Core Insights - The "2025 China Laser Industry Development Report" highlights the current state and future outlook of the laser industry in China, indicating a significant decline in market performance and increased competition [1][5] Market Overview - The global laser equipment market is projected to reach $21.8 billion in sales revenue by 2024, with China's laser equipment market size at 89.7 billion yuan, accounting for 56.6% of the global market, but showing a year-on-year decline of 1.4% [1] - The laser cutting equipment market, particularly in sectors like engineering machinery and steel structures, is experiencing a downturn due to the real estate market's decline, with a projected sales revenue of 30.43 billion yuan in 2024, down 5.1% year-on-year [1] Industry Challenges - The laser cutting equipment sector is facing severe product homogenization and intense competition in the low-end market, with most companies focusing on general-purpose equipment and similar technology routes [1][5] - The number of new laser enterprises in 2024 has significantly decreased by 47.24% year-on-year, indicating accelerated market consolidation [5] Competitive Landscape - The market for laser cutting equipment is divided into sheet metal laser cutting and precision laser cutting, with the latter showing significant growth potential despite its smaller current size [5] - The top ten companies hold over 50% of the market share, with Bond Laser leading at a 10.3% market share, attributed to its focus on self-research and product innovation [5] Future Outlook - The Chinese laser industry is entering a deep adjustment phase, with traditional industrial market demand shrinking and competition intensifying, although some recovery is noted in consumer electronics [5] - For future growth, Chinese laser companies must move away from low-end competition and focus on high-value-added sectors through technological advancements and global operations [5]