The Latin America, Middle East and Africa Industrial Lasers Systems Market would witness market growth of 10.1% CAGR during the forecast period (2022-2028).
Unique identity (UID) numbers are frequently imprinted on parts and products using lasers, allowing it to be easily identified in the case of a recall. Laser marks are extremely durable and, in the case of medical devices, can resist multiple sterilization cycles. On goods with flat or curved part geometries, both human-readable and bar codes information, such as lot and batch codes and sometimes even design histories, could be laser-marked.
On the faces of components or goods, lasers can create textures or patterned micro structures that increase physical performance, such like wear rates, optical characteristics, grip, and load capacity. On medical implants, laser micro texturing can produce roughness that helps new tissue or bone gain traction and develop into the implant. With a very great depth resolution, layouts with features as small as 10m can be created.
In 2020, Saudi Arabia accounted for over 52% of vehicle sales in the Gulf Cooperation Council (GCC) and 35% in the Middle East and North Africa (MENA). In 2019 and 2020, Saudi Arabia sold 556,000 and 436,000 vehicles, respectively. By 2025, sales are expected to reach 543,000 units, with just 32,000 of those being electric cars (EVs). The automotive industry in Middle East region is strengthening due to the increasing government efforts and entrance of various companies in the region.
Toyota has a 30% market share in Saudi Arabia, followed by Hyundai and KIA with 26% and Renault-Nissan-Mitsubishi with 9%. The remaining companies are General Motors, Ford, and Fiat Chrysler Automobiles. By 2025, the GCC region is expected to sell 62,000 electric vehicles. Despite this, there are just four commercial vehicle assembly plants, all of which produce minimal volumes. The manufacturing plants of various automotive items are increasingly employing latest systems and machinery, which is contributing to the growth of the regional industrial laser systems market.
The Brazil market dominated the LAMEA Industrial Lasers Systems Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $620.3 Million by 2028. The Argentina market is anticipated to grow at a CAGR of 10.7% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 9.9% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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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