The global laser welding equipment market is projected to grow from USD 2,899.1 million in 2024 to USD 5,070.6 million by 2034, reflecting a robust CAGR of 5.7% over the assessment period.
Key drivers of this growth include the automotive and construction industries. The adoption of laser welding in automotive manufacturing has surged in recent years, particularly for components such as engine parts, transmission parts, alternators, solenoids, fuel injectors, and fuel filters. Similarly, the construction industry’s increasing demand for fabricated steel structures, coupled with the adoption of advanced construction techniques and a focus on sustainability and energy efficiency, is further fueling the need for laser welding equipment.
The laser welding equipment market is witnessing significant growth, driven by the rapid expansion of the automotive and construction sectors. As these industries continue to grow, the demand for advanced manufacturing technologies rises, positioning laser welding equipment as a crucial solution for evolving industry requirements. Additionally, there has been a marked trend toward the adoption of fiber laser technology, known for its high efficiency and reliability, making it a preferred option in modern manufacturing processes.
Emerging industries present substantial opportunities for the laser welding equipment market. The rise of new sectors such as electric vehicle manufacturing, renewable energy, and electronics opens avenues for the versatile application of laser welding technology. These industries, which demand cutting-edge welding solutions, create an ideal environment for leveraging the advanced capabilities of laser welding equipment.Bottom of Form
Key Takeaways from the Report
- The global market for laser welding equipment is projected to thrive at 5.7% CAGR through 2034.
- By fiber laser, the technology segment is expected to have a total valuation of US$ 2,091.2 million by 2034.
- By end use, the automotive segment is set to hold a market share of 31.7% in 2024.
- East Asia is expected to account for a significant share of about 31.8% by 2034.
- The market size in the United States is anticipated to reach US$ 516.6 million by 2034.
- China is projected to attain a valuation of US$ 514.9 million by 2034.
- Demand for laser welding equipment in India is predicted to rise at 6.4% CAGR through 2034.
Competitive Landscape
Key players are investing in the expansion of domestic production and technology areas of laser welding equipment to provide cost-efficient solutions to consumers. They are also investing in developing new products and further innovation on the existing ones to meet end-user demand.
- In October 2022, Coherent Corp., a key provider of laser processing services, launched its next-generation flat sheet cutting laser head with significant power ratings that reach up to 30 kW.
- In November 2021, TRUMPF launched an inventive product called TruLaser Weld 1000. It helps small-sized companies shift to automated laser welding, which is appropriate for electrical cabinets, covers, and welding sheet metal boxes.
Top 10 Key Players in the Laser Welding Equipment Market
- IPG Photonics Corp.
- TRUMPF Group
- AMADA Co. Ltd.
- EMAG Group
- Han’s Laser Technology Industry Group Co. Ltd.
- Coherent Corp.
- Panasonic Holdings Corp.
- Huagong Tech Co. Ltd.
- United Winners Laser Co., Ltd.
- HSG Laser
Laser Welding Equipment Market Segmentation
By Technology:
- Solid State Laser
- Gas Laser
- Fiber Laser
- Diode Laser
By Operation:
- Manual
- Semi-Automatic
- Automatic
By Function:
- Spot and Seam Welding
- Deposition Welding
- Profile Welding
- Scanner Welding
- Hybrid Welding
- Other Functions
By End Use:
- Automotive
- Electronics
- Healthcare
- Construction
- Oil and Gas
- Industrial Fabrication and Engineering
- Jewelry Industry
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia and the Pacific
- The Middle East and Africa
Report Preview: https://www.futuremarketinsights.com/reports/laser-welding-equipment-market
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