CO2 Laser Market Trends

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)

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 â€“ 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 Trends