The Asia Pacific region is a large market for industrial lasers worldwide. In 2017, the Asia-Pacific fiber laser market was 745 million US dollars, 2020 to 1.256 billion US dollars, with a compound annual growth rate of 20 percent.
The demand for fiber lasers in Europe is mainly due to the automotive industry, which enables high-strength steel cutting and welding of automotive parts. In 2017, the European fiber laser market was 508 million US dollars, 2020 to 754 million US dollars, with a compound annual growth rate of 14%.
North America is expected to grow rapidly in the North American laser market in the areas of research, communications, medical, military, and defense industries, as well as US manufacturing returns. According to forecasts, the 2017 North American fiber laser market will be 282 million US dollars, and it is expected to reach 411 million US dollars in 2020, with a compound annual growth rate of 10%.
It can be seen that the future demand for industrial lasers in the Asia-Pacific region is the largest and the fastest growth rate. Among them, the demand for upgrading of China's manufacturing industry is rapid, and the demand for lasers can grow by up to 20%.
Prospects for the domestic laser industry Experts predict that the high level of domestic laser equipment downstream market will not only bring growth opportunities for equipment companies, but also promote the development of the entire industry chain. Since many of the core components of equipment companies are mostly purchased in China, they have also brought rapid growth to domestic upstream crystal and laser manufacturers.
