The Laser Technology Market is expected to reach a value of $30.3 billion by 2028, at a CAGR of 11.4% during the forecast period 2021–2028. The laser technology market is driven by factors such as the rise in adoption of laser technology in the electronics sector and medical applications, shift towards micro and nanodevices, and most importantly, increase in demand for laser-based material processing over traditional processing. Laser processing offers high-quality products, high efficiency, high flexibility, high speed, low cost, and many advantages, which increase the adoption of laser technology by the industries. There has been a high demand for lasers from industries such as electronics, healthcare, manufacturing, automotive, among others. Also, increasing government initiatives is contributing to the growth of the laser technology market. The growing adoption of different laser technologies in optical communication and robotics is offering significant growth opportunities for various companies operating in this market. However, the high initial cost of laser processing is hampering the growth of this market.
Here are the top 10 companies operating in the Laser Technology Market
Founded in 1966 and headquartered in California, U.S., Coherent, Inc. provides laser solutions and optics for microelectronics, life sciences, industrial manufacturing, and scientific markets. The company has two reportable segments: OEM laser sources (OLS) and industrial lasers & systems (ILS). The OLS business segment aims at high performance laser sources and complex optical sub-systems, which are used in microelectronics manufacturing, therapeutic applications, medical applications, and research. The ILS business segment focuses on high performance laser sources, sub-systems, and tools which are used in industrial laser materials processing in industries such as automotive, machine tools, consumer goods, and medical device manufacturing.
The company has its geographical presence in the U.S., South Korea, China, Japan, Asia-Pacific, Germany, and Europe. The company has several subsidiaries such as Nufern (U.S.), Coherent Italia (Italy), Ondax, Inc. (U.S.), Coherent DEOS, LLC (U.S.), O.R. Lasertechnologie GmbH (Germany), among others.
TRUMPF GmbH + Co. KG
Founded in 1923 and headquartered in Ditzingen, Germany, TRUMPF GmbH + Co. KG provides manufacturing solutions for machine tools, laser technology, and electronics. The company offers sensor solutions, sensor ICs, interfaces, and related software for mobile, consumer, communications, industrial, medical, and automotive markets. The company has production facilities in Europe (Austria, the Czech Republic, France, Germany, Italy, Poland, Switzerland, and the U.K.), the Americas (Mexico and the U.S.), and Asia-Pacific (China).
The company operates through two business segments: Machine Tools and Laser Technology. The company has 76 subsidiaries that operate in Europe, the Americas, and Asia-Pacific. Some of its subsidiaries are SPI Lasers Ltd (U.K.), XETICS GmbH (Germany), AMPHOS GmbH (Germany), and EHT Werkzeugmaschinen GmbH (Germany).
IPG Photonics Corporation
Founded in 1990 and headquartered in Massachusetts, U.S., IPG Photonics Corporation is a developer and manufacturer of high-performance fiber lasers and amplifiers for various applications. Products of this company are used in materials processing, communications, entertainment, medical and biotechnology, scientific and advanced applications. The company operates in one business segment, which includes design, development, production, and distribution of fiber lasers, laser and non-laser systems, fiber amplifiers, and related optical components
The company has its geographical presence in North America, Europe, Asia, and Australia. The company has several subsidiaries such as IPG Laser GmbH (Germany), NTO IRE-Polus (Russia), IPG (Beijing) Fiber Laser Technology Co., Ltd. (China), IPG Photonics Ltd. (U.K.), IPG Photonics (Korea) Ltd. (South Korea), among others.
Han’s Laser Technology Industry Group Co., Ltd.
Founded in 1996 and headquartered in Shenzhen, China. Han’s Laser Technology Industry Group Co., Ltd. is a leading laser equipment manufacturer. The company has more than 200 machine models such as Laser Marking Series, Laser Welding Series, Laser Cutting Series, Sub-Surface Engraving Series, Laser Display Series, among others. Also, the company’s R&D team has more than 300 patents and several software copyrights. The company’s products are used in several industries such as electronics and semiconductors, mechanical hardware, new energy, packaging industry, brittle material industry, auto industry, sheet metal, among others.
Lumentum Holdings Inc.
Founded in 2015 and headquartered in California, U.S., Lumentum Holdings Inc. is a manufacturer of innovative optical and photonic products for optical networking and commercial laser clients globally. The company operates through two reportable business segments, OpComms, and Lasers. The OpComms business segment caters to the telecom, datacom, consumer, and industrial markets. The company’s customers include Alphabet, Apple, Ciena, Cisco Systems, Huawei Technologies, Infinera, Innolight, Nokia Networks, O-Net, and ZTE. The Lasers segment offers products for sheet metal processing, general manufacturing, biotechnology, graphics and imaging, remote sensing, and precision machining applications such as drilling in printed circuit boards, wafer singulation, glass cutting, and solar cell scribing. Lasers segment’s customers include Amada, ASML Holding, Beckman Coulter, DISCO, Electro Scientific Industries, Han’s Laser Technology, KLA-Tencor, Lasertec, Life Technologies, and NR Electric.
The company has a geographical presence in the Americas, Asia-Pacific, and EMEA. The subsidiaries of the company include Oclaro Inc. (U.S.), Lumentum K.K (Japan), and Lumentum Netherlands B.V. (Netherlands). As of June 2020, Lumentum Holdings Inc. had approximately 5,473 full-time employees globally. The company has 966 U.S. patents and 807 foreign patents with expiration dates ranging from July 2020 to June 2039.
Meticulous Research in its latest publication on Laser Technology Market has predicted the growth of 11.4% during the forecast year 2021–2028.
Founded in 1991 and headquartered in Jena, Germany. Jenoptik AG is Germany based, and it has three photonics-based divisions. The company operates in four business segments: Light & Optics, Light & Production, Light & Safety, and VINCORION. The Light & Optics segment provides OEM suppliers for solutions and photonic technologies products. The Light & Production segment provides optimization of manufacturing processes. The Light & Safety segment offers innovative solutions for road safety and public security. The company provides top-level functions for IT, human resources, purchasing, security, work, and health protection, environmental protection, and real estate management.
The company has a geographical presence in Germany, Europe, the Americas, Asia-Pacific, and the Middle East/Africa. Some of its subsidiaries are TRIOPTICS GmbH (Germany), VINCORION (Germany), Prodomax Automation Ltd. (U.S.), and JENOPTIK Optical Systems, LLC (U.S.).
Founded in 1968 and headquartered in Massachusetts, U.S., Novanta Inc. provides core components and subsystems to medical and advanced industrial OEMs with expertise in photonics, vision, and precision motion technologies. The company has three reportable business segments: Photonics, Vision, and Precision Motion. Novanta Inc. has several business companies, and laser products fall under Laser Quantum Company, which is a laser manufacturer that provides solid state continuous wave lasers, ultrafast lasers, and optical light engines.
The company has a geographical presence in the United States, Germany, Rest of Europe, China, and Rest of Asia-Pacific. Some of its subsidiaries are Novanta Corporation (U.S.), Celera Motion (U.S.), ARGES (U.S.), Novanta Europe GmbH (Europe), Jadak (U.S.).
Founded in 1970 and headquartered in Lannion, France. LUMIBIRD Group manufactures high performance lasers for laboratories and universities; manufacturing, defense, LiDAR sensors industries; and ophthalmology. This company is specialized in solid-state lasers, laser diodes, and fiber lasers. The company has two different divisions: Photonics Division and Medical Division. Photonics Division includes Quantel, Keopsys, SensUp, and Halo Photonics. Medical Division includes Lumibird Medical. The company’s application areas are industrial & scientific, defense & space, and LiDAR sensors.
Founded in 1851 and headquartered in Massachusetts, U.S., Corning Incorporated is specialized in glass science, ceramics science, and optical physics; it also manufactures and develops innovative products. The company operates in five business segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences. The company provides products for several markets such as optical communications, mobile consumer electronics, display, automotive, life sciences, and other markets.
The company has a geographical presence in North America, Asia-Pacific, and Europe. Some of its subsidiaries are Axygen, Inc. (U.S.), Mediatech, Inc. (U.S.), Corning Gilbert Inc. (U.S.), SpiderCloud Wireless (U.S.), Corning HTL S.A. (Europe), Alliance Fiber Optic Products, Inc. (U.S.).
MKS Instruments, Inc.
Founded in 1961 and headquartered in Massachusetts, U.S., MKS Instruments, Inc. develops solutions for technological innovations, innovations for industries such as semiconductor, industrial, life and health sciences, research, and defense. The company operates in three reportable segments: Vacuum & Analysis, Light & Motion, and Equipment & Solutions. Laser comes under the Light & Motion and Equipment & Solutions segments of the company. There are several leading brands of the company, and laser products are provided by the Spectra-Physics brand of the company.
The company has a geographical presence in U.S., South Korea, China, Other Asia, and Europe. Some of its subsidiaries are Newport Corporation. (U.S.), MKS Instruments UK Ltd. (U.K.), Electro Scientific Industries (U.S.), Ophir Optronics Solutions LTD. (Israel), MKS Korea Co., Ltd. (South Korea).
Popular Mentions: LaserStar Technologies Corporation, Epilog Laser, Gravotech Marking, Eurolaser GmbH, and Bystronic Laser AG
Authoritative Research on the Laser Technology Market – Global Opportunity Analysis and Industry Forecast (2021-2028)
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