Laser Welding Market

Laser Welding Market Snapshot (2022 to 2032)

Global Laser Welding’ demand is anticipated to be valued at USD 2,758.3 Million in 2022, forecast to grow at a CAGR of 6.9% to be valued at USD 5,387.0 Million from 2022 to 2032. Growth is attributed to the growing momentum toward the generation of energy through renewable sources.

Report Attribute	Details
Expected Market Value (2022)	USD 2,758.3 Million
Anticipated Forecast Value (2032)	USD 5,387.0 Million
Projected Growth Rate (2022 to 2032)	6.9% CAGR

Laser Beam Welding can be defined as a joining technique of two or more similar materials by the utilization of heat generated by highly concentrated laser beams. Metals are the most common materials used in these welding techniques, however, plastic materials have also found application in the laser beam welding process.

Laser beam welding is highly beneficial in welding small parts as it can weld such materials with minimal residue and thermal distortion. Laser beam welding is being adopted for various industrial applications as it can be completely automated achieving high welding speeds.

The growth of the market is majorly driven by the increasing demand from several end-user industries such as automotive, medical, electronics, etc., across the world.

The market is also driven by the growing demand for fabricated metal products, the development of heavy industrial equipment, advancement in manufacturing processes, and the adoption of the latest technologies. Additionally, the demand for automated equipment is also increasing due to the shortage of skilled personnel in some of the regions studied.

Factors such as increasing utilization in the manufacture of wind turbines are expected to boost the growth of the Laser Welding market in the near future.

On the other hand, high power requirements and automation are one of the major factors that are expected to hamper the growth of the Laser Welding Market over the analysis period.

Which Are Some Prominent Drivers Spearheading Laser Welding Market Growth?

The growing momentum towards the generation of energy through renewable sources is expected to propel the growth of the Laser Welding Market over the analysis period. The electronics industry also utilizes this process as the manufacturers within this industry constantly deal with the fabrication of minute electronic components, such as circuit boards, transistors, and integrated circuits.

The laser beam welding process is being steadily adopted in the automotive industry wherein around 20% of the welding operations are performed through laser beam welding equipment, this percentage is expected to rise even further in the upcoming years due to improvements observed in the overall productivity, quality, and weld strength.

Automotive parts, such as engine components, solenoids, alternators, fuel filters, and injectors, among others, have been increasingly manufactured through the laser beam welding process. Another factor influencing the growth of the laser beam welding equipment market is its increasing utilization in the manufacture of wind turbines. All these factors are expected to boost the growth of the Laser Welding Market during the forecast period.

What Are The Challenges Faced By The Laser Welding Industry?

Laser beam welding equipment is a capital-intensive device that requires precise planning, technical know-how, high power requirement, and automation before it can be put into operation. This is one of the major factors that is expected to impede the growth of the laser beam equipment market as end users can opt for low-cost alternatives due to the steep costs involved.

There are numerous welding processes that compete directly with laser beam welding, such as electron beam welding, oxy-fuel welding, and resistance welding, among others, and also have the potential to grow in the market hence, influencing the market share of laser beam welding process and thereby restraining the growth of the laser beam equipment market.

Why Is North America Emerging As An Opportunistic Laser Welding Market?

In terms of regional platforms, North America holds the largest market share in the Laser Welding market. The region is expected to surge to over 27% share from 2022 to 2032.

North America is expected to fuel the Laser Welding market, attributed to the growing demand for high productivity in the welding operation, which is expected to propel the demand for the global Laser Welding market over the forecast period.

How Is Europe Contributing To Growth Of The Laser Welding Market?

According to Future Market Insights, Europe is expected to hold lucrative growth opportunities for Laser Welding and is expected to reach a significant share of 30% in 2022.

Europe is expected to witness significant market growth, owing to the well-established automotive sector in countries like Germany, Spain, France, and others, which is expected to act as an engine for market growth in the region. Technological advancement in the region is the supporting factor for the market.

Where Does Asia-Pacific Region Stand In The Laser Welding Market?

According to Future Market Insights, Asia-Pacific is expected to grow with lucrative growth opportunities for Laser Welding Market and is expected to reach a market share of 24.6% in 2022.

Asia-Pacific region accounts for a significant share of the Laser Welding Market, attributed to the growing industrialization and the presence of a large number of manufacturing facilities, which are expected to drive the market growth over the forecast period. Increasing awareness and adoption of Laser Weldings in various industrial sectors is further expected to boost the market growth during the forecast period.

How Is Middle East & Africa Contributing To Growth Of The Laser Welding Market?

According to Future Market Insights, the Middle East & Africa are expected to provide significant growth opportunities for Laser Welding Market and are expected to reach a share of 13.3% in 2022.

The developing Laser Welding market in the Middle East & Africa is expected to aid in the flourishing market during the forecast period, owing to increasing demand for fabricated metal parts in the heavy machinery industry, which is expected to positively influence market growth. Increasing automation is also expected to accelerate market growth during the forecast period.

Role Of Start-ups In Laser Welding Market

There are many prominent market players in the Laser Welding Market such as Leister India, Keepsake Automation LLP, Vitesco Technologies, AMADA Weld Tech, Inrotech, TonggaoAdvanced Manufacturing Technology Co Ltd, JQ Laser, SONICS, Extol Laser Plastic Welding, among others, that are working hand-in-hand to provide the best-in-class Laser Welding for enhancing the global Laser Welding arena.

However, there are many global start-ups in the Laser Welding Market, that are stepping forward in matching the requirements of the Laser Welding domain.

• In July 2022, Vitesco Technologies, a leading international manufacturer of modern drive technologies and electrification solutions, is using innovative laser systems from its long-standing production engineering partner TRUMPF. With the introduction of the new green laser equipment for copper welded joints, Vitesco Technologies is among the pioneers in the serial use of this new solution. Compared with infrared laser systems, the standard in copper welding to date, the use of green lasers can reduce energy consumption by up to 20 percent, depending on the application, and thus the CO2 footprint per laser welded joint.
• In March 2021, Extol introduced LaserLock™ plastic weld tooling, which repeatably locates and holds the plastic parts inside the Laser Welding, which is crucial for success. This solution makes process setup easy and allows for more flexibility in the part design.

Market Competition

Some of the key participants present in the global Laser Welding market include ROFIN-SINAR Laser GmbH, The Emerson Electric Company, O.R. Lasertechnologie GmbH, TRUMPF GmbH + Co. KG, Panasonic Corporation, Colfax Corporation, CMF Groupe, Control Laser Corporation, Wuhan Farley Laserlab Cutting Welding System Engineering Co., Ltd., ALPHA LASER GmbH, Bielomatik Leuze GmbH + Co. KG, LaserStar Technologies Corporation, and Sahajanand Laser Technology Ltd., among others.

Attributed to the presence of such a high number of participants, the market is highly competitive. While global players such as ROFIN-SINAR Laser GmbH, The Emerson Electric Company, O.R. and Laser technologies GmbH, and TRUMPF GmbH + Co. KG account for a considerable market size, several regional-level players are also operating across key growth regions, particularly in North America.

Recent Development

• In November 2019, Lincoln Electric introduced a new MIG welding technology, namely POWER MIG 360MP welder, an easy-to-use interface with advanced welding features. This equipment is ideal for metal fabrication, auto-body repair and maintenance, and light industrial applications.
• In May 2019, Lincoln Electric invested USD 20 million in the plant located in Mahindra World City, a special economic zone, in Chennai, India.
• In November 2018, ESAB introduced a multipurpose and user-friendly welder called Versotrac for submerged arc welding, MIG/MAG, and carbon arc welding at FABTECH, in Atlanta. This portable tractor is feasible for the laser beam welding process and useful for structural steel applications.

Report Scope

Report Attribute	Details
Growth Rate	CAGR of 6.9% from 2022 to 2032
Market Value in 2022	USD 2,758.3 Million
Market Value in 2032	USD 5,387.0 Million
Base Year for Estimation	2021
Historical Data	2016 to 2021
Forecast Period	2022 to 2032
Quantitative Units	Revenue in USD Million, Volume in Kilotons, and CAGR from 2022-2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered	Product Type, End-Use Industry, Application, Region
Regions Covered	North America; Latin America; Europe; Asia Pacific; Middle East and Africa
Key Countries Profiled	United States of America, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, Belgium, Netherlands, Luxembourg, Poland, Russia, Australia & New Zealand, China, India, ASIAN, GCC Countries, South Africa
Key Companies Profiled	ROFIN-SINAR Laser GmbH; The Emerson Electric Company; O.R. Laser Technologies GmbH; TRUMPF GmbH + Co. KG; Panasonic Corporation; Colfax Corporation; CMF Groupe; Control Laser Corporation; Wuhan Farley Laserlab Cutting Welding System Engineering Co., Ltd.; ALPHA LASER GmbH; Bielomatik Leuze GmbH + Co. KG; LaserStar Technologies Corporation and Sahajanand Laser Technology Ltd.; among others.
Customization	Available Upon Request

Key Segments Profiled In The Laser Welding Industry Survey

By Product Type:

• Carbon Dioxide Laser (CO2) Welding Machine
• Fibre
• Solid-State
• Others

By End-Use Industry:

• Energy Industry
• Transportation Industry
• Aerospace Industry
• Communications Industry
• Metal Fabrication Industry
• Automotive Industry
• Electronics Industry
• Others

By Application:

• Spot and Seam Welding
• Laser Deposit Welding
• Scanner Welding
• Tube Welding
• Profile Welding

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Frequently Asked Questions

What is the anticipated growth of the Laser Welding market until 2032?

FMI projects the global Laser Welding market to expand at an 6.9% value CAGR by 2032

Which region is forecast to be the most lucrative for Laser Welding market growth?

North America is expected to be the most opportunistic Laser Welding market, expanding at a 23.0% market share

Which are some prominent Laser Welding players?

ROFIN-SINAR Laser GmbH, The Emerson Electric Company, O.R., and Laser Technologies GmbH, and TRUMPF GmbH + Co. KG are some prominent Laser Welding players