Explaining the Laser Market’s Long-Term Growth

Tom Hausken

Though the dependence on capital spending creates a cyclical business, a continual stream of new applications helps to keep laser sales growing.

figureEven in a capital-equipment-driven market like the laser business, new applications can combine to produce organic growth—often with an “early peak.”

Lasers are mostly used in capital equipment, but customers purchase capital equipment infrequently and with careful consideration. Without recurring sales of consumables or service contracts, laser suppliers may be left with a challenging, cyclical business. Yet laser sales have grown steadily over decades; the laser market has expanded at a 4.4 percent compound annual rate (adjusted for inflation) since 2002, and at a 9.5 percent rate over the history of laser sales. Why?

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