LAMEA Laser Processing Market Size, Share & Industry Trends Analysis Report By Process (Material Processing, Marking & Engraving, Micro-Processing), By Application, By Product, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Latin America, Middle East and Africa Laser Processing Market would witness market growth of 12.5% CAGR during the forecast period (2022-2028).
Laser processing is non-contact, the tool would not produce additional resistance by grinding with the workpiece's surface. As a result, laser processing at high speeds would be influenced by a reduced range of heating when processing items, and does not produce noise. Laser processing can be applied to various levels and ranges since the laser beam's energy and speed of travel can be changed.
A laser beam is simple to manage, and it's simple to combine with accuracy equipment, precision measuring instruments, and an electronic computer to achieve high processing automation and accuracy. The robot can be utilized for laser processing in hostile locations or places where human contact is problematic.
Laser processing of various types of ceramics, such as alumina, silicon carbide, zirconia, and others, is crucial for several tribological, structural, optical, and electronics applications. Since these materials absorb infrared light readily, CO2 and Nd: YAG lasers have largely been utilized in their drilling applications.
Iran is the Middle East's second-largest country in terms of population. It boasts the largest automobile industry in the world, with 70 million possible customers. Second, only to the oil and gas industry, the automotive industry contributes 10% of Iran's GDP and 4% of its workforce. In Iran, there are roughly 13 public and private automakers, with IKCO and SAIPA accounting for roughly 94% of local manufacturing.
South Africa is ranked 22nd in the automobile manufacture, with a 0.58 percent market share. On the back of rising foreign direct investment and trade, the South African automotive industry's growth strategies have been centered on becoming deeply connected to the major car environment. The goal of the South African Automotive Masterplan (SAAM) 2021-2035 is for South Africa to generate 1% of vehicle production, or 1,4 million automobiles per year, by 2035, significantly improving the country's standing and vehicle production ranking.
As a result, the automotive industry is playing an extremely crucial strategic and catalytic role in the overall South African economy, influencing many important economic policy goals directly, including GDP contribution, work opportunities, skills enhancement, economic relations, technology, and innovation. The growing opportunities and growing oil industries accelerate the growth of laser processing this region.
The Brazil market dominated the LAMEA Laser Processing Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $605.9 million by 2028. The Argentina market is anticipated to grow at a CAGR of 13.2% during (2022 - 2028). Additionally, The UAE market would showcase a CAGR of 12.2% during (2022 - 2028).
Based on Process, the market is segmented into Material Processing, Marking & Engraving, Micro-Processing. Based on Application, the market is segmented into Machine Tools, Electronics and Microelectronics, Automotive, Medical, Packaging, Aerospace, and Others. Based on Product, the market is segmented into Gas Lasers, Solid-state Lasers, Fiber Lasers, 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 Laser Processing Market is Predict to reach $31.4 Billion by 2028, at a CAGR of 6.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Coherent, Inc., IPG Photonics Corporation, Lumentum Holdings, Inc., Jenoptik AG, TRUMPF GmbH + Co. KG, Han’s Laser Technology Industry Group Co., Ltd., Epilog Laser, LUMIBIRD, LaserStar Technologies Corporation, and Gravotech Marking.
Scope of the Study
Market Segments Covered in the Report:
- Material Processing
- Marking & Engraving
- Machine Tools
- Electronics and Microelectronics
- Gas Lasers
- Solid-state Lasers
- Fiber Lasers
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Coherent, Inc.
- IPG Photonics Corporation
- Lumentum Holdings, Inc.
- Jenoptik AG
- TRUMPF GmbH + Co. KG
- Han’s Laser Technology Industry Group Co., Ltd.
- Epilog Laser
- LaserStar Technologies Corporation
- Gravotech Marking
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