The global industrial lasers market (henceforth referred to as the market studied) was valued at USD 17. 29 billion in 2020, and it is expected to reach USD 27. 58 billion by 2026, registering a CAGR of 7.
New York, Sept. 06, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Industrial Laser System Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06134970/?utm_source=GNW
26%, during the period of 2021-2026 (henceforth, referred to as the forecast period).
The various technological advancements in the industrial environment, such as industrial automation, industrial robots, 3D Printing, etc. due to the advent of Industry 4.0 and Industrial IoT, are expected to boost the adoption of laser systems in industries. Companies integrate the existing manufacturing processes with several technological advancements across lasers and laser systems to enhance productivity and stay ahead of the competition.
MKS Instruments, Inc. launched spectra-physics Talon 355-45, a high-power UV laser results in faster UV processing at a significantly lower cost per part. It is ideal for industrial manufacturing of PC boards, electronic components, semiconductors, flat panel displays, lithium-ion batteries, and LEDs for consumer electronics, clean energy, and other demanding applications. Further, the industrial laser systems are being adopted in several end-user industries such as aerospace and defense, automotive, medical, and semiconductor, amongst others. In the automotive sector, laser systems deployed are used mainly for cutting and welding applications. This enables higher productivity and reduction of down-time while substantially reducing the manufacturing costs.
As of April 2020, Jenoptik supplied its laser systems to an automotive supplier Xinquan in China, looking for a laser-scoring machine for precision airbag perforation, for processing automotive interiors. Further, processing a diverse range of materials (plastics, metals, textiles, glass, and rubber) requires a versatile tool, and that’s where carbon dioxide (CO2) laser demand increases. CO2 lasers possess the capability to mark a variety of materials with precision. Also, as automotive production transition towards automation, these laser systems find usage in conjunction with robots, replacing conventional tools. In the aerospace and defense industry, the extensive manufacturing capabilities encompass all areas of metal fabrication, joining, and coating.
Furthermore, direct laser etching across industrial products, such as medical devices, components for the automotive industry, or electronic components, utilize UV lasers and CO2 lasers as industry requirement desires many materials, surface quality, and the desired marking effect as prerequisites. Several organizations are adopting fiber lasers for similar programs catering to industrial and energy efficiency. For instance, the Clean Energy and Industrial Efficiency Program of the Massachusetts Department of Energy Resources (DOER), adopted these technologies for the industrial sector. Then, as of July 30, 2020, TRUMPF and Fraunhofer Institute formed a research alliance towards manufacturing engineering and automation IPA, set to run until 2025.
Across the industrial laser systems market, the COVID-19 virus has been witnessed, impacting the near-term demand environment and internal operations. With multiple component manufacturers facing material sourcing and working capital issues, the demand for new laser systems or retrofit is expected to stall. For instance, the Electronic Component Manufacturing supply chains been notably impacted being mostly concentrated in China. As medical-related orders became high priority and demand for the same surged in March 2020, additional pressure was put on distributors and other component suppliers. Subsequently, Han’s Laser and HG Laser among a few Chinese companies turned their system integration capabilities into manufacturing mask-making machines.
Key Market Trends
Solid State Laser is Expected to Hold Significant Share
A solid-state laser is a laser which uses solids such has glass or a crystalline material as a laser medium. Solid-state lasers are widely used in metal processing, medical applications, such as eye surgery, red–green–blue (RGB) light sources in laser printers and projectors, environmental instrumentation measurements and optical transmission systems
Due to it’s advantages over others types, solid state lasers are a preferred alternative amongst multiple industries. Both, continuous and pulsed output is possible from solid state lasers. Along with simpler construction, the beam diameter of solid state laser is very less than CO2 lasers. This allows for precise measurements.
There is a pressing demand for improvements to the capabilities of automated high-content imaging, with the increasing use of highly-complex cell-based 2D and 3D assays in biologic research. Imaging systems with lasers substantially decrease exposure times, which result in increased imaging speed and assay throughput. Developments such as AgileOptix technology enable the system to deliver the same by combining an advanced solid-state light engine with seven laser lines and eight filter combinations, proprietary spinning disk technology, state-of-the-art optics, and a scientific CMOS sensor.
Ziemer Ophthalmic received a CE Mark clearance for it’s solid-state laser with proprietary developed crystals that produce a very stable beam with excellent quality in September 2020. The new ablation laser Aquariuz, is a solid-state ablation laser for used for refractive surgery.
The increasing demand of refractive eye-surgeries across both developed and developing nations is set to increase with the growing investments in healthcare and research. This shall indirectly impact the growth of solid-state lasers for use in non-invasive surgeries.
North America is Expected to Hold Significant Share
The North American region is anticipated to dominate the market due to technological advancements across various industries, such as manufacturing, aerospace, automotive, etc. Similarly, on the vendors’ front, the region houses some important players, such as IPG Photonics and Coherent Inc., among others.
Several companies, especially among small and medium enterprises (SME) and startups, have been raising significant funds to develop innovative laser technology solutions. For instance, UAVenture Capital Fund, which is based in Tuscan and is dedicated to the commercialization of University of Arizona discoveries, products, technologies, and services, invested in DeUVe Photonics Inc. to improvise its technology, thus, enabling the company to become a major player in existing and developing deep UV laser markets.
Also, significant developments by laser systems manufacturers has indicated a consolidation and expansion spree. For instance, in July 2020, CORE Industrial Partners, based in Chicago, completed its acquisition of Incodema, a precision sheet metal engineering solutions provider. The former is set to leverage laser welding solutions being offered to expand its existing supplier base.
Similarly, RPMC Lasers Inc., a distributor of solid-state lasers in North America, expanded its non-exclusive distribution agreement with Sheaumann. Such initiatives by market players are anticipated to boost the market growth in the region.
Multiple launches are signifying favorable demand for laser systems across all end users in the region. For instance, as of June 2020, Coherent Inc. added EasyMark XL to its Laser Marking Systems Product Line, which caters to applications spanning from marking codes on stainless steel medical devices to the deep engraving of casting molds. Additionally, in order to offer advanced welding capacities, the company further launched HighLight FL4000CSM-ARM fiber laser for high thermal conductivity metals. This is a response to market requirements for e-mobility, energy storage, and general electrical interconnects.
The Industrial Laser Systems market is highly competitive, owing to the presence of multiple vendors. The market appears to be moderately concentrated. The market is home to some of the largest vendors as well as various regional smaller vendors operating and catering to their markets. Vendors in the market are prioritizing research, innovation, and product development as their growth strategy. Such developments enabled the companies to increase their presence in the space.
Being a highly capital-intensive market, the smaller revenue companies are subjected to higher barriers to exit, and in most cases get acquired by high revenue companies. Moderate firm concentration and consolidated state of the market further intensify the competitive rivalry.
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