According to a new market research report "Laser Cutting, Drilling, Marking and Engraving Market by Technology (Co2 Laser, Excimer Laser, ND: YAG Laser, Fiber Laser); Base Material (Metals, Polymers); Application (Electronics, Machine Part Marking, Medical, Signage) & Geography- (2013 – 2018)" ,published by MarketsandMarkets , the value of laser processing market was $2.08 billion in 2012 and is expected to reach $3.77 billion in 2018, at an estimated CAGR of 9.71% from 2013 to 2018.
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The material processing tasks both micro-processing and macro-processing were earlier done with the help of mechanical tools such as saw cutters, drill bits and so on. However, the technological developments and rapid adoption of lasers for the material processing purpose in previous decade changed the market scenario vastly.
Apart from outclassing mechanical tools in every comparison, the laser processing market is experiencing a positive growth trend because of the boost from the government bodies, regulatory bodies, and associations of various kinds. Federal Aviation Administration (FAA) making it compulsory to have wires and parts to laser marked or Food and Drug Administration (FDA) pushing manufacturers to mark equipments and drug packages are just few examples of the growing usage of laser material processing techniques. Along with such drivers, the report analyses restraints and opportunities pertaining to the laser material processing.
The entire market is divided in to various segments and micro-markets. The segments discussed in the report are: technology, process types, machine configuration types, verticals, applications, and geographical market distribution. Each of the above mentioned segment is further broken down into sub-categories. Apart from the quantitative datasets, the report also analyses the parameters such as; value chain analysis, porters five force analysis, and impact analysis of market dynamics (drivers, restraints, and opportunities).
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