Global Laser Technology Market report from Global Insight Services is the single authoritative source of intelligence on Laser Technology Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Global Laser Technology Market is expected to reach $23.2bn by 2031 growing at a CAGR of 7.3% between 2021-2031.
Laser technology is a type of technology that uses a focused beam of light to cut, engrave, or otherwise alter materials. The market for laser technology is driven by the increasing demand from the automotive and aerospace industries. In the automotive industry, laser systems are commonly used to cut airbag textile and composite materials.
COVID-19 Impact Analysis:
The COVID-19 pandemic wreaked havoc all over the globe. The majority of the business sector was negatively impacted, resulting in lower demand for their products. The manufacturing industry was badly impacted by supply chain disruptions, a lack of manpower, a lack of raw materials, and other factors, all of which resulted in a reduction in demand for the particular business.
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Key Trends and Drivers:
- The surge in demand from the healthcare sector is a key factor driving the laser technology industry forward. A medical laser is a non-invasive, high-intensity light source that treats tissues and promotes rapid healing without discoloration or scarring. This laser is used in dermatology, urology, ophthalmology, and dentistry to treat a variety of conditions. The treatment of a variety of ailments, as well as the growing need for non-invasive therapies, necessitate the use of medical lasers.
Market Segments:
By Type
- Solid-state Lasers
- Fiber Lasers
- Ruby Lasers
- YAG Lasers
- Thin-Disk Lasers
- Gas Lasers
- CO2 Lasers
- Excimer Lasers
- He-Ne Lasers
- Argon Lasers
- Chemical Lasers
- Liquid Lasers
- Semiconductor Lasers
By Application
- Laser Processing
- Macro processing
- Cutting
- Drilling
- Welding
- Micro processing
- Marking & Engraving
- Macro processing
- Optical Communications
By End Use Industry
- Healthcare
- Automotive
- Telecommunications
- Industrial
- Semiconductor & Electronics
- Aerospace & Defense
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Key Players:
- IPG Photonics Corporation
- Lumentum Holdings Inc.
- Novanta Inc.
- LaserStar Technologies Corporation
- Epilog Laser
- Gravotech
- Bystronic Lasers
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Ground breaking research and market player-centric solutions for the upcoming decade according to the present market scenario
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