PUBLISHER: The Business Research Company | PRODUCT CODE: 1414348
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414348
“Laser Welding Machine Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on laser welding machine market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for laser welding machine? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The laser welding machine market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
A laser welding machine is a type of welding equipment that utilizes a laser beam to join two or more pieces of metal or thermoplastics. The machine directs a high-powered laser beam at the welding site, heating and melting the material, allowing it to fuse together.
The primary types of laser welding machines are handheld laser welding machines and automated laser welding machines. A handheld laser welding machine is portable and can be operated manually, providing greater flexibility and ease of use. Various technologies are employed in laser welding machines, including fiber laser welding machines, CO2 laser welding machines, and solid-state laser welding machines. These machines find applications across various industries, including automotive, electronics, medical, jewelry, tool and mold-making, among others.
The laser welding machine market research report is one of a series of new reports from The Business Research Company that provides laser welding machine market statistics, including laser welding machine industry global market size, regional shares, competitors with a laser welding machine market share, detailed laser welding machine market segments, market trends and opportunities, and any further data you may need to thrive in the laser welding machine industry. This laser welding machine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The laser welding machine market size has grown steadily in recent years. It will grow from $1.32 billion in 2023 to $1.38 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The expansion observed in the historical period can be attributed to factors such as high heat resistance, applications in the automotive sector, the development of telecommunications infrastructure, overall industrial growth, chemical resistance, and advancements in manufacturing processes.
The laser welding machine market size is expected to see steady growth in the next few years. It will grow to $1.63 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The anticipated growth in the forecast period can be attributed to the increasing adoption of electric vehicles, a growing focus on sustainable materials, rising demand for consumer goods, applications in flexible electronics, opportunities in the aerospace sector, and the ongoing trend of global industrialization. Key trends expected in the forecast period include advances in biotechnology, innovations in manufacturing processes, technological advancements, collaborations and mergers within the industry, and the integration of smart packaging solutions.
The increasing demand for fabricated metal products is poised to drive the growth of the laser welding machine market in the foreseeable future. Fabricated metal products encompass a broad spectrum of metal structures, parts, and components manufactured through various fabrication processes, including cutting, bending, welding, and assembly. Laser welding machines play a crucial role in fabricating metal products, facilitating processes such as the joining of thin metal sheets with minimal heat input and the bonding of dissimilar metals. In April 2023, Eurostat reported that the manufacturing of fabricated metal products and basic metals constituted 23% of the value of sold production in Italy in 2021, with Bulgaria, Greece, Austria, Finland, and Slovenia following closely. The substantial demand for fabricated metal products is thus propelling the growth of the laser welding machine market.
The surge in manufacturing activities is anticipated to be a driving force behind the growth of the laser welding machine market. Manufacturing involves the transformation of raw materials or components into finished goods using tools, human labor, equipment, and chemical processes. Laser welding machines are integral to manufacturing activities, providing a precise and efficient means of joining materials, thereby enabling high-speed and accurate welding processes. These machines contribute to enhanced manufacturing productivity by offering versatile and automated solutions across various industries. For instance, the Federal Reserve System reported a 0.4% increase in US manufacturing output in September 2023, indicating an uptick in factory manufacturing. Therefore, the heightened manufacturing activities are fueling the growth of the laser welding machine market.
A prominent trend in the laser welding machine market is the focus on product innovations by companies striving to maintain their market position. In February 2023, NewTec GmbH, a Belgium-based manufacturer of weighing, sorting, and packaging machinery, introduced the "LASER FLOWPACK 700," a novel laser welding machine designed for packaging fruit and vegetable products. This cutting-edge machine combines cutting and sealing capabilities in one, automating plastic film production and reducing plastic consumption.
Major players in the laser welding machine market are adopting a strategic partnership approach to enhance welding capabilities and address specific requirements, especially in the realm of e-mobility applications. Strategic partnerships involve leveraging each other's strengths and resources for mutual benefit. For example, in August 2022, BBW Lasertechnik GmbH, a Germany-based laser materials company, collaborated with Civan Lasers, an Israel-based laser equipment company, to further develop laser beam welding using Civan's advanced 8 kW OPA 6 laser technology.
In November 2022, Bollore Energy S.A., a France-based petroleum products producer, introduced Calorza, its latest biofuel blend comprising 30% fatty acid methyl esters (FAME) derived from vegetable oil. This biofuel innovation underscores Bollore Energy's commitment to reducing greenhouse gas emissions and providing sustainable alternatives to traditional heating oils. The collaboration with the French Federation of Fuel Trading and Distribution Companies (FF3C) is geared towards diminishing dependence on fossil fuels in domestic heating oil. Bollore Energy's phased introduction of Calorza across France offers customers easy access to this environmentally friendly product through regular agency channels, showcasing the company's adaptability and dedication to addressing environmental concerns in the energy sector.
Major companies operating in the laser welding machine market report are TRUMPF Group, The Emerson Electric Co., Wuhan Golden Laser Co., Jenoptik AG, LaserStar Technologies Corporation, IPG Photonics Corporation, Amada Miyachi Co. Ltd., O.R. Lasertechnologie GmbH, Golden Laser Co. Ltd., Coherent Inc., Perfect Laser Co. Ltd., Laserline GmbH, Huagong Laser Engineering Co. Ltd., Sahajanand Laser Technology Limited, SIGMA Laser GmbH, Sisma S.p.A., Emerson Electric Co., Shenzhen HeroLaser Equipment Co.Ltd., EMAG GmbH & Co. KG, FANUC Robotics Company, LASAG Corporation, Han's Laser Technology Co. Ltd., Baison Laser, SPI Lasers UK Ltd., Alpha Laser U.S., Wuhan Sintec Optronics Co.Ltd., Rofin-Sinar Technologies Inc., Wuhan Huagong Laser Engineering Co.Ltd., Nuernberg Industrial Laser GmbH
Europe was the largest region in the laser welding machine market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global laser welding machine market during the forecast period. The regions covered in the laser welding machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the laser welding machine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The laser welding machine market consists of sales of gas laser welding machines and semiconductor laser welding machines. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.