The global CO2 laser market was expected to be worth US$2 billion by the end of 2022. The CO2 Laser market will be worth US$ 2.75 billion by 2023, according to Future Market Insights. World CO2 laser demand is predicted to grow at a 5% CAGR to US$ 4.5 billion in 2033.
According to a recent survey published by FMI, the global CO2 Laser market is expected to grow at a healthy CAGR during the forecast period between 2023 and 2033. The objective of the report is to uncover micro and macro-economic factors accelerating the sales of CO2 Laser over the coming decade.
The Invention of Industry 4.0 Technology Will Open Up New Growth Opportunities for the CO2 Laser Market
The industrial sector is witnessing a change as companies throughout the world prioritise implementing contemporary technology.
With the growth of Industry 4.0, manufacturing facilities are prioritising the use of novel technologies such as artificial intelligence, smart manufacturing, the internet of things (IoT), and machine learning. This is expected to drive significant growth in the CO2 Laser market.
Furthermore, rising government emphasis on improving the manufacturing sector and integrating augmented and virtual reality using smart equipment to boost output is expected to drive market demand in the coming years.
Key CO2 Laser Market Takeaways and Projections
· The U.S. is estimated dominate the CO2 Laser market in North America, accounting for the largest share in the region through 2022.
· Germany is projected to account for a significant share in the Europe market over the assessment period.
· China is forecast to hold the lion’s share the East Asia market, projecting the fastest growth in the region between 2023 and 2033
· India is anticipated to emerge as a highly remunerative market in South Asia, accounting for the largest sales during the forecast period.
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Report Benefits & Key Questions Answered
· CO2 Laser Historical Market Outlook: Future Market Insight’s analysis examines vital dynamics, such as drivers, opportunities and challenges. It studies their impact on the market over the previous assessment period 2016-2020. The report provides crucial insights to market players to capitalize on opportunities and counter challenges.
· CO2 Laser Demand-Supply Assessment: A latest study published by FMI offers in-depth insights into governing factors facilitating the demand outlook of the CO2 Laser market. As per the survey, CO2 Laser sales will project steady growth over the forecast period.
· CO2 Laser Consumption by Demographics: The report published by FMI provides consumption by demographics analysis to assist the market players in formulating their marketing strategies on the basis of purchasing power of the customers. It examines changes in consumer behavior and also studies its effect on the demand for CO2 Laser.
· CO2 Laser Market Trend Analysis: FMI’s market trend analysis provide detailed insights into current and upcoming trends in the industrial automation industries. It also assist the industry players to identify potentials trends to capitalize on them.
CO2 Laser Market: Market Participants
Some of the key market participants identified in the CO2 Laser market across the globe are:
- TRUMPF
- Coherent, Inc.
- FANUC CORPORATION
- Han’s Laser Technology Industry Group Co., Ltd
- El.En. S.p.A.
- LIGHTMACHINERY, INC
- AMTEC
- Epilog Laser
- Control Laser Corporation USA
- Kern Electronics & Lasers, Inc.
- PRC Laser Corporation
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CO2 Laser: Market Segmentation
The overall CO2 Laser market can been segmented on the basis of application as:
- Therapeutic & Diagnostics
- LIDAR Imaging
- Cutting & Perforations
- Welding
- Drilling
The overall CO2 Laser market can been segmented on the basis of output power as:
- Up to 50 W
- 50 W to 500 W
- 500 W to 1000 W
- Above 1000 W
The overall CO2 Laser market can been segmented on the basis of end use sector as:
- Military & Defence
- Aerospace
- Metal Processing
- Healthcare
- Manufacturing
- Automotive
- Telecommunication
Regional analysis includes
- North America (USA, Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (Germany, Italy, France, United Kingdom, Spain, BENELUX, Nordics)
- South Asia (India, ASEAN, Others)
- East Asia (China, Japan, South Korea)
- Oceania (Australia, New Zealand)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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