U.S. leads the world in industrial laser revenues
Total industrial laser-related revenues in 2017 approached $6.4 billion.
An analysis of where industrial laser revenues flow, prepared by Laser Markets Research and published in theLaser Technik Journal, indicates (surprisingly) that North America, mainly the United States, ranks first at more than 43% of the sales revenues, with Asia and Europe equally splitting the remaining difference. In 2017, this was a direct result of two members of what I call the Billion Dollar Club—IPG Photonics and Coherent—who between them generated 50% of the industrial laser revenues in 2017. Han's Laser in China and TRUMPF GmbH headquartered in Germany comprise the other two members of the Club. Total industrial laser-related revenues in 2017 approached $6.4 billion.
Published reports on the 2017 global market for lasers used in industrial materials processing typically rank the United States at 23% of the 2017 installations—behind Asia (primarily China) and Europe, who together share 76% of the consumption of these products. However, as outlined in a presentation made at this year's International Laser Technology Congress (AKL '18), I point out the opposite is quite different when we look at the revenue source of the industrial lasers used in these processing systems.
Another interesting fact presented in my article is the 14.85% compound annual growth rate (CAGR) for industrial laser revenues since the end of the great recession of 2008-2009, which as a result produced more than 250% growth in that period.
Readers are encouraged to download the referenced article and read my annual report on the industrial laser market to gain a perspective on why 2017 was a great year for this dynamic technology.