Market Size of Global High Power Laser Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.10 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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High Power Laser Systems Market Analysis
The Global High Power Laser Systems Market is expected to register a CAGR of 7.1% during the forecast period (2022-2027). The key drivers boosting the market growth include the increasing adoption of fiber lasers in industrial applications like cutting and welding and rising demand from end-user industries like automotive, healthcare, aerospace & defense.
- The market is witnessing robust demand for interconnected machines with advanced laser head sensors and artificial intelligence algorithms for advanced process monitoring and control features. These machines can be integrated with other systems and management software, thus maximizing efficiency and productivity.
- This enables the high-power laser machine to be managed by software for all phases, including importing production orders generated by the user's system, automatic programming, production planning and creation of worklists to be loaded onto the machine, collection of machine data on production (pieces produced, materials used) and performance (machine status, alarms, processing times), and offer the data necessary for production control management systems, all the while being fully compliant to Industry 4.0 law requirements.
- Automotive and general manufacturing operations use high-power laser cutting processes to shorten process cycle times. The combination of reduced tooling costs and flexibility in materials is leading to the rapidly increased use of laser cutting.
- Further, high-power diode lasers with outputs of ten or more kilowatts are opening new application scenarios for laser cladding. Particularly sustainable and resource-efficient coatings can be produced and applied, for instance, in automotive, machine construction, and other industries. To advance the idea, in April 2022, together with industrial partners, the Fraunhofer Institute for Material and Beam Technology IWS, developed applications and specific processes for this laser class to industry readiness under the label "HICLAD," which enables resilient laser cladding with a high-power laser.
- On the flip side, high costs associated with the deployment of laser technology, strict regulatory framework and policies imposed by the government, and a lack of skilled personnel and expertise restrict the market and hamper its growth. Also, the laser industry suffered significantly from the impacts of the covid-19 pandemic. Manufacturing and automotive industries, in which high-power lasers are widely used, witnessed a slowdown owing to production restrictions in 2020, resulting in a decline in the overall demand for laser systems. However, the resumption of production activities has revived the demand for lasers, which is expected to increase further.
High Power Laser Systems Industry Segmentation
High-power lasers emit very high optical powers and are capable of continuous output powers ranging from hundreds to tens of thousands of watts for directed energy delivery, particularly in materials processing and laser machining.
The Global High Power Laser Systems Market is segmented by Application (Cutting, Welding) and Geography. The scope comprises laser systems (or machines) that use a laser of 1kW or more power.
Global High Power Laser Systems Market Size Summary
The Global High Power Laser Systems Market is experiencing significant growth, driven by the increasing adoption of fiber lasers in industrial applications such as cutting and welding, and the rising demand from sectors like automotive, healthcare, and aerospace & defense. The market is characterized by a robust demand for interconnected machines equipped with advanced laser head sensors and artificial intelligence algorithms, which enhance process monitoring and control. These advancements enable high-power laser machines to be integrated with management software, maximizing efficiency and productivity while adhering to Industry 4.0 standards. The automotive and general manufacturing sectors are particularly benefiting from high-power laser cutting processes, which reduce cycle times and tooling costs, thereby increasing flexibility in material usage. Additionally, high-power diode lasers are opening new application scenarios for laser cladding, offering sustainable and resource-efficient coatings for various industries.
Despite the promising growth prospects, the market faces challenges such as high deployment costs, stringent regulatory frameworks, and a shortage of skilled personnel. The COVID-19 pandemic had a notable impact, causing a slowdown in industries reliant on high-power lasers, but demand has since rebounded with the resumption of production activities. The Asia Pacific region, particularly China and Japan, is witnessing substantial growth due to improved economic conditions and strategic initiatives like "Made in China 2025." These developments have positioned laser technology as a crucial component in high-end manufacturing. The market is moderately fragmented, with key players like Prima Industrie S.p.A, IP Photonics Corporation, and Coherent Inc. focusing on expanding their customer base and enhancing product offerings through strategic collaborations and technological advancements.
Global High Power Laser Systems Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Force Analysis
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1.2.1 Bargaining Power Of Suppliers
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1.2.2 Bargaining Power Of Consumers
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1.2.3 Threat Of New Entrants
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1.2.4 Intensity Of Competitive Rivalry
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1.2.5 Threat of Substitute Products
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1.3 Type of Laser Sources Used on the Systems (Fiber, Disk, Diode, and CO2)
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2. MARKET SEGMENTATION - BY APPLICATION
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2.1 Cutting
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2.2 Welding
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2.3 Others (Cladding, Hardening, Cleaning and Ablation)
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Global High Power Laser Systems Market Size FAQs
What is the current Global High Power Laser Systems Market size?
The Global High Power Laser Systems Market is projected to register a CAGR of greater than 7.10% during the forecast period (2024-2029)
Who are the key players in Global High Power Laser Systems Market?
Prima Industrie S.p.A, IP Photonics Corporation, Bystronic Laser AG, Coherent Inc. and Preco Inc. are the major companies operating in the Global High Power Laser Systems Market.
