Laser Drilling Market Estimated To Register Great Demand & Growth Due To Increasing Adoption Of Laser Drilling Across Various Applications.
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According to the recent market research report “Laser Drilling Market: Global Industry Analysis By Technology (Percussion Laser Drilling and Trepanning Laser Drilling), by Application (Automotive, Aerospace, Ceramic and Electronic Industries) & by region, forecast (2016-2021)”, published by IndustryARC, estimates that Asia-Pacific is registering the highest growth & will continue healthy growth untill end of forecast period.
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Laser drilling is the process of creating thru-holes by repeatedly pulsing focused laser energy on a material. Laser drilling has the ability to penetrate rocks with higher precision and efficiency that makes it a useful option in both geothermal and the oil and gas drilling activities.
According to researchers, laser drilling process has higher precision and faster penetration rate.
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Use of lasers in oil and gas and geothermal applications can be helpful to drill or cut through rocks and stones by causing minimal environmental degradation. Laser Drilling Market is currently being involved in many end-user applications including defense and aerospace applications.
Scope & Regional Forecast of the Laser Drilling Market
Oil and gas drilling activities are creating opportunities for Laser Drilling Market whereas the growing demand for portable electronic devices is a major growth driving factor of the market. Rising adoption of laser drilling in various applications especially aerospace and the automotive industry is the other key growth driver of the market.
The market is anticipated to continue registering significant growth rate till the end of the forecast period.
The market for laser drilling has been focusing on latest techniques and to improve the drilling laser services. The advantages provided with the laser drilling techniques are also encouraging market growth and attracting people for the adoption of laser drilling.
Utilizing laser technology is likely to reduce the drilling time and result in the minimal negative impact on the environment. However, high capital investments and generation thermal effects due to the operation are the major restraints for the market.
Asia-Pacific is estimated to have the highest growth as it has the high usage rate of laser drills followed by North America and Europe. Rising demand in Asia-Pacific for laser drills is also expected to increase the growth rate during the forecast period.
North America and Europe are expected to register the significant growth by the end of the forecast period. Among all the segments, electronic industry is estimated to register the largest market share by end of forecast period.
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Segmentations & Key Players Involved in the Laser Drilling Market
The Laser Drilling Market can be broken down into various segmentations on the basis of -
- Technology: Percussion Laser Drilling and Trepanning Laser Drilling.
- Application: Automotive, Aerospace, Ceramic and Electronic Industries.
- Region: Europe, Asia-Pacific, North America and Rest of the World.
Some of the key players involved in the Laser Drilling Market are as follows:
- JK lasers
- EDAC Technologies Corporation
- Rofin-Sinar Technologies, Inc.
- Newport Corporation
- IPG Photonics Corporation
Why access this report?
* The overall market has been consolidated from the perspective of different geographic locations and key economies for this market.
* Identifies growth sectors and factors driving or constraining the market.
* The market is analyzed based on the key attributes such as the power in the hands of producers and consumers, analysis on the degree of competition, and threats from substitutes and new entrants.
* The study includes the demand of this particular market on a global and regional scale for a five year period of 2016 - 2021, to assess how the market will develop.
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