Laser Cutting Tools for Flexible AMOLEDs Market Size Forecast to Reach $1.8 Billion by 2026
Rising Demand by Automotive Industry Is Majorly Driving the Growth of Laser Cutting Tools for Flexible AMOLEDs Market.
The Global Market for Laser Cutting Tools for Flexible AMOLEDs is forecast to reach $1.8 billion by 2026, growing at a CAGR of 4.2% from 2021 to 2026. Higher performance in high temperature barrier films for AMOLEDs along with rising demands from automotive, aerospace and defense industries are the major driving factors propelling the market demands for micro machining laser cutting tools market. Moreover, rising use in demanding applications such as smartphones, smart wearable and many others are also helping in fuelling. In 2019, Samsung Electronics has decided to adopt a CSoT flexible OLED panel for its upcoming budget Galaxy M41 smartphone. Similarly, several other companies have been adopting flexible AMOLEDs in the forecast period which further enhance the market growth in the forecast period 2021-2026.
Laser Cutting Tools for Flexible AMOLEDs Market Segment Analysis - By Type of Laser
Based on laser type, ultra short pulse lasers are expected to grow at a CAGR of 6.4% in the forecast period. Adoption of ultra-pulse lasers are growing as its operation under high repetition rates helps in improving throughput along with quality. This causes its high usage in composition process for complex OLED display structures. Ultra pulse lasers provides features like enhanced accuracy, high process precision and many others which contributes towards its high growth in the market.
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Laser Cutting Tools for Flexible AMOLEDs Market Segment Analysis - By Industry Vertical
Automotive sector is growing at a CAGR of 6.9% in the forecast period. Laser cutting tools for Flexible AMOLEDs in automotive manufacture is used to ensure the end product is reliable and safe. Rapid adoption of OLED panels, along with the advent of autonomous cars, electric cars and augmented reality, will enhance the market for laser cutting tool in the forecast period. Moreover companies and governments of several countries are planning to invest heavily for production of autonomous cars. In 2020, General Motors has committed to invest $3 billion to build electric and autonomous vehicles. In 2019, Germany Government has announced investment of $58 billion for the research and development activities in autonomous, electric and hybrid cars.
Laser Cutting Tools for Flexible AMOLEDs Market Segment Analysis - By Geography
APAC dominated global Laser cutting tools for flexible AMOLEDs with the market share of 35% in 2019. Rising technological advancements and growing automotive industries are acting as major drivers for the growth of laser cutting tools for flexible AMOLEDs market. The increasing adoption of laser systems in the manufacturing sector is boosting the regional growth. Moreover industries that use laser cutting to produce semiconductors, consumer electronics, and automotive components in this region have been expanding their presence in this region. As these sectors are expanding, the need for laser cutting machines in this region. In 2020, Samsung has announced to expand its smart phone display manufacturing unit in India with an investment more than $500 million. Similarly governments of several countries have been supporting growth of these industries. As Laser cutting tools for flexible AMOLEDs are used for cutting applications.
Laser Cutting Tools for Flexible AMOLEDs Market Drivers
Improved performance of Laser cutting tools
High cutting performance of these tools is acting as a major driver towards the market growth of laser cutting tools creating deployments across various industry verticals. Higher precision levels and edge quality can be achieved easily with the help of laser cutting tools unlike the traditional ones. Their capability of cutting precise complex structures at high speeds are causing high demands for laser cutting tools for flexible AMOLEDs as it improves flexibility. These tools offer repeatable use due to its low wear and tear, thus making it highly economical. This ultimately helps in providing optimized performance as it leads to increased productivity, thus causing major demands by various demanding sectors.
Increasing demand from automotive sector
Rising demand by automotive industry is acting as a major driver towards the growth of laser cutting tools for flexible AMOLEDs market. Since designing of automobile parts and components is a complicated process, laser cutting tools are increasingly adopted by the manufacturers. Moreover, usage of laser cutting tools are growing in the automotive sector due to its capability of cutting smooth and highly precised crucial parts along with lowering the manpower demand, thus allowing the companies to save costs. These tools help the automobile manufacturers in melting the edges more quickly, thus acting as a reliable and efficient tool for automobile industry.
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Laser Cutting Tools for Flexible AMOLEDs Market Landscape
Laser Cutting Tools for Flexible AMOLEDs top 10 companies include Bystronic, Coherent, IPG Photonics, Mazak Optonics, TRUMPF, Epilog Laser Inc., Amada Miyachi Company Ltd., Newport Corporation, Jenoptik AG, Alltec GmbH among others.
Increasing demand from automotive sector along with performance improvements are acting as major drivers in the growth of laser cutting tools for flexible AMOLEDs market.
Ultra short pulse lasers are expected to grow at a CAGR of 6.4%, owing to the adoption of ultra-pulse lasers for the operation under high repetition rates helps in improving throughput along with quality.
Automotive sector is growing at a CAGR of 6.9% in the forecast period owing to rapid adoption of OLED panels, along with the advent of autonomous cars, electric cars.
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