A Summary of the LASER Light Cables Market Developments (2023 to 2033)
As per Future Market Insights, the LASER light cables market is anticipated to attain a value pool of US$ 700 million by 2023-end. Global demand for LASER light cablesis expected to rise at a CAGR of 19% to US$ 4 billion in 2033.
Data Points
Key Statistics
Expected Market Value in 2023
US$ 700 million
Projected Market Value in 2033
US$ 4 billion
Growth Rate (2023 to 2033)
19% CAGR
Growing Demand for LASER Light Cables: An Overview of Market Drivers
Increasing demand for minimally invasive surgeries: With the growing need for less invasive surgical procedures, the use of laser light cables have become more prevalent. Laser light cables are used in a variety of procedures, including endoscopy, laparoscopy, and arthroscopy, where precise cutting and coagulation are required.
Rising prevalence of chronic diseases: The increasing prevalence of chronic diseases, such as cancer and cardiovascular diseases has increased the demand for laser light cables in the medical industry. Laser light cables are used in cancer treatment and diagnosis, cardiovascular procedures, and other surgical procedures.
Growing demand for cosmetic surgeries: With the increasing demand for cosmetic surgeries, laser light cables are being used in cosmetic procedures, such as laser skin resurfacing and hair removal. Laser light cables provide precise and controlled energy delivery, which is essential for achieving optimal results.
Expanding Market Presence: Opportunities for LASER Light Cables in Emerging Market
Expansion into emerging markets: There is a significant potential for growth in emerging markets, such as Asia-Pacific, Latin America, and the Middle East. The increasing demand for laser light cables in these regions, coupled with the rising number of surgical procedures, creates opportunities for companies to expand their market presence.
Integration with advanced technologies: Laser light cables can be integrated with other advanced technologies, such as robotics, augmented reality, and artificial intelligence. This integration can improve the precision and accuracy of surgical procedures, which can enhance patient outcomes and increase the demand for laser light cables.
Customization of laser light cables: Customization of laser light cables can cater to the specific needs of individual patients and healthcare providers. The ability to customize laser light cables can help companies differentiate themselves in the market and increase their market share.
Collaboration and partnerships: Collaboration and partnerships with healthcare providers and other stakeholders can provide companies with opportunities to access new markets and expand their product offerings. Partnerships can also help companies improve their distribution networks and increase their market share.
Fiber Optic LASER Light Cables: A Growing Trend in the LASER Light Cables Market
Increasing demand for fiber optic laser light cables: Fiber optic laser light cables are becoming increasingly popular due to their high transmission rates, flexibility, and durability. These cables are also immune to electromagnetic interference and are capable of transmitting laser light over long distances, which makes them ideal for use in surgical and industrial applications.
The growing use of diode laser light cables: Diode laser light cables are being increasingly used in cosmetic and medical applications due to their compact size, energy efficiency, and affordability. These cables are capable of delivering precise laser energy, making them ideal for use in minimally invasive surgical procedures.
Adoption of disposable laser light cables: Disposable laser light cables are gaining popularity due to their convenience, reduced risk of cross-contamination, and ease of use. These cables are ideal for use in surgical procedures that require high levels of sterility and cleanliness.
Increasing focus on product differentiation: Companies are focusing on developing differentiated products to gain a competitive advantage in the market. Differentiation can be achieved through the customization of products, the development of new materials, and the integration of advanced technologies.
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LASER Light Cables Market Overview
As per the latest research estimates, the LASER light cables market is expected to witness high growth in the forecast period 2021 to 2031 with a CAGR of 14 to 15%. Increasing electrification in transportation is understood to drive the demand for LASER processing and in turn the demand for these cables
What is Driving the Demand for LASER Light Cables
The usage of LASERs in the broad fields of applications like engraving, metal cutting, texturing, engraving, drilling, welding, etc. in the metalworking process which in turn caters to a plethora of industries such as automotive, heavy engineering, and general manufacturing.
Also, wiring requirements in electronics telecommunications, and medical equipment have necessitated the use of Laser light cables. As per opinions by LASER light cable manufacturers, Electric vehicle sales rose to a record high of 3 million in 2020, which was responsible for the highest sales for these cables in the year 2020.
When compared to larger standard wiring, the cable can save space. This property has made it popular for a variety of vehicle safety and lighting features. Another factor that is driving the sales of these cables is that Fiber LASERs provide precise, fine welding and fast cutting, but disk LASERs with their ease of power scalability can offer manufacturers flexibility.
The flexibility with which LASER can now be integrated into the system with the help of connectors while complying with LASER safety regulations draws the demand from the end users. Moreover, for industrial LASER applications such as vehicle manufacturing, 24/7 uptime is even more critical.
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Automation to Boost LASER Light Cables Sales
With the advent of automation in accordance with Industry 4.0 norms, the sales for these cables rose in the historical period 2016 to 2020
A technique wherein, operation time on any numerous job is maximized. Operators also increase capacity while reducing the hourly cost of LASER processing
When the fixed costs (such as the machine investment, reflected in depreciation) can be distributed across a larger number of hours or parts, manufacturers gain the freedom to be more competitive in pricing or to increase their margin.
During the Covid-19 pandemic, the demand saw an obvious drop due to the stoppage of the manufacturing industry. The ongoing crisis caused by the COVID-19 pandemic, brought the global automotive industry to an abrupt halt, with sales plummeting in most markets. The pandemic, although gave automobile industry players an opportunity to relocate themselves by focusing on connectivity and electrification.
With stringent carbon dioxide emissions goals in play by various countries, the electric vehicle market is expected to tremendously grow.
China LASER Light Cables Market Overview
According to the United Nations Statistics Division, China makes and sells more manufacturing goods than any other country on the planet and accounted for 28.7% of global manufacturing in 2019
Advanced infrastructure, an abundance of resources, and readily available labor make China earn this title. The iron and steel production dominating, in turn, the vehicle production, the LASER light cable market value in China, is amongst the highest in the global market.
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Germany Demand Outlook for LASER light cables
Germany, the manufacturing capital of Europe, specializes in medium-range technology products, demonstrating that quality is the primary driver of German international success, that price and cost advantage determine competitiveness in some product groups, and that R&D efforts have contributed to the development and maintenance of German manufacturing competitiveness, leading to the highest consumer of industrial automation tools, signifying the largest demand creator of LASER light cables in Europe.
The electric vehicle sales in Germany were the highest in Europe Union in 2020, accounting for such huge sales from the country. The electrification of the entire transportation sector wherein, light cables are used for laser processing of copper, a metal of choice in electric vehicles due to its high conductivity, is driving the demand in Germany.
Who are the Key Manufacturers and Suppliers of LASER light cables
Some of the leading manufacturers and suppliers of LASER light cables include
Photonic Tools
LASER COMPONENTS
LEONI Group
II-VI Incorporated
Optoskand
Trumpf
Vitex, LLC.
RF Industries, Inc.
Fujikura Ltd.
Koenig Machinery, etc.
The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
