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Laser Processing Market by 2024 Demand and Revenue With Major Players - JENOPTIK, Coherent Inc., Rofin-Sinar, Inc, eurolaser GmbH, ALLTEC GmbH | FOBA Laser Marking + Engraving and Newport Corporation
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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 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.
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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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