Laser Market

The global market for lasers, excluding laser diodes, is expected to experience growth in market volume and value from 2022 to 2030. China dominates the market in terms of consumption, production, import, and export, with notable growth trends in these areas. Despite fluctuations in global consumption and production, the overall trend indicates a positive trajectory for the laser market.

Market Forecast

Driven by increasing demand for lasers, other than laser diodes worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +6.0% for the period from 2022 to 2030, which is projected to bring the market volume to 202M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +8.2% for the period from 2022 to 2030, which is projected to bring the market value to $43.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Lasers, Other Than Laser Diodes

In 2022, consumption of lasers, other than laser diodes decreased by -28.1% to 127M units for the first time since 2015, thus ending a six-year rising trend. Over the period under review, consumption, however, recorded a strong increase. Global consumption peaked at 176M units in 2021, and then fell sharply in the following year.

The global laser market revenue contracted remarkably to $23.2B in 2022, reducing by -20.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $31.9B. From 2015 to 2022, the growth of the global market remained at a lower figure.

Consumption By Country

China (101M units) constituted the country with the largest volume of laser consumption, comprising approx. 79% of total volume. Moreover, laser consumption in China exceeded the figures recorded by the second-largest consumer, Hong Kong SAR (9.8M units), tenfold. The third position in this ranking was held by Mexico (4.1M units), with a 3.2% share.

In China, laser consumption expanded at an average annual rate of +18.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Hong Kong SAR (+1.1% per year) and Mexico (+6.6% per year).

In value terms, China ($6.8B) led the market, alone. The second position in the ranking was held by Hong Kong SAR ($3B). It was followed by Russia.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +7.6%. The remaining consuming countries recorded the following average annual rates of market growth: Hong Kong SAR (+1.1% per year) and Russia (+13.4% per year).

In 2022, the highest levels of laser per capita consumption was registered in Hong Kong SAR (1,294 units per 1000 persons), followed by China (71 units per 1000 persons), Mexico (31 units per 1000 persons) and Russia (16 units per 1000 persons), while the world average per capita consumption of laser was estimated at 16 units per 1000 persons.

From 2012 to 2022, the average annual rate of growth in terms of the laser per capita consumption in Hong Kong SAR was relatively modest. In the other countries, the average annual rates were as follows: China (+18.5% per year) and Mexico (+5.6% per year).

Production

World Production of Lasers, Other Than Laser Diodes

After two years of growth, production of lasers, other than laser diodes decreased by -2.7% to 34M units in 2022. Over the period under review, production showed a perceptible descent. The most prominent rate of growth was recorded in 2014 when the production volume increased by 13%. As a result, production reached the peak volume of 56M units. From 2015 to 2022, global production growth remained at a somewhat lower figure.

In value terms, laser production rose significantly to $17.2B in 2022 estimated in export price. In general, production saw a abrupt descent. The most prominent rate of growth was recorded in 2013 with an increase of 34% against the previous year. Over the period under review, global production attained the maximum level at $56.8B in 2014; however, from 2015 to 2022, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (15M units), Hong Kong SAR (14M units) and Germany (1.7M units), together comprising 90% of global production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Germany (with a CAGR of +34.5%), while production for the other global leaders experienced a decline in the production figures.

Imports

World Imports of Lasers, Other Than Laser Diodes

In 2022, supplies from abroad of lasers, other than laser diodes decreased by -34.7% to 121M units, falling for the second consecutive year after five years of growth. Overall, imports, however, saw prominent growth. The pace of growth appeared the most rapid in 2018 when imports increased by 134% against the previous year. Over the period under review, global imports hit record highs at 188M units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, laser imports declined to $8.1B in 2022. Over the period under review, imports, however, recorded a resilient expansion. The growth pace was the most rapid in 2017 when imports increased by 35%. Over the period under review, global imports reached the maximum at $8.7B in 2021, and then shrank in the following year.

Imports By Country

China dominates imports structure, recording 105M units, which was approx. 87% of total imports in 2022. Mexico (4.2M units) and Russia (2.3M units) took a little share of total imports.

China was also the fastest-growing in terms of the lasers, other than laser diodes imports, with a CAGR of +42.8% from 2012 to 2022. At the same time, Russia (+31.6%) and Mexico (+6.8%) displayed positive paces of growth. From 2012 to 2022, the share of China increased by +73 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($2.4B) constitutes the largest market for imported lasers, other than laser diodes worldwide, comprising 30% of global imports. The second position in the ranking was taken by Mexico ($33M), with a 0.4% share of global imports.

In China, laser imports expanded at an average annual rate of +15.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (+8.4% per year) and Russia (-7.5% per year).

Import Prices By Country

In 2022, the average laser import price amounted to $67 per unit, jumping by 41% against the previous year. Over the period under review, the import price, however, saw a abrupt curtailment. Over the period under review, average import prices attained the peak figure at $185 per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($23 per unit), while Russia ($6.6 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+1.6%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Lasers, Other Than Laser Diodes

In 2022, the amount of lasers, other than laser diodes exported worldwide reduced dramatically to 28M units, which is down by -35.4% against 2021 figures. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 66% against the previous year. As a result, the exports attained the peak of 53M units. From 2021 to 2022, the growth of the global exports remained at a lower figure.

In value terms, laser exports shrank slightly to $8.8B in 2022. In general, exports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 31%. Over the period under review, the global exports attained the maximum at $9.1B in 2021, and then reduced slightly in the following year.

Exports By Country

In 2022, China (20M units) represented the main exporter of lasers, other than laser diodes, making up 70% of total exports. Hong Kong SAR (4.7M units) held the second position in the ranking, distantly followed by Germany (1.6M units). All these countries together held near 22% share of total exports. The following exporters - South Korea (641K units) and the United States (505K units) - each accounted for a 4% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to laser exports from China stood at +3.0%. At the same time, South Korea (+27.0%), Germany (+20.5%) and the United States (+7.7%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in the world, with a CAGR of +27.0% from 2012-2022. By contrast, Hong Kong SAR (-9.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Germany and South Korea increased by +18, +4.8 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest laser supplying countries worldwide were Germany ($2.3B), South Korea ($1.8B) and the United States ($1.4B), with a combined 63% share of global exports.

Among the main exporting countries, South Korea, with a CAGR of +37.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average laser export price amounted to $309 per unit, with an increase of 49% against the previous year. Overall, export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +8.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, laser export price increased by +97.0% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($2,865 per unit), while China ($33 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+23.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform