It is anticipated that the Laser Processing Market would increase from USD 4.0 billion in 2020 to USD 5.8 billion by 2025, at a projected CAGR of 7.8%.
Currently, Coherent (US), Trumpf (Germany), Han's Laser (China), IPG Photonics (US), and Jenoptik are the market leaders (Germany). Product launches and advancements, expansions, partnerships, and mergers and acquisitions are a few of the key strategies used by these businesses to compete in the laser processing market.
According to the prediction, the market for laser processing will experience the fastest CAGR growth in the solid lasers sector.
The market for solid lasers is anticipated to expand at the fastest rate. Solid lasers produce both continuous and pulsed output with great efficiency while preventing the waste of materials in the active medium. These lasers can be used for a variety of tasks, including drilling holes in metal, endoscopy in the medical field, and military targeting.
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During the anticipated period, the system revenue sector will hold a greater market share in laser processing.
During the forecast period, a bigger market share for the system revenue segment is anticipated. Sales of several kinds of laser processing systems, such as those for marking and engraving, welding and brazing, cutting and scribing, drilling, cladding and coating, annealing, material removal, and other multi-function laser processing systems, produce system revenue.
According to forecasts, the hybrid configuration segment will dominate the laser processing market.
During the anticipated period, the hybrid configuration segment is anticipated to account for the majority of the laser processing market. A hybrid system is more effective than a moving beam system because it allows for a very simple beam delivery system and maintains a constant beam delivery path length. This is because the hybrid system has both a moveable table and a moveable head.
"The laser processing market's end-user industry sector for architecture is expected to develop at the greatest CAGR during the projected period"
The industry segment serving end users in architecture is anticipated to grow at the fastest rate. Lasers aid architects in producing accurate building models. These models are able to depict the design correctly before building begins, allowing the required adjustments to be done to fix defects or mitigate the effects of weather conditions like rain, strong storms, and other inevitable natural occurrences.
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