Laser Processing Market is predicted to be valued at US$ 34,785.7 million by 2027 | Trumpf GmbH + Co. KG, Prima Industrie S.p.A., Universal Laser Systems Inc., Epilog Laser Inc.

The Laser Processing Market research is based on first-hand data, qualitative and quantitative analysis by market analysts, and inputs from industry experts and stakeholders across the entire chain. The research examines parent market trends, macroeconomic data, and controlling factors in-depth, as well as market attractiveness by segment. The qualitative influence of key market factors on market segments and regions is also given in the report.

According to research published by Coherent Market Insights, the global forecast to 2027 is estimated to be valued at US$ 34,785.7 million by 2027, with a CAGR of 10.5 % over the forecast period (2020-2027).

In comparison to traditional procedures such as waterjet cutting, flame-cutting, and other processing methods, laser processing systems provide exact processes at reasonable costs. Laser technology can also be used to permanently label consumer goods, electronic equipment, and other products. Laser technology is projected to be widely utilized for marking and branding purposes as a result of government rules requiring unambiguous marking on consumer products such as food, pharmaceuticals, and other items.

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Key players operating in the laser processing market are Trumpf GmbH + Co. KG, Prima Industrie S.p.A., Universal Laser Systems Inc., Epilog Laser Inc., Coherent Inc., Eurolaser GmbH, IPG Photonics Corporation, Bystronic Laser AG, Newport Corporation, and Rofin-Sinar Technologies Inc.

Market Drivers:

One of the most common applications of lasers in the industrial sector is marking and engraving. On many industrial products, marking is used to create serial numbers, brand names, manufacturing dates, prices, product codes, and other information. Ink-jet printers, ink stamping, punching, and laser marking are all common marking procedures. In comparison to other traditional marking techniques, laser marking systems provide a number of advantages, including being environmentally friendly and producing high-quality marks.

Market Trends:

Laser melting is becoming more widely used for 3D printing in a variety of applications.
Laser melting is a method for fusing material particles together to create three-dimensional (3D) objects. It's an additive manufacturing technology that builds 3D components using a 3D computer-aided design (CAD). A material powder layer is dispersed on a build platform using a laser melting machine, which is subsequently melted using a laser source (usually ytterbium fiber laser).

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Segments Covered:

By Product Type: Gas Lasers, Solid State Lasers, Fiber Lasers, Others.
By Process: Material Processing, Marking and Engraving, Micro-Processing.
By Process: Automotive, Aerospace, Original Equipment Manufacturer (OEM), Electronics and Micro-Electronics, Medical Devices and Treatment, Packaging.

Geographical Areas Covered in Laser Processing Market:
North America: U.S. and Canada
Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
Europe: Germany, U.K., Spain, France, Italy, Russia, and the Rest of Europe
Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
The Middle East and Africa: GCC Countries, South Africa, and Rest of the Middle East and Africa

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This release was published on openPR.