With a projected CAGR of 7.8%, the Laser Processing Market Size is expected to grow from USD 4.0 billion in 2020 to USD 5.8 billion by 2025. The end-user industries' growing preference for laser-based material processing over traditional techniques, the rise in demand for authentic, high-quality finished goods, the need for the miniaturisation of microelectronic devices, and the quickening pace of technological development in the medical sector are the main drivers of the laser processing industry's expansion.
Coherent (US), Trumpf (Germany), Han's Laser (China), IPG Photonics (US), Jenoptik (Germany), Lumentum (US), Gravotech (France), LaserStar (US), Lumibird (France), and Epilog Laser (US).
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Top two players in global laser processing market
Coherent (US) dominated the laser processing industry in 2019. It provides industrial and fibre laser solutions and works with gas lasers (CO, CO2, excimer, and ion), diode-pumped solid-state lasers, fibre lasers, semiconductor lasers, and ultrafast lasers. These laser technologies are used by many end-user industries, such as manufacturing, medical research, electronics, military & defence, and healthcare. The primary factors influencing Coherent's market leadership are a powerful worldwide brand name, a well-balanced product portfolio, the capacity to retain clients, and a global presence. By acquiring new innovations, increasing its technological portfolio, and diversifying its product lines into new markets and regions, the company is making significant efforts to grow. Coherent is present throughout the Americas, Europe, Middle East & Africa, and Asia Pacific (APAC). Lambda Physik USA, Inc. (US), Coherent GmbH (Germany), Coherent Ltd. (UK), Coherent Japan KK (Japan), and Coherent Commercial Company Ltd. (China).
Trumpf is one of the market's leading players in the laser processing sector (Germany). Through more than 70 of its subsidiaries, the corporation has created a presence in Asia Pacific, North America, South America, and Europe. 17 production facilities are also located in Europe. Some of its subsidiaries are PT TRUMPF Indonesia, KOZ Makina (Turkey), Ferdinand-Braun-Institut (Germany), TRUMPF Homberger s.r.l. (Italy), Trumpf GMBH Korea Co., Ltd. (South Korea), and Leibniz-Institut für Hochstfrequenztechnik (FBH) (Germany) (Indonesia). In order to broaden the breadth of its already substantial line of laser processing goods, the company is now working on this. The company invested USD 443 million in R&D in 2019 to support organic growth. The company has also been focusing on increasing its global reach. As part of these steps to boost production capacity, the firm invested roughly USD 27 million in JFY, a Chinese subsidiary, and TRUMPF China, a Chinese division, in May 2018. The company earlier built a logistics centre in October 2017 at its headquarters in Ditzingen, Germany, with an estimated investment of USD 53 million in order to support quicker delivery of consumables and replacement components.
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