May 10, 2016
Wellesley, Mass., May 10, 2016 – The industrial laser industry is vibrant, robust and growing. It has even grown during years when the global economy has not. BCC Research reveals in its new report that evolving technology should continue to drive this global market, especially within the fiber laser submarkets.
LASER is an acronym of light amplification by stimulated emission of radiation. Industrial laser applications can be categorized into two broad segments: micro-material processing and material processing. The major types of industrial lasers include carbon dioxide, Nd:YAG, solid-state, disk, and fiber.
The global market for industrial lasers is projected to reach from $4.6 billion in 2015 to $6.3 billion in 2020, reflecting a five-year compound annual growth rate (CAGR) of 6.6%. Consumer electronics industry as a segment should grow from nearly $1.5 billion in 2015 to $2 billion in 2020, demonstrating a five-year CAGR of 6.1% as the largest end-use industry. Construction industry, the second-largest segment, should total almost $1.2 billion in 2020 with a five-year CAGR of 6.4%.
Major factors spurring market demand include a greater focus on product quality and production efficiency. Many companies are expected to invest heavily in R&D to provide better end-user solutions. A rising demand for three-dimensional (3-D) imaging additive manufacturing should bolster global demand, as well.
The Asia-Pacific region should remain the largest global market for industrial lasers. With numerous upcoming business entities and a growing focus on automation, the market should see substantial growth in major markets such as China,JapanandSouth Korea.
Unlike older industrial tool industries, the industrial laser industry is still evolving. Although carbon dioxide lasers and neodymium YAG lasers are most often used, the markets for fiber lasers and disk lasers should experience significant growth during the forecast period.
The fiber lasers market, particularly, should see impressive growth, spurred by demand for its high-output power and compact size. Their reliability should also drive growth.
“Fiber lasers provide high peak power and nanosecond pulses, which enable effective marking and engraving. They also provide cleaner cut edges at faster cutting speeds,” says BCC Research analyst Sinha Gaurav. “The lower cost fiber laser ownership is also boosting global demand. The market, valued at $1.1 billion in 2014, should reach nearly $1.9 billion by 2020, growing at a five-year CAGR of 8.5%.”
Lasers for Industrial Applications: Global Markets (PHO005B) analyzes the industry by technology, type, and by end-user application. The report examines emerging applications, trends, pricing considerations, R&D, government regulations, and competitive technologies. Analyses of global market drivers and trends, with data from 2014, 2015, and projections of CAGRs through 2020 also are provided.
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Lasers for Industrial Applications: Global Markets( PHO005B )
Publish Date: May 2016
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