According to a new report published by Prudent Markets, titled, “Industrial Lasers Systems Market by Type, Power,and Application: Global Opportunity Analysis and Industry Forecast, 2019–2026,” the global industrial lasers systems market size was valued at $20.1 billion in 2018, and is projected to reach $36.5 billion by 2026, registering a CAGR of 7.5%from 2019 to 2026. By type, the macro processingsegment accrued the largest share in the industrial lasers systems market in 2018. Growth in demand for lasers in industrial applications such as additive manufacturing, marking, cutting, and welding fuels the demand for lasers for macro processing applications.In addition, expansion of the automotive and metal cutting industry throughout the globe, especially in emerging nations such as China and Indiadrives the industrial lasers systems market growth. Moreover, industrial lasers systems  are popular owing to their advantageous features such asan excellent beam quality, compact size, robustness, and low maintenance cost.Thus, such advantageous features are expected to fuel the demand for the industrial lasers systems  market in the coming years.

On the basisofpower,the more than 1.1 kWsegment garnered a significant market share in 2018, owing to increase in need of lasers of high-power capacity in industries such as aerospace & defense. By application, the others segment accounted for a large share in terms of revenue in 2018. Furthermore, in terms of region, Asia-Pacific and Europe collectively contributed around 79.3% of the shares in the global industrial lasers systemsmarket in 2018.

According to Amar Chinchane,LeadAnalyst, Construction and Manufacturing at Prudent Markets, “A number of domestic players are expanding their business in the Asia-Pacificregion, owing to increased customer base, enhanced effective operations, developed product portfolios, and expanded geographical reach. This is anticipated to fuel the demand forindustrial lasers.Furthermore, bypower, less than 1 kWsegment is expected to experience a rapid surge in demand due to its excellent beam quality, compact size, robustness,  low maintenance cost, and durability.”

The key players profiled in the industrial lasers systems market report includes Amonics Ltd., Apollo Instruments Inc., Coherent Inc., IPG Photonics Corporation, Jenoptik Laser GmbH, CY Laser SRL, NKT Photonics A/S, Quantel Group, TRUMPF, and Toptica Photonics AG.

The major players operating in the global industrial lasers systems market have adopted key strategies such as product development and business expansion,to strengthen their market outreach and sustain the stiff competition in the market. For instance, the launch of the Integrated Photonic Systems Roadmap by the American Institute for Manufacturing Integrated Photonics in March 2017, foresees IoT applications to have a predominantly huge influence in this market. In addition, in 2017, Industry 4.0 opportunities continue to emerge; for instance, TRUMPF, a laser machine tool maker opened a new smart factory in Chicago (a city encompassing around 40% of the country's entire sheet metalworking industry) emphasizing on digitally connected manufacturing solutions for the sheet metal process chain.





KEY FINDINGS OF THE STUDY

• The report provides an extensive analysis of the current and emerging industrial lasers systems market trends and dynamics. 

• Depending on type, the macro processingsegment dominated theindustrial lasers systems market, in terms of revenue, in 2018 and is projected to grow at a CAGR 7.3%,during the forecast period.

• By application, theotherssegment led the industrial lasers systems market in 2018.

• LAMEA is projected to register the highest growth rate in the coming years.

• Key market players within the industrial lasers systems market are profiled in this report, and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the industrial lasers systems industry.

• The report provides an extensive analysis of the industrial lasers systems market trends and its emerging opportunities. 

• In-depth,theindustrial lasers systems market analysis is conducted by constructing estimations for the key segments between 2018 and 2026.

• The global industrial lasers systems market forecast analysis from 2019 to 2026 is included in the report.

 

Research Link: https://www.prudentmarkets.com/report/industrial-lasers-systems-market/528/