What is the estimated capacity of EV capacity in 2022 if global GDP growth rate is sustained at 5% for the next three years
ear now that we've been implementing this more disciplined approach.
Michael Feniger -- Bank of America -- Analyst
Got it. And I recognize that there's some -- the comps in China in the second half and that seasonality conversation is kind of difficult. If we just fast forward to 2022, if we're looking at a GDP of 5%, like global GDP, like how do you -- does IPG growth profile look in that backdrop? Is there going to be a potentially different mix of geography, new products, end markets as you're starting to see some of the secular discussions around energy efficiency and electrification start to evolve and pick up more steam?
Timothy P.V. Mammen -- Senior Vice President and Chief Financial Officer
I think, I mean if you got GDP growth rates that's sustained on a global basis of 5%, you'll see the overall laser market grow at a very significant premium to that. We'd expect to continue to execute very well, for example, in the laser welding applications, which we think would be a very strong growth area, potentially see some continued growth, obviously, in EV sales, like overall EV capacity over the next three or plus -- 3-plus years is estimated to triple. I think it's about 500 megawatts of capacity installed now. That's expected to get to $1.4 trillion -- 1.4 terawatts.
So that will be a core driver. And then you've got all of our new applications, right? So you've got the medical applications. You've got some of the solar cell applications. So if GDP holds up and PMIs remain strong, that will be a complement to our business and the new product growth will add an additional layer of growth on top of that. I'd certainly be very pleased to see global GDP transition into a 5% growth rate next year.
Operator
[Operator Instructions] Our next question comes from Paretosh Misra with Berenberg. Please proceed with your question.
Paretosh Misra -- Berenberg -- Analyst
Thank you and good morning. And congrats to Valentin and Eugene for the phases in their career. First, a question on the chip shortage issue in the automotive business. Were you impacted by that much in Q1? And is your automotive business, what's the geographic exposure there? Is China the biggest piece there? Or the rest of the world is bigger?
Eugene Scherbakov Ph.D. -- Chief Operating Officer, Managing Director of IPG Laser GmbH, Senior Vice President, Europe and Dire
First of all, we don't have any problem with -- now with such kind of chips because they're leaving deals and don't use in our products such kind of chip. The second, no, our big activity not in China, automotive, it's rest of the world, first of all, Germany, of course, and United States also.
Paretosh Misra -- Berenberg -- Analyst
Got it. And then just want to come back on the -- some of the -- your comments on the welding market. For the electric vehicle battery welding, what are the most important products? Is it the CW-type products or maybe the QCW is the most important product that you're selling for that end market?
Eugene Scherbakov Ph.D. -- Chief Operating Officer, Managing Director of IPG Laser GmbH, Senior Vice President, Europe and Dire
Of course, we have to ask our customers. But our opinion, it's important all CW and also pulsed -- because of the different kind of applications, not the same processes, which we are making this CW and pulsed lasers. For example, CW is usually used for welding applications, welding cars and welding some parts of the battery. Pulsed laser, as usual, they're used for cleaning and for cut foil -- cutting foil or is used for producing this battery, different applications and, of course, important, also welding and cutting and cleaning.
Valentin P. Gapontsev -- Chief Executive Officer and Chairman of the Board
Pulsed laser for welding also, especially is battery contacts, it's very important, the most critical, sensitive. And with the -- we have two machines, the two different kinds of machine and now going to -- more and more customer looking at buying this machine from us.
And regarding this Genesis, I have to add that we developed robotics, this year int
ear now that we've been implementing this more disciplined approach.
Michael Feniger -- Bank of America -- Analyst
Got it. And I recognize that there's some -- the comps in China in the second half and that seasonality conversation is kind of difficult. If we just fast forward to 2022, if we're looking at a GDP of 5%, like global GDP, like how do you -- does IPG growth profile look in that backdrop? Is there going to be a potentially different mix of geography, new products, end markets as you're starting to see some of the secular discussions around energy efficiency and electrification start to evolve and pick up more steam?
Timothy P.V. Mammen -- Senior Vice President and Chief Financial Officer
I think, I mean if you got GDP growth rates that's sustained on a global basis of 5%, you'll see the overall laser market grow at a very significant premium to that. We'd expect to continue to execute very well, for example, in the laser welding applications, which we think would be a very strong growth area, potentially see some continued growth, obviously, in EV sales, like overall EV capacity over the next three or plus -- 3-plus years is estimated to triple. I think it's about 500 megawatts of capacity installed now. That's expected to get to $1.4 trillion -- 1.4 terawatts.
So that will be a core driver. And then you've got all of our new applications, right? So you've got the medical applications. You've got some of the solar cell applications. So if GDP holds up and PMIs remain strong, that will be a complement to our business and the new product growth will add an additional layer of growth on top of that. I'd certainly be very pleased to see global GDP transition into a 5% growth rate next year.
Operator
[Operator Instructions] Our next question comes from Paretosh Misra with Berenberg. Please proceed with your question.
Paretosh Misra -- Berenberg -- Analyst
Thank you and good morning. And congrats to Valentin and Eugene for the phases in their career. First, a question on the chip shortage issue in the automotive business. Were you impacted by that much in Q1? And is your automotive business, what's the geographic exposure there? Is China the biggest piece there? Or the rest of the world is bigger?
 Eugene Scherbakov Ph.D. -- Chief Operating Officer, Managing Director of IPG Laser GmbH, Senior Vice President, Europe and Dire
First of all, we don't have any problem with -- now with such kind of chips because they're leaving deals and don't use in our products such kind of chip. The second, no, our big activity not in China, automotive, it's rest of the world, first of all, Germany, of course, and United States also.
Paretosh Misra -- Berenberg -- Analyst
Got it. And then just want to come back on the -- some of the -- your comments on the welding market. For the electric vehicle battery welding, what are the most important products? Is it the CW-type products or maybe the QCW is the most important product that you're selling for that end market?
Eugene Scherbakov Ph.D. -- Chief Operating Officer, Managing Director of IPG Laser GmbH, Senior Vice President, Europe and Dire
Of course, we have to ask our customers. But our opinion, it's important all CW and also pulsed -- because of the different kind of applications, not the same processes, which we are making this CW and pulsed lasers. For example, CW is usually used for welding applications, welding cars and welding some parts of the battery. Pulsed laser, as usual, they're used for cleaning and for cut foil -- cutting foil or is used for producing this battery, different applications and, of course, important, also welding and cutting and cleaning.
Valentin P. Gapontsev -- Chief Executive Officer and Chairman of the Board
Pulsed laser for welding also, especially is battery contacts, it's very important, the most critical, sensitive. And with the -- we have two machines, the two different kinds of machine and now going to -- more and more customer looking at buying this machine from us.
And regarding this Genesis, I have to add that we developed robotics, this year int