The Europe Industrial Lasers Systems Market would witness market growth of 7.0% CAGR during the forecast period (2022-2028).
In terms of power levels, brightness, and mode of operation, industrial laser systems are still evolving. While continuous wave (cw) laser systems are advancing in terms of efficiency, compactness, and robustness, ultra-short pulse (USP) solid-state lasers (SSL), are gaining traction in the industry because of their high average power levels, increasing pulse energies, and more flexible repetition rates, allowing for increased productivity and novel materials processing applications. For example, TRUPMF's laser systems portfolio, reflects this general trend and is thus a fascinating subject for tracing the evolution of industrial laser systems from early CO2 lasers to the latest generation of diode-pumped nanosecond-pulsed thin-disk lasers with up to 400W of average output power at 343nm. Novel applications such as EUV light production, laser lift-off, and surface annealing are now possible due to the sophisticated laser family.
In the automotive sector, industrial lasers are used to cut metals and create the vehicle's body. The automotive industry is critical to Europe's economic development. The automobile industry employs 13.8 million Europeans directly and indirectly, accounting for 6.1 percent of overall employment in the EU. Direct production of automobiles employs 2.6 million people, accounting for 8.5 percent of all manufacturing jobs in the EU. The EU is one of the world's leading makers of automobiles, and the automotive industry is the greatest private investor in R&D. (R&D). The European Commission encourages worldwide technology harmonization and provides money for R&D to boost the competitiveness of the EU automobile industry and maintain its technological leadership.
The Germany market dominated the Europe Industrial Lasers Systems Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2025.8 Million by 2028. The UK market is exhibiting a CAGR of 6.1% during (2022 - 2028). Additionally, The France market is would grow at a CAGR of 7.8% during (2022 - 2028).
Based on Type, the market is segmented into Macro processing and Micro processing. Based on Power, the market is segmented into More than 1.1 kW and Less than 1 kW. Based on Application, the market is segmented into Cutting, Welding, Non-metal processing, Additive manufacturing, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Industrial Lasers Systems Market will Hit $29.4 Billion by 2028, at a CAGR of 7.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Coherent, Inc., NKT Photonics A/S (NKT A/S), IPG Photonics Corporation, Jenoptik AG, TRUMPF GmbH + Co. KG, LUMIBIRD, Amonics Ltd., Apollo Instruments Inc., CY Laser SRL, and TOPTICA Photonics AG.
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