Lasers Market Size (2024 - 2029)

The lasers market is anticipated to experience substantial growth, driven by increasing demand from the electronics sector and advancements in LiDAR technology. Despite challenges posed by high capital investment, the market's expansion is supported by the rising use of lasers in manufacturing electrical and electronic devices, medical equipment, and automotive applications. The Asia-Pacific region holds a significant portion of the market share, largely due to the growing need for lasers in the communications industry.

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Market Size of Lasers Industry

Lasers Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 13.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

Lasers Market Major Players

*Disclaimer: Major Players sorted in no particular order

Laser Market Analysis

The lasers market is expected to register a CAGR of over 13% during the forecast period.

In 2020, the lasers market was moderately affected due to the COVID-19 pandemic and the temporary shutdown of various industries. However, the increased manufacturing of electrical and electronics, medical devices, and automotive, where lasers are used in significant quantities, propelled the demand for lasers in 2021.

  • Over the short term, the increasing demand for laser systems from the electronics industry is expected to drive market growth.
  • Conversely, the high capital investment may hinder the laser market in the coming years.
  • LiDAR technology is expected to offer new avenues to industry growth during the forecast period.
  • Asia-Pacific dominated the market with a significant share and is estimated to continue its dominance during the forecast period. This growth is attributed to an upsurge in demand for lasers in the communications industry.

Laser Industry Segmentation

Laser stands for light amplification by stimulated emission of radiation. It is a single-wavelength light source that possesses high energy and can be accurately focused on transmitting that light onto a very small area. Laser finds its major application in material processing, cosmetics surgery, and defense. The laser market is segmented by type, application, and geography. By type, the market is segmented into fiber lasers, diode lasers, CO/CO2 lasers, solid-state lasers, and other types. By application, the market is segmented into communications, materials processing, medical and cosmetics, lithography, research and development, military and defense, sensors, displays, and other applications. The report also covers the market size and forecasts for the lasers market in 12 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).

Type
Fiber Lasers
Diode Lasers
CO/CO2 Lasers
Solid State Lasers
Other Types
Application
Communications
Materials Processing
Medical and Cosmetics
Lithography
Research and Development
Military and Defense
Sensors
Displays
Other Applications (Marking, Optical Storage, Printing)
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
Rest of the World
South America
Middle East and Africa
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Lasers Market Size Summary

The laser market is poised for significant growth, driven by increasing demand across various sectors such as electronics, medical devices, and automotive industries. Despite the initial impact of the COVID-19 pandemic, which led to temporary industry shutdowns, the market rebounded as these sectors ramped up production. The electronics industry, in particular, is expected to be a major contributor to market expansion in the short term. However, the high capital investment required for laser systems may pose challenges to market growth. Innovations in LiDAR technology are anticipated to open new growth avenues, while the Asia-Pacific region, particularly China and India, is expected to maintain its dominant position due to rising demand in the communications industry.

Laser communication technology is gaining traction due to its advantages over traditional radiofrequency methods, such as higher bandwidth, lower power loss, and enhanced security. This technology is increasingly integrated into fiber-optic networks, offering high-quality, long-distance communication capabilities. The telecommunications sector in India and China is experiencing robust growth, with significant investments and developments, further boosting the demand for lasers. The market is partially consolidated, with key players like TRUMPF, Coherent Corp., and IPG Photonics Corporation leading the industry. Recent strategic moves, such as Lumentum Holdings Inc.'s expansion in Slovenia and IIVI Incorporated's acquisition of Coherent, Inc., highlight ongoing efforts to strengthen market positions and explore new opportunities in industrial, communications, electronics, and instrumentation sectors.

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Lasers Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand for Laser Systems from the Electronics Industry

      2. 1.1.2 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 High Capital Investment

    3. 1.3 Industry Value-Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Type

      1. 2.1.1 Fiber Lasers

      2. 2.1.2 Diode Lasers

      3. 2.1.3 CO/CO2 Lasers

      4. 2.1.4 Solid State Lasers

      5. 2.1.5 Other Types

    2. 2.2 Application

      1. 2.2.1 Communications

      2. 2.2.2 Materials Processing

      3. 2.2.3 Medical and Cosmetics

      4. 2.2.4 Lithography

      5. 2.2.5 Research and Development

      6. 2.2.6 Military and Defense

      7. 2.2.7 Sensors

      8. 2.2.8 Displays

      9. 2.2.9 Other Applications (Marking, Optical Storage, Printing)

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 France

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 Rest of the World

        1. 2.3.4.1 South America

        2. 2.3.4.2 Middle East and Africa

Lasers Market Size FAQs

The Lasers Market is projected to register a CAGR of greater than 13% during the forecast period (2024-2029)

IPG Photonics Corporation, TRUMPF, Han's Laser Technology Industry Group Co., Ltd., Coherent Corp. and Lumentum Operations LLC are the major companies operating in the Lasers Market.

Laser Market Report Snapshots

Laser Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)