The global laser welding equipment market size reached US$ 2,761.4 million in 2023. Over the forecast period, laser welding equipment demand is anticipated to rise at 5.7% CAGR. Total market value is predicted to increase from US$ 2,899.1 million in 2024 to US$ 5,070.6 million by 2034.
Laser welding machines are experiencing heightened demand in the electronics and semiconductor industries, emerging as indispensable tools for precision manufacturing. Their quality of precision is highly valued in the tech world. The recent analysis shows that the fiber laser is projected to thrive at 5.7% CAGR during the assessment period.
| Attributes | Key Insights |
|---|---|
| Estimated Market Value (2024) | US$ 2,899.1 million |
| Forecast Market Revenue (2034) | US$ 5,070.6 million |
| Value-based Market CAGR (2024 to 2034) | 5.7% |
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The demand for laser welding equipment is predicted to expand around 1.7X through 2034, amid a 3.3% increase in expected CAGR compared to the historical one. This is due to the increasing demand for high-precision, automated, and non-contact welding solutions across industries.
The demand for high-precision and accurate welding solutions, especially in industries like electronics, automotive, and medical, is raising the adoption of advanced technology laser welding machines. The emerging trend towards automation in manufacturing processes further boosts the appeal of laser welding equipment, as it seamlessly integrates with automated systems, resulting in improved efficiency and productivity. By 2034, the total market revenue is set to reach US$ 5,070.6 million.
As per the analysis, East Asia is expected to retain its dominance in the laser welding equipment market over the forecast period. The East Asia region is poised to emerge as a frontrunner in driving the demand for laser welding equipment. East Asia's prominence in the market can be attributed to several factors contributing to its robust growth:
Key Market Dynamics
Key Factors Restraining the Market Growth
Global sales of laser welding equipment recorded a CAGR of 2.5% between 2019 and 2023. Total market revenue reached about US$ 2,761.4 million in 2023. In the forecast period, the worldwide laser welding equipment industry is set to thrive at a CAGR of 5.7%.
The market witnessed moderate growth between 2019 and 2023 due to rising awareness of the benefits of using laser welding equipment to optimize processes and reduce manual errors.
During the Covid-19 pandemic, the significance of laser welding machines became pronounced as they played a pivotal role in the rapid production of essential medical equipment. From manufacturing ventilators to diagnostic devices, the precision and efficiency offered by laser welding technology proved crucial in meeting the heightened demand for critical medical apparatus. The non-contact nature of laser welding also ensured the production of high-quality components, contributing to manufacturers' swift response to the evolving needs of the healthcare industry.
| Historical CAGR (2019 to 2023) | 2.5% |
|---|---|
| Forecast CAGR (2024 to 2034) | 5.7% |
Principal Consultant
The anticipated consistent growth of the market to reach a valuation of US$ 5,070.6 million by 2034 is attributed to a combination of factors.
The below table shows the estimated growth rates of the top countries. South Korea, India, and Japan are set to record higher CAGRs of 7.1%, 6.4%, and 6.6%, respectively, through 2034.
| Countries | Laser Welding Equipment CAGR (2024 to 2034) |
|---|---|
| South Korea | 7.1% |
| India | 6.4% |
| Japan | 6.6% |
| China | 6.1% |
| United Kingdom | 4.4% |
| United States | 4.1% |
The United States laser welding equipment market size is projected to reach US$ 516.6 million by 2034. Over the assessment period, equipment demand in the United States is set to rise at 4.1% CAGR.
The market is experiencing dynamic growth and innovation, propelled by a confluence of factors driving advancements in industrial welding technologies.
The demand for laser welding equipment solutions is exhibiting an upswing in the United Kingdom. Leading factors that are impelling these equipment sales are:
Market revenue generated by the sales of laser welding equipment in the United Kingdom is expected to rise at a 4.4% CAGR through this period.
The laser welding equipment market in China is experiencing a consistent surge, propelled by the nation's rapid industrialization and notable technological advancements. As a key player in the global manufacturing landscape, China's embrace of laser welding technology reflects a strategic shift towards precision and efficiency in industrial processes. The demand for high-precision welding solutions in sectors such as automotive, electronics, and aerospace is a driving force behind this surge.
Sales of laser welding equipment in China are projected to soar at a CAGR of around 6.1% during the assessment period. Total valuation in the country is anticipated to reach US$ 514.9 million by 2034.
India's manufacturing landscape is witnessing a remarkable surge in the adoption of laser welding equipment, marking a significant shift towards advanced and precise welding technologies. The dynamic growth is fueled by the country's expanding industrial sector, where laser welding is playing a pivotal role in enhancing efficiency and product quality.
The laser welding equipment market value in India is anticipated to total US$ 163.2 million by 2034. Over the forecast period, laser welding equipment demand in the country is set to increase at a robust CAGR of 6.4%.
The South Korea market is anticipated to amount to US$ 108.6 million by 2034. The market is predicted to register a CAGR of 7.1% through 2034. Top factors driving the industry are:
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| Top Segment (Technology) | Fiber Laser |
|---|---|
| Forecast CAGR (2024 to 2034) | 5.4% |
The laser welding equipment industry witnesses a notable dominance in the fiber laser technology segment, underscoring its pivotal role and widespread influence. Fiber laser technology has emerged as a frontrunner in the market, owing to its superior performance and versatility. This segment's dominance is evident in its ability to provide high-quality, precise, and efficient welding solutions across various industries.
Integration of fiber lasers with automated systems, compact design, and cost-effectiveness solidify their dominance in the laser welding equipment landscape. As industries increasingly prioritize advanced and efficient welding processes, the fiber laser technology segment remains at the forefront, shaping the trajectory of the overall market.
Over the forecast period, demand for fiber lasers is forecast to rise at a CAGR of 5.4% CAGR. By 2034, the target segment is estimated to reach US$ 2,091.2 million.
| Top Segment (End Use) | Automotive |
|---|---|
| Forecast CAGR (2024 to 2034) | 4.4% |
The demand for laser welding equipment in the automotive sector is poised to remain steady, exemplifying its crucial role in advancing manufacturing processes within the industry. Laser welding technology has become integral to automotive manufacturing due to its ability to deliver high-precision and efficient welding solutions.
As per the recent market report, the automotive segment is projected to thrive at 4.4% CAGR during the forecast period. It is set to attain a valuation of US$ 1,398.7 million by 2034.
The global laser welding equipment market is fragmented, with leading players accounting for about 25% to 30% of the share. IPG Photonics Corp., TRUMPF Group., AMADA Co. Ltd., Coherent Corp., Emerson Electric Co., Huagong Tech Co. Ltd., and United Winners Laser Co. are the leading manufacturers and suppliers listed in the report.
Key laser welding equipment companies are investing in research and development to produce new products and increase their production capacity to meet end-user demand. They are also showing an inclination toward adopting strategies, including acquisitions, partnerships, mergers, and facility expansions, to strengthen their footprint.
Recent Developments
The global market is estimated to be valued at US$ 2,899.1 million in 2024.
Global laser welding equipment demand is anticipated to rise at 5.7% CAGR.
The global laser welding equipment market size is set to reach US$ 5,070.6 million by 2034.
Fiber Laser is estimated to register a growth of 5.4% through 2034
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
4.3. Strategic Promotional Strategies
5. Global Market Demand Analysis 2019 to 2023 and Forecast, 2024 to 2034
5.1. Historical Market Volume (Units) Analysis, 2019 to 2023
5.2. Current and Future Market Volume (Units) Projections, 2024 to 2034
5.3. Y-o-Y Growth Trend Analysis
6. Global Market - Pricing Analysis
6.1. Regional Pricing Analysis By Technology
6.2. Global Average Pricing Analysis Benchmark
7. Global Market Demand (in Value or Size in US$ Million) Analysis 2019 to 2023 and Forecast, 2024 to 2034
7.1. Historical Market Value (US$ Million) Analysis, 2019 to 2023
7.2. Current and Future Market Value (US$ Million) Projections, 2024 to 2034
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Market Background
8.1. Macro-Economic Factors
8.1.1. Global GDP Growth Outlook
8.1.2. Global Automotive Production Outlook
8.1.3. Global Real GDP Growth Outlook
8.1.4. Growth Rates For The Global Electronics Industry
8.1.5. Manufacturing Value-Added
8.1.6. Industry Value Added
8.1.7. Parent Market Outlook
8.1.8. Other Macro-Economic Factors
8.2. Forecast Factors - Relevance & Impact
8.2.1. Top Companies Historical Growth
8.2.2. GDP Growth Forecast
8.2.3. Manufacturing Industry Forecast
8.2.4. Global Urbanization Growth Outlook
8.2.5. End-use Industry Growth Outlook
8.2.6. Other Forecast Factors
8.3. Value Chain
8.3.1. Product Manufacturers
8.3.2. End Users
8.3.3. Avg. Profitability Margins
8.4. COVID-19 Crisis – Impact Assessment
8.4.1. Current Statistics
8.4.2. Short-Mid-Long Term Outlook
8.4.3. Likely Rebound
8.5. Market Dynamics
8.5.1. Drivers
8.5.2. Restraints
8.5.3. Opportunity Analysis
8.6. PESTLE Analysis
8.7. Patent Analysis
9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Technology
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Million) and Volume Analysis By Technology, 2019 to 2023
9.3. Current and Future Market Size (US$ Million) and Volume Analysis and Forecast By Technology, 2024 to 2034
9.3.1. Solid State Laser
9.3.2. Gas Laser
9.3.3. Fiber Laser
9.3.4. Diode Laser
9.4. Market Attractiveness Analysis By Technology
10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Operation
10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ Million) and Volume Analysis By Operation, 2019 to 2023
10.3. Current and Future Market Size (US$ Million) and Volume Analysis and Forecast By Operation, 2024 to 2034
10.3.1. Manual
10.3.2. Semi-Automatic
10.3.3. Automatic
10.4. Market Attractiveness Analysis By Operation
11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Function
11.1. Introduction / Key Findings
11.2. Historical Market Size (US$ Million) and Volume Analysis By Function, 2019 to 2023
11.3. Current and Future Market Size (US$ Million) and Volume Analysis and Forecast By Function, 2024 to 2034
11.3.1. Spot & Seam Welding
11.3.2. Deposition Welding
11.3.3. Profile Welding
11.3.4. Scanner Welding
11.3.5. Hybrid Welding
11.3.6. Other Functions
11.4. Market Attractiveness Analysis By Function
12. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Use
12.1. Introduction / Key Findings
12.2. Historical Market Size (US$ Million) and Volume Analysis By End Use, 2019 to 2023
12.3. Current and Future Market Size (US$ Million) and Volume Analysis and Forecast By End Use, 2024 to 2034
12.3.1. Automotive
12.3.2. Electronics
12.3.3. Healthcare
12.3.4. Construction
12.3.5. Oil & Gas
12.3.6. Industrial Fabrication & Engineering
12.3.7. Jewelry Industry
12.3.8. Others
12.4. Market Attractiveness Analysis By End Use
13. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region
13.1. Introduction
13.2. Historical Market Size (US$ Million) and Volume Analysis By Region, 2019 to 2023
13.3. Current Market Size (US$ Million) and Volume Analysis and Forecast By Region, 2024 to 2034
13.3.1. North America
13.3.2. Latin America
13.3.3. East Asia
13.3.4. South Asia Pacific
13.3.5. Western Europe
13.3.6. Eastern Europe
13.3.7. Middle East and Africa (MEA)
13.4. Market Attractiveness Analysis By Region
14. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034
14.1. Introduction
14.2. Pricing Analysis
14.3. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2019 to 2023
14.4. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2024 to 2034
14.4.1. By Country
14.4.1.1. USA
14.4.1.2. Canada
14.4.1.3. Mexico
14.4.2. By Technology
14.4.3. By Operation
14.4.4. By Function
14.4.5. By End Use
14.5. Market Attractiveness Analysis
14.5.1. By Country
14.5.2. By Technology
14.5.3. By Operation
14.5.4. By Function
14.5.5. By End Use
14.6. Market Trends
14.7. Key Market Participants - Intensity Mapping
14.8. Drivers and Restraints - Impact Analysis
15. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034
15.1. Introduction
15.2. Pricing Analysis
15.3. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2019 to 2023
15.4. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2024 to 2034
15.4.1. By Country
15.4.1.1. Brazil
15.4.1.2. Chile
15.4.1.3. Rest of Latin America
15.4.2. By Technology
15.4.3. By Operation
15.4.4. By Function
15.4.5. By End Use
15.5. Market Attractiveness Analysis
15.5.1. By Country
15.5.2. By Technology
15.5.3. By Operation
15.5.4. By Function
15.5.5. By End Use
15.6. Market Trends
15.7. Key Market Participants - Intensity Mapping
15.8. Drivers and Restraints - Impact Analysis
16. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034
16.1. Introduction
16.2. Pricing Analysis
16.3. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2019 to 2023
16.4. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2024 to 2034
16.4.1. By Country
16.4.1.1. China
16.4.1.2. Japan
16.4.1.3. South Korea
16.4.2. By Technology
16.4.3. By Operation
16.4.4. By Function
16.4.5. By End Use
16.5. Market Attractiveness Analysis
16.5.1. By Country
16.5.2. By Technology
16.5.3. By Operation
16.5.4. By Function
16.5.5. By End Use
16.6. Market Trends
16.7. Key Market Participants - Intensity Mapping
16.8. Drivers and Restraints - Impact Analysis
17. South Asia Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034
17.1. Introduction
17.2. Pricing Analysis
17.3. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2019 to 2023
17.4. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2024 to 2034
17.4.1. By Country
17.4.1.1. India
17.4.1.2. ASEAN
17.4.1.3. ANZ
17.4.1.4. Rest of SAP
17.4.2. By Technology
17.4.3. By Operation
17.4.4. By Function
17.4.5. By End Use
17.5. Market Attractiveness Analysis
17.5.1. By Country
17.5.2. By Technology
17.5.3. By Operation
17.5.4. By Function
17.5.5. By End Use
17.6. Market Trends
17.7. Key Market Participants - Intensity Mapping
17.8. Drivers and Restraints - Impact Analysis
18. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034
18.1. Introduction
18.2. Pricing Analysis
18.3. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2019 to 2023
18.4. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2024 to 2034
18.4.1. By Country
18.4.1.1. Germany
18.4.1.2. Italy
18.4.1.3. France
18.4.1.4. UK
18.4.1.5. Spain
18.4.1.6. BENELUX
18.4.1.7. NORDICS
18.4.1.8. Rest of W. Europe
18.4.2. By Technology
18.4.3. By Operation
18.4.4. By Function
18.4.5. By End Use
18.5. Market Attractiveness Analysis
18.5.1. By Country
18.5.2. By Technology
18.5.3. By Operation
18.5.4. By Function
18.5.5. By End Use
18.6. Market Trends
18.7. Key Market Participants - Intensity Mapping
18.8. Drivers and Restraints - Impact Analysis
19. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034
19.1. Introduction
19.2. Pricing Analysis
19.3. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2019 to 2023
19.4. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2024 to 2034
19.4.1. By Country
19.4.1.1. Russia
19.4.1.2. Poland
19.4.1.3. Hungary
19.4.1.4. Balkan & Baltics
19.4.1.5. Rest of E. Europe
19.4.2. By Technology
19.4.3. By Operation
19.4.4. By Function
19.4.5. By End Use
19.5. Market Attractiveness Analysis
19.5.1. By Country
19.5.2. By Technology
19.5.3. By Operation
19.5.4. By Function
19.5.5. By End Use
19.6. Market Trends
19.7. Key Market Participants - Intensity Mapping
19.8. Drivers and Restraints - Impact Analysis
20. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034
20.1. Introduction
20.2. Pricing Analysis
20.3. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2019 to 2023
20.4. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2024 to 2034
20.4.1. By Country
20.4.1.1. KSA
20.4.1.2. Other GCC Countries
20.4.1.3. Türkiye
20.4.1.4. South Africa
20.4.1.5. Other African Union
20.4.1.6. Rest of MEA
20.4.2. By Technology
20.4.3. By Operation
20.4.4. By Function
20.4.5. By End Use
20.5. Market Attractiveness Analysis
20.5.1. By Country
20.5.2. By Technology
20.5.3. By Operation
20.5.4. By Function
20.5.5. By End Use
20.6. Market Trends
20.7. Key Market Participants - Intensity Mapping
20.8. Drivers and Restraints - Impact Analysis
21. Country-wise Market Analysis
21.1. Introduction
21.1.1. Market Value Proportion Analysis, By Key Countries
21.1.2. Global Vs. Country Growth Comparison
21.2. USA Market Analysis
21.2.1. By Technology
21.2.2. By Operation
21.2.3. By Function
21.2.4. By End Use
21.3. Canada Market Analysis
21.3.1. By Technology
21.3.2. By Operation
21.3.3. By Function
21.3.4. By End Use
21.4. Mexico Market Analysis
21.4.1. By Technology
21.4.2. By Operation
21.4.3. By Function
21.4.4. By End Use
21.5. Brazil Market Analysis
21.5.1. By Technology
21.5.2. By Operation
21.5.3. By Function
21.5.4. By End Use
21.6. Chile Market Analysis
21.6.1. By Technology
21.6.2. By Operation
21.6.3. By Function
21.6.4. By End Use
21.7. China Market Analysis
21.7.1. By Technology
21.7.2. By Operation
21.7.3. By Function
21.7.4. By End Use
21.8. Japan Market Analysis
21.8.1. By Technology
21.8.2. By Operation
21.8.3. By Function
21.8.4. By End Use
21.9. South Korea Market Analysis
21.9.1. By Technology
21.9.2. By Operation
21.9.3. By Function
21.9.4. By End Use
21.10. India Market Analysis
21.10.1. By Technology
21.10.2. By Operation
21.10.3. By Function
21.10.4. By End Use
21.11. ASEAN Market Analysis
21.11.1. By Technology
21.11.2. By Operation
21.11.3. By Function
21.11.4. By End Use
21.12. ANZ Market Analysis
21.12.1. By Technology
21.12.2. By Operation
21.12.3. By Function
21.12.4. By End Use
21.13. Germany Market Analysis
21.13.1. By Technology
21.13.2. By Operation
21.13.3. By Function
21.13.4. By End Use
21.14. Italy Market Analysis
21.14.1. By Technology
21.14.2. By Operation
21.14.3. By Function
21.14.4. By End Use
21.15. France Market Analysis
21.15.1. By Technology
21.15.2. By Operation
21.15.3. By Function
21.15.4. By End Use
21.16. UK Market Analysis
21.16.1. By Technology
21.16.2. By Operation
21.16.3. By Function
21.16.4. By End Use
21.17. Spain Market Analysis
21.17.1. By Technology
21.17.2. By Operation
21.17.3. By Function
21.17.4. By End Use
21.18. BENELUX Market Analysis
21.18.1. By Technology
21.18.2. By Operation
21.18.3. By Function
21.18.4. By End Use
21.19. NORDICS Market Analysis
21.19.1. By Technology
21.19.2. By Operation
21.19.3. By Function
21.19.4. By End Use
21.20. Russia Market Analysis
21.20.1. By Technology
21.20.2. By Operation
21.20.3. By Function
21.20.4. By End Use
21.21. Poland Market Analysis
21.21.1. By Technology
21.21.2. By Operation
21.21.3. By Function
21.21.4. By End Use
21.22. Hungary Market Analysis
21.22.1. By Technology
21.22.2. By Operation
21.22.3. By Function
21.22.4. By End Use
21.23. Balkan & Baltics Market Analysis
21.23.1. By Technology
21.23.2. By Operation
21.23.3. By Function
21.23.4. By End Use
21.24. KSA Market Analysis
21.24.1. By Technology
21.24.2. By Operation
21.24.3. By Function
21.24.4. By End Use
21.25. Other GCC Countries Market Analysis
21.25.1. By Technology
21.25.2. By Operation
21.25.3. By Function
21.25.4. By End Use
21.26. Türkiye Market Analysis
21.26.1. By Technology
21.26.2. By Operation
21.26.3. By Function
21.26.4. By End Use
21.27. South Africa Market Analysis
21.27.1. By Technology
21.27.2. By Operation
21.27.3. By Function
21.27.4. By End Use
21.28. Other African Union Market Analysis
21.28.1. By Technology
21.28.2. By Operation
21.28.3. By Function
21.28.4. By End Use
22. Market Structure Analysis
22.1. Market Analysis by Tier of Companies
22.2. Market Concentration
22.3. Market Share Analysis of Top Players
23. Competition Analysis
23.1. Competition Dashboard
23.2. Competition Benchmarking
23.3. Competition Deep Dive
23.3.1. IPG Photonics Corp
23.3.1.1. Overview
23.3.1.2. Product Portfolio
23.3.1.3. Profitability by Market Segments (Product/Channel/Region)
23.3.1.4. Sales Footprint
23.3.1.5. Strategy Overview
23.3.2. TRUMPF Group
23.3.3. AMADA Co Ltd
23.3.4. EMAG Group
23.3.5. Han's Laser Technology Industry Group Co Ltd
23.3.6. Coherent Corp
23.3.7. Panasonic Holdings Corp
23.3.8. Huagong Tech Co Ltd
23.3.9. United Winners Laser Co
23.3.10. HSG Laser
23.3.11. Penta Laser
23.3.12. Baison laser
23.3.13. Emerson Electric Co
23.3.14. Raymond Laser
23.3.15. Other Key Players
24. Assumptions and Acronyms Used
25. Research Methodology
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Laser Welding Equipment Market
