Laser Technology Market Growth Factors, Applications, Regional Study, Key Players and Trends by Forecast to 2027

Research Reports

Dec 08, 2021

The global Laser Technology Market is expected to exhibit a solid 6?GR over the forecast period from 2021 to 2027, according to the latest research report from Market Research Future (MRFR). The global laser technology market is expected to reach a valuation of USD 18 billion by 2027, according to the MRFR report. The report presents a comprehensive overview of the global laser technology market by profiling the market’s historical growth statistics and current statistics. Based on this foundation, projections are made for the market’s likely progress over the forecast period from 2017 to 2027. The competitive landscape of the global laser technology market is also analyzed in detail in the report, which profiles the key players operating in the market on various metrics. The impact of the global COVID-19 pandemic on the global laser technology market is also assessed in detail in the report.

Laser technology is widely used in material processing, i.e. cutting, shaping, and other operations. Laser technology offers a higher level of precision than conventional, mechanical cutting and shaping tools and has thus gained a wide range of demand across end use verticals. Due to this higher level of precision, laser technology can be used to cut out highly precise industrial and engineering parts for use in various applications. The automotive industry has emerged as a major end user of laser technology in recent years due to the growing use of laser technology in cutting out composite components for use in automotive construction. Composites have taken on an important role in automotive manufacturing in recent years due to their lightweight yet strong nature. This has led to a growing demand from the laser technology market from the automotive industry. Growing automotive production around the world, and especially in emerging economies such as China and India, is likely to remain a major driver for the global laser technology market over the forecast period.

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The growing demand for optical communication, which consumes less power than conventional communication channels while delivering similar data transmission figures, is also likely to be a major driver for the global laser technology market over the forecast period. The growing IT and telecom industry is thus likely to be a major driver for the global laser technology market over the forecast period. The aerospace and defense sector is also likely to remain a major end use consumer of laser technology due to the growing demand for laser weapons and the growing use of laser technology in the manufacturing of aerospace and defense components.

Competitive Leaderboard:

Leading players in the global laser technology market include MKS Instruments, Han’s Laser Technology Co. Ltd., NeoPhotonics Corporation, Epilog Laser, Applied Laser Technology Inc., ALT Advanced Lazer Technologies, LaserStar Technologies Corp., Quantel Group, Novanta Inc., Jeanoptik AG, Haas Laser Technologies Inc., Lumentum Holdings Inc., Laser Technology Inc., Trumpf Group, Micron Laser Technology, IPG Photonics Corp., Corning Inc., and Coherent Inc.

Segmentation:

The global laser technology market is segmented on the basis of type, application, end use vertical, and region.

By type, the global laser technology market is segmented into solid laser, liquid laser, gas laser, and others.

By application, the global laser technology market is segmented into laser processing, laser gyroscopes, laser printers, laser scanners, laser rangefinders, laser headlights, laser security systems, optical communication, and others. The laser processing segment is further sub-segmented into macro processing, micro processing, advanced processing, and others.

By end use vertical, the global laser technology market is segmented into IT and telecommunication, aerospace and defense, healthcare, automotive, and others.

Regional Analysis:

North America is a leading regional market for laser technology and is likely to retain a dominant share in the global market over the forecast period. The presence of major laser technology players in North America is a major driver for the regional market. Asia Pacific is an emerging market for laser technology and is expected to exhibit the highest growth rate over the forecast period.

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