The Laser Welding Machine Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Laser Welding Machine Global Market Report 2024, The laser welding machine market size has grown steadily in recent years. It will grow from $1.32 billion in 2023 to $1.38 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The growth in the historic period can be attributed to high heat resistance, automotive applications, telecommunications infrastructure, industrial growth, chemical resistance, manufacturing advancements
The laser welding machine market size is expected to see steady growth in the next few years. It will grow to $1.63 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to electric vehicle growth, sustainable material focus, rising consumer goods demand, flexible electronics, aerospace sector opportunities, global industrialization. Major trends in the forecast period include biotechnology advances, innovations in manufacturing processes, technological advancements, collaborations and mergers, smart packaging.
The growing demand for fabricated metal products is expected to propel the growth of the laser welding machine market going forward. Fabricated metal products refer to a wide range of metal structures, parts, and components that are created by various processes of fabrication, such as cutting, bending, welding, and assembling. Laser welding machines are widely used in the fabrication of metal products for various processes such as the joining of thin metal sheets with minimal heat input and the joining of dissimilar metals. For instance, in April 2023, according to Eurostat, a Luxembourg-based European statistical office, the manufacturing of fabricated metal products and basic metals accounted for 23% of the value of sold production in Italy in 2021. Bulgaria accounted for 22% of the share, followed by Greece at 21%, and Austria, Finland, and Slovenia each captured 20% of the value of sold production for fabricated metal products and basic metals in 2021. Therefore, the growing demand for fabricated metal products is driving the growth of the laser welding machine.
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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
Product innovations are a key trend gaining popularity in the laser welding machine market. Companies operating in the laser welding machine market are developing innovative products to sustain their position in the market. For instance, in February 2023, NewTec GmbH, a Belgium-based manufacturer of weighing, sorting, and packaging machinery, launched a new laser welding machine, the “”LASER FLOWPACK 700″”. This new laser welding machine is used for the packaging of fruit and vegetable products and is equipped with both the capabilities of cutting and sealing in one machine. The LASER FLOWPACK700 enables the automation of plastic film production as required, thus reducing the consumption of plastics.
The laser welding machine market report table of contents includes:
1. Executive Summary
2. Laser Welding Machine Market Characteristics
3. Laser Welding Machine Market Trends And Strategies
4. Laser Welding Machine Market – Macro Economic Scenario
5. Global Laser Welding Machine Market Size and Growth
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26. South America Laser Welding Machine Market
27. Brazil Laser Welding Machine Market
28. Middle East Laser Welding Machine Market
29. Africa Laser Welding Machine Market
30. Laser Welding Machine Market Competitive Landscape And Company Profiles
Top Major Players:
- Boston Scientific Corporation
- Terumo Corporation
- Medtronic PLC
- Avinger Inc
- Cardiovascular Systems Inc
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