Laser Processing Market
A recent market study on the global laser processing market has been published by Transparency Market Research (TMR), estimating the market to attain a value of US$17.26 billion by 2020, developing at a healthy CAGR of 10.2% between 2014 and 2020. The publication, titled “Laser Processing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”, reports that the global laser processing market had reached a value of US$8.76 billion in 2013.According to the report, the laser processing market is analyzed on the basis of product type, process, and end-use industry. Based on the types of products, the gas lasers product segment held 60.2% of the overall laser processing market in 2013. The material processing market segment dominated the global laser processing market based on processes, generating the highest revenue in 2013. The automotive and aerospace industries led the global laser processing market based on end use owing to the rapid increase in demand from original equipment manufacturers (OEMs) for laser technology in material processing, states the research study.
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