Evolving Technology Stoking Industrial Laser Market

24 May 2016—A recently published report from the consulting firm BCC Research forecasts growth in the worldwide industrial laser market from an estimated US$4.6 billion in 2015 to US$6.3 billion in 2020—a compound annual growth rate (CAGR) of some 6.6 percent. Driving the market, according to the report, will be continued advancement in technology, particularly in the fiber laser segment, as vendors seek to meet an increased focus on production efficiency and product quality among industrial customers.
 
The report envisions that the Asia-Pacific region will remain the biggest market for industrial lasers over the next few years, and that a substantial share of market growth will be focused there—especially in China, Japan and South Korea—in keeping with the region’s increasing focus on automation and on building new business.
 
The analyst behind the BCC report, Sinha Guarav, emphasizes that industrial lasers—the market for which has tended to grow even in years of global economic softness—remain a focus of active technical development, and that development should push continued market expansion. Emerging segments such as disk lasers and fiber lasers could prove especially strong growers. Fiber lasers in particular appear poised for an impressive showing, notes Guarav, who envisions that market segment growing at a CAGR of 8.5 percent—well ahead of the 6.6 percent growth envisioned for the market as a whole—and reaching US$1.9 billion by 2020.
 
Spurring the growth in the fiber laser segment, according to the report, are a number of advantages to industrial end-users. These include “high peak power and nanosecond pulses, which enable effective marking and engraving,” Guarav said in a press release, as well as compact size, reliability, and a low overall cost of ownership.
 
More information on the report, including pricing, can be found at http://www.bccresearch.com/market-research/photonics/lasers-industrial-applications-markets-report-pho005b.html .