The Laser Welding Machine Market to grow by USD 458.39 million from 2022 to 2027, Growing adoption of welding robots is a key factor driving market growth- Technavio

NEW YORK, Sept. 25, 2023 /PRNewswire/ -- The laser welding machine market is expected to grow by USD 458.39 million from 2022 to 2027. However, the growth momentum of the market will progress at a CAGR of 5.24% during the forecast period. The market is segmented by End-user (Automotive, Healthcare, Aerospace and Defense, Electronics, and Others), Technology (Fiber laser, Solid-state laser, CO2 laser, and Others), and Geography (APAC, Europe, North America, South America, and Middle East and Africa). The growing adoption of welding robots is a key factor driving market growth. Robotic systems are increasingly being used to carry out the tasks of welding and bonding, owing to their remarkable speed, accuracy, and effectiveness in this sector. In addition, laser welding robots include a servo-controlled multiaxis mechanical hand in which the laser cutting head is fitted. The robots help to maintain the quality of welds, which in turn improves consistency. Moreover, laser welders can be used in precise processes in the automobile sector, such as wire-cutting solenoids for interior entertainment systems, drive components, and metal-cutting parts. Hence, these factors are expected to drive market growth during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View FREE PDF Sample 

Key Highlights:

• The report recognizes the following as some of the key players in the laser welding machine market: AMADA Co. Ltd., Bystronic Laser AG, Coherent Inc., Emerson Electric Co., FANUC Corp., Hans Laser Technology Industry Group Co. Ltd., HGLaser Engineering Co. Ltd., IPG Photonics Corp., Jenoptik AG, Jinan Xintian Technology Co. Ltd, Laserline GmbH, Laserstar Technologies Corp., OREE LASER, Perfect Laser Co. Ltd., Sahajanand Laser Technology Ltd., SCANLAB GmbH, Suzhou Prato Laser Technology Co. Ltd., Suzhou Tianhong Laser Co. Ltd., TRUMPF SE Co. KG, and Wuhan golden laser co. ltd.
• Laser Welding Machine Market is fragmented in nature.
• Market to observe 4.91% YOY growth in 2023.

Market Dynamics:

Major Trend

• Technological advancements in plastic welding equipment are major trends in the market.

Significant Challenge

• The dearth of skilled labor is a significant challenge restricting market growth.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Key Segments:

• The market share growth of the automotive segment will be significant during the forecast period. Laser welding has been widely used in the automobile industry, owing to its accuracy and effectiveness. It allows automotive manufacturers to align metal components in a way that does not distort, thereby producing strong and durable welds. In addition, for lighter materials such as aluminum, which is becoming more and more popular in modern vehicles for improving their fuel efficiency, this technique offers value. This technology provides long-term cost savings by increasing production speeds, reducing material waste, and reducing maintenance, despite the potential initial investment costs. Hence, these factors are expected to drive segment growth during the forecast period.

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FAQS

• How do the major trends impact the market?
• How big is the APAC market?
• How do the key drivers and challenges impact the market?

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The metal welding market is estimated to grow at a CAGR of 5.19% between 2022 and 2027, and the size of the market is forecast to increase by USD 10.31 million. This report extensively covers market segmentation by type (arc, resistance, oxyacetylene gas, solid state, and others), end-user (automotive, construction, aerospace, and others), and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The emergence of laser welding equipment is notably driving market growth. 

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-User

Market Segmentation by Technology

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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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