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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