CO2 Laser Market by Application and Geography - Forecast and Analysis 2021-2025

“The CO2 Laser Market study is a comprehensive report with in-depth qualitative and quantitative research evaluating the current scenario and analyzing the growth of USD 511.93 million and CAGR of 3.59% by segment Application and Geography during the forecast period 2020 to 2025” 

Furthermore, this report extensively covers the smart home appliances market segmentation by application (industrial, communication, medical, and others) and geography (APAC, Europe, North America, MEA, and South America). The market report also offers information on several market vendors, including AMTEC Inc., Coherent Inc., Control Laser Corp., El.En. Spa, Epilog Corp., FANUC Corp., Hans Laser Technology Industry Group Co. Ltd., Kern Laser Systems, LightMachinery Inc., and TRUMPF GmbH + Co. KG.

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Parent Market Analysis

Technavio categorizes the CO2 Laser Market as a part of the Information Technology industry within the Electronic Equipment, Instruments and Components industry. Our Technavio research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the forecast year.

CO2 Laser Market: Key Drivers, Trends, and Challenges

Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the CO2 laser industry. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge. 

Key CO2 Laser Market Driver

One of the key factors driving growth in the market is the rapid growth of high-precision machining. The reduced sizes of instruments and devices are increasing their overall complexity, making precision and laser machining essential to design such devices. As a result, device manufacturers (such as medical devices and industrial equipment manufacturers) focus on maintaining the quality of the final product. Device manufacturers are focusing on different parameters such as precise dimensions, surface finishes, tight tolerances, and validated performance. While constructing orthopaedic braces, factors such as dimensions, fittings, interfaces, structures, and surface finishes need to be precise in the moulds to make quality parts that meet the required tolerances. CNC, electrical discharge machining (EDM), wire cutting, and laser etching are high-precision machining. Medical device manufacturers (MDMs) require high-precision machining. CO2 lasers are often used for laser welding in a variety of dissimilar materials, including exotic-grade metals. These metals are otherwise difficult to weld together (due to material dissimilarities). Such laser welding properties find high use in manufacturing thin-walled and tubular medical components. Therefore, the transition toward high-precision machining will create a demand for highly efficient CO2 lasers during the forecast. 

Key CO2 Laser Market Challenge

The limited number of suppliers will be a major challenge for the market during the forecast period. CO2 laser manufacturers rely on third-party vendors for the supply of components integrated into the laser systems. A few of the hardware components include mirrors, lenses, and tubes. Dependence on a few suppliers is a major challenge for firms due to the following reasons: Increase in the price of raw materials can augment the overall cost. If the component supplier does not meet the specifications of the manufacturer in terms of performance and quality or if there are delays in the delivery of components to the buyers, then manufacturers' sales, production, delivery, acceptance, and revenue are affected greatly. If the supplier decides to alter its technology roadmap, suffers damage to its production units, raises prices, or discontinues the product line, it interrupts the supply of components to the CO2 laser systems manufacturer. The manufacturer now needs considerable time to identify alternative suppliers. If the hardware or software provided by suppliers contains bugs or other errors, then it affects the development projects and production systems of manufacturers through reduced performance or capabilities. This also creates the burden of additional design testing and verification efforts on manufacturers.

CO2 Laser Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the CO2 laser market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Who are the Major CO2 Laser Market Vendors?

AMTEC Inc. - The company offers CO2 lasers which are widely used in deep penetration welding, marking, engraving and drilling materials, die boards, and many more.

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

• AMTEC Inc.
• Coherent Inc.
• Control Laser Corp.
• El.En. Spa
• Epilog Corp.
• FANUC Corp.
• Hans Laser Technology Industry Group Co. Ltd.
• Kern Laser Systems
• LightMachinery Inc.
• TRUMPF GmbH + Co. KG

This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Which are the Key Regions for the CO2 Laser Market?

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47% of the market’s growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for CO2 lasers in APAC. Market growth in this region will be faster than the growth of the market in the European regions.

The primary reason for the growth of the market in APAC is the presence of many industrial manufacturing plants in the region. The manufacturing plants belong to aerospace and defence, automobile, consumer electronics, medical devices, and other companies. Consumer electronics manufacturers include LG Electronics, Lenovo, SAMSUNG, Sony, Toshiba, Xiaomi, BYD Electronic, and Gionee Communication Equipment. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

Several countries, such as China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines, were under partial or full lockdowns owing to the outbreak of COVID-19. Lockdowns and stringent rules on social distancing and isolation affected manufacturing industries in APAC. Production units were either closed or temporarily halted, which negatively impacted the growth of the market in the region in 2020. However, various industries resumed their operations in late 2020. The growth of the regional market is anticipated to stabilize during the latter half of the forecast period, with the ongoing vaccination drives expected to lead to the containment of the COVID-19 pandemic.

What are the Revenue-generating Application Segments in the CO2 Laser Market?

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The market share growth by the industrial segment will be significant during the forecast period. The industrial segment is the largest application segment in the global market. This is because CO2 lasers are used to cut, weld, drill, heat treat, and kiss-cut a wide range of materials. For industrial purposes, these lasers are manufactured with different designs and output voltage levels. Low-power CO2 lasers (1kW) initiate a simple melt-mode fusion process. High-powered lasers are used to initiate a high-speed keyhole weld. CO2 lasers are used to weld metals, plastics, and ceramics. Although CO2 lasers are primarily used for cutting, we expect welding applications to hold the greatest potential for the growth of the market segment. The increasing need for CO2 lasers for welding applications has been a significant growth driver for the global market. Cost-efficient, high-power beam sources have been engineered into the CO2 lasers.

This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.

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What are the Key Data Covered in this CO2 Laser Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive market growth during the next five years
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behaviour
• The growth of the CO2 laser industry across APAC, Europe, North America, MEA, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of market vendors

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