Visible and UV Laser Diode Global Market Opportunities and Strategies to 2033

This report describes and explains the visible and UV laser diode market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global visible and UV laser diode market reached a value of nearly $3.32 billion in 2023, having grown at a compound annual growth rate (CAGR) of 3.4% since 2018. The market is expected to grow from $3.32 billion in 2023 to $4.49 billion in 2028 at a rate of 6.2%. The market is then expected to grow at a CAGR of 6.7% from 2028 and reach $6.23 billion in 2033.

Growth in the historic period resulted the rising adoption across the automotive sector, increased investment in R&D (research and development) activities, strong economic growth in emerging markets and increasing spending on military equipment. Factors that negatively affected growth in the historic period was high production cost.

Going forward, the increasing demand for consumer electronics, growth of the semiconductor manufacturing sector, rising government investments in defense and rising government support for healthcare industry will drive the growth. Factor that could hinder the growth of the visible and UV laser diode market in the future include safety concerns and regulations.

The visible and UV laser diode market is segmented by product into single mode and multi-mode. The multi-mode market was the largest segment of the visible and UV laser diode market segmented by product, accounting for 59.9% or $1.99 billion of the total in 2023. Going forward, the single mode segment is expected to be the fastest growing segment in the visible and UV laser diode market segmented by product, at a CAGR of 7% during 2023-2028.

The visible and UV laser diode market is segmented by doping material into doping material into AlGaInP, GaN and InGaN. The AlGaInP market was the largest segment of the visible and UV laser diode market segmented by doping material, accounting for 60.1% or $1.99 billion of the total in 2023. Going forward, the AlGaInP segment is expected to be the fastest growing segment in the visible and UV laser diode market segmented by doping material, at a CAGR of 6.4% during 2023-2028.

The visible and UV laser diode market is segmented by application into industrial, defense, scientific and medical and other applications. The industrial market was the largest segment of the visible and UV laser diode market segmented by application, accounting for 44.8% or $1.49 billion of the total in 2023. Going forward, the scientific and medical segment is expected to be the fastest growing segment in the visible and UV laser diode market segmented by application, at a CAGR of 7.1% during 2023-2028.

North America was the largest region in the visible and UV laser diode market, accounting for 32.5% or $1.08 billion of the total in 2023. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the visible and UV laser diode market will be Asia-Pacific and North America where growth will be at CAGRs of 7.5% and 6.4% respectively. These will be followed by Western Europe and Eastern Europe where the markets are expected to grow at CAGRs of 5.8% and 5.1% respectively.

The global visible and UV laser diode market is concentrated, with a few large players operating in the market. The top ten competitors in the market made up to 42.1% of the total market in 2022. Coherent, Inc. was the largest competitor with a 14% share of the market, followed by TRUMPF Group with 10.7%, ams-OSRAM AG with 6%, MKS Instruments, Inc with 3.9%, Infineon Technologies AG with 3.2%, IPG Photonics with 2.6%, Ushio, Inc with 1.1%, Thorlabs, Inc with 0.3%, Nichia Corporation with 0.1% and Frankfurt Laser Company with 0.1%.

The top opportunities in the visible and UV laser diode market segmented by product will arise in the multi-mode segment, which will gain $632.2 million of global annual sales by 2028. The top opportunities in the visible and UV laser diode market segmented by doping material will arise in the AlGaInP segment, which will gain $731 million of global annual sales by 2028. The top opportunities in the visible and UV laser diode market segmented by application will arise in the industrial segment, which will gain $521.9 million of global annual sales by 2028. The visible and UV laser diode market size will gain the most in the USA at $368 million.

Market-trend-based strategies for the visible and UV laser diode market include launch of advanced lasers to meet demand for cost-effective, environmentally sustainable solutions in diverse industries, deep UV diode laser modules catering to a spectrum of applications from pathogen disinfection to semiconductor inspection, launch of high-performance UV laser modules and introduction of femtosecond laser systems to enhance precision, flexibility and efficiency for micromachining applications.

Player-adopted strategies in the visible and UV laser diode market include focus on expanding operational capabilities through new product developments, enhancing operational capabilities through new projects to improve their laser technology expertise, expanding business through new product launches, enhancing customers’ experience through the launch of new solutions and strengthening business operations through strategic partnerships.

To take advantage of the opportunities, the analyst recommends the visible and UV laser diode companies to focus on innovating products for high contrast marking, focus on specialized deep UV diode laser modules, focus on innovative UV laser module launches, focus on expanding opportunities in the single-mode segment, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions and focus on accelerating growth in industrial and scientific/medical application segments.