by The global Laser Automation Market is estimated to be valued at US$ 6.48 Bn in 2023 and is expected to exhibit a CAGR of 7.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Laser automation refers to use of lasers in industrial automation applications. Laser processes such as cutting, welding, marking and engraving are used in various industries for material processing. Laser automation offers benefits such as precision processing, flexibility and cost effectiveness.
Market key trends:
One of the key trends in the laser automation market is adoption of fiber lasers. Fiber lasers offer advantages over traditional CO2 and solid state lasers such as high efficiency, reliability and flexibility. Fiber lasers generate laser beam using doped optical fibers and therefore do not require external resonator design. They are increasingly being adopted over traditional lasers across industries for applications requiring high power and precision such as cutting of hard metals and welding of specialty alloys.
One of the key trends in the Laser Automation Market is the increasing adoption of laser technology for material processing applications. Lasers provide precision cutting of intricate shapes in materials like metal, plastic and electrical circuits at high speeds. Many automotive, electronics and semiconductor manufacturers are utilizing laser cutting systems for automating complex material processing tasks which is driving the demand for laser automation solutions.
SWOT Analysis
Strength: Laser automation systems offer precision, speed and flexibility for a wide range of manufacturing applications. Lasers can cut, weld, drill and engrave most materials with minimal heat impact.
Weakness: High initial investment requirements for laser automation equipment. Specific laser types are only suitable for certain materials.
Opportunity: Growing automation needs across industries due to labor shortage and demand for mass customization. Emerging applications in sectors like aerospace and medical devices.
Threats: Threat from other emerging technologies that can automate tasks like 3D printing. Trade wars and economic slowdowns impacting capital expenditure.
Key Takeaways
The Global Laser Automation Market Size is expected to witness high growth, exhibiting CAGR of 7.0% over the forecast period, due to increasing need for precise material processing in manufacturing industries.
The Asia Pacific region is expected to dominate the Laser Automation Market, with China, Japan and India being the major regional markets. The key factor driving the Laser Automation Market in Asia Pacific is growing manufacturing footprint and rising labor costs which are prompting companies to automate production processes.
Key players operating in the Laser Automation Market are Trumpf GmbH + Co. KG, Coherent, Inc., IPG Photonics Corporation, Han’s Laser Technology Industry Group Co., Ltd., Rofin-Sinar Technologies Inc., Jenoptik AG, Amada Miyachi America, Inc., Newport Corporation, Prima Power, Fanuc Corporation. Trumpf GmbH and Coherent Inc. are identified as the market leaders due to their wide laser automation product portfolio and global presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
