Technavio, a tech-focused market research firm, has published a new report on the global laser filter protection market, which is expected to experience significant growth with a CAGR of close to 5% during the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of the global laser filter protection market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global laser filter protection market into the following key regions: Europe, North America, APAC, and ROW.
Geographical segmentation of the global laser filter protection market for 2015 (market share %)
|
Europe |
34.50% |
|
North America |
32.20% |
|
APAC |
24.12% |
|
ROW |
9.18% |
Source: Technavio
Europe: The largest revenue generating region for laser filter protection
Europe is one of the front-runners in manufacturing innovations, with 15% of its GDP being contributed by manufacturing industries. While Western Europe has been one of the major manufacturing hubs, Central and Eastern Europe is rapidly emerging as a center for manufacturing innovation and value-addition due to strong infrastructure, high-quality labor, and enhanced R&D support. Countries like Poland, Hungary, Romania, the Czech Republic, and Turkey are the growing hotspots for automotive manufacturing, high-end machine production, electronics manufacturing, food and beverage processing, and pharmaceutical production.
According to Abhay Sinha, a lead analyst at Technavio, “Ever since their invention, lasers have evolved in terms of wavelengths. This spurs the need for the development of new laser safety eyewear. Advanced types of lasers require special technologically-advanced laser safety eyewear to ensure protection from all wavelengths of laser. Manufacturers in the market are now developing new types of laser safety goggles that are more comfortable and aesthetically appealing.”
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Laser filter protection market in North America
The growth of the laser filter protection market in North America is fueled by the growing need to curb fatal work-related injuries. There is an upsurge in the demand for laser protective filter on the region owing to the increased use of laser products across manufacturing industries for the production of 3D printed metals, printed electronics, and others. Organizations such as OSHA, the Council of Radiation Control Program Directors, American National Standards Institute, and the Center for Devices and Radiological Health from the FDA have introduced laser safety regulations for employees in various industries. These regulations mandate the use of laser safety goggles with filters depending on the type of laser used. Such initiatives will propel the demand for laser filer protection equipment in this region during the forecast period.
Laser filer protection market in APAC
The market’s growth in APAC will be driven by the growth in the end-user industries, including manufacturing, healthcare, and others. With big companies such as HTC, Toshiba, GE, Siemens, and Boeing setting up manufacturing hubs in APAC countries, the demand for laser protection products in this region is growing. However, low awareness of workplace safety, especially in the unorganized sector in India can hamper the growth of the laser filter protection market in this region. Besides, the market in China is also undergoing slow growth due to the country’s economic slowdown and the subsequent slump in the manufacturing sector.
During the forecast period, the demand from Vietnam is expected to increase as many, companies are ready to invest in R&D and training, increasing the scope of new manufacturing industries in the region. The laser filter protection equipment market in APAC is anticipated to showcase growth at a CAGR of almost 6% between 2016 and 2020.
Laser filter protection market in ROW
The construction sector is one of the leading economic contributors and employment providers. The growth of the laser filter protection market in ROW will be influenced by the growth of the construction industry in South Africa, Kenya, Brazil, and Qatar. Majority of the demand for laser filter protection products is expected to come from Qatar owing to high investments made on the development of infrastructure to host the FIFA Soccer World Cup in 2022. The laser filer protection market in ROW is likely to showcase substantial growth during the forecast period by posting a CAGR of around 7%.
The top leading vendors operating in the global laser filter protection market are:
- Honeywell
- Philips Safety products
- uvex
Other prominent vendors in the market include Cambridge Lasers Laboratories, DiOptika, Global Laser Infield Safety, Innovative Optics, Kentek, Lasermet, Laser Safety Industries, NoIR Laser Company, Standa, SurgiTel, Thorlabs, Univet Optical Technologies, and VS Eyewear.
A more detailed analysis is available in the Technavio report tilted, ‘Global Laser Filter Protection Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Safety Apparel Market 2016-2020
- Global Safety Goggles and Glasses Market 2016-2020
- Global Industrial Safety Integrated Components Market 2016-2020
- Global Personal Protective Equipment Market 2016-2020
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