The key driving factors for the global laser diode market includes advantages of laser diode over other technologies, growth in electronics and healthcare industries, government policies mandating the use of laser technology in the engraving and marking of products, and others. The laser diode market is fragmented with a large number of existing players dominating their respective regions globally. Market participants are seeking to gain increased market share through product differentiation. In addition, the key players in this market are constantly trying to reduce equipment cost in terms of manufacturing in order to escalate their profit margins and to integrate across the value chain to gain further profits. Recently, companies have been switching from gas lasers to ultrafast lasers since the consumers are seeking compact and sealed systems that are automated and computer-controlled. Thus, compact gas lasers such as air-cooled ion laser are expected to be phased out altogether in the near future. Thus, these sealed system lasers offer a reliable source of energy and are expected to replace the traditional laser systems.
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The key players influencing the market are:
ASML Holding N.V., Axcel Photonics, Inc., Coherent, Inc., IPG Photonics Corporation, Newport Corporation, Panasonic Semiconductor Solutions Co., Ltd., Rofin-Sinar Technologies Inc., Sharp Corporation, Sumitomo Electric Industries, Ltd., and Trumpf GmbH + Co. KG.
LASER stands for Light Amplification by Stimulated Emission of Radiation. The laser diode is a p-i-n junction electrically pumped semiconductor diode. Its active region is located in the intrinsic region, and the carriers such as holes and electrons are pumped into the P and N regions respectively. Initially, laser diodes were made using p-n diodes; however, modern laser diodes utilize the double heterostructure implementation. The photons and carriers are confined to maximize the chances of recombination and generation of light. In order to produce light, all the carriers in the I region need to be recombined. Thus, these laser diodes are made using direct band gap semiconductors. Crystal growth technique is utilized in the growth of the laser diode epitaxial structure that is usually initiated from an N-doped cladding and contact layer. The active layer comprises quantum wells that offer low threshold current and greater efficacy.
Laser diode market is segmented based on application, i.e. automotive, consumer electronics, healthcare, military & defense, and other applications. Automotive segment holds the prominent market share during the forecast period. Laser diode-based headlamps require lesser power and have greater efficiency than LED headlamps. Laser diodes produce a more targeted light point, which increases visual safety while driving and they also limit the offensive glare that is experienced during the use of halogen-based lights. Laser diodes offer high beam lighting which has a greater reach and brings design flexibility due to its compact size. The automotive laser diode segment is analyzed to expand at a steady rate during the forecast period, especially in Europe and APAC region.
Key findings of the study:
Asia-Pacific is anticipated to account the high Y-o-Y growth during the forecast period of laser diode market and is expected to register a CAGR of 12%
Based on the application, the automotive segment is expected to dominate the market during the forecast period
Developing countries of Europe and Asia-Pacific are witnessing high demand for laser diode due to the increasing demand from the automotive sector.
Advancements in display technologies across the globe, particularly in developing economies of the Asia Pacific (APAC) region coupled with rapid growth in automotive and electronic manufacturing sectors across the region are propelling the global laser diode market. APAC is the fastest growing market for automotive manufacturing. Furthermore, industrial and automobile laser manufacturing is witnessing significant demand due to the fact that a number of manufacturers are looking forward to upgrading their equipment and there is tremendous demand among consumers for automobiles.
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