Laser automation has revolutionized precision manufacturing by allowing for better control, accuracy, consistency and miniaturization compared to traditional methods. Laser systems offer contactless and precise cutting, welding, marking and surface treatment of a wide range of materials across diverse industries such as automotive, electronics, aerospace and more. The use of lasers enables intricate manufacturing of small components with tight tolerances for medical devices, consumer electronics and other applications. The global Laser Automation Market is estimated to be valued at US$ 6.48 Bn in 2023 and is expected to exhibit a CAGR of 7.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand for precision and miniaturization from manufacturing industries has been a major driver for the adoption of laser automation. Laser processing allows for micron level precision and control during cutting, welding, marking and other applications. This capability enables the manufacturing of extremely small and intricate components. For example, in the electronics and medical devices industries laser assisted manufacturing has become indispensable for making components with tight tolerances and specifications. The high precision of lasers is expected to further laser automation growth over the coming years as more industries embrace miniaturization and require micro level manufacturing capabilities.
SWOT Analysis
Strength: Laser automation allows mass production of parts with high precision and accuracy. It increases manufacturing productivity while reducing costs.
Weakness: High initial investment costs for laser automation equipment. Proper training of workforce is required to operate advanced laser systems.
Opportunity: Growing demand for miniature electronic products boosts the adoption of laser micromachining systems. The automotive industry is increasingly using laser automation for welding and marking applications.
Threats: Threat from low-cost regional players. Economic slowdowns can impact manufacturing activities and reduce demand for laser automation systems.
Key Takeaways
The global Laser Automation Market is expected to witness high growth. The market size is forecast to reach US$ 6.48 Bn by 2024, growing at a CAGR of 7.0% during the forecast period.
Regional analysis: North America dominates the global market currently due to extensive use of laser processing in industries such as automotive, electronics and healthcare. The Asia Pacific region is expected to witness the fastest growth owing to expanding manufacturing sector and low-cost manufacturing destinations in China and India.
Key players operating in the Laser Automation Market are Trumpf GmbH + Co. KG, Coherent, Inc., IPG Photonics Corporation, Han’s Laser Technology Industry Group Co., Ltd., Rofin-Sinar Technologies Inc., Jenoptik AG, Amada Miyachi America, Inc., Newport Corporation, Prima Power, Fanuc Corporation. These leading players are focusing on geographical expansion and new product launches to strengthen their market presence. For instance, in 2023, Trumpf introduced new generation of fiber and disk lasers to improve laser cutting and welding applications.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
