The global Laser Welding Equipment Market is expected to grow by US$ 373 million by 2025, at a CAGR of 4.8% between 2022 and 2032. Laser beams are becoming more widely used and “commonplace” as laser technology advances. Laser welding can be used to join many different materials.
Laser welding equipment requires materials with a high melting point and heat conductivity. The method is useful for joining pieces quickly and with minimal thermal distortion. Laser welding is frequently used in one-of-a-kind applications where no other welding technique will suffice.
Key growth industries such as photovoltaics, entertainment electronics, and medical device technologies are interested in the product. The ongoing increase in photovoltaic demand and production is a major contributor to the growth of
The extensive use of laser welding equipment in various end-user categories is projected to drive the worldwide laser welding equipment market. The expanding market has been undergoing a period of rising acceptance by many new laser clients. The global laser welding equipment market is growing in three ways: existing users increasing their use of laser welding equipment for explicit applications; development of new technologies for new applications; and development of new applications for existing technologies.
Heavy industries, such as the wind industry, have recently increased their use of laser welding technology to ensure cheaper offshore wind energy costs. Manufacturers of laser welding equipment are increasingly focusing on wind turbine towers and substructures.
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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.
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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The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
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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Key Segments
By Technology:
- Fibre Laser Welding Machine
- Co? Laser Welding Machine
- Solid-State Laser Welding Machine
By Application:
- Medical
- Electronics
- Jewellery industry
- Automotive
- Tool and Mould-making
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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