Laser Processing Market

The laser processing market is estimated to be worth USD 6.8 billion in 2024 and is projected to reach USD 11.0 billion by 2029 at a CAGR of 10.1% during the forecast period. The market growth for laser processing is attributed to the surging demand of laser processing in medical applications.

The major players in the laser processing market with a significant global presence are Coherent Corp. (US), TRUMPF (Germany), Han’s Laser Technology Industry Group Co., Ltd (China), IPG Photonics Corporation (US), JENOPTIK AG (Germany). The market players have adopted various strategies, including the advancement of products, collaborative partnerships, contractual agreements, business expansions, and acquisitions, all aimed at fortifying their market standing. These comprehensive strategies, both organic and inorganic, have facilitated the global expansion of market players through the provision of sophisticated laser processing.

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MajorLaser Processing Companies Include:

• Coherent Corp. (US)
• TRUMPF (Germany)
• Han’s Laser Technology Industry Group Co., Ltd (China)
• IPG Photonics Corporation (US)
• Jenoptik AG (Germany)

Coherent Corp. is a provider of industrial and fiber laser solutions. The company manufactures photonics and offers lasers, and laser-based technologies and system solutions for a range of scientific, commercial and industrial applications. The company’s product portfolio includes lasers, laser machines and systems, beam delivery components, and optical fibers. Company operates in 3 segments named Networking, Materials and Lasers. Its product offerings are laser optics and accessories for CO2 lasers, high-power fiber and direct-diode laser optics, solid-state lasers from 193 nm to 355 nm, ultrafast lasers from UV to IR wavelengths, high pulse energy UV nanosecond lasers, kW class continuous-wave gas IR lasers. Material segment offers some product for laser technology. However, Laser segment offers majority of the product related to laser processing.

TRUMPF manufactures machine tools, including machines and systems, lasers, power electronics products, power tools, and smart factory solutions, and offers software and services for the automotive, manufacturing, construction, electronics, power & energy, aerospace & defense, engineering, and medical & healthcare verticals.

The company operates through four business segments—Machine Tools, Laser Technology, EUV Business and Others. The Machine Tools segment offers systems for laser processing, bending, punching, combined punch, laser cutting, and welding applications. The Laser Technology segment provides lasers for marking, cutting, welding, and surface treatment applications. Its product portfolio includes disk laser, fiber laser, diode laser, short and ultrashort laser, pulsed laser, CO2 laser, EUV drive laser which used in different verticals.

Han’s Laser Technology Industry Group Co., Ltd is engaged in the manufacturing of laser equipment and provides laser marking, laser welding, laser cutting, and laser cleaning machines. The company offers more than 200 machine models, including Laser Engraving/Marking Series, Laser Welding Series, Laser Cutting Series, Sub-Surface Engraving Series, Laser Display Series, and so on. Han’s Laser Technology Industry Group Co., Ltd has operations in Asia, the Americas, the Middle East & Africa, and Europe.

IPG Photonics Corporation is a manufacturer of fiber lasers and amplifiers. The company operates in 4 segments named Material processing, medical procedures, Advanced applications, and Communications. Its product portfolio includes fiber lasers, commercial fiber and diode laser modules, subassemblies ultrafast, CW and QCW ytterbium, erbium, thulium fiber and hybrid lasers and diode laser systems. LightWELD product line offers a handheld laser welding system that is easier to learn and operate than traditional solutions and offers high process consistency. IPG Photonics has sales offices in the Americas, Europe, and Asia Pacific, and major manufacturing facilities in the US, Germany, and Russia.

JENOPTIK AG is an integrated photonics solutions provider operates through three business segments: Advanced Photonic Solutions, Smart Mobility Solutions and Non-Photonics Portfolio Companies and Other. The product offerings of the companies are Imaging solutions and cameras, laser and laser technology, LiDAR technology, optical test and measurement solutions, optics and optical systems. The laser and laser technology products fall under Advanced Photonics Solutions. The company has a presence in over 80 countries across Europe, the Americas, Asia Pacific, and the Middle East & Africa.

Related Reports:

Laser Processing Market by Laser Type (Solid Lasers, Liquid Lasers, Gas Lasers), Configuration (Fixed Beam, Moving Beam, Hybrid), Application (Cutting, Welding, Drilling, Marking and Engraving), End-user Industry and Region - Global Forecast to 2029

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