Laser Welding Equipment Market

Laser Welding Equipment Market Overview

The laser welding equipment market is likely to grow by US$ 373 Mn by 2025, exhibiting a CAGR of 4.8% during the forecast period 2022-2032.

Sales of laser welding equipment are expected to rise as advancements in laser technology have resulted in its wide usage and laser beams a commonplace.

The laser welding process is used for welding a wide range of materials. Hence, its utility serving a range of purposes drives the demand for laser welding equipment.

The rising sales of laser welding equipment can also be attributed to the aid it provides in joining components that needs high-speed welding and low thermal distortion, the need for which is rising.

The laser welding process has a majority of its application in exotic applications where no other welding process would be suitable, which is anticipated to scale up the demand for laser welding equipment.

The demand for laser welding equipment is also fostered by the essential growth sectors such as photovoltaic, entertainment electronics, medical device technology, etc. 

The continued growth in the photovoltaic demand and succeeding its production is greatly responsible for the increasing sales of laser welding equipment in recent years. 

The equipment provides high precision, flexibility, and productivity which allows mass production of innovative products and, in turn, spiking the sales of laser welding equipment.

The demand for laser welding equipment is projected to surge due to the extensive usage in various end user segments. 

The demand for laser welding equipment has been experiencing a phase of emerging acceptance by many new customers that are new to the laser, and the same boost the sales of laser welding equipment.

The global sales of laser welding equipment are being expanded by the already existing users increasing their use of laser welding equipment for explicit applications.

The development of new technologies for new applications and new applications for existing ones also augments the demand for laser welding equipment during the forecast period.

The wind turbine towers and substructures are becoming the driving forces for the sales of laser welding equipment. They have been increasing their laser welding equipment usage, hence ensuring a lower cost of offshore wind energy.

What are the Key Dynamics in the Laser Welding Equipment Market?

The global sales of laser welding equipment are expected to grow due to increasing demand from the automotive sector and the construction sector. 

The demand for laser welding equipment is further supported by emerging economies such as Asia pacific with a high growth potential industry such as wind energy. 

The rising importance of wind energy is expected to promote the demand for laser welding equipment.

The emergence of new procedures and applications globally and new technological development are further driving the demand for laser welding equipment.

Conversely, the shortage of skilled labours in manufacturing industries is accepted to impede the demand for laser welding equipment globally. 

It is also anticipated that a hefty initial price tag (that saves money over time) and high labour cost can pose a challenge for the growing sales of laser welding equipment.

Nikhil Kaitwade

Principal Consultant

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What is the Region-wise Outlook of the Laser Welding Equipment Market?

The Asia Pacific is projected to hold a considerable laser welding equipment market share. 

The factors contributing to the rising sales of laser welding equipment in APAC are growing awareness for the laser welding technology and the rising automotive and transportation sectors. 

Europe is expected to lose its laser welding equipment market share to emerging economies due to the shortage of raw materials and adverse effects of the economic crisis on the end user industries. 

North America and the Rest of the world followed the European market in terms of the laser welding equipment market share.

How Strong is the Competition in the Laser Welding Equipment Market?

The laser welding machines market is highly fragmented, with significant global players coexisting with small and medium-sized local players, with only a few players holding significant laser welding equipment market share.

The key players in the global laser welding equipment market are Lincoln Electric, ITW, Böhler, Panasonic and ESAB (Elektriska Svetsnings-Aktiebolaget).

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