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Technavio expects the laser cladding market size to increase by USD 16.33 million between 2020 and 2025. The market observed a YOY growth of 2.39% in 2021 and the growth momentum is expected to accelerate at a CAGR of 3.34% during the forecast period. The growth of the market can be attributed to the adoption of modern and efficient material hard-facing and coating technology, growing demand from mechanical component repair and renovation applications, and the declining cost of laser systems. In addition, the development of automatic laser cladding equipment is expected to further accelerate the growth of the market. However, the competition from other hard-facing technologies, the lack of skilled machine operators for laser cladding equipment, and the slowdown in the Chinese manufacturing sector will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Segmentations in the Laser Cladding Equipment Market Study
The laser cladding equipment market is segmented as below:
- End-user
- Industrial
- Mining
- Power Generation
- Others
The industrial segment will account for the maximum revenue generation in the market. The growth of the global automotive industry is the key factor driving the growth of the segment. In addition, the expansion of manufacturing facilities by major automakers is expected to further accelerate the growth of the segment during the forecast period.
The high-power laser cladding equipment segment currently dominates the market. The segment is driven by advances in high-power laser cladding equipment such as the integration of closed-loop temperature sensors (pyrometers) that allow the laser system to moderate the power output and enable it to maintain a stable process temperature. The market growth in the segment will be significant during the forecast period.
- Geography
- Europe
- North America
- APAC
- MEA
- South America
About 44% of the market growth will originate from Europe during the forecast period. The increased emphasis on improving technological efficiency and the adoption of the latest technologies in the manufacturing facilities in the region are driving the growth of the laser cladding equipment market in Europe. In addition, the presence of major automobile brands in the region will have a positive impact on the growth of the regional market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our laser cladding equipment market report covers the following areas:
Vendors covered in the Laser Cladding Equipment Market
We provide a detailed analysis of around 25 vendors operating in the laser cladding equipment market. Backed with competitive intelligence and benchmarking, our research report on the laser cladding equipment market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.
Laser Cladding Equipment Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist laser cladding equipment market growth during the next five years
- Estimation of the laser cladding equipment market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the laser cladding equipment market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of laser cladding equipment market vendors
Related Reports:
Laser Cladding Equipment Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.34% |
Market growth 2021-2025 |
USD 16.33 million |
Market structure |
Fragmented |
YoY growth (%) |
2.39 |
Regional analysis |
Europe, North America, APAC, MEA, South America, Europe, North America, APAC, MEA, and South America |
Performing market contribution |
Europe at 44% |
Key consumer countries |
US, Germany, China, France, and UK |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
ALPHA LASER GmbH, Coherent Inc., Fraunhofer Society for the Promotion of Applied Research eV, Gall and Seitz Systems GmbH, Hans Laser Technology Industry Group Co. Ltd., IPG Photonics Corp., KUKA AG, Laserline GmbH, OC Oerlikon Corp. AG, and TRUMPF GmbH + Co. KG |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table Of Contents:
1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- Exhibit 02: Market characteristics
- 2.2 Value chain analysis
- Exhibit 03: Value chain analysis: Industrial machinery
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.4 Market outlook: Forecast for 2020 - 2025
- Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
- Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition - Five forces 2020
5 Market Segmentation by End-user
- 5.1 Market segments
- Exhibit 15: End-user - Market share 2020-2025 (%)
- 5.2 Comparison by End-user
- Exhibit 16: Comparison by End-user
- 5.3 Industrial - Market size and forecast 2020-2025
- Exhibit 17: Industrial - Market size and forecast 2020-2025 ($ million)
- Exhibit 18: Industrial - Year-over-year growth 2020-2025 (%)
- 5.4 Mining - Market size and forecast 2020-2025
- Exhibit 19: Mining - Market size and forecast 2020-2025 ($ million)
- Exhibit 20: Mining - Year-over-year growth 2020-2025 (%)
- 5.5 Power generation - Market size and forecast 2020-2025
- Exhibit 21: Power generation - Market size and forecast 2020-2025 ($ million)
- Exhibit 22: Power generation - Year-over-year growth 2020-2025 (%)
- 5.6 Others - Market size and forecast 2020-2025
- Exhibit 23: Others - Market size and forecast 2020-2025 ($ million)
- Exhibit 24: Others - Year-over-year growth 2020-2025 (%)
- 5.7 Market opportunity by End-user
- Exhibit 25: Market opportunity by End-user
6 Market Segmentation by Power
- 6.1 Market segments
- Exhibit 26: Power - Market share 2020-2025 (%)
- 6.2 Comparison by Power
- Exhibit 27: Comparison by Power
- 6.3 High power - Market size and forecast 2020-2025
- Exhibit 28: High power - Market size and forecast 2020-2025 ($ million)
- Exhibit 29: High power - Year-over-year growth 2020-2025 (%)
- 6.4 Low power - Market size and forecast 2020-2025
- Exhibit 30: Low power - Market size and forecast 2020-2025 ($ million)
- Exhibit 31: Low power - Year-over-year growth 2020-2025 (%)
- 6.5 Market opportunity by Power
- Exhibit 32: Market opportunity by Power
7 Customer landscape
8 Geographic Landscape
- 8.1 Geographic segmentation
- Exhibit 34: Market share by geography 2020-2025 (%)
- 8.2 Geographic comparison
- Exhibit 35: Geographic comparison
- 8.3 Europe - Market size and forecast 2020-2025
- Exhibit 36: Europe - Market size and forecast 2020-2025 ($ million)
- Exhibit 37: Europe - Year-over-year growth 2020-2025 (%)
- 8.4 North America - Market size and forecast 2020-2025
- Exhibit 38: North America - Market size and forecast 2020-2025 ($ million)
- Exhibit 39: North America - Year-over-year growth 2020-2025 (%)
- 8.5 APAC - Market size and forecast 2020-2025
- Exhibit 40: APAC - Market size and forecast 2020-2025 ($ million)
- Exhibit 41: APAC - Year-over-year growth 2020-2025 (%)
- 8.6 MEA - Market size and forecast 2020-2025
- Exhibit 42: MEA - Market size and forecast 2020-2025 ($ million)
- Exhibit 43: MEA - Year-over-year growth 2020-2025 (%)
- 8.7 South America - Market size and forecast 2020-2025
- Exhibit 44: South America - Market size and forecast 2020-2025 ($ million)
- Exhibit 45: South America - Year-over-year growth 2020-2025 (%)
- 8.8 Key leading countries
- Exhibit 46: Key leading countries
- 8.9 Market opportunity by geography
- Exhibit 47: Market opportunity by geography ($ million)
9 Drivers, Challenges, and Trends
- 9.2 Market challenges
- Exhibit 48: Impact of drivers and challenges
10 Vendor Landscape
- 10.1 Competitive Scenario
- 10.2 Vendor landscape
- Exhibit 49: Vendor landscape
- 10.3 Landscape disruption
- Exhibit 50: Landscape disruption
- Exhibit 51: Industry risks
11 Vendor Analysis
- 11.1 Vendors covered
- Exhibit 52: Vendors covered
- 11.2 Market positioning of vendors
- Exhibit 53: Market positioning of vendors
- 11.3 ALPHA LASER GmbH
- Exhibit 54: ALPHA LASER GmbH - Overview
- Exhibit 55: ALPHA LASER GmbH - Product and service
- Exhibit 56: ALPHA LASER GmbH - Key offerings
- 11.4 Coherent Inc.
- Exhibit 57: Coherent Inc. - Overview
- Exhibit 58: Coherent Inc. - Business segments
- Exhibit 59: Coherent Inc. - Key news
- Exhibit 60: Coherent Inc. - Key offerings
- Exhibit 61: Coherent Inc. - Segment focus
- 11.5 Fraunhofer Society for the Promotion of Applied Research eV
- Exhibit 62: Fraunhofer Society for the Promotion of Applied Research eV - Overview
- Exhibit 63: Fraunhofer Society for the Promotion of Applied Research eV - Product and service
- Exhibit 64: Fraunhofer Society for the Promotion of Applied Research eV - Key offerings
- 11.6 Gall and Seitz Systems GmbH
- Exhibit 65: Gall and Seitz Systems GmbH - Overview
- Exhibit 66: Gall and Seitz Systems GmbH - Product and service
- Exhibit 67: Gall and Seitz Systems GmbH - Key offerings
- 11.7 Hans Laser Technology Industry Group Co. Ltd.
- Exhibit 68: Hans Laser Technology Industry Group Co. Ltd. - Overview
- Exhibit 69: Hans Laser Technology Industry Group Co. Ltd. - Product and service
- Exhibit 70: Hans Laser Technology Industry Group Co. Ltd. - Key offerings
- Currency conversion rates for US$ 136
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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