CO2 Laser Market Owing to the Ongoing Numerical Control Technology Developments

According to Precision Business Insights (PBI) latest report, the CO2 laser market is expected to be worth USD 525.1 million in 2022, growing at a 4.7% CAGR from 2022 to 2028. CO2-laser welding has grown in popularity over the last 20 years as a type of industrial machinery. With ongoing CO2 laser and numerical control technology developments, it has developed into a sophisticated processing technique for industrial sheet cutting. It's not just a new strategy; it's a methodology that opens up production opportunities that were previously impractical or challenging to realize using conventional welding processes. The alternatives are low weld distortion, streamlined designs, less material waste, less post-weld machining, automated simplicity, and fast production speeds. All these factors are driving the CO2 laser market worldwide.

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Manufacturing Segment to Dominate the CO2 Laser Market:
The manufacturing segment is expected to account for a larger revenue share in the global CO2 laser market, with a value share worldwide. It is projected to grow at a x% CAGR between 2022 and 2028. Using CO2 lasers in design for manufacturing (DFM) has become more prevalent in several industrial areas. By determining if a product design can be implemented into a production process, DFM assists manufacturers in making a manufacturing process more straightforward, affordable, and effective. Because CO2 lasers can achieve high precision cutting even for complex designs, manufacturers can now use increasingly sophisticated techniques in their manufacturing processes. However, due to their greater imaging accuracy, CO2 lasers are increasingly employed in military applications for LIDAR imaging, which is a superior alternative to satellite imaging.

Asia Pacific CO2 Laser Market:
The Asia Pacific market is expected to increase in the global CO2 laser market over the forecast period. It is projected to grow at a CAGR of x% in the coming years. A growing number of automotive and consumer electronics device manufacturers are continuously focusing on expanding their operations and manufacturing units across the different parts of Asia Pacific, which is why it is predicted that this region will experience the most profitable market in the coming years. The government's ongoing emphasis on robotics research and development is another critical driver of the market's expansion in the Asia Pacific region. Due to its rapid industrialization and rising adoption of new technologies across various end-use industry verticals, the Asia Pacific region is predicted to experience the fastest growth in the market for this product.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global CO2 laser market further reveals that the key players are increasingly adopting strategies such as launching newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

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The CO2 laser market is segmented based on application, output power, end-user, and geography.
Based on the application, the market is segmented into the following:
• Therapeutic & Diagnostics
• LIDAR Imaging
• Cutting & Perforations
• Welding
• Drilling

Based on the output power, the market is segmented into the following:
• Up to 50 W
• 50 W to 500 W
• 500 W to 1000 W
• Above 1000 W

Based on the end users, the market is segmented into the following:
• Military & Defence
• Aerospace
• Metal Processing
• Healthcare
• Manufacturing
• Automotive
• Telecommunication

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the CO2 laser market report are TRUMPF, Coherent, Inc., FANUC CORPORATION, Han's Laser Technology Industry Group Co., Ltd, El.En. S.p.A., LIGHTMACHINERY, INC., AMTEC, Epilog Laser, Control Laser Corporation USA Kern Electronics & Lasers, Inc., and PRC Laser Corporation.

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This release was published on openPR.