Laser Welding Machine Market

Laser Welding Machine Market Industry Overview:

Sensors Laser welding can be defined as a process which is used to join together metals or thermoplastics via using a laser beam to form a weld. Laser welding can be carried out at high welding speeds of metres per minute in thin materials. It can produce narrow and deep welds between square-edged parts in thicker materials.  Laser welding machines are being widely used in various industrial sectors due to its high process speed, high automation level and ability to control the quality of welding during operation. The global Laser Welding Machine market was valued at around USD xx billion in 2020 and is expected to register a CAGR of 2.8% during the review period to reach to around USD xx billion by end of 2028.

Laser Welding Machine Market Segmentation:

By technology, the global laser welding machine market has been segmented into fiber laser welding machine, CO₂ laser welding machine and solid-state laser welding machine. The fiber laser welding machine segment accounted for the largest market share in 2020 and is expected to register significant growth during the review period. The segment growth can be attributed to widespread product use in the end-use industries due to its superior benefits such as lower heat input, higher precision control, and lower electrical energy consumption. Fiber laser technology is based on sharp and thin beams.  In fiber laser technology, the laser light is generated in an active fiber and is guided to the work piece by means of a flexible delivery fiber. It is being used for various materials processing such as laser making, laser cutting, and laser engraving due to its flexibility. CO₂ laser technology involves use of a gas mixture of helium, carbon dioxide, and nitrogen. It can penetrate thick sheets with great efficiency and speed.  It is most prominently used to penetrate thick steel parts in comparison to fiber laser technology.

By application, the global laser welding machine market has been segmented into medical, electronics, jewelry, automotive, tool and mold-making, and others. The automotive segment accounted for the largest market share in 2020 and is expected to grow at a significant CAGR during the review period. The segment growth can be attributed to increasing production of passenger vehicles on account of rising consumer spending on vehicles coupled with increasing per capita disposable income of the consumers. Laser welding machines are being used for welding various automotive parts such as roof, door or filter assemblies.  The medical and jewelry segments are projected to grow at a considerable CAGR during the review period on account of increasing use of laser welding to put together metals on a small level. It is primarily used in high capacity manufacturing in the medical industry.

Laser Welding Machine Market Dynamics and Factors:

The growth of the global laser welding machine market is primarily driven by significant growth of the automotive and medical industries. Growing automotive industry with rising production of passenger vehicles to meet growing consumer demand is driving the global laser welding machine market growth.  In addition to this, rising emphasis on manufacturing of electric vehicles to meet emission standards set by the local regulatory authorities is likely to add to the global laser welding machine market growth. Significant growth of the medical industry with rising spending on healthcare across the geographies is expected to bolster the global laser welding machine market growth substantially during the review period.

Growing demand for advanced laser welding machines is likely to offer lucrative growth opportunities to the market players. Additionally, expanding industrialization in the developing countries of Asia-Pacific and the Middle East & Africa regions are projected to offer significant growth potential to the industry players.

Laser Welding Machine Geographical Analysis:

By geography, the global laser welding machine market has been segmented into North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa. The market in Asia-Pacific accounted for the largest share in 2018 and is expected to grow at a significant CAGR during the review period. China was the key revenue generating country in the region in 2020. The regional market growth can be attributed to expanding growth of the end-use industries including manufacturing, automotive, and medical among others. Increasing production of passenger vehicles in the developing countries particularly China and India is expected to spur the global laser welding machine market growth significantly. Additionally, strong presence of jewelry industry in India and China is another prominent factor supporting the market growth in the region.

The market growth in North America is driven by the established presence of the end-use industries particularly automotive and medical. In addition to this, the presence of key market players such as Emerson Electric Company (US) and IPG Photonics (US) are expected to contribute to the global laser welding machine market growth substantially during the review period.

The European market is expected to grow at a considerable CAGR during the review period. Germany, UK and France were the largest revenue generating countries in the region. Established presence of automotive and medical industries is driving the product demand in the region.

The market in Latin America and the Middle East & Africa is expected to be driven by the growth of the major end-use industries particularly automotive and electrical & electronics.

Laser Welding Machine Market Report Scope

Key Market Segmentation

Laser Welding Machine Market - By Technology

 o     Fiber Laser Welding Machine

 o     Co₂ Laser Welding Machine

 o     Solid-State Laser Welding Machine

Laser Welding Machine Market - By Application

 o    Medical

 o    Electronics

 o    Jewelry

 o    Automotive

 o    Tool and Mold-Making

 o    Others 

Laser Welding Machine Market - By Region

North America

 o   US

 o   Canada

 o   Mexico

Europe

 o   Germany

 o    UK

 o    France

 o    Italy

 o   Spain

 o   Russia

 o   Benelux

 o   Nordics

 o   Rest of Europe

 Asia-Pacific

 o    China

 o    India

 o    Japan

 o    South Korea

 o    Rest of Asia-Pacific

 Middle East and Africa

 South America