According to Future Market Insights, the market for LASER light cables is projected to reach a value pool of US$ 700 million by 2023’s end. At a CAGR of 19%, the market for LASER light cables is anticipated to increase globally to US$ 4 billion in 2033.
Increasing electrification in transportation is understood to drive the demand for LASER processing and in turn the demand for these cables
What is Driving the Demand for LASER Light Cables
The usage of LASERs in broad field of applications like engraving, metal cutting, texturing, engraving, drilling, welding, etc. in metalworking process which in turn caters to plethora of industries such as automotive, heavy engineering, general manufacturing.
Also wiring requirements in electronics telecommunications and medical equipment has necessitated the use of Laser light cables. As per opinions by LASER light cable manufacturers, the Electric vehicle sales rose record high to 3 million in 2020, which was responsible for highest sales for these cables in year 2020.
When compared to larger standard wiring, the cable can save space. This property has made it popular for a variety of vehicle safety and lighting features.
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Another factor which is driving the sales of these cables is that Fiber LASERs provide precise, fine welding and fast cutting, but disk LASERs with their ease of power scalability can offer manufacturers flexibility.
The flexibility of with which LASER can now be integrated into the system with the help of connectors while complying with LASER safety regulations draws the demand from the end users. Moreover, for industrial LASER applications such as vehicle manufacturing, 24/7 uptime is even more critical.
Automation to Boost LASER Light Cables Sales
With the advent of automation in accordance with Industry 4.0 norms, the sales for these cables rose in the historical period 2016–2020
A technique wherein, operation time on any numerous job is maximized. Operators also increase capacity while reducing the hourly cost of LASER processing
When the fixed costs (such as the machine investment, reflected in depreciation) can be distributed across a larger number of hours or parts, manufacturers gain the freedom to be more competitive in pricing or to increase their margin.
During the Covid-19 pandemic the demand saw an obvious drop due to the stoppage of manufacturing industry. The ongoing crisis caused by the COVID — 19 pandemic, brought the global automotive industry to an abrupt halt, with sales plummeting in most markets. The pandemic, although gave automobile industry players an opportunity to relocate themselves by focusing on connectivity and electrification.
With stringent carbon dioxide emissions goals in play by various countries, the electric vehicle market is expected to tremendously grow.
China LASER Light Cables Market Overview
According to the United Nations Statistics Division, China makes and sells more manufacturing goods than any other country on the planet and accounted for 28.7% of global manufacturing in 2019
Due to advanced infrastructure, abundance of resources and readily available labor makes China earn this title.
The iron and steel production dominating, in turn the vehicle production, the LASER light cable market value in China, is amongst the highest in the global market.
Germany Demand Outlook for LASER light cables
Germany, the manufacturing capital of Europe, and specializes in medium-range technology products, demonstrating that quality is the primary driver of German international success, that price and cost advantage determine competitiveness in some product groups, and that R&D efforts have contributed to the development and maintenance of German manufacturing competitiveness, leading to the highest consumer of industrial automation tools, signifying the largest demand creator of LASER light cables in Europe.
The electric vehicle sales in Germany was highest amongst Europe Union in 2020, accounting for such huge sales from the country.
The electrification of the entire transportation sector wherein, light cables are used for laser processing of copper, a metal of choice in electric vehicles due to its high conductivity, is driving the demand in Germany.
Who are the Key Manufacturers and Suppliers of LASER light cables
Some of the leading manufacturers and suppliers of LASER light cables include
- Photonic Tools
- LASER COMPONENTS
- LEONI Group
- II-VI Incorporated
- Optoskand
- Trumpf
- Vitex, LLC.
- RF Industries, Inc.
- Fujikura Ltd.
- Koenig Machinery, etc.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
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Laser Light Cables Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE — All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
Key Segments
By Power Rating:
- Up to 1 Kw
- 1–10 KW
- 10.1–20 Kw
By Availability of Coating:
- With Anti-Reflection Coated Endcaps
- Without Anti-Reflection Coated Endcaps
By Laser Source:
- Fiber Laser
- Disc Laser
- Diode Laser
By Application:
- Material Processing
- Cutting
- Welding
- Drilling
- Other
- Marking
- Engraving
- Texturing
- Medical
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- Italy
- France
- U.K.
- Spain
- BENELUX
- Russia
- Nordics
- East Asia
- China
- Japan
- South Korea
- South Asia and Pacific
- India
- ASEAN Countries
- Oceania
- Latin America
- Brazil
- Mexico
- Middle East and Africa
- GCC Countries
- Turkey
- Northern Africa
- South Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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