Laser Welding Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Laser Welding Market Trends and Forecast

The future of the global laser welding market looks promising with opportunities in the automotive, electronic, medical, jewellery, and tool & mold-making industries. The global laser welding market is expected to reach an estimated $3.6 billion by 2028 with a CAGR of 5.8% from 2023 to 2028. The major drivers for this market are increasing demand for fabricated metal products, advancement in the manufacturing process, and growing trend of automation in the welding process.

A more than 150-page report is developed to help in your business decisions.

Laser Welding Market by Segment

The study includes trends and forecast for the global laser welding market by technology, end use industry, and region, as follows.

Laser Welding Market by Technology [Value ($B) Shipment Analysis from 2017 to 2028]:

• Fiber
• Co2
• Solid-State
• Others

Laser Welding Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:

• Automotive
• Electronics
• Medical
• Jewellery Industry
• Tool and Mold-Making
• Others

Laser Welding Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Laser Welding Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, laser welding companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base.

Some of the laser welding companies profiled in this report include:

• Huagong Laser Engineering
• Jenoptik
• Wuhan Golden Laser
• The Emerson Electric
• TRUMPF Group

Laser Welding Market Insights

• Lucintel forecasts that fiber is expected to witness the highest growth over the forecast period as it can operate in an affordable way without the use of optical mirrors or other components, like disc lasers, and ensures high-speed welding.
• Automotive is expected to remain the largest end use industry segment due to the increasing need for accurate laser welding of vehicle parts, such as weld engine parts, transmission parts, fuel filters, solenoid, and others.
• APAC is expected to witness the highest growth over the forecast period due to rapid industrialization, the existence of huge manufacturing hubs, and the existence of a major automobile industry in the region.

Features of the Laser Welding Market

• Market Size Estimates: Laser welding market size estimation in terms of value ($B)
• Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Laser welding market size by various segments, such as by technology, end use industry, and region
• Regional Analysis: Laser welding market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different technology, end use industries, and regions for the laser welding market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the laser welding market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the laser welding market size?

Answer: The global laser welding market is expected to reach an estimated $3.6 billion by 2028.

Q2. What is the growth forecast for laser welding market?

Answer: The global laser welding market is expected to grow with a CAGR of 5.8% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the laser welding market?

Answer: The major drivers for this market are increasing demand for fabricated metal products, advancement in the manufacturing process, and growing trend of automation in the welding process.

Q4. What are the major segments for laser welding market?

Answer: The future of the laser welding market looks promising with opportunities in the automotive, electronic, medical, jewellery, and tool & mold-making industries.

Q5. Who are the key laser welding companies?

Answer: Some of the key laser welding companies are as follows.

• Huagong Laser Engineering
• Jenoptik
• Wuhan Golden Laser
• The Emerson Electric
• TRUMPF Group

Q6. Which laser welding segment will be the largest in future?

Answer:Lucintel forecasts that fiber is expected to witness the highest growth over the forecast period as it can operate in an affordable way without the use of optical mirrors or other components, like disc lasers, and ensures high-speed welding.

Q7. In laser welding market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness the highest growth over the forecast period due to rapid industrialization, the existence of huge manufacturing hubs, and the existence of a major automobile industry in the region.

Q8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the global laser welding market by technology (fiber, CO2, solid-state, and others), end use industry (automotive, electronics, medical, jewellery industry, tool and mold-making, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?