Laser Cladding Market: Business Opportunities, Current Trends, Market Challenges in 2030
The global Laser Cladding (LC) market size was USD 472.3 Million in 2021 and is expected to register a revenue CAGR of 9.4% during the forecast period. Rising trend of sifting from conventional laser to laser cladding technologies is the key factor driving market revenue growth.
For many years, laser cladding has been utilized in a wide range of sectors to improve functional surfaces of metal components. It is a weld build-up process that readily surpasses conventional welding processes, such as Tungsten Inert Gas (TIG) for advanced weld repair applications and Plasma Transferred Arc (PTA) welding, in present days. Laser cladding enables power densities not normally feasible with conventional thermal techniques, resulting in minimal heat input, minimal deformation, and avoidance of post-weld heat treatments.
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In addition, growing adoption of laser cladding technologies over conventional lasers is expected to drive revenue growth of the market. Various companies are introducing advanced laser cladding technologies in the market. For instance, in August 2020, Bilsing Automation, a Germany-based automotive stamping and material handling solutions provider announced the introduction of EHLA, which is a high-speed Laser Metal Deposition (LMD) laser cladding technique that helps shield components from corrosion and wear. In comparison to hard chrome plating, thermal spraying, and conventional LMD, this technique offers a quicker, more affordable, and ecologically friendly option for coating surfaces.
Emergen Research has published a novel research report titled, “Global Laser Cladding Market Forecast to 2030”. The report sheds light on the current as well as upcoming market trends. The report offers precise information about pricing, capacity, value, gross revenue, and profit of the market. The primary aim of the report is to offer in depth details about market size, revenue growth and overall market dynamics to readers, stakeholders, companies to strengthen their share in the global Laser Cladding Market. It also provides in depth information about key factors, restraints, limitations, challenges along with various market segmentations such as product type, application and regional bifurcation.
The report also discusses the key players involved in the market such as OC Oerlikon Management AG, TRUMPF, IPG Photonics Corporation, Coherent, Inc., Höganäs AB, Curtiss-Wright Corporation, Laserline GmbH, Titanova, Inc., Hardchrome Engineering, and LaserBond Ltd. and others as well as new entrants in the market. It focuses on the recent mergers & acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions, and product launches, among others. The report also provides details about the company overview, business expansion plans, product portfolio, manufacturing and production capacity, global market position, financial status, and consumer base.
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Emergen Research has segmented the global laser cladding market based on type, materials, revenue, end-use, and region:
Type Outlook (Revenue, USD Million; 2019-2030)
Diode laser
CO2 laser
Acoustic laser
Fiber laser
Others
Materials Outlook (Revenue, USD Million; 2019-2030)
Cobalt-based alloys
Iron-based alloys
Nickel-based alloys
Carbides & carbide blends
Others
Revenue Outlook (Revenue, USD Million; 2019-2030)
System revenue
Laser revenue
End-use Outlook (Revenue, USD Million; 2019-2030)
Oil & gas
Automotive
Mining
Aerospace & defense
Power generation
Others
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The competitive analysis also includes regional analysis of major geographical regions. The report covers regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The report also offers a country wise analysis to impart better understanding of the global Laser Cladding market with regards to market share, market size, production and consumption ratio, product launches and R&D activities, investment opportunities, and presence of key players in the region.
Market Taxonomy:
Chapter 1: Methodology & Scope
Definition and forecast parameters
Methodology and forecast parameters
Data Sources
Chapter 2:
Executive Summary
Business trends
Regional trends
Product trends
End-use trends
Chapter 3:
Industry Insights
Industry segmentation
Industry landscape
Vendor matrix
Technological and innovation landscape
Chapter 4:
Regional Landscape
Chapter 5:
Company Profile
Business Overview
Financial Data
Product Landscape
Strategic Outlook
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