Global Markets for Laser Systems, Components, and Materials to Grow at 7.7 Percent CAGR through 2029

Strategic Insights -

The global market for laser systems, components, and materials is expected to reach $30.4 billion by the end of 2029, up from $21.0 billion in 2024, driven by growing demand in industries such as cosmetics, industrial, telecom, and defense. The market is driven by factors such as automation, precision manufacturing, and increasing adoption of laser-based technologies in various sectors.

Key Takeaways:

  • The global market for laser systems, components, and materials is expected to grow from $21.0 billion in 2024 to $30.4 billion by 2029, at a CAGR of 7.7 percent from 2024 through 2029.
  • The market is segmented based on type (solid-state, semiconductor, gas, and liquid), applications (macro- and micro-processing), and end-use sectors such as industrial, medical, telecom, and defense.
  • The solid-state lasers segment will dominate the market through 2029, driven by its applications in industrial, medical, and telecom sectors.
  • Asia-Pacific holds the largest share of the global market, driven by growing demand in countries such as India and China.
  • The market is expected to be driven by factors such as automation, precision manufacturing, and increasing adoption of laser-based technologies in various sectors.
  • Emerging startups such as Carbon Robotics, Orbital Lasers Co., Ltd., and Transcelestial are developing innovative laser-based solutions for various applications.
  • The global semiconductor sales grew by 19 percent in FY 2024, reaching $627.6 billion, and is expected to see double-digit growth again in FY 2025.

Statistics:

  • The global market for laser systems, components, and materials is expected to grow from $21.0 billion in 2024 to $30.4 billion by 2029, at a CAGR of 7.7 percent from 2024 through 2029.
  • The solid-state lasers segment is expected to dominate the market through 2029, with a CAGR of 8.3 percent.
  • Asia-Pacific holds the largest share of the global market, with a CAGR of 8.5 percent.
  • The market is expected to be driven by factors such as automation, precision manufacturing, and increasing adoption of laser-based technologies in various sectors.
  • Global semiconductor sales reached $627.6 billion in FY 2024, growing by 19 percent.

Sources:

  • BCC Research
  • Semiconductor Industry Association
  • BCC Research's Global Markets for Laser Systems, Components and Materials report