Laser Processing Market to Expand at 10.2% Cagr Between 2014 and 2020, Supported by Growth of Manufacturing Sector

A recent market study on the global laser processing market has been published by Transparency Market Research (TMR), estimating the market to attain a value of US$17.26 billion by 2020, developing at a healthy CAGR of 10.2% between 2014 and 2020. The publication, titled “Laser Processing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”, reports that the global laser processing market had reached a value of US$8.76 billion in 2013.According to the report, the laser processing market is analyzed on the basis of product type, process, and end-use industry. Based on the types of products, the gas lasers product segment held 60.2% of the overall laser processing market in 2013. The material processing market segment dominated the global laser processing market based on processes, generating the highest revenue in 2013. The automotive and aerospace industries led the global laser processing market based on end use owing to the rapid increase in demand from original equipment manufacturers (OEMs) for laser technology in material processing, states the research study.

Browse the full Laser Processing Market Report at http://www.transparencymarketresearch.com/global-laser-processing-market.html

The report also discusses the regional distribution of the global laser processing market into North America, Europe, Asia Pacific, and the Rest of the World. The global market was dominated by Asia Pacific in 2013, which held a 42.6% share in the global market.During the forecast period, the laser processing market in Asia Pacific is expected to register the fastest growth, supported by the rise in the number of manufacturing plants of several companies in the market. The high demand for laser technology from rapidly developing economies such as China, Japan, and South Korea is one of the primary factors boosting growth prospects of this market. China, among other Asian nations, is the global market leader owing to the presence of a...