Laser Cleaning Market is projected to grow at CAGR of 6.05% during the forecast period to reach a market size of US$752.274 million in 2023
The recent study on the laser cleaning market covers an in-depth analysis of the market on the basis of power, component, application, and geography. The report also covers the country level analysis within the regions as well. Additionally, the report covers the key trends in the market along with drivers and restraint during the forecast period 2018-2023. According to the report titled “Laser Cleaning Market – Forecasts from 2018 to 2023”, the market is expected to increase from US$528.780 million in 2017 to US$752.274 million by 2023, at a CAGR of 6.05% during the projected period. The report has segmented the laser cleaning market by power (low power, mid power, high power), component (hardware, software, services), application (contamination removal, mold cleaning, paint removal, art restoration, others) and geography (North America, South America, Europe, Middle East and Africa, Asia Pacific). Laser cleaning is a process of removal of contamination, impurities, or debris from the surface of a material. Laser cleaning proves as a more effective and efficient cleaning solution over the use of chemicals or abrasives as they do not require any special storage or disposal. Furthermore, these cleaners can be controlled to remove selective coatings increasing their application in many fields such as paint removal and historic restoration.
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High Power segment will hold a significant share of the laser cleaning market.
High power laser cleaners are being significantly used in the market as they assist in a variety of industrial and manufacturing purposes such as contamination and paint removal, surface structuring, mold cleaning and more. Additionally, the demand for these cleaners will increase owing to the rising industrialization, especially in developing economies such as India and China.
The growing requirement of hardware components will boost the demand for laser cleaning.
With the rising number of industries in different regions of the world, there is an increasing requirement for better cleaning and restoration devices. Laser cleaners prove to be a viable option in both of these domains. Laser cleaners are being adopted by not only manufacturing units, but also by aerospace and defense, and the art industry, as they require full control and precision over the cleaning process, which advanced laser cleaner units offer. The increasing investment in archaeological activities will also snowball the demand for these cleaners as they provide selective and controlled cleaning leading to proper restoration and minimal damage to the findings.
North America holds a substantial share in the market.
The North American region’s prevalence in the market can be directly attributed to the availability of many key players in the market and its vast manufacturing industry. According to the U.S. Bureau of Economic Analysis, the manufacturing industry contributed US$2.33 trillion to the U.S. economy in the first quarter of 2018. Moreover, this market will further see a lot of growth due to the growing aerospace industry and increasing investment in historical and art restoration.
Some of the major players discussed in the reports are Coherent, IPG Photonics Corporation, Clean Lasersysteme GmbH, Advanced Laser Technologies (ALT) Ltd., and General Lasertronics, among others.
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