Co2 Laser Market

Market Overview

 Global Co2 Laser Market Will significantly Grow At CAGR of 6.5 % By Forecast Period (2022-2027)

CO2 lasers, most often known as gas lasers, are the most commonly used lasers. In these lasers, the electricity is discharged through a gaseous medium that helps produce a laser beam. It works on the principle of conversion of electrical energy to a laser light output and focuses a high-intensity beam of laser with the help of a series of mirrors and out through a nozzle. The carbon dioxide laser (CO2 laser) was one of the first gas lasers to be developed and is extensively used for material processing applications, such as precision cutting, heat treatment of metals and non-metals, and welding, among others.

Gas lasers are widely used for their many advantages, such as efficiency in working with thicker materials and the ability to produce a smoother surface finish compared to other lasers. There has been an increasing demand for textiles all over the world, and textiles find a wide range of applications, right from clothing to automobiles. In automobiles, they are used for indoor lining, seat covers, convertible rooftops, and airbags, among others. The clothing used in cars requires precise cuts with no fraying. Co2 lasers work with high precision on non-metals and find increasing applications in the textile sector. Furthermore, the increasing demand from aerospace, medical, electronics, and other industries serves as tailwinds for market growth.

Segmental Analysis

Flourishing Automobile Sector & the Shift to Electric Mobility Drive the CO2 Laser Market

Laser cutting is widely used in the automobile industry, and Co2 lasers have become the preferred choice owing to their benefits over other types of lasers. The global automobile industry is taking strides and evolving at an unparalleled rate. With increasing disposal income, low-cost EMIs, and ever-changing technologies in the automobile sector that are attracting the newer generation, the demand for automobiles is expected to continue on an upward trend. For instance, as per the International Organization of Motor Vehicle Manufacturers, the total vehicle sales in 2018 was 95,055,937. This highlights the growing demand for vehicles and in turn, acts as a catalyst in improving the demand for Co2 lasers.

Automobile manufacturers are utilizing Co2 laser cutting machines, which offer high precision and processing speeds, high-quality cutting finishes, the ability to cut out complex designs that change from automobile to automobile. With advancements in automobile designs and technology, conventional cutting methods are rapidly being replaced with the latest laser cutting technologies.

In the automobile industry, Co2 laser cutting is used for cutting carriage components, such as apertures for antennas or left-right rods, cutting airbag cloth with high precision, which melts the cloth at the edges and avoids fraying, cutting composite materials used in the indoor lining, sealing, and coverings, and cutting roller blinds that are used in luxury cars.

The increasing demand for electric vehicles has also led to an upsurge in the demand for Co2 lasers. As per the International Energy Association, the global electric car fleet exceeded 5 million in 2019 from its previous year’s 2 million. This has increased the demand for electronic components in electric vehicles, which are cut with the help of Co2 lasers.

Increasing Healthcare Spending Drives the Application of CO2 Lasers in Manufacturing Medical Equipment and Devices

Products used in the medical industry have to meet the highest of the quality standards and tight dimensional tolerances. Laser cutting is a widely accepted method in the medical field since it fulfills the high-quality, hygienic clean surface requirements and provides dross-free and residue-free final products. Co2 lasers are used extensively in the manufacturing of stents, heart valves, and other medical devices.

As per the World Health Organisation, cardiovascular diseases are the foremost cause of death globally, and more people die annually from cardiovascular diseases (CVD) than from any other cause. Also, out of the 17 million premature deaths due to non-communicable diseases in 2015, around 82% were from low- and middle-income countries, and 37% were caused by cardiovascular diseases. The number of preventive and curative operations regarding CVD has gone up the recent past, which has increased the demand for heart stents and valves and indirectly surged the demand for Co2 laser cutting machines. Furthermore, lasers cutting is used in needle profiling, where non-radial cut geometries can be cut with ease, and the cutting of plaster, where contact-free laser technology allows profile cuts.

Regional Analysis

North America: A Key Manufacturer and Consumer of CO2 Lasers

North America is at the forefront of technological development and a key manufacturer and consumer of CO2 lasers. The regional market is expected to grow significantly during the forecast period due to the extensive use of CO2 laser cutting in healthcare and aerospace industries, especially in the U.S. As per the American Society of Plastic Surgeons, around 17.5 million surgical and minimally invasive procedures were performed in the year 2017, which was 2% more than the previous year. The tools used in plastic surgery need to be hygienic, precise, and residue-free, and thus, CO2 laser cutting is employed in their manufacturing. The U.S. spent over USD 16 billion on cosmetic surgery in the year 2018.

The resurgent rise in coronary heart diseases has seen an upsurge in the demand for bioresorbable stents, bare-metal stents, and drug-eluting stents, among others. Medical stents need to be manufactured with utmost precision and quality, and lasers are extensively used to manufacturer stents owing to their enhanced workflow, improved accuracy, and ability to cut complex shapes. The key players operating in this region and manufacturing stents are Abbott Laboratories, Medtronic PLC, and Boston Scientific Corporation, among others. The healthcare sector in Mexico is not as advanced as the U.S., but it is seeing rising investments and government support. This may lead global players operating in the region to partner with local players in Mexico to expand their reach in this region.

On the other hand, the aviation market in North America is expected to see to resurgent growth in the coming years due to the increase in the procurement of business jets, passenger aircraft, turbo-props, and defense aircraft, among others. As per data provided by Airlines of America, commercial aviation revenue of the U.S. accounted for USD 864 billion, which is about 5.1% of the country’s GDP. In June 2019, Delta Air Lines, a key player in North America, placed an order for five additional A220-100 aircraft, has a total of 95 aircraft on order. Aircraft manufacturing requires thousands of small and complex parts that need to be highly reliable and of the highest quality. Apart from this, every year, the U.S. spends around USD 640 billion on its military and has the latest technologies incorporated in its air force and defense jets, such as F-16 Fighting Falcon and A-10 Thunderbolt II, among others.

The emergence of COVID-19 is a subject of observation, and so is its future consequence on the market. The overall sentiment has shifted from service-based industries to essential healthcare industries, and countries will demand more security in terms of the facilities provided in hospitals. This is likely to propel the market growth of CO2 lasers, which are used for the precision cutting of complex parts that go into making medical equipment and devices.

Co2 Laser Market Segmentation

By Type

• High-Power Diffusion-Cooled Slab Lasers
• Fast axial flow lasers
• Fast Transverse Flow Lasers
• Transverse Excited Atmosphere (TEA) Lasers
• Gas Dynamic CO2 lasers

By Application

• Automobile
• Aerospace
• Medical
• Industrial Machinery
• Textiles
• Electronics Industry
• Others

By Region

North America

• The U.S.
• Canada
• Mexico

Europe

• Germany 
• France
• Italy
• The U.K.
• The Rest of Europe

Asia-Pacific

• China 
• India
• Japan
• South Korea
• Australia
• The Rest of APAC

Central and South America and the Caribbean 

• Brazil
• Argentina
• Colombia
• The Rest of Central and South America and the Caribbean 

The Middle East

• Saudi Arabia
• The UAE
• Qatar
• Oman
• Turkey
• The Rest of Middle East

Africa 

• Nigeria
• South Africa
• The Rest of Africa