Laser Processing Machine Market

Global Laser Processing Machine Market Size (2024 to 2029)

The size of the global laser processing machine market is expected to be worth USD 18.76 Billion in 2024 and USD 29.26 Billion by 2029, growing at a CAGR of 9.3% from 2024 to 2029.

Laser processing machines use laser technology for a variety of tasks such as cutting, welding, marking, engraving, and additive manufacturing. The various materials processed by these machines include metals, glass, and plastics, which enable applications in end-use industries. The automotive sector is expected to become one of the major industries in the laser machining market during the forecast period due to the recent industrialization aimed at reducing vehicle weight by selecting lightweight materials such as magnesium and titanium. Other key factors driving the market are, among other things, the increasing benefits of laser technology over traditional material handling techniques and the preference for automation.

Global Laser Processing Machine Market Drivers:

Material processing involves various processes such as metal and non-metal engraving, cutting, marking, and drilling. Laser technology has many advantages over traditional technologies such as plasma technology, flames, and water jets. Plasma and frame techniques are used for cutting purposes rather than engraving, marking, and drilling processes, while waterjets are used for ablation and structuring processes. However, the water jet makes a loud noise during operation, which makes material processing inconvenient. On the contrary, laser technology can perform all the above steps efficiently and without noise pollution. Therefore, these factors are expected to drive the growth of the global laser machining market over the forecast period.

Global Laser Processing Machine Market Restraints:

Despite many advantages, laser machining faces many obstacles, one of which is high cost. Traditional plasma cutting requires a relatively low maintenance cost of $ 5,000 per year, while laser technology costs up to $ 10,000 per year. Increasing acceptance of laser technology pushes prices down, but it remains an expensive technology to integrate. Therefore, these factors are expected to impede the growth of the global laser machining market over the forecast period.

REPORT COVERAGE:

This research report on the global laser processing machine market has been segmented and sub-segmented based on laser type, Revenue, configuration, and region.

• By Laser Type:

• Gas Lasers
• CO2 Lasers
• Excimer/Diode Lasers
• Argon Lasers
• Chemical Lasers
• He–Ne Lasers

• Solid Lasers

• Yttrium Aluminium Garnet (YAG) Lasers
• Semiconductor Lasers
• Thin-disk Lasers
• Ruby Lasers
• Fibber Lasers

• Liquid Lasers

• X-ray Lasers
• Dye Lasers
• Others

The solid-state laser segment is expected to grow at the highest growth rate. Solid-state lasers avoid wasting material in the active medium and generate both continuous and pulsed outputs with high efficiency. These lasers have a variety of uses, such as drilling holes in metal, medical endoscopy, and military sighting.

Global Laser Processing Machine Market - By Revenue:

• Laser Revenue
• System Revenue

The system revenue segment is expected to hold a large market share during the forecast period. System revenue includes revenue from the sale of various types of lasers machining systems, including. Systems for marking and engraving, welding and soldering, cutting and scribing, drilling, plating and coating, annealing, material removal, and other multifunction laser machining systems.

Global Laser Processing Machine Market - By Configuration:

• Laser Processing Configuration
  • Fixed Beam
  • Moving Beam
  • Hybrid

• Laser Cutting and Engraving Configuration
  • Raster Mode
  • Vector Mode

During the forecast period, the hybrid composition segment will account for the majority of the laser machining market. Because they provide a constant-length beam delivery path and allow for a relatively simple beam delivery system, hybrid systems are more efficient than moving beam systems. This is due to the hybrid system's use of moving tables and moving heads.

Global Laser Processing Machine Market – By Region:

• North America
•  Europe
• Asia Pacific
• Latin America 
• Middle East and Africa

The Asia Pacific region (APAC) is expected to have the largest share of the global laser machining market during the forecast period. Major countries contributing to the Asia Pacific market include China, Japan, South Korea, and India. APAC has led the adoption of laser processing solutions compared to other regions. High population densities, increased R&D investment in technology, and growth in the manufacturing and electronics sectors are expected to drive market growth in the region.

KEY MARKET PLAYERS:

Major Key Players in the Global Laser Processing Machine Market are Coherent, Trumpf, Han’s Laser, IPG Photonics, Jenoptik, Lumentum, Gravotech, LaserStar, Lumibird,  Epilog Laser, and others.

RECENT HAPPENINGS IN THE MARKET:

• TRUMPF acquires a minority stake in French laser technology startup GLOphotonics - On December 18, 2019, high-technology company TRUMPF acquired a minority stake in French laser technology startup GLOphotonics. The Limoges-based firm creates and manufactures a special optical fiber for use in material processing applications.
• The First Adjustable Ring Mode (ARM) Switchable Fiber Laser - The new Coherent HighLightTM FL-ARM with Fiber-Fiber-Switch is a dual fiber output laser with a high power (2 - 8 kW) that can power two separate workstations or processes sequentially. Dual fiber output increases throughput in cost-sensitive, high-volume welding applications, especially in automotive manufacturing, such as door welding.