Pune, April 26, 2023 (GLOBE NEWSWIRE) -- As per SNS Insider's report, the Laser Welding Machine Market reached a valuation of USD 0.77 billion in 2022 and is anticipated to attain USD 1.11 billion by 2030, exhibiting a CAGR of 4.7% during the forecast period of 2023-2030.
Market Overview
Laser welding machines are advanced welding tools that use a high-powered laser beam to join materials together. They offer superior welding quality and precision compared to traditional welding techniques, making them popular in a variety of industries, including automotive, aerospace, electronics, and healthcare. These machines use a focused laser beam to melt and fuse the materials together, creating a strong and durable bond.
Market Analysis
The laser welding machine market is experiencing significant growth, driven by various factors such as the increasing demand for fabricated metal products, the development of heavy industrial equipment, advancements in manufacturing processes, and the adoption of the latest technologies. These factors have collectively led to an upsurge in the adoption of laser welding machines across various industries, including automotive, aerospace, electronics, and construction, among others. One of the primary drivers of the market is the growing demand for fabricated metal products.
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Key Company Profiles Listed in this Report 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 & Other
Laser Welding Machine Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 0.77 Billion |
| Market Size by 2030 | US$ 1.11 Billion |
| CAGR | CAGR of 4.7% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Laser Welding Machine Market: Key Segmentation | • 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) |
| Key Regional 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) |
Impact of Recession on Laser Welding Machine Industry
The impact of a recession on the laser welding machine market can be significant, as the demand for such machines is closely tied to the overall economic conditions. During a recession, many companies may face financial constraints and may need to cut back on their spending, including investments in new equipment such as laser welding machines. However, it is worth noting that the impact of a recession on the market can vary depending on the specific industry and region. For example, some industries may still require the precision and speed offered by laser welding machines, even during a recession, such as in the medical device industry.
Key Regional Developments
Laser welding technology has been widely adopted in developed regions such as North America and Europe, where it has become an essential tool for various applications. As a result, these regions are expected to play a significant role in driving the growth of the laser welding machine market, fueled by several factors such as the increasing trend of automation and the continuous advancements in welding technology. With the growing demand for automated and precise welding processes, laser welding has emerged as a popular choice due to its ability to deliver high-quality and efficient results.
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Key Takeaway from Laser Welding Machine Market Study
- The fiber laser welding machine segment is expected to dominate the market in the coming years. Fiber laser welding machines offer several advantages over traditional welding machines, including higher precision, faster welding speeds, and lower operating costs.
- The market for laser welding machines is expected to see significant growth in the coming years, with the automotive segment leading the way. Laser welding technology has gained popularity in the automotive industry due to its ability to provide strong and precise welds, leading to enhanced safety and durability of vehicles.
Recent Developments Related to Laser Welding Machine Market
- NLight, a leading manufacturer of fiber lasers, has recently made a strategic acquisition by purchasing Plasmo Industrietechnik. The acquisition will help NLight expand its offerings in the manufacturing solutions space by incorporating Plasmo's cutting-edge machine vision and analysis technologies. Plasmo is a well-known Austrian-based provider of automated quality assurance and diagnostic solutions for the welding and additive manufacturing industry.
- IPG Photonics, a leading manufacturer of high-performance fiber lasers and amplifiers, has recently launched its latest product, the LightWELD handheld laser welding system. This innovative system is designed to offer superior welding capabilities and improved efficiency, making it a valuable tool for a variety of industries.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Laser Welding Machine Market Segmentation, by Technology
9. Laser Welding Machine Market Segmentation, by End User
10. Regional Analysis
11. Company Profiles
12. Competitive Landscape
13. Conclusion
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