The global market for lasers is expected to reach $16 billion in 2020.
Wellesley, Mass. (PRWEB) July 13, 2015
High GDP rates in the Asia Pacific region have increased its appetite for customized laser products, bolstering its market growth. As many developing economies in the region ratchet up manufacturing to meet increased demand, BCC Research reveals in its new report the APAC region should outpace the Americas and Europe, Middle East and Africa regions in both unit and dollar sales.
The global market for lasers totaled nearly $10.8 billion in 2014. This market is expected to reach $11.7 billion and $16 billion in 2015 and 2020, respectively, reflecting a five-year compound annual growth rate (CAGR) of 6.5%. The American market is projected to grow to nearly $3.3 billion in 2015 and $4.2 billion in 2020, with a CAGR of 5.5%. In the Asia Pacific region, bolstered by a thriving manufacturing sector, the market is projected to reach $5.1 billion and $7.2 billion in 2015 and 2020, respectively, with a CAGR of 7.2%.
This report analyses the laser market along major categories such as laser technologies, end-applications, geographical regions and value chain within the context of innovation, design, manufacturing, integration, and sales.
The fate of lasers is inextricably linked with the end-user industry it serves. The manufacturing sector will continue to thrive in developing economies of the APAC region. A counterbalancing factor for the flight of manufacturing lies in the high demands for customization of the laser.
“The demand for customization has given rise to a multitude of small- and medium-sized companies that continue to cater to their respective niche areas,” says BCC Research analyst Kaustubha Parkhi. “These companies want to be as close to the end-user as possible; and their activities are underpinning the laser industry in the developed markets. While recent years witnessed a slowdown of sorts in India and China, the former seems to have turned around in the present financial year.”
Global Markets for Laser Systems, Components and Materials (PHO002B) analyzes the global markets and technologies for laser systems, components, and materials. It also provides forecasted trends and revenue through 2020, including regional breakdowns into individual regions in value and volume terms.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming(at)bccresearch(dot)com.
About BCC Research
BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years we've helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key market participants. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Recently selected as the world’s greatest market research company, BCC Research is a unit of Eli Global, LLC. Visit our website at http://www.bccresearch.com. Contact us: (+1) 781-489-7301 (U.S. Eastern Time), or email information(at)bccresearch(dot)com.