Observation丨Situation and Forecast of Industrial Laser Market in India

It is estimated that the global laser market size exceeds 12 billion US dollars, with an average annual growth rate of about 11.6% over the next five years, reaching 21 billion US dollars, equivalent to over 140 billion RMB. The laser market share in India accounts for about 5%, and it is a key focus in terms of total scale and growth contribution. Taking laser cutting as an example, the Indian market has grown nearly tenfold since 2012, from 50 units per year to 500 units per year.

Laser Cutting Dominates the Indian Laser Market

From the current number of machines sold in the Indian market, laser marking machines account for the highest proportion; However, from a revenue perspective, laser cutting machines are the main contributors. Laser cutting is still the largest laser market in India, and it seems that this market will continue to grow for at least a few years. This is mainly due to the decrease in laser cutting machine prices and government policies in some industries, especially in the infrastructure and automotive industries. Most of the laser processing equipment in the Indian market is imported from China.

An important change in the Indian laser market is that manufacturing these laser cutting equipment locally in India is ushering in an increasingly promising development trend. However, for local Indian manufacturers who are unable to conduct mass production, the challenge they face is how to achieve price parity with Chinese machines. This is because the number of machines produced in China is many times higher than the number of machines that can be consumed in the Indian market.

The Automotive Industry Drives the Growth of Laser Processing Demand In India

The growth of the automotive industry is the main driving force for laser cutting and laser welding. The automotive industry contributes 49% of India's manufacturing gross domestic product (GDP) and 7.1% of India's overall GDP market share. Data shows that the market size of the Indian automotive industry (including component manufacturing) is expected to reach $251.4-282.8 billion by 2026.

Because the demand for automobile safety is growing, it leads to the requirement of using Thermoforming parts in automobile manufacturing. This has brought great opportunities for laser cutting of Thermoforming parts, which is also a major change in the laser industry. In addition, with the active planning of electric vehicle manufacturing in India, the development momentum of electric vehicles in India is getting better and better. Electric vehicles are also a key market, which will become a major contributor to the growth in demand for lasers and various laser processing.

The Future of The Indian Laser Market

Cutting still dominates the Indian laser market, and as the cutting market shifts towards higher power fiber cutting, cutting will become a major contributor to the Indian laser market in the coming years. However, with the opening up of new market areas such as electric vehicles, additive manufacturing, solar energy, defense, and infrastructure in India, the prospects for the Indian industrial laser market are bright.

About HGTECH

HGTECH is the pioneer and leader of laser industrial application in China, and the authoritative provider of global laser processing solutions. We comprehensively layout the construction of laser intelligent equipment, measurement and automation production lines, and smart factories to provide an overall solution for intelligent manufacturing.

We deeply grasp the development trend of manufacturing industry, constantly enrich products and solutions, adhere to exploring the integration of automation, informatization, intelligence and manufacturing industry, and provide various industries with laser cutting systems, laser welding systems, laser marking series, laser texturing complete equipment, laser heat treatment systems, laser drilling machines, lasers and various supporting devices The overall plan for the construction of special laser processing equipment and plasma cutting equipment, as well as automatic production lines and smart factories.