Europe Laser Diode Market Revenue to cross US$ 4,391.62 million by 2030

At 12.3% CAGR, Europe Laser Diode Market is Speculated to be Worth US$ 4,391.62 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe laser diode market was valued at US$ 1,738.37 million in 2022 and is expected to reach US$ 4,391.62 million by 2030, registering a CAGR of 12.3% from 2022 to 2030. Growing telecommunication industry and rise in adoption of VCSEL for 3D sensing applications are among the critical factors attributed to the Europe laser diode market expansion.

There is a rise in demand from consumers for high-speed internet and better connectivity of devices. Small and large-sized businesses are digitalizing their operations to increase output and simplify their processes and workflow. Due to the rise in demand for better connectivity, governments of several countries are investing in strengthening their telecom sector. Thus, such a rise in telecom industry demands the use of fiber optics cables for optical communications. A laser diode can provide excellent output power stability, along with constant wavelength, which fuels its demand in the telecommunication industry. Therefore, the growth in the telecommunication industry is likely to create growth opportunities for the laser diode market in the coming years.

On the contrary, stringent government standards to use laser-based products hurdle the growth of Europe laser diode market.

Based on doping material , the Europe laser diode market is categorized into AlGaInP, GaAlAs, GaN, InGaN, and others . The AlGaInP segment held 34.2% market share in 2022, amassing US$ 595.39 million. It is projected to garner US$ 1,563.51 million by 2030 to expand at 12.8% CAGR during 2022-2030.

Based on wavelength , the Europe laser diode market is categorized into infrared laser diode, red laser diode, blue laser diode, blue-violet laser diode, and others. The infrared laser diode segment held 37.1% share of Europe laser diode market in 2022, amassing US$ 645.46 million. It is projected to garner US$ 1,735.96 million by 2030 to expand at 13.2% CAGR during 2022-2030.

Based on application, the Europe laser diode market is categorized into telecommunication, consumer electronics, healthcare & life sciences, automotive, military & defense, and others. The telecommunication segment held 30.2 % share of Europe laser diode market in 2022, amassing US$ 525.25 million. It is projected to garner US$ 1,466.10 million by 2030 to expand at 13.7% CAGR during 2022-2030.

By country, the Europe laser diode market has been segmented into Germany, the UK, France, Italy, Russia , and the Rest of Europe . Our regional analysis states that Germany captured 31.1% share of Europe laser diode market in 2022. It was assessed at US$ 540.11 million in 2022 and is likely to hit US$ 1,489.63 million by 2030, exhibiting a CAGR of 13.5% during 2022-2030.

Key players operating in the Europe laser diode market are ams -ORSAM AG, Coherent Corp, IPG Photonics Corp, Jeptonik AG, Mitsubishi Electric Corp, Sharp Corp, Sumitomo Electric Industries Ltd, and TRUMPH SE + CO KG, among others.