Report: The global laser processing market will reach 21.3 billion US dollars in 2026, and China is the largest application market

Laser processing has become part of a critical process in some industrial applications. Laser systems are designed to utilize light produced by electromagnetic radiation for material processing activities such as cutting, welding, lithography and engraving. These systems are highly flexible and efficient, with machining speeds much faster than other conventional machine tools.

Laser systems are used for general and microscopic material processing and marking and engraving applications. Generalized laser processing applications include cutting, welding, drilling and marking, and microscopic laser processing applications include micromachining and micromachining of semiconductor printed circuit boards and electronic components. Laser cutting, laser welding, hybrid laser welding, laser marking, laser drilling, laser cladding, laser brazing, and laser cleaning are one of various laser processes.

Although researchers have developed a variety of lasers in recent years, only a few types are used for material processing applications. Each laser variant differs in beam quality and laser beam wavelength, resulting in a rich set of specific applications.

According to a report recently released by StrategyR, the global laser processing market is expected to be worth $16.2 billion by 2022, and is expected to reach a revised $21.3 billion by 2026, with a compound annual growth rate (CAGR) of 7.3 during 2022-2026. %.

According to the analysis, China is the largest regional market for laser processing and is expected to reach $5.3 billion by 2026, growing at a CAGR of 9.6% during 2022-2026.

Given the important role of lasers, the laser processing market is poised to witness strong growth in the coming years. Growing applications of solid and gas lasers for drilling, cutting, engraving, and marking, and increasing demand for lasers in different end industry verticals are driving the growth of the laser processing market.

Industry-wise, the growing demand for high-quality products as well as medical and industrial applications is driving the growth of the laser processing market. Among them, the growth potential of the laser processing market in the medical industry is particularly obvious, as this field often requires the customization of extremely complex patient care device components with high precision.

The increasing use of laser drilling in liquid and gas flow delivery devices has also stimulated the demand for laser processing in the medical industry.

Other medical products processed using lasers include balloons, angioplasty, tubing, and filtering devices. Another technology of great significance in medical device manufacturing is laser welding. Laser welding processes are considered ideal for use in medical devices, where heat-sensitive components are important due to their ability to reduce thermal distortion, due to the fact that laser welding processes can form clean, strong and attractive welds. Few medical products are manufactured using laser welding, including pacemakers, surgical tools, ultra-thin wires and catheters. The laser processing market is poised for high growth owing to the increased use of lasers in surgical and medical devices.

In addition to the medical industry, laser processing is increasingly used in the automotive, semiconductor, aerospace and electronics industries. Laser processing is widely used in the manufacture of electronic components. The increasing application of laser technology in the industrial sector, including material processing applications such as welding, cutting, engraving, and drilling, will drive the market growth, especially in the machine tool application market. Growing demand for machine tool manufacturing and emerging applications in the oil & gas and automotive industries are also expected to stimulate the growth of the global laser machining market. For the automotive industry, the laser cutting process is used in production operations due to its high processing speed and high quality of cut edges. Another factor driving the market growth is the increasing demand for wireless devices, mobile devices, and telecommunication equipment, and increasing commercialization of laser-based photovoltaic (PV) modules with higher throughput, improved module efficiency and reduced processing costs.

Analysed by geographic regions, Asia Pacific is a major market for laser processing systems, as the use of laser systems in various applications is rapidly increasing. The increasing use of various laser technologies in microelectronics and machine tools is driving the growth of the region. The increasing use of laser systems in vertical fields such as construction, aerospace, defense, etc. in complex and time-consuming functions such as marking, engraving, material processing, etc., laser technology has obvious advantages, which also promotes the development of the region. Laser processing market. With dramatic population growth, accelerated urbanization, strong pace of industrialization, infrastructure development and GDP growth, the Asia-Pacific region, led by China and India, continues to be a lucrative arena for the widespread adoption of laser systems. The increase in manufacturing activity, especially due to readily available low-cost raw materials, easy availability of cheap labor and proximity to end customers, has provided a major stimulus to the demand for laser systems in the region in particular.