Open AccessEconomic Downturn Hits Laser Market at Record High
Author(s) -
Mayer Arnold
Publication year - 2009
Publication title -
laser technik journal
Language(s) - English
Resource type - Journals
eISSN - 1863-9119
pISSN - 1613-7728
DOI - 10.1002/latj.200990047
Subject(s) - quarter (canadian coin) , recession , business , financial crisis , economics , geography , macroeconomics , archaeology
The world market for laser materials processing systems grew by 1 % in 2008 and reached a new all time high of 6.4 billion Euro. The increase was due to a strong first half of the year, which overcompensated a decrease in the second half. The economic downturn in the wake of the financial crisis started to impact orders for laser systems in spring 2008, and hit sales in the third and fourth quarter. The decrease of sales continued in the first quarter of 2009. Based on the data for the first quarter, the 2009 the market is expected to be substantially below its 2008 level.