The Industrial Laser System market is expected to register a CAGR of 7.26% over the forecast period. The various technological advancements in the industrial environment, such as industrial automation, industrial robots, 3D Printing, etc. due to the advent of Industry 4.0 and Industrial IoT, are expected to boost the adoption of laser systems in industries. Companies integrate the existing manufacturing processes with several technological advancements across lasers and laser systems to enhance productivity and stay ahead of the competition. For instance, in November 2019, EOS developed a new Fine Detail Resolution (FDR) technology system for processing polymers. This helped the company maintain a leading position in developing a CO laser solution for powder-based industrial 3D printing.

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– MKS Instruments, Inc. launched spectra-physics Talon 355-45, a high-power UV laser results in faster UV processing at a significantly lower cost per part. It is ideal for industrial manufacturing of PC boards, electronic components, semiconductors, flat panel displays, lithium-ion batteries, and LEDs for consumer electronics, clean energy, and other demanding applications. Further, the industrial laser systems are being adopted in several end-user industries such as aerospace and defense, automotive, medical, and semiconductor, amongst others. In the automotive sector, laser systems deployed are used mainly for cutting and welding applications. This enables higher productivity and reduction of down-time while substantially reducing the manufacturing costs.

Key Market Trends

Automotive is Expected to Hold Significant Share

– Innovative laser applications have been playing a significant part in the automotive industry for many years. Laser technology has many advantages over traditional material processing methods for welding, cutting parts, and identification processes. Laser systems in the automotive industry have applications that are varied from the welding of spark plugs and batteries to cutting parts or labeling many automotive parts, including back-lit laser marking technology. With a wide range of laser system configurations available, companies offer multiple industrial laser systems specifically to the automotive industry. The laser systems could significantly reduce cycle times, produce precision parts, and increase productivity while lowering the cost per unit.
– Modern automotive manufacturing uses a wide range of materials, including metals, textiles, plastics, glass, and rubber. Luxury and high-end vehicles generally are equipped with carbon fiber combined with traditional materials such as leather and wood. Processing such a broad range of materials requires a versatile tool, and this is where the carbon dioxide (CO2) laser comes in. The CO2 laser is one of the oldest laser technologies, yet it remains a mainstay of modern manufacturing and finds many uses in the automotive industry. CO2 lasers are available with various output powers ranging from a few tens of watts to many kilowatts, making them useful for a variety of different processes. Laser-processed components are used in almost all areas of a typical vehicle, both interior, and exterior.

North America is Expected to Hold Significant Share

– The North America region is expected to dominate the market due to the technological advancements across various industries, such as manufacturing, aerospace and defense, automotive, etc. Similarly, on the vendor front, the region houses critical players such as IPG Photonics and Coherent Inc, to name a few.

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Multiple launches, additionally, are signifying the rising demand for laser systems across end-users in the region. For instance, as of June 2020, Coherent Inc. added EasyMark XL to its Laser Marking Systems Product Line, which caters to applications spanning from marking codes on stainless steel medical devices, to the deep engraving of casting molds.
– Several companies, especially across the small and medium enterprises and the startup format, have been raising a significant amount of funds to develop innovative solutions in Laser technology. For instance, UAVenture Capital Fund, which is based in Tuscan and dedicated to the commercialization of the University of Arizona discoveries, products, techniques, and services, invested in DeUVe Photonics, Inc in October 2019. The funding will help the company to improvise its technology and will enable the company to become a significant player in existing and developing deep UV laser markets.

Competitive Landscape

The Industrial Laser Systems market is highly competitive, owing to the presence of multiple vendors. The market appears to be moderately concentrated. Some of the major companies in the market include Newport Corporation, TRUMPF GmbH + Co KG, JENOPTIK AG, etc. Additionally, many laser manufacturers are making acquisitions to expand their product portfolio. Some of the recent developments in the industry are as follows:

– July 2020 – Newport Corporation announced that it had completed its acquisition of Spectra-Physics from Thermo Electron Corp., for USD 300 million. The Spectra-Physics brand comprises breakthrough laser technologies that are engaged in helping customers utilize these laser technologies to advance leading-edge science and propel industries forward.
– July 2020 – TRUMPF has announced that it will be combining TRUMPF Laser- und Systemtechnik GmbH and SPI Lasers UK Ltd. under the TRUMPF banner. SPI Lasers products will be made available through the TRUMPF sales channels. SPI Lasers, a specialist in fiber laser design and manufacturing, is a wholly-owned subsidiary of the TRUMPF Group.
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness – Porter’s Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Intensity of Competitive Rivalry
4.3.5 Threat of Substitute Products
4.4 Assessment of COVID-19 on the Market

5 MARKET DYNAMICS

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