2022 Laser Market Data
Industrial Laser and System Markets Trend Sideways in 2022
Growth Expected for 2023
28 December 2022
The global market for industrial laser systems trended sideways in 2022. The premininary estimate by Optech Consulting is based on data available by December 2022, which includes the financial reports for the first three quarters of the year. The market reached a volume of USD 22 billion, level with the USD 22 billion reached in the year before when the market surged by 25% (final 2021 figures). The 2022 trend results from diverging developments with robust growth in the Americas and decreased demand in China where the market corrected following a steep increase in 2021. In Europe, demand grew in local currencies, but the dollar value of the market did not increase due to currency effects. The average 2022 value of the euro in USD was more than 10% lower as compared to 2021. By application segment, continued strong growth was recorded for electrical vehicle (EV) and semiconductor manufacturing related laser applications. The 2022 global market for industrial lasers reached USD 5.3 billion, level with the final 2021 value and corresponding to 24% of the laser systems market.
For 2023 Optech Consulting expects growth in the range of 5% to 10% for both the industrial laser and the system market. Continued growth is expected in North America as well as in Europe, while for China, the largest market, visibility is low due to the uncertainties weighing on the economic development.
