The global laser processing market is growing, due to developing trends in the industrial sector, technological advancements in laser processing, and growing demand of enhanced processing tools. Additionally, the increasing application of laser processing in medical field, such as photobiomodulation is also supporting the growth of the global market. Some of the factors providing ample growth opportunities for the market are increasing adoption of disk lasers, increasing demand for mobile electronic devices and automobiles, and green laser devices for projection applications. Moreover, the laser doping of solar cells and various evolving applications of the laser technology is also driving the growth of the market. The lack of technical expertise to implement laser processing and varying macroeconomic trends due to Eurozone crisis are two of the major factors restraining the growth of the global market. The high cost of ownership including maintenance, implementation and investment cost is also hindering the growth of the global market.
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The Asia-Pacific laser processing market is expected to grow with the highest rate during the forecast period. This is due to growing number of original equipment manufacturers and automotive industries, and manufacturing cost reduction in the emerging countries of the region, such as China, India and Japan. In North America, severe laser marking regulations is expected to drive the growth of the marking systems market in the coming years, which will further increase the demand of laser processing. In Europe, the increased adoption of laser processing in automotive sector is supporting the growth of the market.
Among the various end users of laser processing, the medical industry is growing with the highest rate due to high demand of miniaturization in the industry. In medical industry, the demand of laser eye surgery is increasing, and it is further supporting the growth of the global market. The applications of laser processing are also increasing in oil and gas, and automotive industry with a considerable rate. Solid lasers include holmium, F-center, ruby lasers neodymium and chromium; and gas lasers include carbon dioxide, carbon monoxide, nitrogen lasers, helium-neon laser, copper, ion laser and argon-ion. The advancements in the fiber laser have supported the automotive manufacturers to work with ease in their production applications.
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The increasing demand for wireless enabled devices and telecommunications is supporting the growth of the global laser processing market. The adoption of laser technology is increasing with a considerable rate among the end-users, due to high speed and accurate industrial processes offered by laser technology, in comparison to traditional technologies. Additionally, in marking and engraving of products, the governments in developed countries have mandated the use of laser technology. This has further supported the growth of the global market. The development and commercialization of laser based photovoltaic modules is expected to increase in the coming years, due to improving module efficiencies, higher throughput and increasing need for reduced process costs.
Some of the competitors in the global market are Jenoptik AG, Coherent Inc., Rofin-Sinar Technologies Inc., Eurolaser GmbH, ALLTEC GmbH, Newport Corporation, and IPG Photonics Corporation.
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