According to Stratistics MRC, the Global Laser Processing market is estimated at $6.85 billion in 2016.

GAITHERSBURG, MARYLAND, US, May 3, 2017 /EINPresswire.com/ -- According to Stratistics MRC, the Global Laser Processing market is estimated at $6.85 billion in 2016 and is expected to reach $10.25 billion by 2022 growing at a CAGR of 6.9% from 2016 to 2022. Factors such as growing demand for high quality & genuine end-products, technological advancements in the medical sector, rising use of ultra short lasers for manufacturing processes are fostering the market growth. In addition, stringent government directions for the usage of laser technology in marking & engraving coupled with the rising acceptance of lasers in medical devices and surgeries are expected to fuel the market growth in the near future. However, high initial costs and technical complexities in high-power lasers are restricting the market growth.

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Based on Product, solid lasers commanded the largest market share in the global market owing to rising acceptance of fiber, Yttrium Aluminium Garnet and semiconductor lasers. Asia Pacific is anticipated to hold the largest market share during the forecast period owing to the rising number of OEMs in this region. Moreover, China is expected to rise as the key consumer of industrial lasers & systems for materials processing and micro-processing.

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Some of the key players in the market include Rofin-Sinar Technologies Inc., Jenoptik AG, Eurolaser GmbH, Trumpf Group, IPG Photonics Corporation, Epilog Laser, Newport Corporation, Alltec GmbH, Lumentum Holdings Inc., LaserStar Technologies Corporation, Han’s Laser Technology Co. Ltd., Bystronic Laser AG, Prima Industrie S.p.A, Universal Laser Systems, Amada Co., Ltd. and Coherent Inc.

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