CO2 Laser Market Size & Share, by Application (Therapeutic & Diagnostics, LiDAR Imaging, Cutting & Perforations, Welding, Drilling); Output Power (Up to 50W, 50W to 500W, 500W to 1000W, Above 1000W); End-user (Military & Defense, Aerospace, Metal Processing, Healthcare, Manufacturing, Automotive, Telecommunication) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 5151
  • Published Date: Aug 11, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

CO2 Laser Market size is anticipated to reach USD 90 billion by the end of 2035, growing at a CAGR of 5% during the forecast period i.e., 2023 – 2035. In the year 2022, the industry size of CO2 laser was around USD 2 billion. The growth of this market can be primarily driven by the increasing demand for co2 lasers in non-invasive surgeries and diagnosis. Nowadays, people want everything fast and quickly this goes for diagnostics tests, medication, and surgeries as well. With rapid technological advancement, people are now exposed to non-invasive diagnoses and surgeries. This is possible with the help of co2 laser as it is efficient, precise, and literally causes very less pain & also they are a substantial part of these types of surgeries.

The growth of this market is also driven by the increasing application of co2 lasers in numerous industries. On account of increasing consumer preference and increasing demand for numerous industries, there has been a high rise in trends associated with innovation in laser technology. Such as the production sector currently requires a laser with high output power and high-speed finishing for cutting and welding. An improvement in beam precision is particularly essential since excellent beam systems offer accurate and quality-controlled operations.


CO2 Laser Market
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CO2 Laser Sector: Growth Driver and Challenges

Growth Drivers

  • Expansion of Automotive Sector – Currently co2 lasers have become a notable choice in the automotive sector owing to a wide variety of benefits and properties. With increasing disposable income, no-cost EMIs, and increasing urbanization all across the globe the automotive sector is reaching greater heights and receiving high traction. In 2021, globally around 67 million units of passenger cars were sold. Vehicle manufacturers use co2 laser cutting machines as they offer the best quality finished cutting, high precision, and processing and it also has the potential to cut complex designs in automobiles. Thus, with the development in the technology and designs of automobiles rapidly the traditional cutting system is being replaced by the co2 laser cutting machines.
  • High Demand in Healthcare Sector - Co2 lasers are hugely used in the healthcare sector for several applications such as surgeries, diagnosis, dermatology, and dentistry. Besides, they are also widely used in the manufacturing of various medical devices such as heart valves, stents, and many more. Thus, the growing integration of co2 laser in this sector is further influencing the growth of the market in the future.
  • Growing Shift towards Electric Mobility – The increasing shift towards electric vehicles is another significant factor driving the growth of the CO2 laser market in the forecast timeframe. They are used in welding the battery cells together in electric vehicle batteries. This is a vital process as it makes sure that the batteries are properly sealed and that cells are connected in the right manner. From 4% in 2020 to 14% in 2022, the proportion of electric vehicles in overall sales has more than quadrupled in only three years across the globe.

Challenges

  • Environmental Concerns Associated – The co2 laser emits carbon dioxide which is a greenhouse gas responsible for global warming. As environmental standards are becoming more strict, industries may face pressure to adopt greener technologies which might affect the growth of this market in the upcoming future.
  • Competition from Alternatives Technologies
  • Import and Export Standards Associated

CO2 Laser Market: Key Insights

Base Year

2022

Forecast Year

2023 – 2035

CAGR

~5%

Base Year Market Size (2022)

~USD 2 billion

Forecast Year Market Size (2035)

~USD 90 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Co2 Laser Segmentation

Application (Therapeutic & Diagnostics, LiDAR Imaging, Cutting & Perforations, Welding, Drilling)

CO2 laser market from the cutting and perforation segment is set to witness the largest market revenue of 30% by the end of 2035. The growth of this segment can be attributed to the increasing utilization of co2 laser cutting and perforations in various end-use industries. Owing to its high range of benefits and advantages such as high speed, finished touch, and notable precision. Additionally, they can handle both thick and thin substances leading to versatility in several applications. They can be utilized for delicate and heavy-duty cutting and perforation tasks making them a preferred option for a large variety of sectors.

End Use (Military & Defense, Aerospace, Metal Processing, Healthcare, Manufacturing, Automotive, Telecommunication)

The healthcare segment in the CO2 laser market is poised to account for the highest CAGR in the time period between 2023 – 2035. This can be propelled by an increasing prevalence of cosmetic surgery and procedures all across the globe. C02 lasers are majorly used in aesthetic and cosmetic surgery products for skin rejuvenation, wrinkle reduction, and the treatment of pigmentation issues. Fractional co2 lasers particularly have gained popularity for their potential to target specific areas while leaving the surrounding tissue tract. Besides, they are also utilized for disinfection and sterilization purposes in the medical sector. With around four million cosmetic treatments performed globally in 2020, the United States set the record.

Our in-depth analysis of the global market includes the following segments:

 

 

   Application

  • Therapeutic & Diagnostics
  • LiDAR Imaging
  • Cutting & Perforations
  • Welding
  • Drilling

 

 

   Output Power

  • Up to 50W
  • 50W to 500W
  • 500W to 1000W
  • Above 1000W

 

 

 

 

   End Use

  • Military & Defense
  •  Aerospace
  • Metal Processing
  •  Healthcare
  • Manufacturing
  • Automotive
  • Telecommunication

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CO2 Laser Landscape – Regional Synopsis

North America Market Forecasts

The CO2 laser market in the North American is predicted to hold the largest market share of 34% by the end of the projection period. The region is the largest manufacturer and consumer of co2 lasers with escalating technological advancements in the region. The growth of this market can be attributed to the account of increasing utilization of co2 laser cutting in the healthcare and aerospace sector particularly in the United States. Co2 lasers are utilized in laser surgery which is a minimally invasive procedure that uses lasers to treat a variety of medical conditions. In 2020, around 4.6 million aesthetic minimally invasive treatments had taken place. Moreover, the increasing demand for laser surgery is influenced by escalating geriatric population and increasing incidence of cosmetic surgeries in the region further fuelling the industry growth in the region during the estimation period.

APAC Market Statistics

In the Asia Pacific region, the CO2 laser market is anticipated to experience significant market share during the time period between 2023 – 2035. The economies of China, India, and South Korea are among those that have made significant contributions to market expansion. The expansion is linked to the region's increasing use of CO2 laser tools in manufacturing and industrial automotive applications.

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CO2 Laser Market Size
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Companies Dominating the CO2 Laser Landscape

top-features-companies
    • Coherent Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • PRC Laser Corporation
    • TRUMPF
    • LIGHT MACHINERY, INC.
    • Boss Laser, LLC
    • Epilog Laser
    • Alma Lasers
    • SYNRAD
    • Kern Electronics & Lasers Inc.
    • GSI Group Ltd.

In-the-news

In The News

  • Hybrid – The latest innovation from Boss Laser is set to transform the laser cutting and engraving industry. Equipped with both a CO2 laser and a CNC spindle, this state-of-the-art tool is extremely versatile and can handle a wide range of materials and applications with unsurpassed precision. 
  • Alma, a company of Sisram Medical, announced in July 2021 the FDA 510(k) certification for their Alma Hybrid laser. This laser platform is the first to include a 10,600 nm invasive laser (CO2) and a 1,570 nm non-invasive laser for skin resurfacing, according to a press release announcing the approval. This allows physicians to select personalized treatment models by combining the two wavelengths. 

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 5151
  • Published Date: Aug 11, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The growing demand from the healthcare industry increasing shift towards electrical mobility are some of the major factors anticipated to drive the growth of the co2 laser market.

The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2023 – 2035.

The major players in the market are PRC Laser Corporation, FANUC Corporation, TRUMPF, LIGHTMACHINERY, INC., Boss Laser, LLC, Epilog Laser, Alma Lasers, Kern Electronics & Lasers Inc., and others.

The healthcare segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in North America is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
CO2 Laser Market Report Scope
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