What Has Been The Historical And Current Growth Of The Laser Welding Machine Market?
The laser welding machine market has seen considerable growth due to a variety of factors.
•Over the past few years, the market size of the laser welding machine has seen steady growth. It's predicted to expand from $1.37 billion in 2024 to $1.42 billion the following year, with a compound annual growth rate (CAGR) of 4.1%.
Factors contributing to this growth during the historic period include high heat resistance, uses in the automotive sector, telecommunications infrastructure, industrial expansion, chemical resistance, and improvements in manufacturing.
What Is The Forecast For The Laser Welding Machine Market By 2029?
The laser welding machine market is expected to maintain its strong growth trajectory in upcoming years.
• The market for laser welding machines is anticipated to experience a consistent expansion in the coming years, reaching "$1.72 billion by 2029 with a compound annual growth rate (CAGR) of 4.8%.
The forecasted growth can be credited to the rise in electric vehicles, focus on sustainable materials, increasing consumer goods demand, flexible electronics, opportunities in the aerospace sector, and worldwide industrialization. Noteworthy trends expected during the forecast period encompass advancements in biotechnology, innovations in manufacturing techniques, technological progress, partnerships and amalgamations, and intelligent packaging.
Which Key Drivers Are Propelling The Laser Welding Machine Market's Growth?
The laser welding machine market is anticipated to expand with the growth of the automotive industry. The automotive industry, which includes the designing, creation, manufacture, promotion, and retail of vehicles such as cars, trucks, and motorcycles, is on the rise. Factors contributing to this growth include growing consumer demand, innovations in electric and autonomous vehicles, and heightened urbanization leading to a call for mobility solutions. The automotive industry utilizes laser welding machines for accurate joining of metal parts, offering superior strength, pace, and precision, specifically in the production of car bodies and electric vehicle batteries. For example, Statistics Canada, a national statistical organization in Canada, reported in June 2024 that the total number of registered road motor vehicles in Canada in 2022 had reached 26.3 million. This was a slight growth of 0.3% compared to 2021. Hence, the ongoing expansion of the automotive industry is prompting the growth of the laser welding machine market.
What Are The Key Segments Within The Global Laser Welding Machine Market?
The laser welding machine market covered in this report is segmented –
1) By Type: Handheld Laser Welding Machine, Automated Laser Welding Machine
2) By Technology: Fiber Laser Welding Machine, Co2 Laser Welding Machine, Solid-State Laser Welding Machine
3) By End User: Automotive, Electronics, Medical, Jewelry Industry, Tool and Mold-Making, Other End Users
Subsegments:
1) By Handheld Laser Welding Machine: Fiber Laser Welding Machines, Diode Laser Welding Machines
2) By Automated Laser Welding Machine: Robotic Laser Welding Systems, Fixed Laser Welding Systems
Pre-Book The Laser Welding Machine Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
How Are New Trends Impacting The Size Of The Laser Welding Machine Market?
The emergence of product innovations is a significant trend emerging in the field of laser welding machine market. Firms engaged in the production of laser welding machines are consistently coming up with novel inventions to maintain their market standing. A case in point would be NewTec GmbH, a Belgium-based company that manufactures weighing, sorting, and packing machinery. In February 2023, they introduced their new laser welding machine, the LASER FLOWPACK 700. Developed specifically for the packaging of fruits and vegetables, this new machine possesses both the abilities to seal and cut. The LASER FLOWPACK 700 also facilitates the automation of plastic film production, reducing plastic consumption in the process.
Who Are the Key Players in the Laser Welding Machine Market?
Major companies operating in the laser welding machine market include:
• TRUMPF Group
• 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.
• Nüernberg Industrial Laser GmbH
What are the Regional Insights into the Laser Welding Machine Market?
Europe was the largest region in the laser welding machine market in 2024. 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
