Industrial Lasers Systems Market at a CAGR of 8.8% from 2021 to 2027

The Market Statsville Group (MSG) publishes the new report on the "Industrial Lasers Systems Market by Type (Macro-Processing and Micro-Processing), by Power (Less than 1 kW and More than 1.1 kW), by Application (Cutting, Welding, Non-metal processing, Additive manufacturing, and Others), and by Region - Global Trends, Market Share, and Forecast to 2027". The global industrial lasers systems market was valued at USD 1,519.3 million in 2020 to USD 2741.86 million by 2027, at a CAGR of 8.8% from 2021 to 2027. Though lasers are extensively used for accelerating thin metal cutting speeds by cutting three times faster than CO? systems, they fail to provide higher cutting speeds while processing thicker materials (>5 mm). The laser technology enables high accuracy cutting and gives manufacturers more freedom to produce challenging geometries than traditional systems in thin metal cutting applications but cannot provide a smoother finish and increased speed while cutting thicker materials. CO? lasers can cut thicker materials faster in a straight line and produce a better quality cut for thicker metals, which gives CO? lasers a competitive edge over fiber lasers. Fiber lasers, though capable of cutting thicker materials, cut at a low speed, as the mode and diameter of a laser beam do not allow a kerf to get assistance from oxygen in the cutting action. This factor is expected to have a low impact on the industrial lasers systems market during the forecast period. This is attributed to industrial lasers systems manufacturers are coming up with solutions to get a better edge quality and speed by modifying some of the beam properties and employing mirrors at a fixed distance in the cutting head.

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Global Industrial Lasers Systems Market Segmentation
The overall industrial lasers systems market has been segmented into type, power, and region.

By Type (Macro-Processing and Micro-Processing)
By Power (Less than 1 kW and More than 1.1 kW)
By Application (Cutting, Welding, Non-metal processing, Additive manufacturing, and Others)
By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)
More than 1.1 kW, by power, is estimated to hold the largest market share during the forecast period

Based on power, the global industrial lasers systems market is segmented into- Less than 1 kW and More than 1.1 kW. In 2020, More than 1.1 kW accounted for the largest market share of 67.98% in the global industrial lasers systems market and had a CAGR of 7.3% during the forecast period.

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The lasers with a power capacity of more than 1.1kW are effective for applications such as cutting, welding, and others, in various end-user industries that include automotive and chemical. Key companies are adopting advanced strategies to promote the progress of the industry. For instance, in June 2018, SPI Lasers opened a new service center in the U.S. to serve customers in the Americas. The service center is provided with the tools, equipment, and facilities required to service the complete range of SPI Laser products, which includes continuous wave redPOWER lasers of power capacities 100-8000 kW and others. In addition, innovative technological advancements such as the use of industrial motion controllers, multilevel security access systems, and others in laser systems are creating favorable opportunities for the industry.

The Asia Pacific accounts for the largest market share during the forecast period in the industrial lasers systems market

Based on the regions, the global industrial lasers systems market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, Asia Pacific is accounted for the highest market share of 59.34% in the global industrial lasers systems market and was anticipated to maintain its dominance throughout the forecast period, followed by Europe and North America.

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Industrial laser developments such as the production of new core lasers, laser machining, and high-end laser manufacturing equipment in Wuhan Optical Valley of China are the major contributors to the growth and development of the industrial laser market in this region. Furthermore, the factors that drive the industrial lasers systems market are cheap labor, low manufacturing costs, and high adoption of material processing applications in this region. The emerging markets such as South Korea, India, and Taiwan are expected to majorly contribute to the growth and development of the laser market in the future, owing to the rapid increase in mining and automotive sector applications.

Some of the major companies that operate in the global industrial lasers systems market are Amonics Ltd., Apollo Instruments Inc., Coherent Inc., IPG Photonics Corporation, Jenoptik Laser GmbH, CY Laser SRL, NKT Photonics A/S, Quantel Group, TRUMPF, and Toptica Photonics AG.

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