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Laser Technology Market Analysis

  • Report ID: GMI9647
  • Published Date: May 2024
  • Report Format: PDF

Laser Technology Market Analysis

Based on type, the market is divided into solid-state lasers, gas lasers, liquid lasers, and others. The solid-state lasers segment dominated the global market with a share of over 35% in 2023. Solid-state lasers are versatile and used in a wide range of applications across various industries including material processing (cutting, welding, marking), medical procedures (surgery, dermatology), scientific research, and defense.

 

Their broad applicability contributes to their dominant laser technology market position. Continuous technological advancements have significantly improved the performance, efficiency, and compactness of solid-state lasers. Innovations, such as thin-disk lasers, fiber lasers (a subtype of solid-state lasers), and ultrafast lasers, have expanded their usage in high-precision and high-power applications.

 

Laser Technology Market Share, By End-use, (2023)

Based on end-use industry, the laser technology market is divided into telecommunication, industrial, semiconductor & electronics, commercial, aerospace and others. The industrial segment is expected to cross USD 10 billion by 2032. The industrial sector uses laser technology for numerous applications including cutting, welding, marking, engraving, drilling, and additive manufacturing (3D printing). These processes are critical in various industries such as automotive, manufacturing, metalworking, and textiles.

 

Lasers offer high precision, speed, and automation, which are essential for modern manufacturing processes. The ability of lasers to perform intricate and precise work with high repeatability is crucial for industrial applications. Lasers offer high precision, speed, and automation, which are essential for modern manufacturing processes. The ability of lasers to perform intricate and precise work with high repeatability is crucial for industrial applications.

 

China Laser Technology Market Size, 2022-2032 (USD Billion)

Asia Pacific laser technology market size accounted for 30% of the revenue share in 2023, driven by rapid industrialization, technological advancements, and increasing adoption across various sectors. Key industries, such as manufacturing, automotive, electronics, and telecommunications, are major contributors to this growth, leveraging laser technology for applications such as cutting, welding, marking, and communications. Countries including China, Japan, and South Korea are at the forefront, with substantial R&D investments and government initiatives supporting technological innovation.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The market size of laser technology reached USD 19.3 billion in 2023 and is set to witness over 5% CAGR from 2024 to 2032, due to the advancements in manufacturing, rising demand for precision in medical and industrial applications and increasing adoption in telecommunications.

The solid-state lasers segment in the laser technology industry is projected to account for over 35% share in 2023, owing to their wide range of applications across various industries including material processing, medical procedures, scientific research, and defense.

The industrial end-use segment is estimated to surpass USD 10 billion by 2032, on account of the rising use of laser technology for numerous applications including cutting, welding, marking, engraving, drilling, and additive manufacturing (3D printing).

Asia Pacific market recorded over 30% share in 2023, led by the rapid industrialization, technological advancements, and increasing adoption across various sectors.

Laser Technology Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 293
  • Countries covered: 21
  • Pages: 250
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