Industrial laser systems are becoming increasingly important for precision machining, cutting and welding applications in the manufacturing industry. They offer various advantages like non-contact cutting and welding, high accuracy and precision, and reduced costs compared to conventional cutting and welding methods.
The global Industrial Laser Systems Market is estimated to be valued at US$ 22979.2 Mn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing adoption of industrial laser systems in various manufacturing industries like automotive, aerospace, electronics and semiconductor is one of the key trends driving the growth of this market. Laser systems are widely used for precision cutting, welding and surface treatment applications in these industries. For example, laser cutting helps in achieving complex geometries with high accuracy in automotive component manufacturing. Similarly, laser welding finds applications in aircraft component fabrication. The growing manufacturing output across countries is expected to generate substantial demand for laser-based precision machining and processing technologies, fueling the adoption of industrial laser systems over the forecast period.
Segment Analysis
The global industrial laser systems market is dominated by laser cutting machines segment. Laser cutting machines account for more than 40% share of the overall market. This is because laser cutting machines have widespread applications in metal sheet and pipe cutting works. They provide precision cutting of different geometric shapes with their high cutting speeds and flexibility of operations.
Key Takeaways
The Global Industrial Laser Systems Market Size is expected to witness high growth. The global Industrial Laser Systems Market is estimated to be valued at US$ 22979.2 Mn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030.
The Asia Pacific region is fast emerging as the dominating and fastest growing regional market for industrial laser systems. Countries like China, Japan and India have witnessed significant rise in manufacturing activities in industries like automotive, electronics and machinery in recent years which is driving the demand for laser systems in the region.
Key players related content comprises
Key players operating in the industrial laser systems market are Barefoot, Bon V!V Spiked Seltzer, Bud Light, Ficks Beverage Co, Future Proof Brands Llc, Hard Seltzer Beverage Company Llc, Kona, Lift Bridge Brewing Co, Nude Beverages, And White Claw. These companies are focusing on new product launches and targeting high growth applications to gain market share.
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