The laser welding equipment market is anticipated to grow by US$ 373 million by 2025, with a CAGR of 4.8% predicted for the forecast period of 2022 to 2032.
As a result of advances in laser technology, laser beams are now widely used and considered “commonplace”. Many different types of materials can be welded using the laser welding technique. Materials with a higher melting point and high heat conductivity are good candidates for laser welding equipment. The technique helps join parts that require high-speed welding and little thermal distortion. The process of laser weldings has the majority of its application in exotic applications where no other welding process would be suitable.
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The product is highly demanded by the essential growth sectors such as photovoltaic, entertainment electronics, medical device technology etc. The continued growth in the photovoltaic demand and succeeding its production are greatly responsible for the growth of the global laser welding equipment market. The equipment provides high precision, flexibility and productivity which allows mass production of innovative products.
The global laser welding equipment market is expected to grow due to the extensive usage of laser welding equipment in various end-user segments. The growing market has been experiencing a phase of emerging acceptance by many new customers that are new to the laser. The global laser welding equipment market is being expanded based on three-pronged areas including the already existing users that are increasing their use of laser welding equipment for explicit applications; the development of new technologies for new applications; and the development of new applications for existing technologies.
Recently heavy industries such as the wind industry has been increasing their usage of laser welding equipment so as ensure a lower cost of offshore wind energy. The wind turbine towers and substructures are becoming the prime focus points for laser welding equipment manufacturers.
Laser Welding Equipment Market: Drivers & Restraints
The global laser welding equipment market is expected to grow due to increasing demand from the automotive sector as well as the construction sector. The market augmentation is further supported by the emerging economies such as Asia pacific with high growth potential industries such as wind energy. The rising importance of wind energy is expected to promote the global laser welding equipment market.
The emergence of the new procedures and applications globally coupled with new technological development is further driving the growth of the global laser welding equipment market.
Conversely, the shortage of skilled labours in the industries of manufacturing is accepted to confine the market growth. It is also anticipated that a hefty initial price tag (that saves money over time) and high labour costs can pose a challenge for the growing market of laser welding equipment market.
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Laser Welding Equipment Market: Region-wise Outlook
The laser welding equipment market is expected to register favourable growth for the forecast period, 2015? 2025. The Asia Pacific is projected to endure control of the global laser welding equipment market. The factors contributing to the rising demand in APAC are growing awareness of laser welding technology and rising construction sector, automotive and transportation sector. Europe is expected to lose its share to emerging economies due to the shortage of raw materials and adverse effects of economic crisis on the end user industries. The North America and Rest of the world followed the European market.
Laser Welding Equipment Market: Key Players
The key players in the global laser welding equipment market are Lincoln Electric, ITW, Böhler, Panasonic and ESAB (Elektriska Svetsnings-Aktiebolaget)
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
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- Market Dynamics
- Market Size
- Supply & Demand
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Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC, S. Africa, N. Africa)
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Laser Welding Equipment Market: Segmentation
By application, the global laser welding equipment market is segmented as follows:
- Spot welding and seam welding
- Deposition welding
- Scanner welding
- Hybrid welding
- Deep penetration welding
- Heat conduction welding
- Soldering
- Laser welding of plastics
- Tube and Profile welding
By end use, the global laser welding equipment market is segmented as follows:
- Machine Tool Industry
- Medical Device Technology
- Plastic Processing
- Solar Industry (Photovoltaic)
- Electronics Industry
- Automotive Industry
- Semiconductor Industry
- Glass Industry
- Jewellery Industry
- Packaging Industry
- Plastic Processing
- Others
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Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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