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Market Leadership - Laser Technology Market
The Laser technology market size is expected to grow from USD 11.7 billion in 2020 to USD 17.6 billion by 2025, at a CAGR of 8.6%. Increasing demand from healthcare vertical and Better performance of lasers over traditional material processing techniques are the key factors driving the growth of the Laser technology market.
The Laser technology market is highly competitive owing to the presence of a large number of regional and global players.
The key players are focusing on enhancing their product portfolios and increasing market share through strategies, such as product launches, collaborations, acquisitions, and divestments. Many market players adopted product launches as their key business strategy.
Coherent (US): Coherent is an industrial and fiber laser solutions provider and deals in technologies such as diode-pumped solid-state laser, fiber laser, gas laser (CO, CO2, excimer, and Ion), optically pumped semiconductor laser (OPSL), semiconductor laser, and ultrafast laser. These laser technologies have applications in several verticals, including healthcare, scientific research, electronics, military & defense, and manufacturing. Coherent has also been investing in R&D to develop and acquire new technologies and additional market share by streamlining its manufacturing structure and improving the cost structure. The company is focused on developing innovative and proprietary laser and optical products and solutions. The company is strengthening its laser portfolio, such as solid-state, CO, pulsed-fiber, direct diode, and excimer laser, with an aim to improve performance and reduce process cost to expand its customer base.
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Trumpf (Germany): Trumpf manufactures machine tools, including machines & systems, lasers, power electronics products, power tools, and smart factory solutions, and offers software and services for automotive, manufacturing, construction, electronics, power & energy, aerospace & defense, engineering, and medical & healthcare verticals. Trumpf is a publicly listed company. The company operates through 2 business segments—Machine Tools and Laser Technology. The Machine Tools segment deals with systems for laser processing, bending, punching, combined punch, laser cutting, and welding applications. The Laser Technology segment deals with lasers for marking, cutting, welding, and surface treatment applications. The company is in the process of expanding its already broad laser processing solutions portfolio. Additionally, the company focuses on increasing its footprint across the globe. For instance, in May 2018, it invested ~USD 27 million in its Chinese subsidiary, JFY, and its Chinese division, TRUMPF China, to expand its production capacity.
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Mr. Aashish Mehra
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