The global Laser Diode Market Growth Accelerated by Widespread Adoption in Various Industrial Applications
Laser diodes find widespread applications in industrial processes such as cutting, welding, drilling, and marking due to their advantages such as high power, precision, and versatility. Laser diodes generate monochromatic, coherent light when an electric current passes through a semiconductor material. The laser diode technology is more affordable and energy-efficient as compared to traditional gas or solid-state lasers. Laser diodes are increasingly being adopted across industries such as healthcare, consumer electronics, automotive, telecommunications, and industrial manufacturing for applications like optical storage, laser printing, laser pointers, barcode scanners, and biomedical therapies.
The global Laser Diode Market is estimated to be valued at US$ 16.79 Mn in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growth in applications of laser diodes across various industrial sectors is one of the key trends fueling the expansion of the laser diode market. In industries such as automotive, laser diodes are widely used for micro-welding, cladding, brazing, and drilling small holes. They are also employed for cutting and marking applications in industries such as electronics and medical device manufacturing. Increasing miniaturization and demand for high-precision manufacturing processes have led to the rising adoption of laser diodes across industrial environments. Growing automation across industries is also supporting the deployment of laser diodes which offer advantages such as precision, speed, and repeatability. Rising investments in developing industrial infrastructure and manufacturing facilities globally are expected to augment the demand for laser diode market during the forecast period.
Segment Analysis
The global laser diode market is dominated by the infrared laser diodes sub segment. Infrared laser diodes find wide applications in optical fiber communication systems due to long transmission distance capability of infrared signals. These laser diodes are used in barcode scanners, laser printers, CD/DVD players etc. Short wavelength laser diodes sub segment is expected to witness highest growth during the forecast period due to increasing demand for blue laser diodes in data storage devices.
Key Takeaways
The Global Laser Diode Market Size is expected to witness high growth over the forecast period supported by increasing adoption across various end-use industries. The global Laser Diode Market is estimated to be valued at US$ 16.79 Mn in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period 2023 to 2030.
Asia Pacific dominates currently due to strong electronics manufacturing base in China, Taiwan and South Korea. Regionally, Asia Pacific is forecast to be the fastest growing regional market during the analysis period attributed to rapidly expanding consumer electronics sector and presence of major consumer markets like China and India. Production is shifting from developed markets to Asia to leverage lower costs.
Key players operating in the laser diode market are Air Liquide, Air Products & Chemicals Inc., Praxair Inc., Linde Plc., and Messer Group GmbH. Major players are investing in r&d to develop innovative solutions and exploring new application areas to gain competitive edge. They also focus on developing turnkey solutions to strengthen production capabilities of customers.
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