The North America Industrial Lasers Systems Market would witness market growth of 7.2% CAGR during the forecast period (2022-2028).
Various technological developments in the industrial environment, such as industrial robots, industrial automation, and 3D printing, are expected to increase the use of laser systems in industries as a result of the rise of Industry 4.0 and Industrial IoT. Companies are merging current production processes with many technological breakthroughs in lasers and laser systems to boost efficiency and stay ahead of the competition. TRUMPF Group, for example, purchased GLOphotonics, a French laser technology business that specializes in hollow-core fibers, in January 2020. Without sacrificing power, the fiber provides for more direct and faster transport of laser light from the origin to the targeted destination.
There is a rapid pace of technical improvements in numerous industries such as manufacturing, aerospace, and automotive across this region. In addition, the region is home to a number of significant vendors, including IPG Photonics among others
Several companies have risen significant financing to develop breakthrough laser technology solutions, particularly among small and medium enterprises (SMEs) and startups. For example, UAVenture Capital Fund, based in Tuscan and dedicated to commercializing University of Arizona discoveries, products, technologies, and services, invested in DeUVe Photonics Inc. to improve its technology, allowing the company to become a major player in existing and developing deep UV laser markets.
The US market dominated the North America Industrial Lasers Systems Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5,997.5 Million by 2028. The Canada market is poised to grow at a CAGR of 9.6% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 8.7% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Industrial Lasers Systems Market is Estimated to reach $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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