Open AccessStrong market growth in 2004 – World market for laser systems narrowly misses the record high of 2000
Author(s) -
Mayer Arnold
Publication year - 2005
Publication title -
laser technik journal
Language(s) - English
Resource type - Journals
eISSN - 1863-9119
pISSN - 1613-7728
DOI - 10.1002/latj.200790032
Subject(s) - liberian dollar , fell , economics , value (mathematics) , meaning (existential) , monetary economics , business , geography , finance , mathematics , philosophy , statistics , cartography , epistemology
In 2004, the world market volume of laser machining systems reached 4.65 billion euro, a 27% increase over the previous year's level of 3.65 billion euro and within a few percent of the record 4.75 billion euro achieved in 2000 (Fig. 1). What makes this result more surprising is that between 2000 and 2004, the value of a US dollar fell from an average of 1.08 euro to 0.81 euro; meaning that, from a US dollar standpoint, 2004 actually surpassed the 2000 level.