Global Laser Processing Market Analysis, Size, Share, Growth, Trends, and Forecast 2020 – 2030

Laser Processing Market
Laser Processing Market 

A laser beam produced by the thermal effect is used in laser processing to carry out operations including laser welding, surface modification, laser cutting, laser marking, laser drilling, and micro-processing. The acronym for laser is Light Amplification by Stimulated Emission of Radiation. The most frequent types of projected beams used in laser processing are moving, fixed, or hybrid beams. The most widely used laser processing methods include engraving, material processing, micro-processing, and etching.

Material processing includes a variety of metal and nonmetal operations like drilling, engraving, cutting, and marking. Laser technology has a number of advantages over conventional methods including plasma technology, flame, and water jet. Waterjet is used for ablation and structuring, while plasma and flame technologies are employed for cutting rather than engraving, marking, or drilling. However, waterjet is uncomfortable for material processing because of how noisy it is when operating. On the other hand, noise pollution can be avoided while all of the aforementioned tasks can be efficiently completed using laser technology.

The global Laser Processing Market was valued at US$ 15,694.1 Mn in 2019 and is forecast to reach a value of US$ 34,785.7 Mn by 2027 at a CAGR of 10.5% between 2020 and 2027.

The global laser processing market is anticipated to increase as a result of rising consumer demand for authentic, high-quality goods, reduced microelectronic device sizes, and increasing preferences for laser-based material processing over conventional techniques. Additionally, during the projection period, technological developments in the medical sector are anticipated to fuel demand. In addition, factors like rising demand for mobile electronics and vehicles as well as green laser devices for projection applications are anticipated to fuel market growth.

The laser processing market in Asia-Pacific is anticipated to expand at the fastest rate during the projection period. This is a result of an increase in original equipment manufacturers and the automotive industry, as well as a decrease in manufacturing costs in the region's expanding nations like China, India, and Japan. In North America, strict rules on laser marking are anticipated to fuel the market for marking systems in the next years, further driving up demand for laser processing. The market is expanding in Europe thanks to the growing use of laser processing in the automotive industry

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