IndustryARC’s recent report analysis highlights that the global semiconductor market size was valued between $420 billion to $430 billion as of 2018, which is definitive to have a demand influence on the laser drilling market, being primarily applied in drilling holes in electronic circuit boards. Due to increasing emission induced air pollution factor, industries are utilizing eco-friendly laser drilling method to accomplish efficiency, reduced noise, nitrogen oxides, and carbon monoxide production during metal and machine drilling procedure. The global laser drilling market leveraged a revenue generation of $3.5 billion in the year 2018. The analyst remarks, “This market has a prospering future prospect owing to the increasing demand for electronic and IoT driven devices upheaving the semiconductors requirement simultaneously driving demand for the laser drilling market.” Automotive and aerospace industry also rely hugely on laser drilling for turbine engine manufacturing and drilling precise holes for injection nozzles, consequently fueling the market growth. With huge application in the automotive and aerospace industry, the laser market demand for this segment will increase at 8.77% CAGR during the forecast period of 2019-2025.
The report is titled “Laser Drilling Market: Global Industry Analysis By Technology (Percussion Laser Drilling and Trepanning Laser Drilling), by Application (Automotive, Aerospace, Ceramic and Electronic Industries) & by region – Forecast (2019-2025).” This report proffers about the new innovations in the laser drilling market and a detailed review on the investing strategies of different companies along with a comparative analysis for the vendors understanding.
Global Laser Drilling Market: Leading Segments:
The global demand for the laser drilling market is rising rapidly and is estimated to grow at a CAGR of 6.56% through to 2025 and will continue to produce a high economic outcome in the foreseeable period. APAC is dominating the global laser drilling market with a regional share of 33.85% in the year 2018. With a huge base of electronic manufacturing companies and a stronghold of the automotive industry in this province, laser drilling activities will be facilitated extensively. Also, APAC’s aviation market will generate a leading demand through to 2035 with China replacing the U.K. as the largest aviation market in the world by 2024, which will be followed by India ranking third in the list by 2025. This will drive the demand of the aerospace industry to obtain and sustain this growth subsequently relying heavily on ancillary industries such as the laser drilling market for manufacturing of effective machinery.
Companies driving the innovation and contributing largely to the global laser drilling market revenue includes Laserage Technology Corporation, EDAC Technologies Corporation, Scantech Laser Pvt. Ltd, Rofin-Sinar Technologies, Inc., JK lasers, Resonetics, Lenox Laser, and IPG Photonics Corporation.
Laserage Technology Corporation is a leading laser processing service and solution provider company offering customized laser cutting, drilling, welding, scribing and other services to aerospace, medical, microelectronics, and other industries. They offer high precision hole drilling upto 0.002” diameter for materials such as steel, ceramic substrates, plastic, aluminum alloys, fused quartz substrates, and others.
Global Laser Drilling Market: Disruptive Trends and Growth Drivers:
· Increasing demand for the microelectronics market induced by high demand for connected devices and electronic equipment is likely to drive the laser drilling market growth for accuracy and environmental friendly drilling technique.
· Power generation and aerospace industry utilize laser drilling procedure for effective manufacturing of turbine engines which is likely to propel the laser drilling market growth.
· Future Prospects With Hydropower Projects - Major investments in the hydropower sector will seemingly expedite the scope of opportunity for the laser drilling market being utilized in the penetrating the gas turbine blades thereby complimenting the turbine engine performance subsequently influencing the power generation. The peak in energy consumption and green energy trend push forth the hydropower plant establishment throughout the world highlights considerable investment in the global laser drilling market.
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