Dublin, Dec. 15, 2014 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/7sjw4q/laser_processing) has announced the addition of the "Laser Processing Market by Application, Laser type, Machine Configuration, Vertical, Geography - Global Forecast to 2020" report to their offering.
The laser processing market is expected to grow to $ 17.36 billion by 2020, at an estimated CAGR of 6.18% between 2014 and 2020. There has been a significant growth in demand for different types of lasers used in material laser processing which have a drastically reduced laser size, high wall plug efficiency, low power consumption, and less cost. Due to technological advancements pertaining to semiconductors, fiber laser materials, and mounting technologies, it is anticipated that laser processing market would continue to expand at a steady rate, in the next seven years.
The fiber lasers and disk lasers would continue to play a significant role in energy storage for pulsed systems. Furthermore, the emerging new optical combination schemes are expected to provide an impetus to the growth of the laser processing market. All these types of laser technologies provide high precision cutting, welding, and drilling with less damage to the material. This has encouraged manufacturers in different industries including automotive, aerospace, and original equipment manufacturers (OEM), among others to utilize laser technology in material processing.
The laser processing market comprises five different segments which include technology, application, machine configuration, industry vertical, and geography. Each of the verticals is further segmented into individual sub-segments. The industry segment covers major verticals such as aerospace, architecture, automobile, machine tooling, medical, along with, semiconductor & electronics. The technology segment includes various laser types such as CO2 lasers, excimer lasers, solid state lasers, fiber lasers, and semiconductor lasers. The total laser processing market is fragmented into four regions; North America, Europe, APAC, and ROW.
This report describes the various industry trends, drivers, restraints, and opportunities pertaining to the laser technology market and forecasts the market, till 2020, based on technology, application, machine configuration, industry verticals, and geography. Factors such as increasing adoption of fiber lasers in medical sector, growing need for advanced processing tools and techniques in industries such as oil & gas, automotive, and machine tooling is driving the overall market.
Marking and engraving applications for ICs (Integrated Circuits) and chips in semiconductor and electronics industry is also driving the market for laser processing. The different laser technologies include gas lasers, solid-state lasers, fiber lasers, and semiconductor laser. Amongst these, gas & fiber lasers are the most common type of lasers used for laser processing and marking, due to their high output power capabilities.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Market Analysis, By Laser Technology Type
8 Market Analysis, By Machine Configuration
9 Market Analysis, By Application
10 Market Analysis, By Vertical
11 Geographic Analysis
12 Competitive Landscape
13 Company Profile
- Alltec GMBH
- Coherent, Inc.
- Epilog Laser
- Eurolaser GMBH
- IPG Photonics Corporation
- Jenoptik AG
- Laserstar Technologies
- Newport Corporation
- Rofin-Sinar Technologies, Inc.
- Trumpf Group
For more information visit http://www.researchandmarkets.com/research/7sjw4q/laser_processing
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Source:Research and Markets