New York, December 17, 2021/PRNewswire/-"Laser Processing Market by Type and Geography-Forecast and Analysis 2022-2026" report has been added to Technavio's products. With ISO 9001:2015 certification, Technavio is proud to have worked with more than 100 Fortune 500 companies for more than 16 years.
The potential growth difference of the laser processing market from 2021 to 2026 is USD 2.45 billion. The report also pointed out that during the forecast period, the market will accelerate growth at a compound annual growth rate of 8.41%. This report also covers factors that positively and adversely affect market growth.
To get the exact annual growth difference and YOY growth rate, please consult our analysts.
The increasing advantages of laser welding over traditional welding are significantly driving the growth of the laser processing market. Compared with traditional welding procedures, laser welding has many technical advantages, such as deep and narrow welds, minimal deformation and easy automation. One of the main advantages of laser welding is its ability to automate the welding process, which helps increase overall productivity. In addition, other factors, including increasing investment in the aerospace and defense industries and the surge in the adoption of solid-state laser processing, will also drive overall market growth during the forecast period.
The availability of alternative machine tools for metal cutting applications will challenge market growth. The use of waterjet cutting machines to cut various materials and produce high-quality cuts makes it the preferred profiling method for the end-user industry. However, the excessive heat generated by laser and plasma cutting machines during the cutting process limits their application in reflective, conductive, heat-resistant or heat-sensitive materials. In addition, other factors, such as increased demand for refurbished laser cutting machines and strict regulatory standards related to laser processing, may also hinder market growth.
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The laser processing market report is broken down by gas, solid and other types. The gas division will occupy the largest laser processing market share in 2021 and will continue to maintain its market dominance throughout the forecast period. The report accurately predicts the contribution of all market segments to the growth of the laser processing market, as well as actionable market insights into other types of market segments, enabling customers to make wise business decisions.
In terms of geography, the market is segmented by North America, Europe, Asia Pacific, MEA, and South America. During the forecast period, North America will become the leading region with 36% of market growth. The United States is the main market for laser processing in North America. The market growth in this region will be faster than the market growth in South America and the MEA region. Manufacturers in the United States and local governments are increasingly focusing on improving the technical skills of their workforce to ensure seamless integration of automation and robotics. With the improvement of labor skills, more auto companies are expected to invest in robotic laser processing machines to increase productivity and efficiency.
Check out our sample report to learn more about the contribution of all market segments and regional opportunities
The laser processing market is fragmented, and suppliers are deploying growth strategies, such as establishing strategic partnerships to participate in market competition. Suppliers are establishing strategic partnerships and acquisitions to strengthen their foothold in the market. For example, in January 2021, Coherent Corporation announced a partnership with Lumentum to unite global industry leaders to accelerate the future development of photonics.
Some other companies covered in this report include:
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Accelerate with a compound annual growth rate of 8.41%
North America, Europe, Asia Pacific, MEA and South America
U.S., Germany, China, France, and Japan
Leading company, competitive strategy, scope of consumer participation
Coherent Inc., Epilog Corp., Gravotech Engineering Pvt Ltd, Hans Laser Technology Industry Group Co. Ltd., IPG Photonics Corp., Jenoptik AG, Laserstar Technologies Corp., Lumentum Holdings Inc., LUMIBIRD and TRUMPF GmbH + Co. KG
Mother market analysis, market growth incentives and obstacles, fast-growing and slow-growing market segments, COVID-19 impact and future consumer dynamics, and market conditions during the forecast period.
If our report does not contain the data you are looking for, you can contact our analysts and customize the market segment.
About Us Technavio is the world's leading technology research and consulting company. Their research and analysis focus on emerging market trends and provide actionable insights to help companies identify market opportunities and formulate effective strategies to optimize their market position. Technavio's report library has more than 500 professional analysts, and its client base includes companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio's comprehensive coverage, extensive research, and actionable market insight to identify opportunities in existing and potential markets, and evaluate their competitive position in changing market scenarios.
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