semiconductor material. The laser diode technology is more affordable and energy-efficient as compared to traditional gas or solid-state lasers. Laser diodes are increasingly being adopted across industries such as healthcare, consumer electronics, automotive, telecommunications, and industrial manufacturing for applications like optical storage, laser printing, laser pointers, barcode scanners, and biomedical therapies.
The global Laser Diode Market is estimated to be valued at US$ 16.79 Mn in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growth in applications of laser diodes across various industrial sectors is one of the key trends fueling the expansion of the laser diode market. In industries such as automotive, laser diodes are widely used for micro-welding, cladding, brazing, and drilling small holes. They are also employed for cutting and marking applications in industries such as electronics and medical device manufacturing. Increasing miniaturization and demand for high-precision manufacturing processes have led to the rising adoption of laser diodes across industrial environments. Growing automation across industries is also supporting the deployment of laser diodes which offer advantages such as precision, speed, and repeatability. Rising investments in developing industrial infrastructure and manufacturing facilities globally are expected to augment the demand for laser diode market during the forecast period.
Segment Analysis
The global laser diode market is dominated by the infrared laser diodes sub segment. Infrared laser diodes find wide applications in optical fiber communication systems due to long transmission distance capability of infrared signals. These laser diodes are used in barcode scanners, laser printers, CD/DVD players etc. Short wavelength laser diodes sub segment is expected to witness highest growth during the forecast period due to increasing demand for blue laser diodes in data storage devices.
Key Takeaways
The Global Laser Diode Market Size is expected to witness high growth during the forecast period of 2023 to 2030. The global Laser Diode Market is estimated to be valued at US$ 16.79 Mn in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period 2023 to 2030.
Regional analysis reveals that Asia Pacific region currently dominates the global laser diode market. Countries like China, Japan and South Korea are major contributors to the laser diode market growth in the region due to large presence of consumer electronics and automobile manufacturers. North America laser diode market is expected register highest CAGR during the forecast period driven by increasing demand from healthcare sector for various surgical procedures and rising demand for laser diode based 3D sensing technology.
Key players operating in the laser diode market are Air Liquide, Air Products & Chemicals Inc., Praxair Inc., Linde Plc., and Messer Group GmbH. These companies mainly focus on developing innovative gas mixtures including rare gases required for manufacturing laser diodes. Air Liquide enhanced its position in the market through strategic investments and partnerships with laser diode manufacturers around the world. Praxair Inc. is specifically focusing on Asia Pacific region and collaborating with major semiconductor and consumer electronics manufacturers in countries like China, India, Japan and South Korea.
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