The Laser Welding Machine Market is projected to reach a market size value of USD xx million at a CAGR of 5% during the forecast period.
A laser welding machine uses a laser beam technology that enables the welder to connect pieces of thermoplastics or metals through a concentrated heat permitting for a narrower, deeper welds with high welding rates. The joining process is more efficient as it is a time efficient welding at almost 200 inches (508 cm) per minute. Additionally, laser welding machines can weld materials such as aluminum, stainless steel, high-strength steel, carbon steel, as well as precious metals which makes it an overall useful tool in producing large volume of products in just a short period of time. Overtime, the medical industry is slowly adopting the use of laser welding machines in medical devices manufacturing.
Growth drivers of this market include, the rising thermal stability of laser welding machines, ability to cut down scraps from elements and materials, aids in the elimination of chemical additives and glue, the increasing application of laser welding machines in several industries such as, automotive, medical, electronics and jewelry, and the technological advancements causing the high demand for product innovations.
COVID-19 Impact on the Laser Welding Machine Market
The challenge lies in the disruption in raw materials supply because it is negatively affecting manufacturers since travel, transport of raw materials, and non-essential trade have been put off in many countries. This in turn affected production, causing a fewer volume of product sales. Laser welding machine suppliers have also experienced backlash because imports and exports in almost all countries have been restricted, if not limited. Availability of labor became a problem too since shutdowns of facilities and operations halted the production of raw materials for equipment used in making laser welding machine.
Controlling the widespread of the virus is a great challenge to almost all of the countries because many sectors will have to compromise and deal with the negative impact on their sales. Many industries will have to adapt and adopt to the changes that will be imposed upon them by their governments. A massive setback on the growth of the market is the disruption of the supply chain since manufacturing and distribution by key players or companies are being limited, if not, controlled by governments by imposing lock downs and halting travels across borders. Ultimately, the pandemic caused limitations when it comes to man power and rendering of labor services because social distancing is mandatory and viral transmission should be prevented. Man power is an essential factor in the propelling of the market’s growth because manufacturing facilities, and conducting the actual trials and tests for laser welding machines cannot function when there’s limited people resources.
Factory shutdowns are also one of the main reasons for restraint in the growth of the market because the stoppage of production and manufacturing caused turmoil in terms of return of investments made by key players. The effect of the virus outbreak has caused a slow down in the investments made in the market.
Key Findings in the Laser Welding Machine Market
In terms of type, the fiber laser welding machine segment is expected to grow at a rapid CAGR. This is due to fiber laser’s efficiency in giving off light on the exact target spot of a material; this type of laser does not need any other costly components or optical mirrors to function. In terms of application, the market is segmented into, Medical, Electronics, Jewelry Industry, Automotive, Tool and Mold-Making and Others.
Regional Market Analysis
In terms of regional segmentation, the laser welding machine is divided into, North America, Latin America, Europe, Middle East and Africa, and Asia Pacific. Europe on the other hand, dominates the market having the largest overall share accounted for in the market in 2020. This growth is mainly attributed to factors such as the continuous technological advancements and product innovations, increasing application of laser welding machines in several industries, and the emergence of infrastructure development projects in Europe.
Based on an extensive assessment, these major key players in the laser welding machine market have a competitive landscape and utilizing key strategic developments to lead the industry over the past years until now. These companies are, Emerson, IPG Photonics, OR Lasertechnologie, Trumpf, Amada Miyachi, Cmf, Emag, Fanuc Robotics, Golden Laser, Gsi Group, Jenoptik, Lasag, Laserline, Laserstar Technologies, Mecasonic, Perfect Laser, Precitec, Coherent-Rofin, Sigma Laser, SLTL, Spi Lasers, Wuhan Tianqi Laser Equipment Manufacturing
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
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• Competition analysis/market share
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Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2021 - 2028)
• Fiber laser welding machine
• CO2 laser welding machine
• Solid-state laser welding machine
Application Analysis (Revenue, USD Million, 2021 - 2028)
• Jewelry Industry
• Tool and Mold-Making
Region Analysis (Revenue, USD Million, 2020 – 2028)
• United States
• United Kingdom
• South Korea
• Saudi Arabia
• Rest of World
• United States Industry Research Report
• Europe Industry Research Report
• Asia Pacific Industry Research Report
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