Laser Welding Machine Market size was valued at USD 0.96 Bn in 2023 and is expected to reach USD 1.39 Bn by 2031 and grow at a CAGR of 4.81% over the forecast period 2024-2031.
A laser welding machine uses a laser beam as a focused heat source to connect numerous pieces of various materials. Laser welding technology has advanced to the point that it now has a wide range of uses. Laser welding allows materials or components to be joined at high speeds with minimal thermal deformation. Different development industries, such as entertainment electronics, photovoltaics, and medical device technology, are progressively using laser welding machines.
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Laser welding machines are utilized in a variety of sectors, including automotive, medical, electronics, jewelry, and many more. Chemical additives and adhesives are no longer used in the welding process with this machine. The need for laser welding machines is likely to rise as automation in many industries becomes more prevalent. Due to its excellent productivity for welding automobile components at a cheap cost, laser welding machines are extensively sought in the automotive sector. Laser welding machines’ ability to weld various sorts of metals with great heat conductivity expands their usefulness even more.
MARKET DYNAMICS:
KEY DRIVERS:
It's used in a variety of industries.
high-speed welding with increased precision.
Different industrial sectors are becoming increasingly automated.
RESTRAINTS:
The high initial and maintenance cost.
A scarcity of qualified and knowledgeable workers.
OPPORTUNITY:
New product releases and R&D.
Demand for fabricated metal components and industrial equipment is increasing.
Technological advancement in laser welding techniques.
CHALLENGES:
The rapid rate of cooling causes cracks in some metal parts.
IMPACT OF COVID-19:
The global coronavirus epidemic has put significant strain on companies and industries. All governments have implemented a lock-up system to identify the spread of contagious illnesses. The impact of these laws on the worldwide welding industry has been unfavorable. The laser welding machine market was negatively affected by the coronavirus. The market would be harmed by restrictions on public transit and the disturbance produced by the lockdown. Due to the influence of Covid-19, most sectors are not working correctly, which has had a negative impact on the Global Laser Welding Machine Market.
MARKET ESTIMATION:
When compared to other welding equipment, fiber laser welding machines are far more sophisticated. In comparison to conventional welding equipment, these machines ensure high-speed welding and are simple to operate. Demand for fiber laser welding equipment is predicted to develop in the jewelry, electronics, automotive, aviation, and other sectors throughout the forecast period. These devices employ fiber optics to channel and magnify light, ensuring that light is delivered efficiently and effectively to the desired location. Because of its capacity to weld automobile parts with great precision, laser welding machines are quite popular in the automotive industry. Engine parts, gearbox parts, fuel filters, solenoids, and other items are all-welded using laser welding. Because laser welding is a cost-effective method for mass manufacturing, its use in the automobile sector is growing. Laser welding equipment is simple to automate, increasing its use in the automobile sector. Laser welding devices are projected to be in high demand as the automobile industry recovers thanks to technical innovation. Over the projected period, demand for quality fabricated components in the automotive industry is likely to fuel market expansion.
By Technology
Fiber Laser Welding Machine
Solid-State Laser Welding Machine
Co2 Laser Welding Machine
By End-user
Automotive
Electronics
Medical
Jewelry Industry
Tool and Mold-Making
Others
REGIONAL ANALYSIS:
In 2023, Europe held the greatest market share in the world market. The well-established automotive sector in nations such as Germany, Spain, and France, among others, is likely to drive regional market expansion. The market is being supported by technological improvement in the region. The Asia Pacific, on the other hand, is predicted to develop at the fastest rate, with a positive CAGR during the projection period. China is already the largest market for the automobile industry, and it is likely to drive regional market expansion.
Over the projection period, APAC's growing industrialization and a high number of manufacturing facilities are likely to boost market expansion. Increasing awareness and use of laser welding equipment in different industrial sectors are likely to further fuel market development during the forecast period. The heavy equipment industry's increasing need for fabricated metal components is likely to boost the market growth. During the projected period, increasing automation is likely to boost market growth. Over the projected period, the rising need for high productivity in welding operations is likely to drive the worldwide laser welding machine market.
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REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The major key players included are Emerson Electric Company, IPG Photonics, O.R. Lasertechnologie, TRUMPF Group, Amada Miyachi Co., Ltd, FANUC Robotics, Golden Laser, GSI Group, Inc., JENOPTIK AG., LaserStar Technologies Corporation.
IPG Photonics-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 0.96 Billion |
| Market Size by 2031 | US$ 1.39 Billion |
| CAGR | CAGR of 4.81 % From 2024 to 2031 |
| Base Year | 2022 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Technology (Fiber Laser Welding Machine, Solid-State Laser Welding Machine, Co2 Laser Welding Machine) • by End-user (Automotive, Electronics, Medical, Jewelry Industry, Tool, And Mold-Making, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Emerson Electric Company, IPG Photonics, O.R. Lasertechnologie, TRUMPF Group, Amada Miyachi Co., Ltd, FANUC Robotics, Golden Laser, GSI Group, Inc., JENOPTIK AG., LaserStar Technologies Corporation. |
| Key Drivers | •It's used in a variety of industries. •high-speed welding with increased precision. |
| Restraints | •The high initial and maintenance cost. •A scarcity of qualified and knowledgeable workers. |
Ans: - The Laser Welding Machine Market size is projected to reach USD 0.96 Bn in 2023.
Ans: The Laser Welding Machine Market is to grow at a CAGR of 4.81% From 2024 to 2031.
Ans: - The segments covered in the Laser Welding Machine Market report for study are on the basis of Technology and End-user.
Ans: - In 2023, Europe held the greatest market share in the world market.
Ans: - The primary growth tactics of Laser Welding Machine market participants include merger and acquisition, business expansion, and product launch.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Laser Welding Machine Market Segmentation, by Technology
8.1 Fiber Laser Welding Machine
8.2 Solid-State Laser Welding Machine
8.3 Co2 Laser Welding Machine
9. Laser Welding Machine Market Segmentation, by End User
9.1 Automotive
9.2 Electronics
9.3 Medical
9.4 Jewelry Industry
9.5 Tool and Mold-Making
9.6 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 USA
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4 Asia-Pacific
10.4.1 Japan
10.4.2 South Korea
10.4.3 China
10.4.4 India
10.4.5 Australia
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.1 Israel
10.5.2 UAE
10.5.3 South Africa
10.5.4 Rest
10.6 Latin America
10.6.1 Brazil
10.6.2 Argentina
10.6.3 Rest of Latin America
11. Company Profiles
11.1 Emerson Electric Company
11.1.1 Financial
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.2 IPG Photonics
11.3 O.R. Lasertechnologie
11.4 TRUMPF Group
11.5 Amada Miyachi Co., Ltd
11.6 FANUC Robotics
11.7 Golden Laser
11.8 GSI Group, Inc.
11.9 JENOPTIK AG.
11.10 LaserStar Technologies Corporation
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
13. Conclusion
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