Laser World of Photonics: Global laser market in growth
The international laser market is performing strongly. Research revealed at Laser World of Photonics suggests the global laser systems market grew by 2% in 2022, with an estimated value of $22.5bn. The laser market grew slightly to an estimated value of $5.3bn.
This year, the combined value of both sectors is expected to deliver 10% nominal growth, with the momentum expected until at least 2028, with estimates of 7 to 8% nominal growth across the period. This forecast is based on a steady global economic growth environment and inflation decreasing to 2% across the same timeframe.
According to Optech Consulting, China, which contributes strongly to these numbers, has seen growth softening in recent years but is expected to recover in 2023 and beyond. The nation’s GDP is expected to be +4.5% year-on-year in the first quarter of 2023.
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