Tuesday, 5 January 2016

Automotive Application Segment Stimulates Major Demand from Laser Processing Market

One of the most significant inventions of the 20th century is the laser processing technology that has changed many aspects of the modern life, primarily including industrial and commercial applications. The ubiquity of lasers has put several aspects into the right perspective by virtue of the fact that laser technology offers rapid and accurate industrial results when put to use in industrial processing and manufacturing, which is the reason for the soaring demand for the market from all over the world. The use of lasers remains at the forefront of numerous upcoming technologies typically used in medical, scientific, military, industrial, and commercial applications.

Browse Full Global Laser Processing Market Report With Complete TOC @ http://www.transparencymarketresearch.com/global-laser-processing-market.html

Laser Processing Market Set to Continue Growth Streak till 2020

Due to a wide range of applications of laser technology, demand from the global laser processing market is likely to rise in the forthcoming years and is estimated to reach US$10.26 billion by 2020. Being a non-contact process, one of the main factors fueling growth of the laser processing market is the potential of laser processing for providing clean and damage-free operation. Worldwide, manufacturing industries are in need of efficient materials and processing techniques for the production of various industrial and electronic products. It is during such times that the laser processing market plays a critical role in accomplishing specific industrial jobs and notching up its unwavering presence in the global market.

Moreover, due to a number of beneficial features offered by this technology, the recent years have witnessed a significant growth in the usage of laser diodes across various end-use markets in the electronics arena. The laser processing techniques utilized to manufacture infallible laser diodes act as a key factor driving the overall laser diode market over other conventional laser technologies in the world. In addition, the rapid growth in the number of government regulations mandating the use of laser technology for engraving and marking specifications in various products has propelled the overall market for laser processing. This growth is further augmented by laser products often being used in medical surgeries and other medical applications. According to Transparency Market Research’s in-depth study on the laser processing market, demand for this technology is anticipated to continue to rise in the future, at a CAGR of 10.2% from 2014 to 2020. The market is expected to reach US$17.26 billion in the next five years, from a value of US$8.76 billion in 2013.

Widely Used Applications of Laser Processing Market

Various laser technologies such as fiber lasers, CO2 lasers, and solid state lasers are used in several application processes such as welding, cutting or marking, and engraving in small dimensions. Based on the requirement and area of application, the dynamics of the laser processing market comes into play. The usage of laser diodes for the purpose of engraving, molding, and lighting of automotive plastics in auto manufacturing units makes the automotive application segment a leading industry for the use of laser processing techniques. This application segment led the overall market with a 25.35% share of the global laser diode market by revenue. This application segment is expected to continue to lead the market till 2020.

Laser processing is also used extensively across various application segments such as industrial, healthcare, defense, and consumer electronics, and the demand from these segments is expected to continue to rise in the next few years. In 2013, the overall Asia-Pacific region led the global laser processing market with a market share of more than 42.6%. Countries in the Asia-Pacific region, especially China, South Korea, and Japan are currently leading the global market for laser processing due to the rising adoption of laser technology for material processing in the automotive and aerospace industries. Growth in these countries is expected to lead the APAC laser processing market over the forecast period.

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