Laser Processing Market Size, Growth Drivers & Global Opportunities, 2030
The global laser processing market was valued at USD 17.48 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 9.1% from 2022 to 2030. This anticipated growth is primarily due to the increasing use of lasers in medical devices, particularly in surgical applications, where lasers provide precise, minimally invasive solutions. Additionally, the rapid advancement of nano-fabrication technology is expected to drive demand for laser processing, given its applications in high-precision fields such as microelectronics and medical devices. Furthermore, the manufacturing sector has increasingly adopted laser processing due to its advantages over traditional methods for material processing, contributing significantly to the market's growth. Traditional processing techniques, such as manual metal arc welding, present high environmental risks. This concern has been alleviated by using laser processing, particularly in the automotive industry. For...